v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating Activities:    
Net Loss $ (2,417,984) $ (2,192,980)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Depreciation and Amortization 10,563 318
Reduction of Operating Lease Right-of-Use Assets 31,416 19,290
Stock-Based Compensation 209,510 148,616
Change in Fair Value of Contingent Consideration 7,427 275,192
Investment Income and Fair Value Adjustments on Marketable Securities and Cash Equivalents 61,459 (23,953)
Changes in Operating Assets and Liabilities:    
Prepaid Expenses and Other Current Assets (221,213) 454,932
Collaboration Receivables (21,483) (736,407)
Tax and Other Receivables (235,647) (443,122)
Other Assets (27,706) (39,226)
Accounts Payable (303,026) 1,171,627
Accrued Expenses (389,063) (1,084,242)
Prepaid Collaboration Expenses/Accrued Collaboration Credit 176,368 (241,894)
Operating Lease Liabilities (41,953) (12,350)
Net Cash Used in Operating Activities (3,161,332) (2,704,199)
Investing Activities:    
Purchase of Property and Equipment (5,018) 0
Purchases of Marketable Securities 0 (3,619,218)
Sales of Marketable Securities 0 80,000
Maturities of Marketable Securities 5,406,000 6,212,000
Net Cash Provided by Investing Activities 5,400,982 2,672,782
Financing Activities:    
Taxes Paid Related to Net Share Settlement of Equity Awards (1,012) 0
Exercise of Warrants 170 0
Net Cash Used in Financing Activities (842) 0
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash 20,103 10,143
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 2,258,910 (21,274)
Cash, Cash Equivalents and Restricted Cash, Beginning of Period 8,701,136 3,796,379
Cash, Cash Equivalents and Restricted Cash, End of Period 10,960,046 3,775,105
Supplemental Disclosures of Noncash Operating and Financing Activities    
Creation of Right-of-Use Assets and Related Lease Liabilities 50,742 114,616
Grant of Restricted Stock Awards $ 433 $ 0

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