XML 17 R7.htm IDEA: XBRL DOCUMENT v3.22.2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net loss $ (17,122,327) $ (12,310,287)
Adjustment to reconcile net loss to net cash used in operating activities:    
Stock based compensation 2,372,783 1,770,950
Depreciation and amortization 166,174 5,980
Changes in operating assets and liabilities:    
Receivable due from collaboration agreement (184,272) (489,221)
Research and development tax incentive receivable (78,257) (958,363)
Prepaid assets and other assets 939,995 285,090
Accounts payable 1,856,851 213,399
Accrued compensation (416,910)
Deferred revenue 218,000 685
Operating lease obligation (12,783)  
Net cash used in operating activities (12,260,746) (11,481,767)
Cash flows from investing activities:    
Purchases of property and equipment (632,684) (600,210)
Net cash used in investing activities (632,684) (600,210)
Cash flows from financing activities:    
Net proceeds from issuance of common stock 28,015,019
Payment of offering costs in connection with ATM (26,180)  
Proceeds from issuance of common stock for stock option exercises 10,185 689,753
Proceeds from issuance of common stock for warrant exercises 180,212
Net cash (used in) provided by financing activities (15,995) 28,884,984
Effect of exchange rate changes on cash and cash equivalents 5,006 (36,473)
Net change in cash and cash equivalents (12,904,419) 16,766,534
Cash and cash equivalents at beginning of period 33,794,672 35,300,805
Cash and cash equivalents at end of period 20,890,253 52,067,339
Supplemental disclosure of non-cash investing and financing activities:    
Accrued offering costs 133,209  
Cashless exercise of warrants $ 416
ROU asset obtained under for new operating lease $ 238,021