v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities:    
Net (Loss) Income $ (2,192,980) $ 13,453,207
Adjustments to Reconcile Net (Loss) Income to Net Cash (Used in) Provided by Operating Activities:    
Depreciation and Amortization of Intangible Assets 318 4,869
Reduction of Operating Lease Right-of-Use Assets 19,290 11,343
Stock-Based Compensation 148,616 175,443
Change in Fair Value of Contingent Consideration 275,192 (12,194)
Investment Income and Fair Value Adjustments on Marketable Securities and Cash Equivalents (23,953) 0
Changes in Operating Assets and Liabilities:    
Prepaid Expenses and Other Current Assets 454,932 12,651
Collaboration Receivables (736,407) (189,904)
Research Credit Receivables (668,916) 165,687
Tax Receivables 225,794 13,400
Other Assets (39,226) 1,112
Accounts Payable 1,171,627 124,975
Accrued Expenses (1,084,242) (124,391)
Accrued Collaboration Credit (241,894) 0
Operating Lease Liabilities (12,350) (11,343)
Net Cash (Used in) Provided by Operating Activities (2,704,199) 13,624,855
Investing Activities:    
Purchases of Marketable Securities (3,619,218) 0
Sales of Marketable Securities 80,000 0
Maturities of Marketable Securities 6,212,000 0
Net Cash Provided by Investing Activities 2,672,782 0
Financing Activities:    
Gross Proceeds from Private Placement 0 15,000,000
Exercise of Warrants 0 1,438,817
Net Cash Provided by Financing Activities 0 15,247,632
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash 10,143 (51,024)
Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash (21,274) 28,821,463
Cash, Cash Equivalents and Restricted Cash, Beginning of Period 3,796,379 2,458,951
Cash, Cash Equivalents and Restricted Cash, End of Period 3,775,105 31,280,414
Supplemental Disclosures of Noncash Operating and Financing Activities    
Creation of Right-of-Use Assets and Related Lease Liabilities 114,616 0
Equity Line Of Credit    
Financing Activities:    
Issuance Costs for Private Placement $ 0 $ (1,191,185)

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