v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net loss $ (1,954,683) $ (2,027,579)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 139,299 225,030
Amortization of held-to-maturity securities, net (3,390) (9,999)
Amortization of debt issuance costs 7,381 11,762
Foreign currency exchange (gain) loss, net (9,591) 7,072
Changes in operating assets and liabilities:    
Interest receivable 22,706 1,035
Accounts receivable 89,375 15,278
Prepaid expenses and other current assets 44,908 92,202
Operating lease assets and liabilities (442) 5
Accounts payable 222,697 (42,585)
Accrued expenses 98,688 (47,982)
Accrued interest - related party (5,373)
Deferred research and development obligation (620,282) (168,597)
Net cash used in operating activities (1,963,334) (1,949,731)
Cash flows from investing activities    
Purchases of held-to-maturity investment securities (566,547) (1,458,896)
Proceeds from maturities of investment securities 1,832,743 1,941,000
Net cash provided by investing activities 1,266,196 482,104
Cash flows from financing activities    
Proceeds from exercise of stock options 24,249
Net cash provided by financing activities 24,249
Effect of exchange rate changes on cash (633) 1,569
Net decrease in cash, cash equivalents, and restricted cash (697,771) (1,441,809)
Cash, cash equivalents, and restricted cash at beginning of period 5,853,499 6,506,750
Cash, cash equivalents, and restricted cash at end of period 5,155,728 5,064,941
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets    
Cash and cash equivalents 4,247,269 5,064,941
Restricted cash 908,459
Total cash, cash equivalents, and restricted cash 5,155,728 5,064,941
Supplemental cash flow information    
Vesting of restricted stock units 175,242 231,621
Cash paid for interest $ 101,800 $ 107,173