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Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities:    
Net loss $ (4,092,384) $ (4,526,641)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 121,371 278,131
Amortization of premium and discount on marketable securities 50,578 13,546
Changes in operating assets and liabilities:    
Prepaid expenses, deposits and other assets (655,124) (495,903)
Accounts payable, accrued expenses and other liabilities (291,405) 28,146
Net cash used in operating activities (4,968,120) (4,729,813)
Cash flows used in investing activities:    
Purchases of marketable securities 0 (22,716,415)
Maturities of marketable securities 9,500,000 0
Net cash provided by (used in) investing activities 9,500,000 (22,716,415)
Cash flows provided by financing activities:    
Proceeds from the sale of series C preferred stock to related parties 0 5,000
Net cash provided by financing activities 0 5,000
Net increase (decrease) in cash and cash equivalents 4,531,880 (27,441,228)
Cash and cash equivalents at beginning of period 10,113,706 37,313,558
Cash and cash equivalents at end of period 14,645,586 9,872,330
Supplemental disclosure of non-cash financing activities:    
Unrealized gain (loss) on marketable securities $ 32,252 $ (49,658)