XML 18 R8.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net loss $ (5,970,079) $ (5,628,758)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 225,590 228,031
Stock-based compensation 654,024 924,898
Realized gain on short-term investments (39,938) (169,209)
Gain on asset 52,723
Prepaid expenses, operating lease right-of-use assets, and other current assets (185,689) (258,859)
Accounts payable 51,714 287,656
Accrued expenses, lease liabilities, and other current liabilities (628,739) (761,207)
Net cash used in operating activities (5,840,394) (5,377,448)
Cash flows from investing activities    
Purchase of property and equipment (214,238) (447,739)
Acquisition of intangible asset (19,634) (44,745)
Purchase of short-term investments (1,787,016) (10,497,206)
Proceeds from maturity of short-term investments 3,810,000 13,742,000
Net cash provided by investing activities 1,789,112 2,752,310
Cash flows from financing activities    
Proceeds from at-the-market equity financing, net of issuance costs 2,652,110
Issuance costs from public issuance of common stock and pre-funded warrants (53)  
Proceeds from exercise of stock options 6,844
Net cash provided by financing activities 2,652,057 6,844
Net decrease in cash (1,399,225) (2,618,294)
Cash, beginning of period 3,591,623 10,586,273
Cash, end of period 2,192,398 7,967,979
Supplemental disclosure of cash flow:    
Cash paid during the period for interest and taxes
Supplemental disclosure of non-cash activities:    
Acquisition of property and equipment included in accounts payable and accrued expenses $ 27,552 $ 139,568