v3.26.1
STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net loss $ (21,226,107) $ (14,880,787)
Adjustment to reconcile net loss to net cash used in operating activities:    
Depreciation 27,361 27,361
Stock-based compensation, including the issuance of restricted stock 4,290,315 2,663,539
Acquired in-process research and development 2,289,602 25,000
Changes in operating assets and liabilities:    
Collaboration receivable   7,500,000
Prepaids and other current assets 2,852,434 (4,899,109)
Accounts payable (527,006) 477,450
Accrued expenses 1,099,853 (1,498,215)
Deferred collaboration revenue 454,247 295,939
Net cash used in operating activities (10,739,301) (10,288,822)
Cash flows from investing activities:    
Purchase of in-process research and development assets (1,164,602) (25,000)
Net cash used in investing activities (1,164,602) (25,000)
Cash flows from financing activities:    
Proceeds from sale of common stock, net of offering costs 20,348,653 14,004,381
Payment of financing costs related to the 2023 Private Placement   (131,918)
Proceeds from subscription receivable   11,250
Proceeds from the exercise of stock options 38,274 1,975
Proceeds from the exercise of warrants   2,141,128
Net cash provided by financing activities 20,386,927 16,026,816
Net increase in cash and cash equivalents 8,483,024 5,712,994
Cash and cash equivalents as of beginning of the year 38,339,762 32,626,768
Cash and cash equivalents as of end of the year 46,822,786 $ 38,339,762
Supplemental disclosures of non-cash financing activities:    
In process research and development costs in accrued expenses $ 1,125,000