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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Cash flows from operating activities:              
Net loss $ (14,433,881) $ (15,046,132) $ (14,079,927) $ (14,307,829) $ (29,480,012) $ (28,387,756)  
Adjustment to reconcile to net loss to net cash used in operating activities:              
Depreciation and amortization expense 84,527   90,533   169,788 180,742  
Reduction in carrying amount of right-of-use assets         168,386 167,787  
Intangible asset amortization 7,317   7,317   14,633 14,633  
Stock-based compensation expense         3,217,210 3,136,507  
Net accretion of discount on marketable securities         0 (169,351)  
(Increase) decrease in:              
Prepaid expenses and other current assets         2,072,921 (539,236)  
Other assets         454,058 (193,644)  
Increase (decrease) in:              
Accounts payable         500,679 510,570  
Accrued expenses         (458,170) (1,416,812)  
Lease liabilities         (162,298) (150,946)  
Other liabilities         (23,957) (169,528)  
Net cash used in operating activities         (23,526,762) (27,017,034)  
Cash flows from investing activities:              
Purchases of property and equipment         (11,061) (70,251)  
Maturities of marketable securities         0 26,430,000  
Net cash (used in) provided by investing activities         (11,061) 26,359,749  
Cash flows from financing activities:              
Proceeds from exercise of stock options         2,055 732,458  
Proceeds from issuance of common stock under employee stock purchase plan         133,892 247,465  
Proceeds from issuance of common stock under at-the-market offering, net of offering expenses         13,676,667 0  
Payment of offering costs         (64,013) 0  
Net cash provided by financing activities         13,748,601 979,923  
Net (decrease) increase in cash and cash equivalents         (9,789,222) 322,638  
Cash and cash equivalents at beginning of period   $ 36,144,720   $ 59,405,817 36,144,720 59,405,817 $ 59,405,817
Cash and cash equivalents at end of period $ 26,355,498   $ 59,728,455   $ 26,355,498 $ 59,728,455 $ 36,144,720