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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (27,385,154) $ (40,042,677)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 5,001,332 6,710,160
Non-cash interest expense 167,893 133,411
Net amortization of premium on marketable securities (1,105,475) (1,205,746)
Depreciation and amortization expense 186,877 185,250
Write-off of deferred offering costs 267,261 0
Change in operating assets and liabilities:    
Prepaid expenses and other current assets 758,510 1,010,753
Accounts payable (167,030) (1,151,138)
Accrued expenses and other liabilities (5,770,551) 3,188,085
Net cash used in operating activities (28,046,337) (31,171,902)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of marketable securities (40,263,712) (75,351,884)
Maturities of marketable securities 72,000,000 32,000,000
Net cash provided by (used in) investing activities 31,736,288 (43,351,884)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock, net of issuance costs 0 (217,261)
Proceeds from exercise of stock options 1,103,940 0
Proceeds from employee stock purchase plan 19,616 38,060
Net cash provided by financing activities 1,123,556 (179,201)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 4,813,507 (74,702,987)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 54,527,092 142,823,016
CASH AND CASH EQUIVALENTS, END OF PERIOD 59,340,599 68,120,029
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Cash paid during the period for interest 1,267,250 1,329,167
SUPPLEMENTAL INFORMATION AND DISCLOSURES OF NONCASH ACTIVITIES:    
Offering costs not yet paid 0 50,000
Change in right-of-use asset and lease liability due to lease amendment $ 260,899 $ 0