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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (15,774,462) $ (10,344,633)
Adjustments to reconcile net loss to net cash used in operating activities    
Compensation cost for stock options granted 3,647,999 2,387,829
Disposal of assets 0 4,149
Depreciation and amortization 21,265 37,265
Changes in operating assets and liabilities:    
Prepaid expenses (69,295) (621,907)
Research and development tax rebate receivable (299,732) 300,451
Other assets 643,412 (152,781)
Accounts payable (920,625) 389,441
Accrued expenses (17,672) 7,285
Payroll liabilities (50,995) (146,573)
Other current liabilities 13,503 1,779
Net cash used in operating activities (12,806,602) (8,137,695)
CASH FLOWS FROM INVESTING ACTIVITY    
Purchase of furniture and equipment (9,396) (9,367)
Net cash used in investing activities (9,396) (9,367)
CASH FLOWS FROM FINANCING ACTIVITY    
Proceeds from issuance of common stock, net of issuance costs 0 4,686,298
Proceeds from issuance of common stock and warrants, net of issuance costs 69,668,408 0
Payment of taxes related to net-exercise of employee stock options (574,867) (14,422)
Proceeds from exercise of employee stock options 391,332 0
Proceeds from exercise of warrants 43,818,409 0
Net cash provided by financing activities 113,303,282 4,671,876
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 100,487,284 (3,475,186)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING BALANCE 39,663,671 12,691,136
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE 140,150,955 9,215,950
SUPPLEMENTAL DISCLOSURES    
Cash and cash equivalents 140,040,955 9,105,950
Restricted cash 110,000 110,000
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows 140,150,955 9,215,950
NONCASH INVESTING AND FINANCING ACTIVITIES    
Common stock issued upon cashless exercise of stock options 1,331,241 541,100
Reclassification of the warrant liability to equity upon adoption of accounting standard 13,003,075 0
Conversion of Series B Convertible Preferred Stock into Common Stock [Member]    
NONCASH INVESTING AND FINANCING ACTIVITIES    
Conversion of convertible preferred stock to common stock $ 37,000 $ 48,000