Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (18,204,264) $ (11,479,096)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 110,624 105,529
Stock-based compensation expense 746,342 353,081
Noncash lease expense 57,160 48,859
Loss on disposal of fixed assets 2,938  
Changes in:    
Prepaid expenses and other current assets (273,650) (189,955)
Lease liability (88,268) (77,897)
Accounts payable and accrued liabilities (408,708) 1,175,445
Cash used in operating activities (18,057,826) (10,064,034)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of fixed assets (11,622) (45,143)
Cash used in investing activities (11,622) (45,143)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock, net of underwriting issuance costs 34,874 18,258,581
Deferred issuance costs   (137,907)
Proceeds from long-term obligations   184,000
Issuance of common stock in connection with exercise of pre-funded warrants   28
Proceeds from exercise of warrants 1,213,924 31,697
Cash provided by financing activities 1,248,798 18,336,399
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (16,820,650) 8,227,222
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 57,165,377 10,614,722
CASH AND CASH EQUIVALENTS AT END OF PERIOD 40,344,727 18,841,944
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest expense   $ 1,584
Conversion of preferred stock to common stock $ 18,653,826