SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
9 Months Ended |
Sep. 30, 2025 |
|---|
| Accounting Policies [Abstract] |
|
| SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES |
The
following potentially dilutive securities have been excluded from the computations of weighted-average shares of Common Stock outstanding
as of September 30, 2025 and 2024, as they would be anti-dilutive:
SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES
| |
|
2025 |
|
|
2024 |
|
| |
|
As of September 30, |
|
| |
|
2025 |
|
|
2024 |
|
| Shares underlying options outstanding |
|
|
9,055 |
|
|
|
11,243 |
|
| Shares underlying convertible preferred stock |
|
|
101,448 |
|
|
|
— |
|
| Shares underlying warrants outstanding |
|
|
1,348,292 |
|
|
|
283,575 |
|
| Shares underlying unvested restricted stock |
|
|
6,805 |
|
|
|
13,843 |
|
| Anti-dilutive securities |
|
|
1,465,600 |
|
|
|
308,661 |
|
|
| SCHEDULE OF REVENUE RECOGNITION |
SCHEDULE OF REVENUE RECOGNITION
| |
|
2025 |
|
|
2024 |
|
|
|
|
|
|
|
|
|
| |
|
Nine Months Ended
September 30, |
|
|
Three Months Ended
September 30,
|
|
| |
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
| Patient service fees1 |
|
$ |
3,685,397 |
|
|
$ |
6,259,806 |
|
|
$ |
1,172,948 |
|
|
$ |
2,049,851 |
|
| Histology service fees |
|
|
827,944 |
|
|
|
811,914 |
|
|
|
255,586 |
|
|
|
281,861 |
|
| Medical director fees |
|
|
51,171 |
|
|
|
50,136 |
|
|
|
17,274 |
|
|
|
16,943 |
|
| Department of Defense observational studies |
|
|
— |
|
|
|
8,654 |
|
|
|
— |
|
|
|
1,731 |
|
| Other revenues |
|
|
4,634 |
|
|
|
23,919 |
|
|
|
258 |
|
|
|
— |
|
| Total net revenue |
|
$ |
4,569,146 |
|
|
$ |
7,154,429 |
|
|
$ |
1,446,066 |
|
|
$ |
2,350,386 |
|
| |
1 |
Patient
services fees include direct billing for CyPath® Lung diagnostic test of approximately $619,000 and $332,000 for the
nine months ended September 30, 2025 and 2024, respectively, and $296,000 and $133,000 for the three months ended September 30, 2025 and 2024, respectively. |
|
| SCHEDULE OF PROPERTY AND EQUIPMENT USEFUL LIFE |
Property
and equipment are carried at cost, net of accumulated depreciation. Depreciation is computed using the straight-line method over the
estimated useful life of the asset. Amortization of leasehold improvements is computed using the shorter of the lease term or estimated
useful life of the asset. Additions and improvements are capitalized, while repairs and maintenance are expensed as incurred. Useful
lives of each asset class are as follows:
SCHEDULE OF PROPERTY AND EQUIPMENT USEFUL LIFE
| Asset Category |
|
|
Useful Life |
|
| Computer equipment |
|
|
3-5 years |
|
| Computer software |
|
|
3 years |
|
| Equipment |
|
|
3-5 years |
|
| Furniture and fixtures |
|
|
5-7 years |
|
| Vehicles |
|
|
5 years |
|
| Leasehold improvements |
|
|
Lesser of lease term or useful life |
|
|
| SCHEDULE OF INTANGIBLE ASSETS |
SCHEDULE OF INTANGIBLE ASSETS
| |
|
September 30, |
|
|
December 31, |
|
| |
|
2025 |
|
|
2024 |
|
| Cost |
|
|
|
|
|
|
|
|
| Goodwill |
|
$ |
1,404,486 |
|
|
$ |
1,404,486 |
|
| Trade names and trademarks |
|
|
150,000 |
|
|
|
150,000 |
|
| Customer relationships |
|
|
700,000 |
|
|
|
700,000 |
|
| Cost |
|
|
2,254,486 |
|
|
|
2,254,486 |
|
| Accumulated amortization |
|
|
|
|
|
|
|
|
| Trade names and trademarks |
|
|
(16,944 |
) |
|
|
(10,694 |
) |
| Customer relationships |
|
|
(101,667 |
) |
|
|
(64,167 |
) |
| Accumulated amortization |
|
|
(118,611 |
) |
|
|
(74,861 |
) |
| Intangible assets, net |
|
$ |
2,135,875 |
|
|
$ |
2,179,625 |
|
|
| SCHEDULE OF SEGMENT INFORMATION |
SCHEDULE OF SEGMENT INFORMATION
| |
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
| |
|
Three months ended September 30, |
|
|
Nine months ended
September 30,
|
|
| |
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
| Net revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Diagnostic R&D |
|
$ |
— |
|
|
$ |
1,731 |
|
|
$ |
— |
|
|
$ |
8,654 |
|
| Laboratory
services |
|
|
1,446,066 |
|
|
|
2,348,655 |
|
|
|
4,569,146 |
|
|
|
7,145,775 |
|
| Total net revenue |
|
|
1,446,066 |
|
|
|
2,350,386 |
|
|
|
4,569,146 |
|
|
|
7,154,429 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Diagnostic R&D |
|
|
(473,900 |
) |
|
|
(368,202 |
) |
|
|
(1,420,290 |
) |
|
|
(1,264,696 |
) |
| Laboratory services |
|
|
(1,509,795 |
) |
|
|
(2,150,825 |
) |
|
|
(5,423,922 |
) |
|
|
(7,423,109 |
) |
| General corporate activities |
|
|
(1,755,217 |
) |
|
|
(1,805,223 |
) |
|
|
(5,160,479 |
) |
|
|
(4,473,516 |
) |
| Total operating expenses |
|
|
(3,738,912 |
) |
|
|
(4,324,250 |
) |
|
|
(12,004,691 |
) |
|
|
(13,161,321 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total operating loss |
|
|
(2,292,846 |
) |
|
|
(1,973,864 |
) |
|
|
(7,435,545 |
) |
|
|
(6,006,892 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-operating (expense), net |
|
|
(2,755,056 |
) |
|
|
(24,417 |
) |
|
|
(4,295,882 |
) |
|
|
(54,392 |
) |
| Income tax expense |
|
|
(3,182 |
) |
|
|
(2,559 |
) |
|
|
(40,861 |
) |
|
|
(11,650 |
) |
| Net loss |
|
$ |
(5,051,084 |
) |
|
$ |
(2,000,840 |
) |
|
$ |
(11,772,288 |
) |
|
$ |
(6,072,934 |
) |
|