Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

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 loss $ (21,491,376) $ (18,767,410)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 2,255,696 1,820,856
Restricted stock issued for consulting expense 480,888 249,634
Change in fair value of warrant liability (535,408) (944,698)
Change in operating assets and liabilities:    
Prepaid expenses and other current assets 283,555 (340,814)
Accounts payable 2,078,368 1,658,232
Accrued expenses (1,444,125) 4,500,073
Net cash used in operating activities (18,372,402) (11,824,127)
Cash flows from financing activities:    
Proceeds from exercise of stock options 38,549 844
Proceeds from exercise of warrants 901,578
Proceeds from confidentially marketed public offering 33,008,813
Proceeds from At-The-Market offering 6,781,236
Payment of offering transactions costs (2,060,041) (498,429)
Net cash provided by financing activities 30,987,321 13,104,175
Net effect of foreign currency exchange on cash 65,981 10,390
Net increase in cash 12,680,900 1,290,438
Cash at beginning of period 8,658,031 9,601,298
Cash at end of period 21,338,931 10,891,736
Supplemental disclosure of cash flow information:    
Warrants issued in connection with private placement offering 1 2025 2,416,223
Warrants issued in connection with private placement offering 2 2025 1,240,185
Warrants issued in connection with private placement offering 3 2025 972,890
Warrants issued in connection with private placement offering 4 2025 559,324
Non-cash financing issuance related to shares issued for services to be rendered 1,000,000
Private Placement Offering One 2025 [Member]    
Cash flows from financing activities:    
Proceeds from private placement 2,715,000
Private Placement Offering Two 2025 [Member]    
Cash flows from financing activities:    
Proceeds from private placement 1,428,949
Private Placement Offering Three 2025 [Member]    
Cash flows from financing activities:    
Proceeds from private placement 1,079,998
Private Placement Offering Four 2025 [Member]    
Cash flows from financing activities:    
Proceeds from private placement $ 694,999