XML 17 R6.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities    
Net loss $ (125,751,809) $ (59,456,394)
Depreciation expense 1,258 3,752
Stock-based compensation 40,494,476 20,777,272
Realized loss on short-term investments 636,012 156,213
Unrealized loss (gain) on short-term investments 611,382 (139,267)
Change in operating assets and liabilities:    
Lease payment receivable 79,457 73,091
Prepaid expenses and other assets (10,401,638) (479,327)
Accounts payable 2,846,027 7,823,812
Accrued expenses (388,560) 3,432,047
Net cash used in operating activities (91,873,395) (27,808,801)
Cash flows from investing activities    
Purchase of short-term investments (222,981,675) (182,051,630)
Sale of short-term investments 168,863,639 147,603,982
Net cash used in investing activities (54,118,036) (34,447,648)
Cash flows from financing activities    
Principal payments of notes payable (110,247)
Proceeds from issuance of common stock 184,642,981 19,791,644
Proceeds from options exercised for common stock 668,431 735,514
Proceeds from warrants exercised for common stock 2,628,061 8,056,416
Net cash provided by financing activities 187,939,473 28,473,327
Net increase (decrease) in cash and cash equivalents 41,948,042 (33,783,122)
Cash and cash equivalents at beginning of the period 2,495,397 36,278,519
Cash and cash equivalents at end of the period 44,443,439 2,495,397
Cash paid during the period for:    
Interest 2,415
Non-cash investing and financing transactions:    
Cashless exercise of warrants for common stock 42
Cashless exercise of options for common stock $ 90