v3.26.1
CONDENSED UNAUDITED INTERIM STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (7,206,990) $ (7,306,757)
Adjustment to reconcile net loss to net cash used in operating activities:    
Depreciation 2,807 6,840
Stock-based compensation, including the issuance of restricted stock 2,195,516 1,080,082
Acquired in-process research and development assets 10,000  
Changes in operating assets and liabilities:    
Prepaids and other current assets 578,196 3,126,042
Accounts payable (154,713) 101,879
Accrued expenses (1,382,199) 421,523
Deferred collaboration revenue (251,147) (257,884)
Net cash used in operating activities (6,208,530) (2,828,275)
Cash flows from investing activities:    
Purchase of in-process research and development assets (885,000)  
Net cash used in investing activities (885,000)  
Cash flows from financing activities:    
Proceeds from sale of common stock, net of offering costs 10,995,387  
Proceeds from the exercise of stock options   19,137
Net cash provided by financing activities 10,995,387 19,137
Net increase (decrease) in cash and cash equivalents 3,901,857 (2,809,138)
Cash and cash equivalents as of beginning of the period 46,822,786 38,339,762
Cash and cash equivalents as of end of the period 50,724,643 $ 35,530,624
Supplemental disclosures of non-cash investing and financing activities:    
Financing costs related to the sale of common stock in accounts payable 41,783  
In-process research and development costs in accrued expenses $ 250,000