XML 18 R7.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities:    
Net loss $ (1,915,327) $ (1,046,109)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization and depreciation 1,588 1,785
Non-cash lease expense 29,265 26,936
Share-based compensation 59,961 73,634
Change in fair value of convertible debt (165,382)  
Amortization of deferred issuance costs associated with convertible debt   10,242
Change in operating assets and liabilities:    
Contracts and grants receivable 54,225 (102,878)
Prepaid expenses and other current assets 414,138 60,894
Research and development incentives receivable 17,379 98,456
Operating lease liability (29,359) (26,256)
Accounts payable and accrued expenses 391,929 (970,757)
Accrued compensation (200,899) (292,200)
Net cash used in operating activities (1,342,482) (2,166,253)
Financing activities:    
Proceeds from issuance of common stock pursuant to B. Riley At Market Issuance Sales Agreement   70,730
Convertible debt repayments   (1,000,000)
Net cash used in financing activities (8,992) (931,558)
Effect of exchange rate on cash and cash equivalents (3,136) 4,046
Net decrease in cash and cash equivalents (1,354,610) (3,093,765)
Cash and cash equivalents at beginning of period 8,446,158 13,359,615
Cash and cash equivalents at end of period 7,091,548 10,265,850
Supplemental information:    
Cash paid for state income taxes 17,965 2,110
Cash paid for interest 64,047 213,490
Cash paid for lease liabilities:    
Operating lease 34,100 33,325
Non-cash investing and financing activities:    
Pontifax conversion of portion of debt principal into common stock 99,416  
Deferred issuance cost reclassified to additional paid-in capital   53
Redemption liability for Series D preferred stock   43
Public offering costs included in accounts payable 123,689  
B. Riley Sales Agreement    
Financing activities:    
Stock issuance costs associated   $ (2,288)
Public Offering    
Financing activities:    
Stock issuance costs associated $ (8,992)