Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net loss $ (5,542,142) $ (6,200,981)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 3,211 3,212
Acquired in-process research and development 100,000 120,000
Amortization of operating lease right-of-use asset 15,223 22,235
Share-based compensation 91,617 332,075
Change in operating assets and liabilities:    
Incentive tax receivable (619,118)
Prepaid expenses and other current assets 82,673 15,447
Accounts payable (375,540) (1,669,012)
Accrued expenses 383,362 (563,294)
Operating lease liability (17,201) (22,232)
Deferred income (37,255) (129,799)
Net cash used in operating activities (5,915,170) (8,092,349)
Cash flows from investing activities:    
Purchase of in-process research and development (120,000)
Net cash used in investing activities (120,000)
Cash flows from financing activities:    
Proceeds from sale of common stock, net of issuance costs 4,562,895
Net cash provided by financing activities 4,562,895
Net decrease in cash (1,352,275) (8,212,349)
Cash, beginning of period 3,052,879 27,622,067
Cash, end of period 1,700,604 19,409,718
Supplemental disclosure of non-cash operating, investing and financing activities:    
In-process research and development in accounts payable 261,250
Offering costs in accounts payable and accrued expenses 138,878
Deferred offering costs charged against proceeds from sale of common stock $ 32,340