v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (14,535,814) $ (11,152,438)
Adjustments to reconcile net loss to net cash used in operating activities:    
Accretion of discount on marketable securities, net (89,243) (486,494)
Stock-based compensation expense 711,471 858,182
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 533,287 (58,967)
Deferred offering costs 0 (163,354)
Accounts payable (767,007) 272,592
Accrued expenses and other current liabilities (1,216,450) 428,169
Grant receivable 426,993 (106,744)
Net cash used in operating activities (14,936,763) (10,409,054)
Cash flows from investing activities:    
Purchase of marketable securities (3,463,092) (16,858,416)
Maturities of marketable securities 13,700,000 22,000,000
Net cash provided by investing activities 10,236,908 5,141,584
Cash flows from financing activities:    
Proceeds from the exercise of stock options 13,800 0
Net cash provided by financing activities 18,926,963 4,588,687
Net (decrease) increase in cash and cash equivalents 14,227,108 (678,783)
Cash and cash equivalents at beginning of period 8,235,469 8,999,496
Cash and cash equivalents at end of period 22,462,577 8,320,713
Supplemental disclosure of non-cash investing and financing activities:    
Offering costs in accrued expenses 359,514  
Deferred offering costs in accounts payable 0 61,577
Unrealized loss on marketable securities (5,710) (56,980)
Private Placement [Member]    
Cash flows from financing activities:    
Proceeds from the issuance of common stock, net of issuance costs - 2026 Private Placement 9,685,402 0
2026 Registered Direct Offering [Member]    
Cash flows from financing activities:    
Proceeds from the issuance of common stock, net of issuance costs - 2026 Private Placement 9,227,761 0
Open Market Sales Agreement [Member]    
Cash flows from financing activities:    
Proceeds from the issuance of common stock, net of issuance costs - 2026 Private Placement $ 0 $ 4,588,687