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Condensed Balance Sheets - USD ($)
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 17,835,968 $ 21,716,077
Accounts receivable, net 120,529 98,906
Inventory, net 971,297 667,118
Prepaid and other current assets 955,539 695,879
Total current assets 19,883,333 23,177,980
Property and equipment, at cost:    
Leasehold improvements 1,212,417 1,212,417
Office equipment 47,308 47,308
Furniture and fixtures 417,654 414,303
Machinery and equipment 2,582,220 2,559,356
Construction in progress 569,723 423,077
Property and equipment, gross 4,829,322 4,656,461
Less accumulated depreciation (3,615,405) (3,545,422)
Net property and equipment 1,213,917 1,111,039
Long-term assets:    
Lease right-of-use assets, net 2,227,561 2,380,225
Intangible assets, net of accumulated amortization 33,115 0
Other long-term assets 1,013,034 1,086,581
Total long-term assets 3,273,710 3,466,806
Total assets 24,370,960 27,755,825
Current liabilities:    
Accounts payable 1,095,730 1,137,823
Accrued expenses 673,457 1,444,296
Clinical holdback - current portion 93,376 65,300
Lease liabilities - current portion 494,967 406,636
Total current liabilities 2,357,530 3,054,055
Long-term liabilities:    
Clinical holdback - long-term portion 30,389 54,935
Convertible notes payable, net (including related parties) 4,472,456 4,258,179
Lease liabilities - long-term portion 1,902,991 2,036,067
Total long-term liabilities 6,405,836 6,349,181
Total liabilities 8,763,366 9,403,236
Commitments and contingencies
Stockholders' equity:    
Common stock, $.001 par, 200,000,000 authorized, 22,216,570 shares issued and 22,099,347 outstanding as of March 31, 2024; and 21,774,604 shares issued and 21,657,381 outstanding as of December 31, 2023 22,217 21,775
Treasury stock, 117,223 common shares (60,000) (60,000)
Warrants 2,631,838 2,787,137
Additional paid-in-capital 124,994,678 123,985,306
Accumulated deficit (111,981,139) (108,381,629)
Total stockholders' equity 15,607,594 18,352,589
Total liabilities and stockholders' equity $ 24,370,960 $ 27,755,825