Condensed Statements of Cash Flows - USD ($)	9 Months Ended
Condensed Statements of Cash Flows - USD ($)	Sep. 30, 2025	Sep. 30, 2024
Cash Flows From Operating Activities
Net loss	$ (5,548,870)	$ (29,863,653)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	4,606,251	1,540,286
Change in fair value of equity consideration payable		(1,240,800)
Depreciation of property and equipment		830,605
Amortization of debt discount	640,969	552,620
Write-off of property and equipment		88,251
Write-down of inventories to net realizable value		769,217
Reacquisition of license rights		2,864,600
Non-cash lease expense	226,771	391,028
Gain on extinguishment of liabilities	(2,334,711)
Unrealized gain on HYPE digital assets	(6,440,804)
Non-cash realized gain on HYPE digital assets	(6,938,236)
Impairment loss - digital intangible assets	6,289,847
HYPE staking income	(323,980)
Interest expense added to note principal	295,329
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(216,851)	836,507
License fee and expense reimbursement receivables		(13,761)
Deferred clinical supply costs		1,272,309
Inventories		(1,051,023)
Security and equipment deposits	(55,829)	1,148
Accounts payable	(815,931)	(179,232)
Accrued compensation		(1,781)
Accrued expenses and other current liabilities	359,662	(453,567)
Lease liabilities	(456,233)	(352,836)
Net Cash Used In Operating Activities	(10,712,616)	(24,010,082)
Cash Flows From Investing Activities
Purchase of property and equipment		(161,476)
Purchase of productive digital assets	(65,635,000)
Net Cash Used In Investing Activities	(65,635,000)	(161,476)
Cash Flows From Financing Activities
Proceeds from sale of common stock and warrants in direct offering		16,139,994
Payment of direct offering costs		(1,902,987)
Proceeds from sale of preferred stock and warrants in private placement	50,000,000
Payment of private placement issuance costs	(634,250)
Proceeds from sale of common stock in At the Market offering	30,998,213	6,234,402
Payment of issuance costs for At the Market offering	(991,862)	(187,033)
Proceeds from induced exercise of stock warrants	1,039,206
Proceeds from exercise of stock warrants	3,892,473
Payment of cash issuance costs for induced exercise of stock warrants	(116,455)
Reverse stock split settlement of fractional shares	(160)
Payment of issuance costs for debt modification	(177,228)
Repayments of notes payable	(1,463,437)	(3,773,746)
Payment of preferred dividend	(97,167)
Net Cash Provided By Financing Activities	82,449,333	16,510,630
Net Increase (Decrease) in Cash and Cash Equivalents	6,101,717	(7,660,928)
Cash and Cash Equivalents - Beginning of Period	2,121,463	14,849,057
Cash and Cash Equivalents - End of Period	8,223,180	7,188,129
Supplemental Disclosure of Cash Flow Information:
Interest	396,788	1,402,147
Supplemental Disclosure of Non-Cash Investing and Financing Activities
Deposits of HYPE into liquid staking activities	41,174,779
Purchase of insurance policy financed by note payable		505,050
Accrual for intangible asset milestone obligation		2,000,000
Dividend payable	795,000
Reclassification of deferred clinical supply costs to inventories		2,575,652
Modification date carrying value of extinguished Avenue Loan	10,262,280
Modification date fair value of modified Avenue Loan	10,172,657
Warrants issued for debt modification	858,270
Warrant modification and additional warrants - incremental value	1,194,102	2,868,000
Conversion of Avenue Loan to common stock	640,336
Common stock issued in consideration for licensing agreement		436,809
Common stock issued in consideration for reacquisition of licensing agreement		$ 2,322,391
Issuance of common stock related to vested restricted stock units	$ 17

HYPERION DEFI, INC. 10-Q