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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net loss $ (37,610,384) $ (42,942,198)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 6,848,193 7,614,321
Issuance of shares in consulting agreement 267,000 1,021,000
Amortization of debt discount 1,156,905 652,006
Depreciation expense 21,112 17,359
Operating lease expense 0 160,685
Finance lease amortization expense 38,679 39,967
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (870,294) 165,672
Accounts payable (5,297,956) 5,763,537
Accrued expenses 416,522 (5,889,016)
Operating lease liabilities 0 (239,469)
Net cash used in operating activities (35,030,223) (33,636,136)
Cash flows from investing activities:    
Purchase of equipment (29,000) 0
Net cash used in investing activities (29,000) 0
Cash flows from financing activities:    
Proceeds from exercise of stock options 774,091 308,942
Payments of finance lease obligations (55,795) (59,300)
Payment of loan principal (3,125,000) 0
Proceeds from issuances of common stock, net of issuance costs 22,595,001 16,126,851
Net cash provided by financing activities 20,188,297 16,376,493
Net (decrease) increase in cash and cash equivalents (14,870,926) (17,259,643)
Cash and cash equivalents at beginning of period 56,560,517 73,820,160
Cash and cash equivalents at end of period 41,689,591 56,560,517
Supplemental information of cash and non-cash transactions:    
Cash paid for interest $ 3,556,662 $ 3,535,071