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 $ (10,401,295) $ (8,867,798)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 7,604 9,075
Non-cash lease adjustments 37,353 96,745
Vesting of restricted common stock issued for services 165,800
Stock-based compensation 548,175 308,376
Write-off of deferred offering costs 33,604
Accretion of discounts on available for sale debt securities, net (20,219) (132,925)
Loss on issuance of warrants 726,427
Warrant issuance costs 755,233
Change in fair value of warrant liability 2,127,379
Foreign currency remeasurement gain (80,836) (129,565)
Realized gain on redemptions of available for sale debt securities (22,634)
Realized loss on redemption of equity securities 38,962 142,248
Unrealized loss (gain) on equity securities 32,213 (167,389)
Changes in assets and liabilities:    
Prepaid expenses and other current assets (412,715) (62,133)
Accounts payable and accrued expenses (243,049) 611,731
Operating lease liabilities (38,824) (98,618)
Other assets 10,648
Net cash flows used in operating activities (6,713,540) (8,312,887)
INVESTING ACTIVITIES    
Purchase of property and equipment (1,159)
Purchases of marketable securities (8,440,696)
Redemptions of marketable securities 4,942,250 15,274,344
Net cash flows provided by investing activities 4,942,250 6,832,489
FINANCING ACTIVITIES    
Proceeds received from Offering, net of issuance costs 3,990,814
Proceeds received from stock option exercise 887
Net cash flows provided by financing activities 3,991,701
Effect of foreign exchange rates on cash 16,921 30,727
CHANGE IN CASH AND CASH EQUIVALENTS FOR THE PERIOD 2,237,332 (1,449,671)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 4,422,838 7,511,079
CASH AND CASH EQUIVALENTS, END OF PERIOD 6,660,170 6,061,408
Non-cash investing and financing activities:    
Offering costs in accounts payable and accrued expenses 102,618
Deferred offering costs in accounts payable and accrued expenses $ 10,000