v3.21.2
Condensed Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net loss $ (5,273,247) $ (969,309)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 913,607 279,517
Non-cash consulting fees 60,391 75,000
Non-cash PPP loan forgiveness (27,550)  
Warrant expense 477,183 280,509
Changes in operating assets and liabilities:    
Grants receivable (586,581)  
Prepaid expenses and other assets (779,126) (5,640)
Prepaid research and development (184,423)  
Accounts payable (837,705) (211,076)
Accrued expenses and other current liabilities 239,837 209,149
Deferred revenue (2,183,122) 83,508
Net cash used in operating activities (8,180,736) (258,342)
Financing activities    
Proceeds from notes payable   272,800
Proceeds from issuance of common stock 41,149,608 4,870
Deferred initial public offering costs   (30,000)
Issuance of common stock from exercise of stock options 34,357  
Payment of employee taxes in connection with stock option exercise (77,652)  
Repayments of note payable (42,534)  
Net cash provided by financing activities 41,063,779 247,670
Net increase (decrease) in cash 32,883,043 (10,672)
Cash at beginning of period 13,953,513 18,457
Cash at end of period 46,836,556 7,785
Supplemental disclosures of cash flow information    
Cash paid for interest 19,608 3,132
Non-cash financing activities    
Notes payable settled with new notes payable   42,534
Notes payable settled with common stock   63,800
PPP loan forgiveness $ 27,550  
Accrued deferred initial public offering costs   $ 303,417

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