v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (50,302,385) $ (20,793,855)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss on disposal of fixed assets 150,673  
Depreciation and amortization 891,728 688,341
Stock-based compensation 9,129,091 5,418,205
Restricted stock awards granted 257,461  
Changes in lease liabilities (33,688) (20,199)
Changes in operating assets and liabilities:    
Receivables 10,308,980 10,002,018
Prepaid expenses and other assets 198,243 107,172
Accounts payable and accrued expenses 2,844,166 (80,307)
Deferred revenue   (8,878,314)
Net cash used in operating activities (26,555,731) (13,556,939)
Cash flows from investing activities:    
Purchase of marketable securities (78,177,790) (49,283,647)
Proceeds from sales and maturities of marketable securities 119,207,807 55,222,000
Purchases of property and equipment (1,183,745) (668,928)
Payments for leasehold improvements (375,008) (76,295)
Payments for construction in progress (1,031,264)  
Net cash provided by investing activities 38,440,000 5,193,130
Cash flows from financing activities:    
Net proceeds from sale of common stock   4,276,093
Proceeds from exercise of stock awards and warrants 69,934 81,222
Net cash provided by financing activities 69,934 4,357,315
Net increase (decrease) in cash and cash equivalents 11,954,203 (4,006,494)
Cash and cash equivalents balance at beginning of period 11,286,996 14,694,857
Cash and cash equivalents balance at end of period $ 23,241,199 $ 10,688,363