v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities    
Net loss $ (13,399,274) $ (4,053,599)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization 1,634,486 42,325
Right-of-use asset - operating lease 516,895 471,003
Stock-based compensation expense 1,496,562 2,203,256
Loss on disposal of property and equipment 0 600,000
Non-cash royalty revenue related to sale of future royalties (6,298) 202
Non-cash interest expense 82,502 317,318
Changes in operating assets and liabilities:    
Accounts receivable (12,053) 0
Other receivables (331,026) 719,229
Prepaid expenses 668,486 3,598,565
Deposits 0 402,414
Other current assets (65,405) 0
Other non-current assets (78,723) 45,562
Operating lease liability (548,638) (459,763)
Accounts payable (255,146) (1,929,717)
Accrued expenses (2,250,627) 171,473
Interest payable 572,561 520,816
Deferred grant funding 3,089,828 2,824,471
Deferred revenue (1,000,000) 0
Net cash (used in) provided by operating activities (9,885,870) 5,473,555
Cash flows from investing activities    
Purchases of property and equipment (385,278) (573,046)
Net cash used in investing activities (385,278) (573,046)
Cash flows from financing activities    
Net proceeds from issuance of common stock 20,930,126 453,579
Payments of deferred offering costs (321,686) (79,308)
Repayment of liability on sale of future royalties 0 (2,189)
Issuance of note payable 486,721 561,663
Payments on note payable (553,829) (579,223)
Principal payments on finance lease (1,264,188) 0
Net cash provided by financing activities 19,277,144 354,522
Effect of exchange rate changes on cash and cash equivalents and restricted cash 7,186 (67,913)
Net change in cash, cash equivalents and restricted cash 9,013,182 5,187,118
Cash, cash equivalents and restricted cash, beginning of year 15,998,174 10,811,056
Cash, cash equivalents and restricted cash, end of year 25,011,356 15,998,174
Reconciliation of cash, cash equivalents and restricted cash to amounts reported in the consolidated balance sheets:    
Cash and cash equivalents 24,711,356 15,698,174
Restricted cash included in other non-current assets 300,000 300,000
Total cash, cash equivalents and restricted cash 25,011,356 15,998,174
Supplemental disclosure of non-cash investing and financing activities:    
Remeasurement of operating lease right-of-use assets and lease liabilities due to lease modification 407,534 358,315
Finance right-of-use assets obtained in exchange for new finance lease liabilities 2,841,027 0
Remeasurement of finance lease right-of-use assets and lease liabilities due to lease modification 82,736 0
Prepaid rent reclassified to finance lease right-of-use asset 458,850 0
Deferred issuance costs applied from prepayments made in the prior year 179,877 0
Issuance cost on equity paid in common stock 0 500,227
Additions to property and equipment and reduction of deposits $ 0 $ 749,036