Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.25.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net loss $ (3,160,706) $ (1,168,509)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 3,211 3,211
Acquired in-process research and development 12,000 12,000
Amortization of operating lease right-of-use asset 18,982 16,763
Share-based compensation 60,395 50,005
Changes in operating assets and liabilities:    
Unbilled collaboration revenue (500,000)
Prepaid expenses and other current assets 9,541 269,116
Incentive tax receivable 595,286 592,463
Other assets 281,088 (77,656)
Accounts payable (635,568) (465,735)
Accrued expenses and other current liabilities 425,432 (2,287,544)
Operating lease liability (19,907) (17,225)
Deferred income (18,626)
Net cash used in operating activities (2,910,246) (3,091,737)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 7,711,161 3,838,870
Payment of deferred offering costs (75,000)
Payment of warrant issuance costs (13,868)
Net cash provided by financing activities 7,622,293 3,838,870
Net increase in cash 4,712,047 747,133
Cash, beginning of period 149,456 2,274,259
Cash, end of period 4,861,503 3,021,392
Supplemental disclosure of non-cash operating, investing and financing activities:    
In-process research and development in accrued expenses 12,000 12,000
Deferred offering costs in accounts payable and accrued expenses 32,058 15,000
Common stock issuance costs in accounts payable $ 88,542