Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net loss $ (4,699,034) $ (2,357,955)
Stock-based compensation expense included in -    
General and administrative costs 1,854,058 394,031
Research and development costs 670,715
Increase (decrease) in -    
Advances on research and development contract services (139,120) (29,792)
Accrued interest receivable 14,367
Prepaid insurance (31,012) (34,583)
Other prepaid expenses and current assets (17,224) 11,294
Accounts payable and accrued expenses 25,348 (28,031)
Research and development contract liabilities 10,918 (32,418)
Net cash used in operating activities (2,996,066) (1,392,372)
Cash flows from financing activities:    
Proceeds from sale of common stock in direct equity offering, net of offering costs 3,689,761
Payment of deferred offering costs (10,000) (130,244)
Exercise of common stock warrants 17,100
Exercise of common stock options 201,000
Payment of public offering costs (10,467)
Net cash provided by (used in) financing activities 3,887,394 (130,244)
Cash:    
Net increase (decrease) 891,328 (1,522,616)
Balance at beginning of period 5,069,266 2,598,864
Balance at end of period 5,960,594 1,076,248
Supplemental disclosures of cash flow information:    
Interest 2,944
Income taxes
Noncash investing and financing activities:    
Accrual of deferred offering costs $ 16,376 $ 44,009