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Condensed Consolidated Statements of Cash Flows
3 Months Ended 9 Months Ended
Sep. 30, 2023
USD ($)
Sep. 30, 2023
USD ($)
Sep. 30, 2022
USD ($)
Cash flows from operating activities:      
Net loss   $ (10,843,502) $ (110,219,885)
Adjustments to reconcile net loss to net cash used in operating activities:      
Acquired in-process research and development     72,523,293
Depreciation and amortization   2,066 6,788
Stockbased compensation   361,598 16,923,911
Amortization of right of use lease asset     182,042
Foreign currency gain $ 2,880 (39,686) (315,130)
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets   1,077,138 3,166,506
Accounts payable   21,873 (565,203)
Accrued expenses and other liabilities   982,563 (2,510,258)
Lease liability     (182,688)
Net cash used in operating activities   (8,437,950) (20,990,624)
Cash flows from investing activities:      
Purchases of property and equipment   (85,943)  
Net cash used in investing activities   (85,943)  
Cash flows from financing activities:      
Proceeds from issuance of common stock   5,788,918 584,447
Common stock issuance costs   (648,928)  
Net cash provided by financing activities   5,139,990 584,447
Change in cash and cash equivalents and restricted cash   (3,383,903) (20,406,177)
Effect of exchange rate changes on cash   (8,782) 442,726
Cash, cash equivalents and restricted cash-beginning of year   28,786,647 53,076,052
Cash, cash equivalents and restricted cash-end of period 25,393,962 25,393,962 33,112,601
Reconciliation of cash, cash equivalents and restricted cash      
Cash and cash equivalents 25,353,513 25,353,513 33,112,601
Restricted cash 40,449 40,449  
Total cash, cash equivalents and restricted cash $ 25,393,962 $ 25,393,962 33,112,601
Non-cash investing and financing activities:      
Operating lease liabilities arising from obtaining right-of-use assets     113,612
Issuance of convertible preferred stock and common stock in connection with acquisition     $ 70,107,167