Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.23.3
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (18,832,694) $ (29,721,841)
Adjustments to reconcile net loss to net cash used in operating activities:    
Acquired in-process research and development 282,000 971,477
Depreciation 12,845 12,845
Amortization of operating lease right-of-use asset 62,905 80,412
Share-based compensation 248,626 876,368
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (33,653) (454,269)
Income tax receivable (69,269) (717,305)
Other assets (414,206)
Accounts payable (2,631,215) 971,041
Accrued expenses and other current liabilities 231,953 641,372
Operating lease liability (51,329) (83,685)
Deferred income (147,805) (349,943)
Net cash used in operating activities (21,341,842) (27,773,528)
Cash flows from investing activities:    
Purchases of in-process research and development (443,250) (810,227)
Net cash used in investing activities (443,250) (810,227)
Cash flows from financing activities:    
Proceeds from sale of preferred stock and common stock warrants, net of issuance costs 2,172,649
Proceeds from sale of common stock, net of issuance costs 21,006,371 1,841,918
Proceeds from exercise of warrants, net of issuance costs 849
Repayments of related party notes (748)
Net cash provided by financing activities 21,006,472 4,014,567
Net decrease in cash (778,620) (24,569,188)
Cash, beginning of year 3,052,879 27,622,067
Cash, end of year 2,274,259 3,052,879
Supplemental disclosure of non-cash operating, investing and financing activities:    
Change in operating lease 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
Deferred offering costs in accounts payable and accrued expenses 49,988 80,940
Net settlement of warrants 52
In-process research and development in accrued expenses 161,250
Common stock issuance costs in accounts payable and accrued expenses $ 78,073