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Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2024
Jun. 30, 2024
Dec. 31, 2023
Current assets:      
Cash and cash equivalents $ 28,120,029   $ 142,823,016
Cash equivalent - reverse repurchase agreements 40,000,000   0
Marketable securities 44,624,170   0
Prepaid expenses and other current assets 3,976,564   4,987,317
Total current assets 116,720,763   147,810,333
Deferred offering costs 267,261   0
Right-of-use assets 329,968   510,814
Fixed assets, net 1,360   5,764
Total assets 117,319,352   148,326,911
Current liabilities:      
Accounts payable 186,919   1,338,057
Accrued expenses 10,423,297   5,536,464
Current portion of debt 279,957   15,146,546
Operating lease liabilities 263,241   239,183
Deferred collaboration revenue 6,000,000   0
Total current liabilities 17,153,414   22,260,250
Deferred collaboration revenue, long term 0   6,000,000
Operating lease liabilities, long-term 70,234   271,631
Long-term debt, net of current portion 15,000,000   0
Total liabilities 32,223,648   28,531,881
Commitments and contingencies (Notes 3, 9, & 14)  
Stockholders' equity:      
Preferred stock, $0.001 par value, 15,000,000 shares authorized, none issued and outstanding 0   0
Common stock, $0.001 par value; 150,000,000 authorized and 59,549,598 and 59,195,951 shares issued and outstanding, respectively 59,550   59,196
Additional paid-in capital 519,271,439   513,994,982
Accumulated other comprehensive income 66,540   0
Accumulated deficit (434,301,825)   (394,259,148)
Total stockholders’ equity 85,095,704 $ 98,310,339 119,795,030
Total liabilities and stockholders’ equity $ 117,319,352   $ 148,326,911