v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities:    
Net loss $ (11,152,438) $ (4,831,240)
Adjustments to reconcile net loss to net cash used in operating activities:    
Accretion of discount on marketable securities, net (486,494) (338,208)
Stock-based compensation expense 858,182 796,796
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (58,967) (1,028,399)
Deferred offering costs (163,354) 0
Accounts payable 272,592 63,383
Accrued expenses and other current liabilities 428,169 (604,556)
Grant receivable (106,744) 915,404
Deferred grant revenue 0 1,401,501
Net cash used in operating activities (10,409,054) (3,625,319)
Cash flows from investing activities:    
Purchase of marketable securities (16,858,416) (40,570,256)
Maturities of marketable securities 22,000,000 0
Net cash provided by (used in) investing activities 5,141,584 (40,570,256)
Cash flows from financing activities:    
Proceeds from the sale of common stock, prefunded warrants and common stock warrants, net of offering costs 0 46,411,946
Net cash provided by financing activities 4,588,687 46,411,946
Net increase (decrease) in cash and cash equivalents (678,783) 2,216,371
Cash and cash equivalents at beginning of period 8,999,496 7,792,846
Cash and cash equivalents at end of period 8,320,713 10,009,217
Supplemental disclosure of non-cash investing and financing activities:    
Unrealized loss on marketable securities (56,980) 19,702
Stock options granted in lieu of cash bonus 0 255,724
Deferred offering costs in accounts payable and accrued expenses 61,577 13,385
Cashless exercise of prefunded warrants 0 496
Open Market Sales Agreement [Member]    
Cash flows from financing activities:    
Sale of common stock under Open Market Sales Agreement, net of issuance costs $ 4,588,687 $ 0