Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.23.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net loss $ (15,155,955) $ (22,286,500)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 9,634 9,634
Acquired in-process research and development 282,000 871,877
Amortization of operating lease right-of-use asset 46,650 65,695
Share-based compensation 198,620 790,858
Change in operating assets and liabilities:    
Incentive tax receivable (31,864)
Prepaid expenses and other current assets (218,940) (754,872)
Other assets (155,366)
Accounts payable (1,877,222) (761,833)
Accrued expenses and other current liabilities 264,872 893,728
Operating lease liability (34,609) (66,991)
Deferred income (110,549) (287,190)
Net cash used in operating activities (16,782,729) (21,525,594)
Cash flows from investing activities:    
Purchase of in-process research and development (273,250) (871,877)
Net cash used in investing activities (273,250) (871,877)
Cash flows from financing activities:    
Proceeds from sale of common stock, net of issuance costs 21,024,070
Proceeds from the exercise of warrants 849
Repayments of related party note (748)
Net cash provided by financing activities 21,024,171
Net increase (decrease) in cash 3,968,192 (22,397,471)
Cash, beginning of period 3,052,879 27,622,067
Cash, end of period 7,021,071 5,224,596
Supplemental disclosure of non-cash operating, investing and financing activities:    
Net settlement of warrants 1,142
Acquired in-process research and development in accounts payable 170,000
Change in operating right-of-use asset and liability due to amended lease 213,793
Deferred offering costs charged against proceeds from sale of common stock 32,340
Issuance of common stock on vesting of restricted stock units 5 33
Common stock issuance costs in accrued expenses and accounts payable $ 78,073