Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Operations

v3.26.1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Feb. 28, 2026
Feb. 28, 2025
Feb. 28, 2026
Feb. 28, 2025
Operating expenses:        
General and administrative $ 1,654 $ 1,516 $ 5,166 $ 5,423
Research and development 4,649 2,487 11,183 (20,150)
Legal settlement loss     16,587  
Total operating expenses 6,303 4,003 32,936 (14,727)
Operating (loss) gain (6,303) (4,003) (32,936) 14,727
Interest and other income (expense):        
Interest income 15 173 166 441
Interest on convertible notes (614) (1,143) (1,934) (3,469)
Amortization of discount on convertible notes   (110)   (348)
Standby equity purchase agreement commitment fee     (325)  
Issuance costs for private placement of shares and warrants through placement agent (Note 5) (1,628)   (1,628)  
Legal settlement revaluation 3,842   3,842  
Loss on induced conversion       (1,180)
Finance charges (2) (2) (22) (25)
Gain on restructuring of payables   327   407
Loss on derivatives       (852)
Total interest and other expenses 1,613 (755) 99 (5,026)
(Loss) gain before income taxes (4,690) (4,758) (32,837) 9,701
Income tax benefit 0 0 0 0
Net (loss) income $ (4,690) $ (4,758) $ (32,837) $ 9,701
(Loss) income per share:        
Basic (in dollars per share) $ 0 $ 0 $ (0.03) $ 0.01
Diluted (in dollars per share) $ 0 $ 0 $ (0.03) $ 0.01
Weighted average common shares used in calculation of (loss) income per share:        
Basic (in shares) 1,275,184 1,228,259 1,262,834 1,194,561
Diluted (in shares) 1,275,184 1,228,259 1,262,834 1,225,538