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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net loss $ (3,109,404) $ (5,779,660)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 664,955 908,291
Amortization of held-to-maturity securities, net (25,889) 25,217
Gain from the sale of investment in Alphazyme (1,017,592) 0
Foreign currency exchange loss (gain), net 25,543 10,372
Changes in operating assets and liabilities:    
Interest receivable 22,232 52,138
Accounts receivable (429,790) (890,686)
Prepaid expenses and other current assets 256,484 273,288
Accounts payable (404,801) (430,899)
Accrued expenses 296,587 514,778
Deferred research and development obligation (31,743) 750,184
Deferred license revenue (88,236) (58,823)
Net cash used in operating activities (3,841,654) (4,625,800)
Cash flows from investing activities    
Purchases of held-to-maturity investment securities (1,977,166) (6,177,270)
Proceeds from maturities of investment securities 4,563,000 4,500,000
Proceeds from the sale of investment in Alphazyme 1,302,524 0
Net cash provided by (used in) investing activities 3,888,358 (1,677,270)
Cash flows from financing activities    
Proceeds from exercise of options 0 42,350
Net cash provided by financing activities 0 42,350
Effect of exchange rate changes on cash 615 (11,348)
Net increase (decrease) in cash and cash equivalents 47,319 (6,272,068)
Cash and cash equivalents at beginning of period 5,794,272 15,748,480
Cash and cash equivalents at end of period 5,841,591 9,476,412
Non-cash item    
Vesting of restricted stock units $ 342,186 $ 0