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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (21,525,453) $ (21,298,620)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Loss on disposal of fixed assets 5,388 0
Depreciation and amortization 761,274 341,529
Stock-based compensation 5,530,689 3,310,366
Changes in lease liabilities (13,921) 168,254
Changes in operating assets and liabilities:    
Receivables   (155,830)
Prepaid expenses and other current assets 461,475 816,253
Other assets   7,550
Accounts payable and accrued expenses 1,937,089 735,985
Accounts payable and accrued expenses, related party (69,057) (515,232)
Deferred revenue (1,089,977) 28,408,434
Net cash provided by (used in) operating activities (14,002,493) 11,818,689
Cash flows from investing activities:    
Purchase of marketable securities (72,665,821) (82,175,353)
Proceeds from sales and maturities of marketable securities 84,955,000 44,097,961
Purchases of property and equipment (753,056) (1,306,199)
Payments for leasehold improvements (565,255) (831,032)
Net cash provided by (used in) investing activities 10,970,868 (40,214,623)
Cash flows from financing activities:    
Net proceeds from sale of common stock 2,351,476 1,880,324
Proceeds from exercise of stock awards 61,574 43,989
Net cash provided by financing activities 2,413,050 1,924,313
Net decrease in cash and cash equivalents (618,575) (26,471,621)
Cash and cash equivalents balance at beginning of period 9,603,242 34,885,274
Cash and cash equivalents balance at end of period $ 8,984,667 8,413,653
Supplemental disclosures of cash flow information:    
Interest paid in cash   0
Income taxes paid in cash   $ 0