XML 27 R5.htm IDEA: XBRL DOCUMENT v3.23.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating expenses:    
Research and development $ 31,008,151 $ 21,995,291
Acquired in-process research and development 0 5,103,753
General and administrative 11,008,900 9,662,875
Total operating expenses 42,017,051 36,761,919
Loss from operations (42,017,051) (36,761,919)
Other income (expense):    
Interest income 501,228 22,707
Interest expense (2,667,289) (47,188)
Loss on extinguishment of convertible note payable (20,303) 0
Change in fair value of derivative liability 437,000 7,000
Total other income (expense), net (1,749,364) (17,481)
Loss before income taxes (43,766,415) (36,779,400)
Income tax benefit 0 0
Net loss $ (43,766,415) $ (36,779,400)
Net loss per common share, basic (in dollars per share) [1] $ (3.38) $ (3.03)
Net loss per common share, diluted (in dollars per share) [1] $ (3.38) $ (3.03)
Weighted-average common shares, basic (in shares) [1] 12,955,577 12,155,429
Weighted-average common shares, diluted (in shares) [1] 12,955,577 12,155,429
[1]
1Amounts have been retroactively restated to reflect the 1-for-20 reverse
stock-split effected on October 17, 2022 (see Note 1)