Accounts Payable and Accrued Expenses |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounts Payable and Accrued Expenses | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounts Payable and Accrued Expenses |
Note 4 - Accounts Payable and Accrued Expenses
At March 31, 2026, and December 31, 2025, accounts payable and accrued expenses consisted of the following:
(1) Includes approximately $1.3 million of accrued consideration, including approximately $50,000 of accrued interest, related to the repurchase of assets from uBriGene (Boston) Biosciences, Inc. (“uBriGene”) in 2024. The asset repurchase consisted of purchase consideration of an upfront payment of $0.1 million, and a deferred amount of approximately $1.3 million due twelve months after closing; however, the Company can elect to delay its payment obligation for the deferred amount for additional 6 month periods, upon written notice to uBriGene, if the Company’s net assets are below $20 million. Additionally, beginning in June 2025, the deferred amount began accruing interest at a rate of 5% per annum. In December 2025, the Company’s net assets were below $20 million, and it elected to delay the payment. |
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