CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash	$ 12,835,454	$ 17,813,521
Grant receivable	0	952,460
Reimbursement right	2,297,806	2,297,806
Due from related party	$ 638	$ 638
Other Receivable, after Allowance for Credit Loss, Current, Related Party [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Prepaid expenses and other current assets	$ 1,615,096	$ 919,440
Total current assets	16,748,994	21,983,865
Property and equipment, net of depreciation	346,745	370,681
Goodwill	25,744,143	25,744,143
Intangible assets	114,300,000	114,300,000
Deferred offering costs	25,000
Total assets	157,164,882	162,398,689
Current liabilities:
Accounts payable and accrued expenses	5,293,308	3,494,220
Deferred grant income	85,262	0
Total current liabilities	5,378,570	3,494,220
Long-term liabilities:
Contingent consideration	6,248,000	6,364,000
Deferred tax liability	457,377	226,068
Long-term liabilities	7,265,124	7,024,467
Total liabilities	12,643,694	10,518,687
Commitments and contingencies
Stockholders' equity:
Common stock - $0.0001 par value per share; 290,000,000 shares authorized at March 31, 2026, and December 31, 2025; 916,968 shares issued and outstanding at March 31, 2026, and December 31, 2025	92	92
Additional paid-in capital	116,899,277	108,198,366
Accumulated deficit	(115,648,063)	(97,862,992)
Total stockholders' equity	1,251,427	10,335,466
Total liabilities, Series A Non-Voting Convertible Preferred Stock and stockholders' equity	157,164,882	162,398,689
Series A Non-Voting Convertible Preferred Stock
Long-term liabilities:
Series A Non-Voting Convertible Preferred Stock - $0.0001 par value per share; 1,242.0718 shares authorized at March 31, 2026, and December 31, 2025; 1,212.1822 shares issued and outstanding at March 31, 2026, and December 31, 2025	143,269,761	141,544,536
Series B Non-Voting Convertible Preferred Stock
Stockholders' equity:
Non-Voting Convertible Preferred Stock
Series C Non-Voting Convertible Preferred Stock
Stockholders' equity:
Non-Voting Convertible Preferred Stock	121
Series C warrants
Long-term liabilities:
Warrant liability	$ 559,747	$ 434,399

Transcode Therapeutics, Inc. 10-Q