v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (13,460,895) $ (15,046,132)
Adjustment to reconcile to net loss to net cash used in operating activities:    
Depreciation and amortization expense 81,402 85,261
Reduction in carrying amount of right-of-use assets 91,760 83,183
Intangible asset amortization 7,317 7,317
Stock-based compensation expense 1,636,675 1,692,267
Net accretion of discount on marketable securities (404,723) 0
(Increase) decrease in:    
Prepaid expenses and other current assets (1,180,990) 1,102,391
Other assets 5,434 548,902
Increase (decrease) in:    
Accounts payable (89,579) (687,871)
Accrued expenses (4,778,301) (1,608,683)
Lease liabilities (94,221) (80,139)
Other liabilities (247,323) (177,134)
Net cash used in operating activities (18,433,444) (14,080,638)
Cash flows from investing activities:    
Purchases of property and equipment (79,930) (8,945)
Purchases of marketable securities (71,990,845) 0
Maturities of marketable securities 9,000,000 0
Net cash used in investing activities (63,070,775) (8,945)
Cash flows from financing activities:    
Proceeds from exercise of stock options 10,435 0
Proceeds from issuance of common stock under employee stock purchase plan 170,325 133,892
Net cash provided by financing activities 180,760 13,810,559
Net decrease in cash and cash equivalents (81,323,459) (279,024)
Cash and cash equivalents at beginning of period 128,645,025 36,144,720
Cash and cash equivalents at end of period 47,321,566 35,865,696
Supplemental disclosures of noncash information:    
Deferred offering costs included in accounts payable and accrued expenses 0 64,015
At-the-market offering    
Cash flows from financing activities:    
Proceeds from issuance of common stock under at-the-market offering, net of issuance costs $ 0 $ 13,676,667