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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 $ (1,773,831) $ (14,069,829)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation expense 25,535 20,658
Stock-based compensation expense 309,465 500,727
Non-cash gain on change in fair value of warrant liability (13,580) (200,416)
Amortization of discounts on marketable investment securities (579,290) (750,092)
Write off of contract asset due to variable consideration revenue reversal 3,121,995
Changes in operating assets and liabilities:    
Accrued interest income (39,228) 39,366
Contract asset 579,428
Prepaid and other current assets 184,600 351,222
Accounts payable (1,110,630) 500,680
Accrued expenses 73,799 62,575
Cash used in operating activities (2,923,160) (9,843,686)
Cash flows from investing activities:    
Purchase of property and equipment (80,067) (4,000)
Purchases of marketable investment securities (23,134,930) (13,537,970)
Maturities of marketable investment securities 24,900,000 23,900,000
Net cash provided by investing activities 1,685,003 10,358,030
Cash flows from financing activities:    
Net proceeds from sale of common stock through ATM 209,340 409,866
Cash provided by financing activities 209,340 409,866
Net increase (decrease) in cash and cash equivalents (1,028,817) 924,210
Cash and cash equivalents at beginning of period 4,771,758 3,148,496
Cash and cash equivalents at end of period 3,742,941 4,072,706
Supplemental disclosure of cash flow information:    
Income taxes paid 681 656
Supplemental disclosure of non-cash investing and financing activities:    
Net unrealized gain on available-for-sale securities 2,683 5,818
Issuance of Series B preferred stock $ 89