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PRINCIPAL BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2024

PRINCIPAL BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of reconciliation of cash and cash equivalents and restricted cash

​

​	​	​	​	​	​	​
​		December 31,
​	​	​	2024		​	2023
Cash and cash equivalents	​	$	3,279,926	​	$	14,131,137
Restricted cash, current	​	​	5,000,000	​	​	—
Restricted cash	​		1,483,958	​		1,483,958
Total cash, cash equivalents and restricted cash*	​	$	9,763,884	​	$	15,615,095

* See Note 1 – Basis of Presentation for further discussion regarding restricted cash.

Schedule of calculation of net loss per share

​

​	​	​	​	​	​	​
​		Years Ended December 31,
​	​	2024			2023
Basic and Diluted:	​	​		​	As Restated*
Numerator:		​			​
Net loss attributable to common stockholders per consolidated statements of operations	​	$	(20,718,957)	​	$	(29,246,760)
Denominator:	​			​
Weighted average common shares outstanding used to compute basic and diluted loss per share	​		54,434,609	​		44,656,391
​	​	​	​	​	​	​
Net loss per common share attributable to common stockholders, basic and diluted	​	$	(0.38)	​	$	(0.65)

* See Note 12 – Restatement of Previously Issued financial information for details.

Schedule of antidilutive securities excluded from computation of earnings per share

​

​	​	​	​	​
​	​	As of December 31,
​		2024		2023
Stock options outstanding		12,341,914		10,548,174
Warrants for common stock		4,352,130		2,706,561
RSUs*		3,450,836		3,254,005

*Total number of RSUs include 2,809,500 units with a Change in Control-Based performance condition.

Schedule of grant income and related expenses

​

​	​	​	​	​	​	​
​		2024			2023
Grant income	​	$	3,610,759	​	$	5,264,426
Grant income-related expenses	​	$	(3,583,233)	​	$	(5,129,952)

Schedule of previously reported consolidated statements of cash flows

​

​	​	​	​	​	​	​	​	​	​
​		As Previously Reported			Adjustments			As Reclassified*
Non-cash compensation	​	$	371,397	​	$	(371,397)	​	$	—
Stock-based compensation	​	$	3,329,307	​	$	371,397	​	$	3,700,704

* See Note 12 – Restatement to Previously Issued Financial Information for further adjustments to these line items. * These reclassification adjustments reflected in these consolidated cash flows statements line items also reflect the restatement adjustments applicable to the statements of changes to stockholders’ equity.

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