v3.26.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net income (loss) $ (15,402,825) $ (8,516,099)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Stock-based compensation expense 5,165,081 3,733,773
Net amortization of investment discounts and premiums (2,242,202) (337,953)
Changes in operating assets and liabilities, net    
Other current assets (371,126) (356,046)
In-process research and development accrued expenses 0 (3,000,000)
Accounts payable, accrued expenses and other current liabilities (44,934) (665,080)
Operating lease right-of-use assets and liabilities, net (25) (4,430)
Net cash provided by (used in) operating activities (12,896,031) (9,145,835)
Cash flows from investing activities:    
Purchase of short-term investments (124,769,640) (8,864,561)
Maturities of short-term investments 128,764,000 7,600,000
Net cash provided by (used in) investing activities 3,994,360 (1,264,561)
Cash flows from financing activities:    
Taxes paid related to net share settlement of vested restricted stock units (1,153,260) (519,631)
Cash proceeds from the issuance of stock upon exercise of stock options 891,900 20,371
Net proceeds from issuance of common stock and pre-funded warrants upon public offering, net of offering costs 0 127,772,915
Repurchase of common stock 0 (34,999,957)
Net cash provided by (used in) financing activities (261,360) 92,273,698
Net increase (decrease) in cash and cash equivalents (9,199,190) 81,861,071
Cash and cash equivalents at beginning of period 61,833,552 45,816,289
Cash and cash equivalents at end of period 52,634,362 127,677,360
Effect of exchange rate and valuation changes on cash equivalents (36,159) (2,229)
Supplemental disclosure of non-cash activities:    
Lease liability arising out of obtaining right-of-use asset 191,844 127,342
Accrued taxes related to net share settlement of vested restricted stock units 522,954 381,562
Accrued financing fees $ 0 $ 631,385