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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (33,350,583) $ (21,525,453)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss on disposal of fixed assets   5,388
Depreciation and amortization 1,049,509 761,274
Stock-based compensation 7,469,488 5,530,689
Changes in lease liabilities (30,941) (13,921)
Changes in operating assets and liabilities:    
Receivables 9,962,311  
Prepaid expenses and other current assets 610,711 461,475
Other assets (51,074)  
Accounts payable and accrued expenses 281,122 1,868,032
Deferred revenue (11,139,956) (1,089,977)
Net cash used in operating activities (25,199,413) (14,002,493)
Cash flows from investing activities:    
Purchase of marketable securities (69,077,305) (72,665,821)
Proceeds from sales and maturities of marketable securities 77,079,337 84,955,000
Purchases of property and equipment (678,073) (753,056)
Payments for leasehold improvements (126,180) (565,255)
Net cash provided by investing activities 7,197,779 10,970,868
Cash flows from financing activities:    
Net proceeds from sale of common stock 71,481,962 2,351,476
Proceeds from exercise of stock awards 202,217 61,574
Net cash provided by financing activities 71,684,179 2,413,050
Net increase (decrease) in cash and cash equivalents 53,682,545 (618,575)
Cash and cash equivalents balance at beginning of period 14,694,857 9,603,242
Cash and cash equivalents balance at end of period $ 68,377,402 $ 8,984,667