v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities:    
Net loss $ (5,653,244) $ (3,559,829)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization and depreciation 1,311 3,176
Non-cash lease expense 60,263 59,155
Share-based compensation 163,112 117,636
Issuance of common stock to vendors for services 30,000  
Change in fair value of convertible debt   (260,933)
Change in operating assets and liabilities:    
Contracts and grants receivable   171,254
Prepaid expenses and other current assets 714,169 621,542
Research and development incentives receivable   48,994
Operating lease liability (61,062) (59,344)
Accounts payable and accrued expenses 405,869 (231,089)
Accrued compensation (249,253) (170,871)
Net cash flows from operating activities (4,588,835) (3,260,309)
Investing activities:    
Purchases of office furniture and equipment (3,313)  
Net cash flows from investing activities (3,313)  
Financing activities:    
Proceeds from issuance of common stock pursuant to At Market Issuance Sales Agreement 3,243,177  
Proceeds from issuance of common stock and pre-funded warrants   4,741,400
Issuance costs associated with issuance of common stock   (524,226)
Proceeds from the exercise of warrants   8,600
Convertible debt repayments (1,372,873)  
Net cash flows from financing activities 1,870,304 4,225,774
Effect of exchange rate on cash and cash equivalents   916
Net increase (decrease) in cash and cash equivalents (2,721,844) 966,381
Cash and cash equivalents at beginning of year 7,819,514 8,446,158
Cash and cash equivalents at end of year 5,097,670 9,412,539
Supplemental information:    
Cash paid for state income taxes 89,557 33,665
Cash paid for interest 35,044 125,286
Cash paid for lease liabilities:    
Operating lease 69,750 68,200
Non-cash investing and financing activities:    
Pontifax conversion of portion of debt principal into common stock   254,256
Right-of-use assets obtained in exchange for lease liabilities 360,604  
Deferred issuance cost reclassified to additional paid-in capital $ 72,165  
Offering costs included in accounts payable   $ 100,839