| Three Months Ended | Nine Months Ended | |||||||||||||||
| September 30, | September 30, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Operating expenses: | ||||||||||||||||
| Research and development | $ | 6,298,423 | $ | 6,956,135 | $ | 20,171,306 | $ | 19,231,962 | ||||||||
| General and administrative | 2,878,562 | 1,837,801 | 8,321,998 | 5,141,391 | ||||||||||||
| Total operating expenses | 9,176,985 | 8,793,936 | 28,493,304 | 24,373,353 | ||||||||||||
| Loss from operations | (9,176,985) | (8,793,936) | (28,493,304) | (24,373,353) | ||||||||||||
| Other (expense) income | ||||||||||||||||
| Interest expense | (1,525,746) | (1,515,155) | (4,559,890) | (2,979,471) | ||||||||||||
| Interest income | 651,314 | 1,079,528 | 2,350,238 | 2,230,510 | ||||||||||||
| Other income | 1,618 | 41,386 | 10,461 | 390,426 | ||||||||||||
| (Loss) gain on foreign currency | (6,118) | 55,712 | (8,113) | 3,153 | ||||||||||||
| Total other (expense) income | (878,932) | (338,529) | (2,207,304) | (355,382) | ||||||||||||
| Loss before income taxes | (10,055,917) | (9,132,465) | (30,700,608) | (24,728,735) | ||||||||||||
| Income tax expense | - | - | - | - | ||||||||||||
| Net loss | $ | (10,055,917) | $ | (9,132,465) | $ | (30,700,608) | $ | (24,728,735) | ||||||||
| Net loss per share attributable to common stockholders: Basic and diluted | $ | (0.03) | $ | (0.03) | $ | (0.10) | $ | (0.09) | ||||||||
| Weighted-average number of common shares outstanding: Basic and diluted | 311,192,703 | 305,692,267 | 308,914,435 | 282,766,448 | ||||||||||||
| Nine Months Ended September 30, 2024 | ||||||||||||||||||||||||||||||||||||
| Total Other | Total | |||||||||||||||||||||||||||||||||||
| Common Stock | Common Stock To Be Issued | Common Stock | Additional | Accumulated | Comprehensive | Stockholders’ | ||||||||||||||||||||||||||||||
| Shares | Par Value | Shares | Amount | Receivable | Paid-in Capital | Deficit | Income | Equity | ||||||||||||||||||||||||||||
| Balance at December 31, 2023 | 307,020,758 | $ | 30,703 | - | - | - | $ | 342,721,880 | $ | (312,659,408) | $ | 963,277 | $ | 31,056,452 | ||||||||||||||||||||||
| Exercise of stock options | 1,069,500 | 107 | - | - | - | 110,630 | - | - | 110,737 | |||||||||||||||||||||||||||
| Stock-based compensation | - | - | - | - | - | 357,170 | - | - | 357,170 | |||||||||||||||||||||||||||
| Net loss | - | - | - | - | - | - | (9,150,003) | - | (9,150,003) | |||||||||||||||||||||||||||
| Other comprehensive loss | - | - | - | - | - | - | - | (78,359) | (78,359) | |||||||||||||||||||||||||||
| Balance at March 31, 2024 | 308,090,258 | $ | 30,810 | - | $ | - | $ | - | $ | 343,189,680 | $ | (321,809,411) | $ | 884,918 | $ | 22,295,997 | ||||||||||||||||||||
| Exercise of stock options | 23,125 | 2 | - | - | - | 2,311 | - | - | 2,313 | |||||||||||||||||||||||||||
| Stock-based compensation | - | - | - | - | - | 422,535 | - | - | 422,535 | |||||||||||||||||||||||||||
| Net loss | - | - | - | - | - | - | (11,494,688) | - | (11,494,688) | |||||||||||||||||||||||||||
| Other comprehensive loss | - | - | - | - | - | - | - | (16,873) | (16,873) | |||||||||||||||||||||||||||
| Balance at June 30, 2024 | 308,113,383 | $ | 30,812 | - | $ | - | $ | - | $ | 343,614,526 | $ | (333,304,099) | $ | 868,045 | $ | 11,209,284 | ||||||||||||||||||||
