XML 14 R5.htm IDEA: XBRL DOCUMENT v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net loss $ (6,109,225) $ (1,851,896)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation, amortization and impairment 4,797 4,795
Equity-based compensation expense 313,903 135,379
In-process research and development technology 1,987,900 0
Change in fair value of warrant liability (5,808) 46,054
Changes in operating assets and liabilities:    
Grants receivable 0 (367,536)
Prepaid expenses and other current assets 300,342 21,214
Accounts payable 150,302 (446,520)
Accrued expenses and other current liabilities (163,037) (264,280)
Net cash used in operating activities (3,520,826) (2,722,790)
Investing activities    
Purchase in-process research and development technology (1,500,000) 0
Net cash used in investing activities (1,500,000) 0
Financing activities    
Proceeds from issuance of equity securities, net 27,016,746
Proceeds from warrants exercised for cash 1,485,351
Payments on note payable (285,633)
Net cash provided by financing activities 0 28,216,464
Net increase (decrease) in cash, cash equivalents and restricted cash (5,020,826) 25,493,674
Cash, cash equivalents and restricted cash at beginning of period 29,214,380 11,118,614
Cash, cash equivalents and restricted cash at end of period 24,193,554 36,612,288
Supplemental disclosure of cash flow information:    
Cash paid for interest 0 1,174
Non-cash investing and financing activities:    
Common stock issued for in-process research and development technology 487,900 0
Accrued issuance costs for public offering $ 0 $ 166,725