Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (4,660,811) $ (6,588,281)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense (non-cash) 862,173 1,423,643
Changes in operating assets and liabilities, net    
Other current assets 16,976 (27,219)
Accounts payable, accrued expenses and other current liabilities (628,297) (1,120,537)
Operating lease right-of-use assets and liabilities, net 4,238 0
Net cash used in operating activities (4,405,721) (6,312,394)
Cash flows from investing activities:    
Purchase of short-term investments (985,730) (7,891,330)
Maturities of short-term investments 985,730 9,848,643
Net cash provided by investing activities 0 1,957,313
Cash flows from financing activities:    
Cash proceeds from the sales of common stock under a Capital on DemandTM Sales Agreement 3,192,618 1,734,326
Exercise of stock options 84 0
Taxes paid related to net share settlement of vested restricted stock units (37,274) (41,647)
Net cash provided by financing activities 3,155,428 1,692,679
Effect of exchange rates 4,297 (8,439)
Net decrease in cash and cash equivalents (1,245,996) (2,670,841)
Cash and cash equivalents at beginning of period 7,266,080 8,186,194
Cash and cash equivalents at end of period $ 6,020,084 $ 5,515,353