| Exercise of stock options | 75,102 | 8 | - | - | - | 18,575 | - | - | 18,583 | |||||||||||||||||||||||||||
| Stock-based compensation | - | - | - | - | - | 476,321 | - | - | 476,321 | |||||||||||||||||||||||||||
| Issuance of common stock, net of issuance costs | 55,856,325 | 5,585 | - | - | - | 29,478,237 | - | - | 29,483,822 | |||||||||||||||||||||||||||
| Common stock receivable in connection with offering, net of issuance costs | - | - | 5,075,733 | 2,595,864 | (2,595,864) | - | - | - | - | |||||||||||||||||||||||||||
| Net loss | - | - | - | - | - | - | (10,055,917) | - | (10,055,917) | |||||||||||||||||||||||||||
| Other comprehensive income | - | - | - | - | - | - | - | 104,349 | 104,349 | |||||||||||||||||||||||||||
| Balance at September 30, 2024 | 364,044,810 | $ | 36,405 | 5,075,733 | $ | 2,595,864 | $ | (2,595,864) | $ | 373,587,659 | $ | (343,360,016) | $ | 972,394 | $ | 31,236,442 | ||||||||||||||||||||
| Nine Months Ended September 30, | ||||||||
| 2024 | 2023 | |||||||
| Cash flows from operating activities: | ||||||||
| Net loss | $ | (30,700,608) | $ | (24,728,735) | ||||
| Adjustment to reconcile net loss to cash used in operating activities: | ||||||||
| Depreciation and amortization | 496,844 | 572,882 | ||||||
| Amortization of deferred loan costs and discount on notes payable | 461,362 | 321,349 | ||||||
| Lease amortization | 277,784 | 310,138 | ||||||
| Stock-based compensation | 1,256,026 | 873,597 | ||||||
| Provision for doubtful accounts | 4,520 | 40,485 | ||||||
| Accretion of discount on marketable securities | (1,371,339) | (853,951) | ||||||
| Changes in operating assets and liabilities: | ||||||||
| Non-trade receivables and unbilled reimbursements | 172,721 | 119,075 | ||||||
| Prepaid expenses | 645,011 | 1,139,478 | ||||||
| Other assets | (1,019,739) | 418,799 | ||||||
| Accounts payable | 28,912 | (825,526) | ||||||
| Accrued expenses and other liabilities | (203,056) | (433,054) | ||||||
| Interest payable | (976) | 131,611 | ||||||
| Operating lease liability | (290,234) | (305,079) | ||||||
| Net cash used in operating activities | (30,242,772) | (23,218,931) | ||||||
| Cash flows from investing activities: | ||||||||
| Purchase of property and equipment | (207,898) | (245,620) | ||||||
| Purchase of marketable securities | (29,933,502) | (40,015,409) | ||||||
| Maturities of marketable securities | 51,300,000 | 50,000,000 | ||||||
| Sales of marketable securities | 1,125,676 | 1,684,407 | ||||||
| Net cash provided by investing activities | 22,284,276 | 11,423,378 | ||||||
| Cash flows from financing activities: | ||||||||
| Proceeds from notes payable | 82,029 | 20,000,000 | ||||||
| Repayment of notes payable | (22,371) | - | ||||||
| Payments of deferred loan costs | - | (200,000) | ||||||
| Proceeds from exercise of stock options | 131,633 | 45,459 | ||||||
| Proceeds from issuance of common stock | 31,259,992 | 21,615,075 | ||||||
| Payment of common stock issuance costs | (1,649,207) | (987,041) | ||||||
| Net cash provided by financing activities | 29,802,076 | 40,473,493 | ||||||
| Effect of exchange rate change on cash | (11,118) | (49,326) | ||||||
| Net change in cash and cash equivalents | 21,832,462 | 28,628,614 | ||||||
| Cash and cash equivalents, beginning of the period | 14,578,752 | 15,456,338 | ||||||
