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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 Income (Loss) $ (15,387,309) $ (14,850,943)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 19,705 170,830
Stock-based compensation expense 232,155 377,899
Non-cash consulting and marketing fees 0 17,280
Changes in operating assets and liabilities:    
Accounts receivable 0 39,881
Operating lease right-of-use assets 89,122 78,553
Prepaid expenses and other assets 698 (208,086)
Prepaid research and development 107,592 770,051
Accounts payable 1,329,135 (416,612)
Operating lease liabilities (95,009) (81,244)
Accrued expenses and other current liabilities (98,581) (540,221)
Net cash used in operating activities (13,802,492) (14,642,612)
Cash flows from investing activities    
Purchases of equipment and improvements 0 (14,238)
Purchases of investments - marketable securities (10,343,939) (20,629,391)
Maturities of investments - marketable securities 12,101,463 34,415,890
Net cash provided by investing activities 1,757,524 13,772,261
Cash flows from financing activities    
Proceeds from issuance of common stock, pre-funded warrants and warrants, net of issuance costs 3,793,209 8,543,107
Net cash provided by financing activities 3,793,209 8,543,107
Net (decrease) increase in cash and cash equivalents (8,251,759) 7,672,756
Cash and cash equivalents at beginning of period 9,165,179 7,188,553
Cash and cash equivalents at end of period 913,420 14,861,309
Supplemental disclosures of non-cash financing activities    
Non-cash financing costs 553,318 0
Supplemental disclosures of cash flow information    
Issuance costs $ 1,203,350 $ 1,456,479