Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Operations

v3.25.4
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Nov. 30, 2025
Nov. 30, 2024
Operating expenses:        
General and administrative $ 1,799 $ 2,298 $ 3,512 $ 3,907
Research and development 3,302 1,409 6,534 (22,637)
Legal settlement loss 16,587   16,587  
Total operating expenses 21,688 3,707 26,633 (18,730)
Operating (loss) gain (21,688) (3,707) (26,633) 18,730
Interest and other income (expense):        
Interest income 57 142 151 268
Interest on convertible notes (644) (1,161) (1,320) (2,326)
Amortization of discount on convertible notes   (113)   (238)
Standby equity purchase agreement commitment fee (325)   (325)  
Loss on induced conversion       (1,180)
Finance charges (7) (9) (20) (23)
Gain on restructuring of payables   80   80
Loss on derivatives       (852)
Total interest and other expenses (919) (1,061) (1,514) (4,271)
(Loss) gain before income taxes (22,607) (4,768) (28,147) 14,459
Income tax benefit 0 0 0 0
Net (loss) income $ (22,607) $ (4,768) $ (28,147) $ 14,459
(Loss) income per share:        
Basic (in dollars per share) $ (0.02) $ 0 $ (0.02) $ 0.01
Diluted (in dollars per share) $ (0.02) $ 0 $ (0.02) $ 0.01
Weighted average common shares used in calculation of (loss) income per share:        
Basic (in shares) 1,261,016 1,221,405 1,256,761 1,177,988
Diluted (in shares) 1,261,016 1,221,405 1,256,761 1,204,193