Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.25.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net loss $ (18,767,410) $ (19,682,718)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 1,820,856 1,219,301
Consulting and research expense for restricted shares issued 249,634 111,500
Change in fair value of warrant liability (944,698) 8,007,505
Loss on fair value of warrants over proceeds 12,952
Change in operating assets and liabilities:    
Prepaid expenses and other current assets (340,814) (227,368)
Australia research and development incentives receivable 92,551
Accounts payable 1,658,232 (488,135)
Accrued expenses 4,500,073 (841,874)
Net cash used in operating activities (11,824,127) (11,796,286)
Cash flows from financing activities:    
Proceeds from exercise of stock options 844 215,838
Proceeds from exercise of warrants 901,578
Proceeds from At-The-Market offering 6,781,236 8,522,666
Payment of offering transactions costs (498,429) (661,043)
Net cash provided by financing activities 13,104,175 13,331,146
Net effect of foreign currency exchange on cash 10,390 (5,229)
Net increase in cash 1,290,438 1,540,089
Cash at beginning of period 9,601,298 7,150,695
Cash at end of period 10,891,736 8,690,784
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
Warrants issued in connection with private placement offering 1 2024 2,049,600
Warrants issued in connection with private placement offering 2 2024 1,190,111
Warrants issued in connection with private placement offering 3 2024 677,919
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
Private Placement Offering One 2024 [Member]    
Cash flows from financing activities:    
Proceeds from private placement 2,920,696
Private Placement Offering Two 2024 [Member]    
Cash flows from financing activities:    
Proceeds from private placement 1,327,990
Private Placement Offering Three 2024 [Member]    
Cash flows from financing activities:    
Proceeds from private placement $ 1,004,999