v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 23,838,244 $ 68,415,741
Short-term investments 24,747,039 0
Prepaid expenses 1,263,812 201,962
Other current assets 733,423 2,209,544
Total current assets 50,582,518 70,827,247
Property and equipment, net 1,169,056 1,432,752
Operating lease right-of-use asset 355,427 449,864
Other assets 53,910 53,910
Total assets 52,160,911 72,763,773
Current liabilities    
Accounts payable 3,222,510 569,252
Accrued payroll liabilities 868,024 1,114,255
Other current liabilities 2,220,063 654,201
Estimate for accrued legal contingencies and related expenses 1,806,065 1,818,751
Operating lease liability, current portion 195,046 182,428
Total current liabilities 8,311,708 4,338,887
Non-current liabilities    
Operating lease liability, net of current portion 172,494 273,162
Total liabilities 8,484,202 4,612,049
Commitments and contingencies (Note 7)
Stockholders’ equity    
Preferred stock, $0.001 par value; 200,000 shares authorized at June 30, 2025 and December 31, 2024; no shares issued and outstanding at June 30, 2025 and December 31, 2024 $ 0 $ 0
Common stock, shares issued (in shares) 30,988,108 30,974,559
Common stock, $0.001 par value; 100,000,000 shares authorized at June 30, 2025 and December 31, 2024; 30,988,108 and 30,974,559 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively $ 30,988 $ 30,975
Additional paid-in-capital 203,323,584 199,070,421
Accumulated deficit (159,677,863) (130,949,672)
Total stockholders’ equity 43,676,709 68,151,724
Total liabilities and stockholders’ equity $ 52,160,911 $ 72,763,773
Common stock, shares outstanding (in shares) 30,988,108 30,974,559

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