v3.22.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net loss $ (7,435,043) $ (6,028,030) $ (13,574,840) $ (12,385,200)
Adjustments to reconcile net loss to cash used in operating activities:        
Depreciation and amortization     77,316 73,835
Stock-based compensation expense 419,953 200,617 723,758 325,181
Noncash lease expense     43,533 37,372
Loss on disposal of fixed assets     3,386 2,938
Changes in:        
Prepaid expenses and other current assets     387,817 427,403
Lease liability     (65,684) (58,110)
Accounts payable and accrued liabilities     1,607,353 (52,180)
Cash used in operating activities     (10,797,361) (11,628,761)
CASH FLOWS FROM INVESTING ACTIVITIES:        
Purchases of fixed assets     (101,049) (7,559)
Cash used in investing activities     (101,049) (7,559)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Proceeds from issuance of common stock, net of underwriting issuance costs       34,874
Proceeds from exercise of warrants       1,213,924
Cash provided by financing activities       1,248,798
NET DECREASE IN CASH AND CASH EQUIVALENTS     (10,898,410) (10,387,522)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD     35,703,975 57,165,377
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 24,805,565 $ 46,777,855 $ 24,805,565 46,777,855
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION        
Conversion of preferred stock to common stock       $ 11,398,204

Source