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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities    
Net loss $ (19,379,450) $ (10,639,146)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 1,049,313 636,093
Amortization of right of use assets 322,854 271,455
Depreciation 4,088 1,427
Forgiveness of PPP loan (37,772)  
Deferred taxes 0 (37,842)
Non-cash interest on redeemable preferred stock 108,591 15,551
Current milestone payable to Patagonia Pharmaceuticals, LLC 1,750,000  
Changes in assets and liabilities:    
Prepaid research and development (459,317) 111,993
Other current assets 36,850 (44,941)
Deposits   (13,000)
Accounts payable 397,445 558,300
Accrued expenses 758,977 81,896
Other liabilites (73,683)  
Lease liability (332,817) (255,946)
Net cash used in operating activities (15,854,921) (9,314,160)
Cash flows from investing activities    
Purchases of equipment (7,084) (17,804)
Net cash used in investing activities (7,084) (17,804)
Cash flows from financing activities    
Proceeds from the issuance of common stock and warrants, net of issuance costs 7,989,892 15,791,810
Proceeds from the exercise of common stock warrants 144,000  
Net cash provided by financing activities 8,133,892 15,791,810
Net (decrease) increase in cash (7,728,113) 6,459,846
Cash, beginning of period 16,808,539 10,348,693
Cash, end of period 9,080,426 16,808,539
Non-cash investing and financing activities:    
Conversion of Redeemable Series A convertible preferred stock to prefunded common stock warrants 2,163,937  
Current milestone payable to Patagonia Pharmaceuticals LLC 1,750,000  
Accrued Series A preferred stock dividend   129,992
Cashless exercise of VAR's $ 60 6
Series A Warrants    
Non-cash investing and financing activities:    
Cashless exercise of warrants   2,060
Series B Warrants    
Non-cash investing and financing activities:    
Cashless exercise of warrants   $ 7,468