v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities:    
Net loss $ (4,894,034) $ (2,514,335)
Adjustments to reconcile net loss to net cash used in operating activities:    
Accretion of discount on marketable securities, net (251,828) 0
Stock-based compensation expense 361,167 218,215
Changes in operating assets and liabilities:    
Prepaid expenses, deposits and other assets 201,613 (116,334)
Grant receivable 625,004 915,404
Accounts payable 349,158 (230,403)
Accrued expenses and other liabilities (285,439) (268,696)
Deferred grant revenue 0 572,475
Net cash used in operating activities (3,894,359) (1,423,674)
Cash flows from investing activities:    
Purchase of marketable securities (7,103,423) 0
Maturities of marketable securities 12,500,000 0
Net cash provided by investing activities 5,396,577 0
Net increase (decrease) in cash and cash equivalents 1,502,218 (1,423,674)
Cash and cash equivalents at beginning of period 8,999,496 7,792,846
Cash and cash equivalents at end of period 10,501,714 6,369,172
Supplemental disclosure of non-cash investing and financing activities:    
Deferred offering costs in accounts payable and accrued expenses 0 247,671
Unrealized loss on marketable securities (34,974) 0
Stock options granted in lieu of cash bonus 0 255,724
Cashless exercise of prefunded warrants $ 0 $ 496