v3.25.1
Scroll to view
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Operating Activities | ||
| Net Income (Loss) | $ 3,594,733 | $ (12,513,896) |
| Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by (Used in) Operating Activities: | ||
| Closure of EyeGate Pharma S.A.S. Subsidiary | 0 | (53,882) |
| Depreciation and Amortization of Intangible Assets | 19,205 | 51,798 |
| Impairment of Intangible Assets | 104,167 | 0 |
| Reduction of Right-of-Use Assets | 46,500 | 10,626 |
| Stock-Based Compensation | 656,593 | 754,944 |
| Impairment of In-Process R&D | 2,008,000 | 1,904,314 |
| Change in Fair Value of Contingent Consideration | (937,469) | 1,992,399 |
| Accretion of Discount on Marketable Securities | (283,474) | 0 |
| Change in Accrued Interest on Marketable Securities | (25,811) | 0 |
| Net Realized Gain on Marketable Securities | (4,519) | 0 |
| Change in Unrealized Gain on Cash Equivalents | 119 | 0 |
| Deferred Taxes | (288,750) | 90,319 |
| Loss on Disposal of Assets | 3,760 | 28,379 |
| Changes in Operating Assets and Liabilities: | ||
| Prepaid Expenses and Other Current Assets | (1,823,897) | 885 |
| Collaboration Receivable | (601,197) | 0 |
| Tax and Other Receivables | 1,634,464 | (548,109) |
| Other Assets | 15,231 | (7,583) |
| Accounts Payable | 226,119 | (808,016) |
| Accrued Expenses | 3,280,730 | (459,713) |
| Accrued Collaboration Credit | 981,111 | 0 |
| Operating Lease Liabilities | (46,500) | 584 |
| Net Cash Provided by (Used in) Operating Activities | 8,559,115 | (9,556,951) |
| Investing Activities: | ||
| Purchases of Property and Equipment | (6,256) | 0 |
| Purchases of Marketable Securities | (35,632,375) | 0 |
| Sales of Marketable Securities | 1,338,256 | 0 |
| Maturities of Marketable Securities | 11,637,764 | 0 |
| Net Cash Used in Investing Activities | (22,662,611) | 0 |
| Financing Activities: | ||
| Gross Proceeds from Private Placement | 14,998,865 | 200,000 |
| Exercise of Warrants | 1,689,339 | 307,079 |
| Payment of Contingent Consideration | 0 | (495,000) |
| Net Cash Provided by Financing Activities | 15,498,155 | 5,966,066 |
| Effect of Exchange Rate Changes on Cash | (57,231) | 36,020 |
| Net Increase (Decrease) in Cash and Cash Equivalents | 1,337,428 | (3,554,865) |
| Cash and Cash Equivalents, Including Restricted Cash, Beginning of Year | 2,458,951 | 6,013,816 |
| Cash and Cash Equivalents, Including Restricted Cash, End of Year | 3,796,379 | 2,458,951 |
| Supplemental Disclosures of Noncash Operating and Financing Activities: | ||
| Creation of Right-of-Use Assets and Related Lease Liabilities | 0 | 114,747 |
| Grant of Restricted Stock Awards | 306 | 2,701 |
| Series F Preferred Stock | ||
| Supplemental Disclosures of Noncash Operating and Financing Activities: | ||
| Conversion of Series F Preferred Stock into Common Stock | 0 | 31,706 |
| Public Offering | ||
| Financing Activities: | ||
| Proceeds from issuance of common stock, net of offering costs | 0 | 6,325,000 |
| Issuance Costs | 0 | (729,038) |
| Equity Line Of Credit | ||
| Financing Activities: | ||
| Proceeds from issuance of common stock, net of offering costs | 0 | 442,310 |
| Issuance Costs | $ (1,190,049) | $ (84,285) |
Scroll to view
| X | ||||||||||
- Definition Amount of increase (decrease) in the value of a contingent consideration liability, including, but not limited to, differences arising upon settlement. No definition available. Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition Change In Unrealized (Gain) Loss on Cash Equivalents No definition available. Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition Amount grant of restricted stock awards. No definition available. Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition Increase (Decrease) in Accrued Collaboration Credit No definition available. Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition Increase (Decrease) in Accrued Interest on Marketable Securities No definition available. Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition Represents increase decrease right-of-use assets. No definition available. Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition The sum of the periodic adjustments of the differences between securities' face values and purchase prices that are charged against earnings. This is called accretion if the security was purchased at a discount and amortization if it was purchased at premium. As a noncash item, this element is an adjustment to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef Scroll to view
|
Scroll to view
| X | ||||||||||
- References No definition available. Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition Amount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage. Excludes amount for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition Amount of increase (decrease) in cash, cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; including effect from exchange rate change. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition The value of the stock converted in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition Amount of deferred income tax expense (benefit) and income tax credits. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition Amount of increase (decrease) from effect of exchange rate changes on cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; held in foreign currencies. Excludes amounts for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition Amount of gain (loss) on sale or disposal of assets, including but not limited to property plant and equipment, intangible assets and equity in securities of subsidiaries or equity method investee. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition Amount of gain (loss) on sale or disposal of equity in securities of subsidiaries. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition The amount of impairment loss recognized in the period resulting from the write-down of the carrying amount of a finite-lived intangible asset to fair value. Reference 1: http://www.xbrl.org/2003/role/disclosureRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition Amount of impairment loss resulting from write-down of assets, excluding financial assets and goodwill, lacking physical substance and having a projected indefinite period of benefit to fair value. Reference 1: http://www.xbrl.org/2003/role/disclosureRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition The increase (decrease) during the reporting period in income taxes receivable, which represents the amount due from tax authorities for refunds of overpayments or recoveries of income taxes paid. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef Scroll to view
|
Scroll to view
| X | ||||||||||
- References No definition available. Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition Amount of increase (decrease) in obligation for operating lease. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition Amount of increase (decrease) in operating assets classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition Amount of increase (decrease) in prepaid expenses, and assets classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition Amount of realized gain (loss) on investment in marketable security. No definition available. Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/disclosureRef Scroll to view
|
Scroll to view
| X | ||||||||||
- References No definition available. Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef Scroll to view
|
Scroll to view
| X | ||||||||||
- References No definition available. Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef Scroll to view
|
Scroll to view
| X | ||||||||||
- References No definition available. Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef Scroll to view
|
Scroll to view
| X | ||||||||||
- References No definition available. Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition Amount of cash outflow, not made soon after acquisition date of business combination, to settle contingent consideration liability up to amount recognized at acquisition date, including, but not limited to, measurement period adjustment and less amount paid soon after acquisition date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition The cash outflow for cost incurred directly with the issuance of an equity security. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition Amount of cash outflow to acquire investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). Reference 1: http://www.xbrl.org/2003/role/disclosureRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition The cash inflow from the additional capital contribution to the entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition The cash inflow associated with the amount received from entity's raising of capital via private rather than public placement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition Amount of cash inflow from maturity, prepayment and call of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition Amount of cash inflow from sale of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). Reference 1: http://www.xbrl.org/2003/role/disclosureRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition The cash inflow associated with the amount received from holders exercising their stock warrants. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition Amount of increase in right-of-use asset obtained in exchange for operating lease liability. Reference 1: http://www.xbrl.org/2003/role/exampleRef Scroll to view
|
Scroll to view
| X | ||||||||||
- Definition Amount of noncash expense for share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef Scroll to view
|
Scroll to view
Scroll to view