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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net loss $ (53,471,622) $ (50,513,568)
Adjustment to reconcile to net loss to net cash used in operating activities:    
Depreciation expense 322,816 247,199
Reduction in carrying amount of right-of-use assets 412,055 519,541
Amortization of intangibles 29,267 30,053
Stock-based compensation expense 5,727,135 4,064,446
Net accretion of discount on marketable securities (1,017,583) (171,382)
Loss on disposal of fixed assets 3,939 5,170
(Increase) decrease in:    
Accounts receivable 12,417 233,623
Prepaid expenses and other current assets (172,660) (284,346)
Other assets (290,742) (360,200)
Increase (decrease) in:    
Accounts payable (1,106,896) 1,760,217
Accrued expenses 721,989 474,568
Lease liabilities (378,723) (126,382)
Other liabilities 239,974 19,796
Net cash used in operating activities (48,968,634) (44,101,265)
Cash flows from investing activities:    
Purchases of property and equipment (342,746) (742,483)
Purchases of marketable securities (44,660,762) (50,104,515)
Maturities of marketable securities 52,300,000 92,678,000
Net cash provided by investing activities 7,296,492 41,831,002
Cash flows from financing activities:    
Proceeds from public offering of common stock, net of commissions and underwriting 28,200,003 0
Payment of public offering costs (203,768) (281,375)
Proceeds from exercise of stock options 444,838 300,379
Net cash provided by financing activities 28,441,073 19,004
Net decrease in cash and cash equivalents (13,231,069) (2,251,259)
Cash and cash equivalents at beginning of period 72,636,886 74,888,145
Cash and cash equivalents at end of period 59,405,817 72,636,886
Supplemental disclosures of noncash investing and financing information:    
Reduction of right-of-use asset and lease liability in connection with lease modification 0 396,901
Property and equipment in accounts payable/accrued expenses $ 14,983 $ 72,272