Annual report pursuant to Section 13 and 15(d)

RESTATEMENT OF PREVIOUSLY ISSUED QUARTERLY FINANCIAL STATEMENTS - RESTATED CONSOLIDATED STATEMENTS OF OPERATIONS (Details)

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RESTATEMENT OF PREVIOUSLY ISSUED QUARTERLY FINANCIAL STATEMENTS - RESTATED CONSOLIDATED STATEMENTS OF OPERATIONS (Details) - USD ($)
 3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2023
Jun. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2023
Dec. 31, 2022
OPERATING EXPENSES:                        
Research and development $ 7,034,656 $ 6,135,010 $ 6,359,256 $ 5,210,825 $ 4,144,918 $ 3,703,831 $ 12,494,266       $ 27,266,276 $ 18,265,711
Research and development               $ 7,848,709 $ 19,528,898 $ 13,059,534    
General and administrative 2,378,804 2,158,992 2,346,045 2,604,661 3,290,606 2,436,396 4,505,037       11,694,367 10,548,062
General and administrative               5,727,042 6,883,866 8,331,703    
Total operating expenses 9,413,460 8,294,002 8,705,301 7,815,486 7,435,524 6,140,227 16,999,303 13,575,751 26,412,764 21,391,237 38,960,643 28,813,773
LOSS FROM OPERATIONS (9,413,460) (8,294,002) (8,705,301) (7,815,486) (7,435,524) (6,140,227) (16,999,303) (13,575,751) (26,412,764) (21,391,237) (38,960,643) (28,813,773)
OTHER INCOME (EXPENSE):                        
Warrant issuance expense (470,000)               (470,000)   (470,000) (6,824,605)
(Loss) gain on valuation of warrants (7,688,028) (1,957,418) 1,390,797 300,000 1,800,000 (100,000) (566,621) 1,700,000 (8,254,649) 2,000,000 (3,787,114) 3,633,241
Interest income 51,110 72,780 124,034 4,164 481 430 196,814 911 247,925 5,075 387,147 152,519
Total other income (expense), net (8,106,918) (1,884,638) 1,514,831 304,164 1,800,481 (99,570) (369,807) 1,700,911 (8,476,724) 2,005,075 (3,869,967) (3,038,845)
NET LOSS $ (17,520,378) $ (10,178,640) $ (7,190,470) $ (7,511,322) $ (5,635,043) $ (6,239,797) $ (17,369,110) $ (11,874,840) $ (34,889,488) $ (19,386,162) $ (42,770,610) $ (31,792,618)
BASIC NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS PER COMMON SHARE $ (1.55) $ (0.90) $ (0.64) $ (1.23) $ (0.92) $ (1.02) $ (1.54) $ (1.94) $ (3.09) $ (3.17) $ (3.50) $ (4.51)
DILUTED NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS PER COMMON SHARE $ (1.55) $ (0.90) $ (0.64) $ (1.23) $ (0.92) $ (1.02) $ (1.54) $ (1.94) $ (3.09) $ (3.17) $ (3.50) $ (4.51)
SHARES USED IN COMPUTING BASIC NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS PER COMMON SHARE 11,308,738 11,261,217 11,261,217 6,110,119 6,110,124 6,110,126 11,261,217 6,110,125 11,277,231 6,110,123 12,221,571 7,055,665
SHARES USED IN COMPUTING DILUTED NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS PER COMMON SHARE 11,308,738 11,261,217 11,261,217 6,110,119 6,110,124 6,110,126 11,261,217 6,110,125 11,277,231 6,110,123 12,221,571 7,055,665
As previously reported                        
OPERATING EXPENSES:                        
Research and development $ 7,312,504 $ 6,308,430 $ 6,654,094 $ 5,380,190 $ 4,498,657 $ 3,887,039 $ 12,962,524       $ 28,211,460 $ 19,219,603
Research and development               $ 8,385,656 $ 20,275,004 $ 13,765,846    
General and administrative 2,100,956 1,985,572 2,051,207 2,435,296 2,936,867 2,253,188 4,036,779       10,749,183 9,594,170
