v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (30,731,322) $ (29,480,012)
Adjustment to reconcile to net loss to net cash used in operating activities:    
Depreciation and amortization expense 165,856 169,788
Reduction in carrying amount of right-of-use assets 185,896 168,386
Intangible asset amortization 14,633 14,633
Stock-based compensation expense 3,264,584 3,217,210
Net accretion of discount on marketable securities (983,682) 0
(Increase) decrease in:    
Prepaid expenses and other current assets (4,675,501) 2,072,921
Other assets 5,440 454,058
Increase (decrease) in:    
Accounts payable 1,834,622 500,679
Accrued expenses (3,747,493) (458,170)
Lease liabilities (190,818) (162,298)
Other liabilities (77,052) (23,957)
Net cash used in operating activities (34,934,837) (23,526,762)
Cash flows from investing activities:    
Purchases of property and equipment (107,297) (11,061)
Purchases of marketable securities (83,983,577) 0
Maturities of marketable securities 31,500,000 0
Net cash used in investing activities (52,590,874) (11,061)
Cash flows from financing activities:    
Proceeds from exercise of stock options 35,043 2,055
Proceeds from issuance of common stock under employee stock purchase plan 170,325 133,892
Payment of offering and placement costs 0 (64,013)
Net cash provided by financing activities 205,368 13,748,601
Net decrease in cash and cash equivalents (87,320,343) (9,789,222)
Cash and cash equivalents at beginning of period 128,645,025 36,144,720
Cash and cash equivalents at end of period 41,324,682 26,355,498
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