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v3.26.1

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended
--- | ---
Jun. 30, 2026 | Jun. 30, 2025
Cash flows from operating activities: |  |
Net loss | $ (14,313,239) | $ (9,864,222)
Adjustments to reconcile net loss to net cash used in operating activities: |  |
Stock-based compensation | 1,373,939 | 1,173,956
Restricted stock issued for consulting expense | 242,587 | 62,321
Change in fair value of warrant liability | (185,126) | (565,387)
Change in operating assets and liabilities: |  |
Prepaid expenses and other current assets | 401,990 | (352,257)
Accounts payable | 796,104 | 206,031
Accrued expenses | (377,638) | 1,001,947
Net cash used in operating activities | (12,061,383) | (8,337,611)
Cash flows from financing activities: |  |
Proceeds from exercise of stock options | 38,549 | 844
Proceeds from exercise of warrants |  | 328,924
Proceeds from confidentially marketed public offering | 33,008,813 |
Proceeds from At-The-Market offering |  | 3,001,985
Payment of offering transactions costs | (2,060,041) | (381,293)
Net cash provided by financing activities | 30,987,321 | 8,869,406
Net effect of foreign currency exchange on cash | 11,862 | 11,429
Net increase in cash | 18,937,800 | 543,224
Cash at beginning of period | 8,658,031 | 9,601,298
Cash at end of period | 27,595,831 | 10,144,522
Supplemental disclosure of cash flow information: |  |
Warrants issued in connection with private placement offering 1 2025 |  | 1,107,202
Warrants issued in connection with private placement offering 2 2025 |  | 571,566
Warrants issued in connection with private placement offering 3 2025 |  | 462,592
Warrants issued in connection with private placement offering 4 2025 |  | 300,245
Private Placement Offering One 2025 [Member] |  |
Cash flows from financing activities: |  |
Proceeds from private placement |  | 2,715,000
Private Placement Offering Two 2025 [Member] |  |
Cash flows from financing activities: |  |
Proceeds from private placement |  | 1,428,949
Private Placement Offering Three 2025 [Member] |  |
Cash flows from financing activities: |  |
Proceeds from private placement |  | 1,079,998
Private Placement Offering Four 2025 [Member] |  |
Cash flows from financing activities: |  |
Proceeds from private placement |  | $ 694,999

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