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STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net loss $ (17,131,581) $ (30,883,794)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 530,922 469,829
Accretion income on available-for-sale marketable securities, net 0 5,229
Loss on asset disposal 0 5,145
Stock-based compensation 1,833,579 2,954,900
Non-cash lease expense 263,815 245,917
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 472,188 (1,782,778)
Accounts payable (1,794,864) 286,999
Accrued expenses (2,211,999) 732,331
Operating lease liabilities (275,641) (233,292)
Net cash used in operating activities (18,313,581) (28,199,514)
Cash flows from investing activities    
Purchase of property and equipment (47,739) (468,426)
Purchase of marketable securities 0 (21,509,940)
Proceeds from maturities of available-for-sale marketable securities 0 59,000,000
Proceeds from redemption of available-for-sale marketable securities 0 1,500,000
Net cash (used in) provided by investing activities (47,739) 38,521,634
Cash flows from financing activities    
Proceeds from the exercise of stock options 0 33,255
Net cash provided by financing activities 0 33,255
Net (decrease) increase in cash, cash equivalents and restricted cash (18,361,320) 10,355,375
Cash, cash equivalents and restricted cash at beginning of period 34,697,340 30,393,852
Cash, cash equivalents and restricted cash at end of period 16,336,020 40,749,227
Supplemental disclosure of noncash investing and financing activities:    
Property and equipment purchases included in accounts payable and accrued expenses $ 0 $ 375,118