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Condensed Balance Sheets - USD ($)
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 7,611,210 $ 21,716,077
Accounts receivable, net 378,290 98,906
Inventory, net 1,937,670 667,118
Prepaid and other current assets 1,370,523 695,879
Total current assets 11,297,693 23,177,980
Property and equipment, at cost:    
Leasehold improvements 1,238,886 1,212,417
Office equipment 67,231 47,308
Furniture and fixtures 433,584 414,303
Machinery and equipment 2,848,833 2,559,356
Construction in progress 548,149 423,077
Property and equipment, gross 5,136,683 4,656,461
Less accumulated depreciation (3,748,393) (3,545,422)
Net property and equipment 1,388,290 1,111,039
Long-term assets:    
Lease right-of-use assets, net 1,941,624 2,380,225
Intangible assets, net of accumulated amortization 70,064 0
Other long-term assets 887,410 1,086,581
Total long-term assets 2,899,098 3,466,806
Total assets 15,585,081 27,755,825
Current liabilities:    
Accounts payable 1,121,873 1,137,823
Accrued expenses 1,127,645 1,444,296
Clinical holdback - current portion 92,170 65,300
Lease liabilities - current portion 525,752 406,636
Total current liabilities 2,867,440 3,054,055
Long-term liabilities:    
Clinical holdback - long-term portion 36,081 54,935
Convertible notes payable, net (including related parties) 5,068,556 4,258,179
Lease liabilities - long-term portion 1,643,217 2,036,067
Total long-term liabilities 6,747,854 6,349,181
Total liabilities 9,615,294 9,403,236
Commitments and contingencies
Stockholders' equity:    
Common stock, $.001 par, 200,000,000 authorized, 22,350,022 shares issued and 22,232,799 outstanding as of September 30, 2024; and 21,774,604 shares issued and 21,657,381 outstanding as of December 31, 2023 22,350 21,775
Treasury stock, 117,223 common shares (60,000) (60,000)
Warrants 2,608,642 2,787,137
Additional paid-in-capital 125,473,368 123,985,306
Accumulated deficit (122,074,573) (108,381,629)
Total stockholders' equity 5,969,787 18,352,589
Total liabilities and stockholders' equity $ 15,585,081 $ 27,755,825