v3.22.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (14,639,033) $ (11,849,873)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 2,211,945 2,741,680
Change in right-of-use assets 61,383 56,350
Depreciation 40,819 24,277
Changes in operating assets and liabilities:    
Decrease in trade receivables 43,738 72
Decrease in inventory 1,288 75,737
Decrease in prepaid expenses and other current assets 208,535 265,019
Increase (Decrease) in accounts payable 287,011 (184,681)
Decrease in accrued expenses (362,604) (857,924)
Decrease in operating lease liabilities (59,539) (52,983)
Net cash used in operating activities (12,206,457) (9,782,326)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of short-term investments (14,279,033) (7,595,280)
Maturity of short-term investments 10,700,000 6,879,685
Purchase of equipment (14,187) (18,698)
Net cash used in investing activities (3,593,220) (734,293)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from sale of common stock from at-the-market program, net 11,415,372 41,455,630
Proceeds from exercise of warrants 164,886
Proceeds from exercise of stock options 137,035
Net cash provided by financing activities 11,415,372 41,757,551
Foreign exchange effect on cash (13,555) (4,500)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (4,397,860) 31,236,432
CASH, CASH EQUIVALENTS AND RESTRICTED CASH – BEGINNING OF PERIOD 53,551,277 42,096,783
CASH, CASH EQUIVALENTS AND RESTRICTED CASH – END OF PERIOD 49,153,417 73,333,215
Cash paid for interest 8,964 5,184
Supplemental Disclosure of Non-Cash Financing Activities:    
Conversion of Series G preferred stock to common stock 10
Conversion of Series C-3 preferred stock to common stock 50
Unrealized loss from investments $ (35,488) $ (315)