General and administrative               5,190,095 6,137,760 7,625,391    
Total operating expenses 9,413,460 8,294,002 8,705,301 7,815,486 7,435,524 6,140,227 16,999,303 13,575,751 26,412,764 21,391,237 38,960,643 28,813,773
LOSS FROM OPERATIONS (9,413,460) (8,294,002) (8,705,301) (7,815,486) (7,435,524) (6,140,227) (16,999,303) (13,575,751) (26,412,764) (21,391,237) (38,960,643) (28,813,773)
OTHER INCOME (EXPENSE):                        
Warrant issuance expense (470,000)               (470,000)   (470,000)  
(Loss) gain on valuation of warrants (3,900,000)               (3,900,000)   1,000,000  
Interest income 51,110 72,780 124,034 4,164 481 430 196,814 911 247,925 5,075 387,147 152,519
Total other income (expense), net (4,318,890) 72,780 124,034 4,164 481 430 196,814 911 (4,122,075) 5,075 917,147 152,519
NET LOSS $ (13,732,350) $ (8,221,222) $ (8,581,267) $ (7,811,322) $ (7,435,043) $ (6,139,797) $ (16,802,489) $ (13,574,840) $ (30,534,839) $ (21,386,162) $ (37,983,496) $ (28,601,254)
BASIC NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS PER COMMON SHARE $ (1.21) $ (0.73) $ (0.76) $ (1.28) $ (1.22) $ (1.00) $ (1.49) $ (2.22) $ (2.71) $ (3.50) $ (3.11) $ (4.05)
DILUTED NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS PER COMMON SHARE $ (1.21) $ (0.73) $ (0.76) $ (1.28) $ (1.22) $ (1.00) $ (1.49) $ (2.22) $ (2.71) $ (3.50) $ (3.11) $ (4.05)
SHARES USED IN COMPUTING BASIC NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS PER COMMON SHARE 11,308,738 11,261,217 11,261,217 6,110,119 6,110,124 6,110,126 11,261,217 6,110,125 11,277,231 6,110,123 12,221,571 7,055,665
SHARES USED IN COMPUTING DILUTED NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS PER COMMON SHARE 11,308,738 11,261,217 11,261,217 6,110,119 6,110,124 6,110,126 11,261,217 6,110,125 11,277,231 6,110,123 12,221,571 7,055,665
Restatement adjustments                        
OPERATING EXPENSES:                        
Research and development $ (277,848) $ (173,420) $ (294,838) $ (169,365) $ (353,739) $ (183,208) $ (468,258)       $ (945,184) $ (953,892)
Research and development               $ (536,947) $ (746,106) $ (706,312)    
General and administrative 277,848 173,420 294,838 169,365 353,739 183,208 468,258       945,184 953,892
General and administrative               536,947 746,106 706,312    
OTHER INCOME (EXPENSE):                        
Warrant issuance expense                       (6,824,605)
(Loss) gain on valuation of warrants (3,788,028) (1,957,418) 1,390,797 300,000 1,800,000 (100,000) (566,621) 1,700,000 (4,354,649) 2,000,000 (4,787,114) 3,633,241
Total other income (expense), net (3,788,028) (1,957,418) 1,390,797 300,000 1,800,000 (100,000) (566,621) 1,700,000 (4,354,649) 2,000,000 (4,787,114) (3,191,364)
NET LOSS $ (3,788,028) $ (1,957,418) $ 1,390,797 $ 300,000 $ 1,800,000 $ (100,000) $ (566,621) $ 1,700,000 $ (4,354,649) $ 2,000,000 $ (4,787,114) $ (3,191,364)
BASIC NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS PER COMMON SHARE $ (0.33) $ (0.17) $ 0.12 $ 0.05 $ 0.29 $ (0.02) $ (0.05) $ 0.28 $ (0.39) $ 0.33 $ (0.39) $ (0.45)
DILUTED NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS PER COMMON SHARE $ (0.33) $ (0.17) $ 0.12 $ 0.05 $ 0.29 $ (0.02) $ (0.05) $ 0.28 $ (0.39) $ 0.33 $ (0.39) $ (0.45)