v3.22.4
Condensed Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
Dec. 31, 2020
Operating activities        
Net loss $ (13,775,103) $ (9,744,444) $ (14,786,063) $ (2,847,894)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation 1,681 0    
Stock-based compensation expense 357,784 1,266,026 1,531,876 573,695
Noncash lease expense 20,818 0    
Noncash consulting fees 67,000 60,391 60,391 148,795
Non-cash interest     0 17,260
Noncash PPP loan forgiveness 0 (27,550) (27,550) 0
Warrant expense 0 658,945 688,784 1,443,426
Changes in operating assets and liabilities:        
Accounts receivable 96,299 (217,482) (110,141)  
Prepaid expenses and other current assets 996,801 (486,551) (1,447,888) (37,913)
Prepaid research and development (825,419) 509,975 667,356 0
Accounts payable (308,555) (1,166,879) (630,902) (247,071)
Accrued expenses and other current liabilities (449,718) 1,272,076 2,082,827 (1,076,758)
Deferred revenue 23,683 (2,325,741) (2,325,741) 897,105
Net cash used in operating activities (13,794,729) (10,201,234) (14,297,051) (1,129,355)
Investing activities        
Purchases of investments - marketable securities (20,725,462) 0    
Purchases of equipment and improvements (243,255) 0    
Net cash used in investing activities (20,968,717) 0    
Financing activities        
Proceeds from notes payable     0 272,800
Proceeds from issuance of common stock 0 41,135,357 0 4,870
Issuance of common stock from exercise of stock options 44,142 78,500 78,500 0
Payment of employee taxes in connection with stock option exercise 0 (77,652) (77,652) 0
Proceeds from issuance of common stock upon initial public offering, net of issuance costs     41,135,357 14,786,741
Repayments of notes payable (248,911) (42,534) (42,534) 0
Net cash (used in) provided by financing activities (204,769) 41,093,671 41,093,671 15,064,411
Net (decrease) increase in cash and cash equivalents (34,968,215) 30,892,437 26,796,620 13,935,056
Cash and cash equivalents at beginning of period 40,750,133 13,953,513 13,953,513 18,457
Cash and cash equivalents at end of period 5,781,918 44,845,950 40,750,133 13,953,513
Supplemental disclosures of cash flow information        
Cash paid for interest 973 19,608 1,148 6,249
Non-cash financing activities        
Notes payable settled with common stock     0 505,230
Notes payable settled with new notes payable     $ 0 $ 42,534
PPP loan forgiveness $ 0 $ 27,550