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v3.25.2

Statements of Cash Flows - USD ($) | 6 Months Ended
--- | ---
Jun. 30, 2025 | Jun. 30, 2024
Cash flows from operating activities: |  |
Net loss | $ (11,757,127) | $ (6,087,359)
Adjustments to reconcile net loss to net cash used in operating activities: |  |
Stock-based compensation expense | 996,505 | 1,961,277
Change in fair value of warrants | (418,000) | (10,761,000)
Non-cash other financing costs |  | 1,296,060
Changes in operating assets and liabilities: |  |
Prepaid expenses and other current assets | (950,568) | 3,404,856
Accounts payable | (1,331,663) | 2,101,820
Accrued expenses | 255,800 | (2,323,591)
Net cash used in operating activities | (13,205,053) | (10,407,937)
Cash flows from financing activities: |  |
Proceeds from issuance of common stock, net | 19,783,423 | 8,110,984
Proceeds from exercise of warrants |  | 540,000
Net cash provided by financing activities | 19,783,423 | 8,650,984
Net increase (decrease) in cash and cash equivalents | 6,578,370 | (1,756,953)
Cash and cash equivalents, beginning of period | 10,551,916 | 5,754,720
Cash and cash equivalents, end of period | $ 17,130,286 | 3,997,767
Supplemental disclosure of cash flow information: |  |
Reduction in value of warrants related to exercises |  | 684,000
Cash paid for financing costs |  | $ 50,000

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