v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net loss $ (1,727,144) $ (383,175)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense included in - General and administrative costs 656,032
(Increase) decrease in -    
Advances on research and development contract services 63,905 (43,411)
Accrued interest receivable 14,082
Prepaid insurance (7,973) 5,757
Other prepaid expenses and current assets (47,500) 5,295
Increase (decrease) in -    
Accounts payable and accrued expenses (41,421) 17,378
Research and development contract liabilities 77,764 (29,959)
Net cash used in operating activities (1,026,337) (414,033)
Cash flows from financing activities:    
Proceeds from sale of common stock in direct equity offering, net of offering costs 3,689,761
Exercise of common stock warrants 17,100
Payment of public offering costs (10,467)
Net cash provided by financing activities 3,696,394
Cash:    
Net increase (decrease) 2,670,057 (414,033)
Balance at beginning of period 5,069,266 2,598,864
Balance at end of period 7,739,323 2,184,831
Supplemental disclosures of cash flow information:    
Interest 2,099
Income taxes

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