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 ($)
 9 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (4,308,639) $ (15,155,955)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 9,633 9,634
Acquired in-process research and development 12,000 282,000
Amortization of operating lease right-of-use asset 51,876 46,650
Share-based compensation 170,795 198,620
Financing costs related to ChEF Purchase Agreement 370,426
Non-cash financing costs 1,732
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 623,566 (218,940)
Incentive tax receivable 266,964 (31,864)
Other assets (74,274) (155,366)
Accounts payable (455,038) (1,877,222)
Accrued expenses and other current liabilities (2,034,243) 264,872
Operating lease liability (53,725) (34,609)
Deferred income (18,626) (110,549)
Net cash used in operating activities (5,437,553) (16,782,729)
Cash flows from investing activities:    
Purchase of in-process research and development (12,000) (273,250)
Net cash used in investing activities (12,000) (273,250)
Cash flows from financing activities:    
Proceeds from the issuance of common stock, net of issuance costs 3,899,157 21,024,070
Payment of deferred offering costs (15,000)
Payment of financing costs related to ChEF Purchase Agreement (157,500)
Proceeds from exercise and modification of warrants, net of issuance costs 3,002,968 849
Repayments of related party note (748)
Net cash provided by financing activities 6,729,625 21,024,171
Net increase in cash 1,280,072 3,968,192
Cash, beginning of period 2,274,259 3,052,879
Cash, end of period 3,554,331 7,021,071
Supplemental disclosure of non-cash operating, investing and financing activities:    
Net settlement of warrants 75 1,142
ChEF Purchase Agreement financing costs in accounts payable 212,926
In-process research and development in accounts payable and accrued expenses 170,000
Deferred offering costs charged against proceeds from sale of common stock 32,340
Issuance of common stock on vesting of restricted stock units 5
Common stock issuance costs in accounts payable $ 78,073