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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities:    
Net loss $ (8,421,892) $ (5,684,038)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 48,202 54,041
Stock-based compensation expense 478,560 304,824
Deferred income taxes 0 (869,705)
Changes in operating assets and liabilities:    
Prepaid expenses, deposits and other assets (291,068) (604,558)
Accounts payable, accrued expenses and other liabilities (317,576) 151,411
Net cash used in operating activities (8,503,774) (6,648,025)
Cash flows provided by financing activities:    
Proceeds from the sale of common stock and warrants, net of issuance costs 31,094,302 10,827,100
Proceeds from the exercise of common stock warrants 2,201,450 8,038,603
Payment of financing costs 0 (833,428)
Net cash provided by financing activities 33,295,752 18,032,275
Net increase in cash and cash equivalents 24,791,978 11,384,250
Cash and cash equivalents at beginning of period 18,515,595 14,177,349
Cash and cash equivalents at end of period 43,307,573 25,561,599
Supplemental disclosure of non-cash investing and financing activities:    
Offering costs in accounts payable $ 0 $ 148,900