| Cash and cash equivalents, end of the period | $ | 36,411,214 | $ | 44,084,952 | ||||
| Supplemental disclosure of cash flow information | ||||||||
| Cash paid for interest expense | $ | 4,099,504 | $ | 2,526,511 | ||||
| Cash paid for state income taxes | $ | 1,625 | $ | 750 | ||||
| Supplemental disclosure of non-cash investing and financing activities: | ||||||||
| Remeasurement of lease liabilities | $ | 410,797 | $ | - | ||||
| Common stock to be issued | $ | 2,761,558 | $ | - | ||||
| Accrued issuance costs | $ | 292,657 | $ | - | ||||
| Purchases of property and equipment not yet paid | $ | - | $ | 3,841 | ||||
| Schedule of non trade receivables | ||||||||
| September 30, | December 31, | |||||||
| 2024 | 2023 | |||||||
| Non-trade receivables | $ | 45,528 | $ | 237,128 | ||||
| Unbilled reimbursements | 8,036 | 135,772 | ||||||
| Non-trade receivables and unbilled services | 53,564 | 372,900 | ||||||
| Less: allowance for doubtful accounts | - | (142,166) | ||||||
| Non-trade receivables and unbilled services, net | $ | 53,564 | $ | 230,734 | ||||
| September 30, 2024 | December 31, 2023 | |||||||
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 36,411,214 | $ | 14,578,752 | ||||
| Marketable securities | 37,176,846 | 57,736,274 | ||||||
| Non-trade receivables and unbilled reimbursements, net | 53,564 | 230,734 | ||||||
| Prepaid expenses | 801,720 | 1,446,634 | ||||||
| Other current assets | 168,236 | 382,522 | ||||||
| Total current assets | 74,611,580 | 74,374,916 | ||||||
| Property and equipment, net | 924,276 | 1,088,771 | ||||||
| Right of use operating lease asset | 1,031,009 | 1,719,590 | ||||||
| Marketable securities | 593,906 | 1,125,554 | ||||||
| Other assets | 1,662,842 | 589,646 | ||||||
| TOTAL ASSETS | $ | 78,823,613 | $ | 78,898,477 | ||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 2,007,001 | $ | 1,856,134 | ||||
| Accrued expenses and other liabilities | 3,924,714 | 4,095,347 | ||||||
| Interest payable | 223,333 | 224,309 | ||||||
| Operating lease liability | 510,121 | 250,876 | ||||||
| Current portion of notes payable | 59,657 | 21,496 | ||||||
| Total current liabilities | 6,724,826 | 6,448,162 | ||||||
| Other liabilities | 44,343 | 76,946 | ||||||
| Operating lease liability | 709,953 | 1,670,230 | ||||||
| Notes payable, net | 40,108,049 | 39,646,687 | ||||||
| Total liabilities | 47,587,171 | 47,842,025 | ||||||
| Commitments and contingencies (Note 14) | ||||||||
| STOCKHOLDERS' EQUITY | ||||||||
| Common stock, $0.0001 par value; 600,000,000 shares authorized 364,044,810 and 307,020,758 shares issued and outstanding at September 30, 2024, and December 31, 2023, respectively | 36,405 | 30,703 | ||||||
| Common stock to be issued, net of issuance costs; $0.0001 par value, 5,075,733 and 0 shares to be issued as of September 30, 2024 and December 31, 2023, respectively | 2,595,864 | - | ||||||
| Common stock receivable, net of issuance costs | (2,595,864) | - | ||||||
| Additional paid-in capital | 373,587,659 | 342,721,880 | ||||||
| Accumulated deficit | (343,360,016) | (312,659,408) | ||||||
| Accumulated other comprehensive income | 972,394 | 963,277 | ||||||
| Total stockholders' equity | 31,236,442 | 31,056,452 | ||||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 78,823,613 | $ | 78,898,477 | ||||
