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 $ (17,099,631) $ (17,923,175)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 2,282,549 1,701,911
Issuance of shares in consulting agreements 0 203,501
Amortization of debt discount 714,386 1,386,606
Loss on retirement of debt 2,660,781 0
Depreciation expense 13,846 10,918
Finance lease depreciation expense 16,412 19,340
Changes in assets and liabilities:    
Prepaid expenses and other assets 540,897 (4,963,760)
Accounts payable 2,819,519 2,812,566
Accrued expenses 887,086 (1,381,286)
Net cash used in operating activities (7,164,155) (18,133,379)
Cash flows from financing activities:    
Proceeds from issuance of pre-funded warrants 0 1,009,969
Proceeds from exercise of pre-funded warrants 0 94
Proceeds from issuance of warrants 1,054,908 2,150,771
Payments of finance lease obligations (20,681) (29,862)
Loan principal payment (2,500,000) (4,166,667)
Loan repayment (17,738,889) (18,645,833)
Net proceeds from issuance of debt 4,322,500 19,237,880
Proceeds from issuance of common stock from at-the-market program, net of issuance costs 930,602 1,766,757
Proceeds from issuance of common stock, net of issuance costs 0 6,994,174
Net cash (used)/provided by financing activities (13,951,560) 8,317,283
Net increase in cash and cash equivalents (21,115,715) (9,816,096)
Cash and cash equivalents at beginning of period 26,711,969 41,689,591
Cash and cash equivalents at the end of period 5,596,254 31,873,495
Supplemental information of cash and non-cash transactions:    
Cash paid for interest $ 1,506,513 $ 1,581,846