Annual report [Section 13 and 15(d), not S-K Item 405]

Segment Information (Details)

v3.26.1
Segment Information (Details) - USD ($)
 12 Months Ended
May 31, 2026
May 31, 2025
Operating expenses:    
Return of clinical expenses   $ (25,000,000)
Legal Settlement Loss $ 15,430,000 0
Total operating expenses 38,575,000 (9,661,000)
Operating (loss) gain (38,575,000) 9,661,000
Interest income 257,000 565,000
Interest on convertible notes (2,489,000) (4,424,000)
Amortization of discount on convertible notes 0 (407,000)
Standby equity purchase agreement commitment fee 325,000 0
Issuance costs for private placement of shares and warrants through placement agent (1,628,000) 0
Legal settlement revaluation 83,000 0
Loss on induced conversion 0 (1,180,000)
Finance charges (22,000) (25,000)
Gain on restructuring of payables 0 407,000
Loss on derivatives 0 (852,000)
Provision (benefit) for income taxes 0 0
Net (loss) income (42,699,000) 3,745,000
Share based compensation recognized in general and administrative expense 600,000 800,000
Share based compensation recognized in research and development expense 1,000,000 800,000
Single reporting segment | Operating segment    
Operating expenses:    
General and administrative expense [1],[2] 6,802,000 6,434,000
Research and development [2],[3] 14,713,000 7,278,000
Return of clinical expenses [2] 0 (24,985,000)
Legal Settlement Loss [2] 15,430,000 0
Stock-based compensation expense [2] 1,630,000 1,612,000
Total operating expenses [2] 38,575,000 (9,661,000)
Operating (loss) gain (38,575,000) 9,661,000
Interest income 257,000 565,000
Interest on convertible notes (2,489,000) (4,424,000)
Amortization of discount on convertible notes 0 (407,000)
Standby equity purchase agreement commitment fee (325,000) 0
Issuance costs for private placement of shares and warrants through placement agent (1,628,000) 0
Legal settlement revaluation 83,000 0
Loss on induced conversion 0 (1,180,000)
Finance charges (22,000) (25,000)
Gain on restructuring of payables 0 407,000
Loss on derivatives 0 (852,000)
Net (loss) income $ (42,699,000) $ 3,745,000
[1] General and administrative expense for the years ended May 31, 2026, and 2025 is net of $0.6 million and $0.8 million of stock-based compensation expense, respectively
[2] The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM
[3] Research and development expense for the year ended May 31, 2026 and 2025 is net of $1.0 million and $0.8 million of stock-based compensation expense, respectively. For the year ended May 31, 2025, research and development expense is net of $25.0 million return of clinical expenses due to the settlement with Amarex.