Quarterly report pursuant to Section 13 or 15(d)

Transactions with Related Parties

Transactions with Related Parties
3 Months Ended
Mar. 31, 2024
Related Party Transactions [Abstract]  
Transactions with Related Parties

10. Transactions with Related Parties


On September 1, 2021, the Company entered into a three-year lease extension with a limited liability company controlled by Dr. Phillip Frost, a director and a principal stockholder of the Company. For the three months ended March 31, 2024 and 2023, rent expense was approximately $16,000 for each period, including fixed and estimable fees and taxes.


On April 4, 2023, the Company entered into a Securities Purchase Agreement with two accredited investors (the “Purchasers”) whereby the Purchasers agreed to purchase a total of 2,030,458 shares of unregistered common stock at a price of $1.97 per share for a total purchase price of $4,000,000 in two equal $2,000,000 investments. The Purchasers were an entity controlled by a director and another investor who subsequently joined the Company’s Board of Directors.