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Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues:        
Revenue from collaborative arrangement $ 0 $ 0 $ 65,343 $ 100,762
Operating expenses:        
Research and development 13,333,329 18,733,584 43,945,638 62,734,891
General and administrative 7,877,126 8,613,895 25,465,208 29,395,232
Total operating expenses 21,210,455 27,347,479 69,410,846 92,130,123
Loss from operations (21,210,455) (27,347,479) (69,345,503) (92,029,361)
Other income (expense):        
Interest income 552,108 1,106,758 1,970,823 3,914,406
Interest expense 0 0 0 (177,833)
Change in fair value of common stock warrant liabilities (22,515,730) 0 (20,680,868) 0
(Loss) gain on investment in affiliated entity (589,618) 324,251 881,886 (136,061)
Net unrealized gain on available-for-sale equity securities 205,259 1,330,811 1,104,782 1,810,868
Other expense, net (1,938,236) (579,819) (2,641,901) (1,254,466)
Net loss $ (45,496,672) $ (25,165,478) $ (88,710,781) $ (87,872,447)
Net loss per share        
Basic (in dollars per share) $ (0.87) $ (0.89) $ (2.12) $ (3.35)
Diluted (in dollars per share) $ (0.87) $ (0.89) $ (2.12) $ (3.35)
Weighted average number of common shares used to compute net loss per share        
Basic (in shares) 52,168,694 28,140,497 41,837,956 26,216,983
Diluted (in shares) 52,168,694 28,140,497 41,837,956 26,216,983