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Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 41,241,269 $ 54,527,092
Marketable securities 40,678,370 46,624,180
Prepaid expenses and other current assets 2,638,589 2,921,206
Total current assets 84,558,228 104,072,478
Deferred offering costs 0 267,261
Right-of-use assets 404,660 266,955
Total assets 84,962,888 104,606,694
Current liabilities:    
Accounts payable 1,455,271 180,453
Accrued expenses 6,663,580 12,118,367
Current portion of debt 15,148,897 31,372
Operating lease liabilities 263,551 271,631
Deferred collaboration revenue, long term 6,000,000 6,000,000
Total current liabilities 29,531,299 18,601,823
Operating lease liabilities, long-term 143,447 0
Long-term debt, net of current portion 0 15,000,000
Total liabilities 29,674,746 33,601,823
Commitments and contingencies (Notes 13, 14, and 15)
Stockholders' equity:    
Preferred stock, $0.001 par value, 15,000,000 shares authorized, none issued and outstanding 0 0
Common stock, voting, $0.001 par value; 150,000,000 authorized and 60,045,530 and 59,648,278 shares issued and outstanding, respectively 60,046 59,648
Additional paid-in capital 525,046,496 521,018,373
Accumulated other comprehensive (loss) income (10,995) 37,442
Accumulated deficit (469,807,405) (450,110,592)
Total stockholders’ equity 55,288,142 71,004,871
Total liabilities and stockholders’ equity $ 84,962,888 $ 104,606,694