XML 23 R6.htm IDEA: XBRL DOCUMENT v3.24.1
Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Net loss $ (36,899,420) $ (46,688,802) $ (63,427,437)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 153,301 207,145 264,600
Loss on disposal of assets 8,627 3,498 2,174
Non-cash lease expense 856,238 825,011 749,039
Issuance of common stock for services 36,000    
Stock-based compensation 3,524,476 3,857,580 6,087,286
Changes in assets and liabilities:      
Prepaid expenses and other current assets 846,182 (2,310,282) 704,524
Prepaid research and development expenses (553,737) 1,510,607  
Accounts payable (102,076) (1,137,424) 17,676
Accrued expenses (1,766,449) (1,723,362) (988,842)
Lease liabilities (983,045) (1,001,459) (898,550)
Net cash used in operating activities (34,879,903) (46,457,488) (57,489,530)
Investing activities      
Purchases of property and equipment (21,394) (84,191) (14,943)
Net cash used in investing activities (21,394) (84,191) (14,943)
Financing activities      
Proceeds from issuance of common stock, net of issuance costs 28,707,011 4,157,408 10,699,317
Proceeds from exercise of stock options 116,497   25,029
Net cash provided by financing activities 28,823,508 4,157,408 10,724,346
Net change in cash and cash equivalents (6,077,789) (42,384,271) (46,780,127)
Cash and cash equivalents, beginning of period 47,870,619 90,254,890 137,035,017
Cash and cash equivalents, end of period $ 41,792,830 $ 47,870,619 $ 90,254,890