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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net Loss $ (23,295,955) $ (28,728,191)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 330,484 364,445
Stock-based compensation expense 2,768,199 4,235,018
Gains from asset sales (178,200) (89,363)
Loss from disposal of assets 597,275 0
Change in estimate for legal contingency 3,250,000 0
Changes in assets and liabilities:    
Prepaid expenses 411,589 (1,061,850)
Right-of-use assets 170,368 0
Other current assets 372,454 1,476,121
Other assets 45,601 0
Accounts payable 2,244,988 2,584,507
Accrued payroll liabilities (578,908) (246,231)
Operating lease liability (237,950) (88,050)
Other current liabilities (1,579,536) 1,621,927
Net cash used in operating activities (15,679,591) (19,931,667)
Cash flows from investing activities:    
Proceeds from the sale of assets, net of sales costs 178,200 89,363
Maturities/(purchase) of short-term investments, net of maturities 17,858,939 (24,747,039)
Purchase of property and equipment 0 (6,312)
Cash from asset disposition 850 0
Net cash provided by (used in) investing activities 18,037,989 (24,663,988)
Cash flows from financing activities:    
Purchase under employee stock purchase plan 6,274 18,158
Repayment of insurance premium loan payable (178,813) 0
Net cash (used in) provided by in financing activities (172,539) 18,158
Net increase (decrease) in cash and cash equivalents 2,185,859 (44,577,497)
Cash and cash equivalents, beginning of period 5,882,498 68,415,741
Cash and cash equivalents, end of period 8,068,357 23,838,244
Cash paid during the year for:    
Interest 5,498 0
Income taxes 3,400 5,400
Supplemental disclosures of non-cash financing activities:    
Financing of D&O insurance premium $ 321,863 $ 0

Source

10-Q XBRL Zip