v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating Activities:    
Net Loss $ (4,496,994) $ (4,345,439)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Depreciation and Amortization 21,304 3,741
Reduction of Operating Lease Right-of-Use Assets 72,211 47,364
Stock-Based Compensation 318,820 411,390
Change in Fair Value of Contingent Consideration 96,841 412,966
Investment Income and Fair Value Adjustments on Marketable Securities and Cash Equivalents
Accretion of Discount on Marketable Securities (8,027) (98,425)
Change in Accrued Interest on Marketable Securities 78,912 65,886
Net Realized Gain on Marketable Securities (5) (1,759)
Change in Unrealized Gain on Cash Equivalents (14) (117)
Changes in Operating Assets and Liabilities:    
Prepaid Expenses and Other Current Assets (141,271) 440,532
Collaboration Receivables 431,384 (1,816,825)
Research and Development Tax Credit Receivables
Tax and Other Receivables (144,307) (396,514)
Prepaid Collaboration Expenses (59,743) (756,187)
Other Assets (24,823) (35,502)
Accounts Payable (681,518) 509,579
Accrued Expenses (433,423) (2,159,538)
Deferred Collaboration Revenue 0 1,250,000
Operating Lease Liabilities (82,613) (38,785)
Net Cash Used in Operating Activities (5,053,267) (6,507,633)
Investing Activities:    
Purchases of Property and Equipment (28,474) (32,195)
Purchases of Marketable Securities (9,122,681) (8,175,851)
Sales of Marketable Securities 0 305,000
Maturities of Marketable Securities 7,663,000 11,240,000
Net Cash (Used In) Provided by Investing Activities (1,488,155) 3,336,954
Financing Activities:    
Gross Proceeds from Private Placement 4,999,848 0
Issuance Costs for Private Placement (71,701) 0
Taxes Paid Related to Net Share Settlement of Equity Awards (10,328) 0
Exercise of Warrants 170 265,359
Proceeds from Line of Credit 0 1,000,000
Repayments of Line of Credit 0 (1,000,000)
Net Cash Provided by Financing Activities 4,917,989 265,359
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash 3,536 141,725
Net Decrease in Cash, Cash Equivalents and Restricted Cash (1,619,897) (2,763,595)
Cash, Cash Equivalents and Restricted Cash, Beginning of Period 8,701,136 3,796,379
Cash, Cash Equivalents and Restricted Cash, End of Period 7,081,239 1,032,784
Supplemental Disclosures of Noncash Operating and Financing Activities    
Creation of Right-of-Use Assets and Related Lease Liabilities 50,742 333,677
Conversion of Preferred Stock into Common Stock 0 0
Grant of Restricted Stock Awards 381 431
Tenant Improvements Paid Directly by Lessor $ 0 $ 72,810

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