Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

v3.22.1
Condensed Statements of Cash Flows - USD ($)
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net loss $ (4,640,601) $ (2,637,068)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 123,229 591,124
Non-cash consulting fees 67,000 60,391
Non-cash PPP loan forgiveness 0 (27,550)
Warrant expense 0 237,768
Changes in operating assets and liabilities:    
Grants receivable 62,165 (332,774)
Prepaid expenses and other assets 337,653 200,581
Prepaid research and development (458,301) 61,682
Accounts payable (283,582) (1,008,447)
Accrued expenses and other current liabilities 858,240 (5,535)
Deferred revenue 0 (1,074,392)
Net cash used in operating activities (3,934,197) (3,934,220)
Financing activities    
Issuance of common stock from exercise of stock options 44,142 0
Repayments of note payable (248,911) (409,662)
Net cash used in financing activities (204,769) (409,662)
Net decrease in cash (4,138,966) (4,343,882)
Cash at beginning of period 40,750,133 13,953,513
Cash at end of period 36,611,167 9,609,631
Supplemental disclosures of cash flow information    
Cash paid for interest 973 11,797
Non-cash financing activities    
Insurance premium financing 0 1,361,916
Public offering costs $ 0 $ 2,783