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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows From Operating Activities:    
Net loss $ (7,343,233) $ (8,113,710)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 138,687 123,022
Dividend and interest income (492,476) (166,866)
Stock-based compensation 2,636,941 6,318,562
Non-cash lease expense 111,750 87,034
Gain on exchange of warrants (1,711,698)
Change in fair value of warrant liabilities 837,466 (3,476,556)
Changes in operating assets and liabilities:    
Accounts receivable (145,700) (23,300)
Prepaid expenses and other current assets 23,124 37,151
Accounts payable 211,990 56,453
Accrued expenses and other current liabilities (29,449) 418,882
Lease liability (119,903) (102,921)
Net Cash Used In Operating Activities (5,882,501) (4,842,249)
Cash Flows From Investing Activities:    
Sale of marketable securities 17,370,243 18,089,372
Purchase of marketable securities (18,294,566) (14,651,512)
Purchases of equipment (93,755) (101,019)
Net Cash (Used In) Provided By Investing Activities (1,018,078) 3,336,841
Cash Flows From Financing Activities:    
Net proceeds from issuance of common stock in at-the-market offering 411,710
Net proceeds from issuance of common stock in direct-offering 1,853,990
Proceeds from exchange and issuance of warrants, net [1] 7,528,027
Deferred offering costs (22,381)
Net Cash Provided By Financing Activities 7,505,646 2,265,700
Net Increase In Cash and Cash Equivalents 605,067 760,292
Cash and Cash Equivalents - Beginning of the Period 884,377 1,676,577
Cash and Cash Equivalents - End of the Period 1,489,444 2,436,869
Supplemental Disclosures of Cash Flow Information:    
Interest
Income taxes
Non-cash investing and financing activities:    
Issuance of common stock held in abeyance 15
Return and cancellation of shares in lieu of payroll tax withholding $ 48,410 $ 39,308
[1] Includes gross proceeds of $8,123,391, less issuance costs of $595,364.