v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (7,964,158) $ (4,894,034)
Adjustments to reconcile net loss to net cash used in operating activities:    
Accretion of discount on marketable securities, net (70,104) (251,828)
Stock-based compensation expense 349,196 361,167
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (428,336) 201,613
Accounts payable 765,364 349,158
Accrued expenses and other current liabilities (1,097,293) (285,439)
Grant receivable 426,993 625,004
Net cash used in operating activities (8,018,338) (3,894,359)
Cash flows from investing activities:    
Purchase of marketable securities (989,180) (7,103,423)
Maturities of marketable securities 8,700,000 12,500,000
Net cash provided by investing activities 7,710,820 5,396,577
Cash flows from financing activities:    
Proceeds from the exercise of stock options 13,800 0
Net cash provided by financing activities 13,800 0
Net (decrease) increase in cash and cash equivalents (293,718) 1,502,218
Cash and cash equivalents at beginning of period 8,235,469 8,999,496
Cash and cash equivalents at end of period 7,941,751 10,501,714
Supplemental disclosure of non-cash investing and financing activities:    
Deferred offering costs in accrued expenses 120,000 0
Deferred offering costs in accounts payable 53,015 0
Unrealized loss on marketable securities $ (6,024) $ (34,974)