XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.2
Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net loss $ (18,618,262) $ (27,920,608)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 87,257 114,080
Loss on disposal of assets   3,498
Non-cash lease expense 441,566 402,479
Stock-based compensation 1,728,268 2,044,400
Changes in assets and liabilities:    
Prepaid expenses and other current assets 512,324 (485,436)
Prepaid research and development expenses   (660,800)
Accounts payable (728,704) (836,670)
Accrued expenses (1,481,734) (2,104,703)
Lease liabilities (522,428) (485,046)
Net cash used in operating activities (18,581,713) (29,928,806)
Investing activities    
Purchases of property and equipment (12,727) (81,707)
Net cash used in investing activities (12,727) (81,707)
Financing activities    
Proceeds from issuance of common stock, net of issuance costs 28,707,011  
Proceeds from exercise of stock options 53,882  
Net cash provided by financing activities 28,760,893  
Net change in cash and cash equivalents 10,166,453 (30,010,513)
Cash and cash equivalents, beginning of period 47,870,619 90,254,890
Cash and cash equivalents, end of period $ 58,037,072 $ 60,244,377