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Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 3,451,761 $ 21,716,077
Accounts receivable, net 488,373 98,906
Inventory 3,046,323 667,118
Prepaid and other current assets 1,035,993 695,879
Total current assets 8,022,450 23,177,980
Property and equipment, at cost:    
Leasehold improvements 1,238,886 1,212,417
Office equipment 60,921 47,308
Furniture and fixtures 417,876 414,303
Machinery and equipment 2,856,740 2,559,356
Construction in progress 762,445 423,077
Property and equipment, gross 5,336,868 4,656,461
Less accumulated depreciation (3,740,769) (3,545,422)
Net property and equipment 1,596,099 1,111,039
Long-term assets:    
Lease right-of-use assets, net 1,805,543 2,380,225
Intangible assets, net of accumulated amortization 65,918 0
Other long-term assets 954,992 1,086,581
Total long-term assets 2,826,453 3,466,806
Total assets 12,445,002 27,755,825
Current liabilities:    
Accounts payable 1,419,044 1,137,823
Accrued expenses 1,151,049 1,444,296
Convertible notes payable, net (including related parties) 5,406,228 0
Clinical holdback - current portion 88,581 65,300
Operating lease liabilities - current portion 517,967 406,636
Total current liabilities 8,582,869 3,054,055
Long-term liabilities:    
Clinical holdback - long-term portion 39,611 54,935
Convertible notes payable, net (including related parties) 0 4,258,179
Operating lease liabilities - long-term portion 1,518,100 2,036,067
Total long-term liabilities 1,557,711 6,349,181
Total liabilities 10,140,580 9,403,236
Commitments and contingencies
Stockholders' equity:    
Common stock, $0.001 par, 200,000,000 authorized, 23,473,149 shares issued and 23,355,926 outstanding as of December 31, 2024; and 21,774,604 shares issued and 21,657,381 outstanding as of December 31, 2023 23,473 21,775
Treasury stock, 117,223 common shares (60,000) (60,000)
Warrants 1,860,008 2,787,137
Additional paid-in-capital 127,679,198 123,985,306
Accumulated deficit (127,198,257) (108,381,629)
Total stockholders' equity 2,304,422 18,352,589
Total liabilities and stockholders' equity $ 12,445,002 $ 27,755,825