v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows From Operating Activities    
Net loss $ (14,411,909) $ (8,243,740)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 484
Lease expense for right-of-use assets 66,126 62,624
Milestone expense in connection with license agreement 189,000
Acquisition of in-process research and development 300,000
Amortization of issuance costs 78,113
Amortization of intangible asset 591,372 593,365
Deferred income tax benefit (348,859)
Stock-based compensation 6,052,081 2,287,863
Forgiveness of PPP loan and related accrued interest (163,771)
Net changes in operating assets and liabilities:    
Prepaid expenses and other 299,074 (664,417)
Operating lease liability (69,420) (64,121)
Accrued interest 362
Accounts payable 92,161 34,283
Due (from) to related parties (1,772) 84,872
Other receivables 70,274 6,750
Accrued expenses (62,858) 123,984
Net Cash Used In Operating Activities (7,107,758) (5,990,321)
Cash Flows From Financing Activities    
Net proceeds from issuance of common stock 9,875,550
Shares withheld to pay taxes on stock-based compensation (35,247) (27,980)
Acquisition of treasury stock (300,000)
Other (180,285)
Net Cash (Used In) Provided By Financing Activities (335,247) 9,667,285
Net Increase (Decrease) in Cash (7,443,005) 3,676,964
Cash and Cash Equivalents – Beginning of Period 16,497,581 15,416,224
Cash and Cash Equivalents – End of Period 9,054,576 19,093,188
Non-Cash Financing Activities    
Issuance of 123,609 shares of common stock in connection with the Purchase Agreement with Lincoln Park 450,000
Right-of-use asset obtained in exchange for operating lease liability (238,924)
Operating lease liability 238,924
Net

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