XML 40 R6.htm IDEA: XBRL DOCUMENT v3.25.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net loss $ (12,958,711) $ (14,286,756)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 22,318 7,052
Stockbased compensation 489,436 444,459
Issuance of common stock to consultant 17,435  
Foreign currency (gain) loss (71,800) 38,926
Changes in operating assets and liabilities:    
Prepaid expenses and other current and noncurrent assets (96,674) 451,994
Accounts payable (314,207) 827,463
Accrued expenses (115,541) (189,720)
Deferred grant revenue (528,974) 528,974
Net cash used in operating activities (13,556,718) (12,177,608)
Cash flows from investing activities:    
Purchases of property and equipment (15,478) (93,093)
Net cash used in investing activities (15,478) (93,093)
Cash flows from financing activities:    
Proceeds from issuance of common stock 16,140,356 5,788,918
Common stock issuance costs (1,318,461) (648,928)
Net cash provided by financing activities 14,821,895 5,139,990
Change in cash, cash equivalents and restricted cash 1,249,699 (7,130,711)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (7,181) (8,399)
Cash, cash equivalents and restricted cash-beginning of year 21,647,537 28,786,647
Cash, cash equivalents and restricted cash-end of period 22,890,055 21,647,537
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 22,849,885 21,606,820
Restricted cash 40,170 40,717
Total cash, cash equivalents and restricted cash $ 22,890,055 $ 21,647,537