v3.26.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Current Assets    
Cash and cash equivalents $ 24,711,356 $ 15,698,174
Prepaid expenses and other current assets 2,352,523 2,749,689
Total current assets 27,063,879 18,447,863
Property and equipment, net 1,558,890 1,335,732
Operating lease right-of-use assets 1,097,580 1,206,942
Finance lease right-of-use assets 1,744,775 0
Other non-current assets 1,009,439 1,110,594
Total assets 32,474,563 22,101,131
Current Liabilities    
Accounts payable 1,200,686 1,455,832
Accrued expenses 725,184 3,042,918
Deferred grant funding 19,651,452 16,561,625
Current portion of liability related to sale of future royalties 11,711 4,054
Current portion of lease liabilities (operating) 602,552 548,638
Current portion of lease liabilities (finance) 1,494,102 0
Total current liabilities 23,685,687 21,613,067
Deferred revenue, non-current 0 1,000,000
Liability related to the sale of future royalties, net 5,386,877 4,745,770
Lease liabilities long term (operating) 559,365 754,383
Total liabilities 29,631,929 28,113,220
Commitments and contingencies (Note 14)
Stockholders' equity (deficit)    
Preferred stock, $0.01 par value, 5,000,000 shares authorized; None issued and outstanding 0 0
Common stock, $0.0001 par value, 240,000,000 shares authorized, 14,499,502 and 8,700,386 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively 1,450 870
Additional paid-in capital 191,951,711 169,705,480
Accumulated other comprehensive loss (421,623) (428,809)
Accumulated deficit (188,688,904) (175,289,630)
Total stockholders' equity (deficit) 2,842,634 (6,012,089)
Total liabilities and stockholders' equity (deficit) $ 32,474,563 $ 22,101,131