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CONDENSED UNAUDITED INTERIM STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:      
Net loss   $ (13,845,250) $ (13,401,734)
Adjustment to reconcile net loss to net cash used in operating activities:      
Depreciation $ 2,807 5,614 13,680
Stock-based compensation, including the issuance of restricted stock   3,139,427 2,115,795
Acquired in-process research and development assets 1,656 11,656  
Changes in operating assets and liabilities:      
Prepaids and other current assets   (640,062) 2,298,347
Other assets   (120,441)  
Accounts payable   (96,044) (656,784)
Accrued expenses   (1,544,454) 1,450,625
Deferred collaboration revenue   (494,892) (421,500)
Net cash used in operating activities   (13,584,446) (8,601,571)
Cash flows from investing activities:      
Purchase of in-process research and development assets   (886,656)  
Net cash used in investing activities   (886,656)  
Cash flows from financing activities:      
Proceeds from sale of common stock, net of offering costs   10,953,604  
Payment of financing costs related to the ATM Offering Program   (124,286)  
Proceeds from the exercise of stock options     19,137
Net cash provided by financing activities   10,829,318 19,137
Net decrease in cash and cash equivalents   (3,641,784) (8,582,434)
Cash and cash equivalents as of beginning of the period   46,822,786 38,339,762
Cash and cash equivalents as of end of the period $ 43,181,002 43,181,002 $ 29,757,328
Supplemental disclosures of non-cash investing and financing activities:      
In-process research and development costs in accrued expenses   250,000  
Financing costs related to the ATM Offering Program in accounts payable   $ 120,441