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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 5,035,006 $ 15,698,174
Other receivables 188,116 229,982
Prepaid expenses 1,379,295 2,519,707
Total current assets 6,602,417 18,447,863
Property and equipment, net 1,651,656 1,335,732
Operating lease right-of-use assets 955,651 1,206,942
Finance lease right-of-use asset 2,699,899 0
Other non-current assets 1,069,902 1,110,594
Total assets 12,979,525 22,101,131
Current liabilities    
Accounts payable 1,762,600 1,455,832
Accrued expenses 2,523,603 3,042,918
Deferred grant funding 12,326,879 16,561,625
Current portion of liability related to the sale of future royalties 187,966 4,054
Current portion of lease liabilities, operating 588,478 548,638
Current portion of lease liability, finance 1,831,617 0
Total current liabilities 19,221,143 21,613,067
Deferred revenue, non-current 1,000,000 1,000,000
Liability related to the sale of future royalties, net 4,879,024 4,745,770
Lease liabilities long-term, operating 448,206 754,383
Lease liability long-term, finance 164,412 0
Total liabilities 25,712,785 28,113,220
Commitments and contingencies (Note 9)
Stockholders' deficit    
Preferred stock, $0.01 par value, 5,000,000 shares authorized; None issued and outstanding 0 0
Common stock, $0.0001 par value; 240,000,000 shares authorized; 9,030,386 and 8,700,386 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 903 870
Additional paid-in capital 171,353,083 169,705,480
Accumulated other comprehensive loss (402,826) (428,809)
Accumulated deficit (183,684,420) (175,289,630)
Total stockholders' deficit (12,733,260) (6,012,089)
Total liabilities and stockholders' deficit $ 12,979,525 $ 22,101,131