v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating Activities:    
Net (Loss) Income $ (4,318,633) $ 7,818,235
Adjustments to Reconcile Net (Loss) Income to Net Cash (Used in) Provided by Operating Activities:    
Depreciation and Amortization 14,293 13,293
Impairment of Intangible Assets 0 104,167
Reduction of Operating Lease Right-of-Use Assets 75,047 35,027
Stock-Based Compensation 665,788 496,413
In-Process R&D Impairment 0 2,008,000
Change in Fair Value of Contingent Consideration (1,308,067) (995,951)
Investment Income and Fair Value Adjustments on Marketable Securities and Cash Equivalents 7,064 (230,401)
Changes in Operating Assets and Liabilities:    
Prepaid Expenses and Other Current Assets 747,470 (250,169)
Collaboration Receivables (612,029) (1,783,472)
Tax Receivables (1,154,482) 1,717,152
Other Assets (32,617) 11,065
Accounts Payable 469,015 450,982
Accrued Expenses (2,571,553) 319,166
Accrued Collaboration Credit (945,267) 1,132,992
Deferred Collaboration Revenue 1,250,000 0
Operating Lease Liabilities (66,750) (35,026)
Net Cash (Used in) Provided by Operating Activities (7,780,721) 10,811,473
Investing Activities:    
Purchase of Property and Equipment (32,626) (51,287)
Purchases of Marketable Securities (8,175,851) (29,093,868)
Sales of Marketable Securities 305,000 150,000
Maturities of Marketable Securities 16,981,000 5,849,861
Net Cash Provided by (Used in) Investing Activities 9,077,523 (23,145,294)
Financing Activities:    
Gross Proceeds from Private Placement 0 14,998,865
Issuance Costs for Private Placement 0 (1,190,049)
Exercise of Warrants 265,359 1,689,339
Proceeds from Line of Credit 2,750,000 0
Repayments of Line of Credit (2,750,000) 0
Net Cash Provided by Financing Activities 265,359 15,498,155
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash 154,879 18,254
Net Increase in Cash, Cash Equivalents and Restricted Cash 1,717,040 3,182,588
Cash, Cash Equivalents and Restricted Cash, Beginning of Period 3,796,379 2,458,951
Cash, Cash Equivalents and Restricted Cash, End of Period 5,513,419 5,641,539
Supplemental Disclosures of Noncash Operating and Financing Activities    
Creation of Right-of-Use Assets and Related Lease Liabilities 335,280 0
Grant of Restricted Stock Awards 431 306
Tenant Improvements Paid Directly by Lessor $ 72,810 $ 0

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