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Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 59,340,599 $ 54,527,092
Marketable securities 15,956,740 46,624,180
Prepaid expenses and other current assets 2,162,696 2,921,206
Total current assets 77,460,035 104,072,478
Deferred offering costs 0 267,261
Right-of-use assets 340,977 266,955
Total assets 77,801,012 104,606,694
Current liabilities:    
Accounts payable 13,423 180,453
Accrued expenses 6,999,297 12,118,367
Current portion of debt 15,199,265 31,372
Operating lease liabilities 271,948 271,631
Deferred collaboration revenue, long term 6,000,000 6,000,000
Total current liabilities 28,483,933 18,601,823
Operating lease liabilities, long-term 72,536 0
Long-term debt, net of current portion 0 15,000,000
Total liabilities 28,556,469 33,601,823
Commitments and contingencies (Notes 3, 9, & 14)
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 60,162,773 and 59,648,278 shares issued and outstanding, respectively 60,163 59,648
Additional paid-in capital 526,679,311 521,018,373
Accumulated other comprehensive (loss) income 815 37,442
Accumulated deficit (477,495,746) (450,110,592)
Total stockholders’ equity 49,244,543 71,004,871
Total liabilities and stockholders’ equity $ 77,801,012 $ 104,606,694