v3.26.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (16,427,331) $ (14,052,979)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of intangible assets 172,033 172,033
Stock based compensation - restricted stock units and restricted shares 538,219 912,667
Stock based compensation expense - stock options 2,027,090 842,638
Stock based compensation expense - issuance of common stock for services rendered 33,450
Amortization of financing costs 11,820
Accretion of unearned loan discount 111,212
Accretion of loan premium 25,758
Non-cash lease expense from right-of-use assets 56,743 49,448
Change in fair value of derivative liabilities (3,771)
Changes in operating assets and liabilities:    
Grant receivable (69,634)
Prepaid and other current assets (557,135) (365,135)
Accounts payable and accrued expenses (589,008) (1,111,072)
Operating lease liabilities (54,177) (43,807)
Net cash used in operating activities (14,903,200) (13,417,738)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from issuance of common stock 10,457,629 15,674,613
Proceeds from exercise of warrants 2,901,341
Payment of loan premium (850,000)
Payment of loan premium (5,000,000)
Net cash provided by financing activities 10,457,629 12,725,954
Net change in cash and cash equivalents (4,445,571) (691,784)
Cash and cash equivalents, beginning of period 17,544,547 23,843,798
Cash and cash equivalents, end of period 13,098,976 23,152,014
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 13,923 178,932
SUPPLEMENTAL DISCLOSURE OF NONCASH FINANCING ACTIVITIES:    
Deemed dividend for ratchet adjustment to warrants $ 43,544 $ 369,465