XML 18 R6.htm IDEA: XBRL DOCUMENT v3.23.1
Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities      
Net loss $ (46,688,802) $ (63,427,437) $ (51,026,903)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 207,145 264,600 270,754
Loss on disposal of assets 3,498 2,174  
Non-cash lease expense 825,011 749,039 680,845
Stock-based compensation 3,857,580 6,087,286 6,901,758
Changes in assets and liabilities:      
Prepaid expenses and other current assets (2,310,282) 704,524 3,087,994
Prepaid research and development expenses 1,510,607    
Accounts payable (1,137,424) 17,676 654,279
Accrued expenses (1,723,362) (988,842) 993,420
Lease liabilities (1,001,459) (898,550) (804,078)
Net cash used in operating activities (46,457,488) (57,489,530) (39,241,931)
Investing activities      
Purchases of property and equipment (84,191) (14,943) (68,507)
Net cash used in investing activities (84,191) (14,943) (68,507)
Financing activities      
Proceeds from issuance of common stock, net of issuance costs 4,157,408 10,699,317 17,824,717
Proceeds from exercise of stock options   25,029 319,297
Net cash provided by financing activities 4,157,408 10,724,346 18,144,014
Net change in cash and cash equivalents (42,384,271) (46,780,127) (21,166,424)
Cash and cash equivalents, beginning of period 90,254,890 137,035,017 158,201,441
Cash and cash equivalents, end of period $ 47,870,619 $ 90,254,890 $ 137,035,017