v3.25.4
Condensed Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Cash Flows From Operating Activities:        
Net loss $ (11,034,339) $ (7,343,233) $ (8,979,381) $ (10,417,704)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization 157,149 138,687 189,056 165,735
Dividend and interest income (235,878) (492,476) (623,801) (569,068)
Stock-based compensation 2,877,766 2,636,941 2,812,566 7,782,967
Non-cash lease expense 111,750 151,447 90,313
Gain on exchange of warrants (1,711,698) (1,711,698)
Change in fair value of warrant liabilities (552,536) 837,466 (97,188) (3,997,780)
Changes in operating assets and liabilities:        
Accounts receivable 175,000 (145,700) (169,100) (3,300)
Prepaid expenses and other current assets 18,993 23,124 33,591 57,851
Accounts payable 357,070 211,990 293,680 18,487
Accrued expenses and other current liabilities (137,015) (29,449) 32,799 581,616
Lease liability (119,903) (162,317) (139,328)
Net Cash Used In Operating Activities (8,373,790) (5,882,501) (8,230,346) (6,430,211)
Cash Flows From Investing Activities:        
Sale of marketable securities 9,212,343 17,370,243 21,508,641 20,964,373
Purchase of marketable securities (2,679,147) (18,294,566) (20,887,923) (17,541,287)
Purchases of equipment (36,400) (93,755) (106,189) (171,043)
Net Cash Provided By Investing Activities 6,496,796 (1,018,078) 514,529 3,252,043
Cash Flows From Financing Activities:        
Net proceeds from issuance of common stock in at-the-market offering 2,011,250 494,783
Payment of issuance costs (72,805)    
Exercise of stock options 42,411    
Net proceeds from issuance of common stock in direct-offering     1,853,990
Proceeds from exchange and issuance of warrants, net 7,528,027 7,528,027 [1] [1]
Deferred offering costs (49,308) (22,381) (148,697)
Net Cash Provided By Financing Activities 1,931,548 7,505,646 7,379,330 2,348,773
Net Decrease In Cash and Cash Equivalents 54,554 605,067 (336,487) (829,395)
Cash and Cash Equivalents - Beginning of the Year 547,890 884,377 884,377 1,713,772
Cash and Cash Equivalents - End of the Year 602,444 1,489,444 547,890 884,377
Supplemental Disclosures of Cash Flow Information:        
Interest
Income taxes
Non-cash investing and financing activities:        
Return and cancellation of shares in lieu of payroll tax withholding 48,410 48,410 39,308
Issuance of common stock held in abeyance 6 15 $ 15
Reclassification of deferred offering costs 148,697    
Deferred offering costs included in accounts payable $ 19,758    
[1] Includes gross proceeds of $8,123,391, less issuance costs of $595,364.