v3.21.1
Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net loss $ (9,588,000) $ (8,883,820)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation 2,118,693 2,843,636
Change in fair value of warrant liabilities (720,709) 624,190
Depreciation and amortization 151,418 199,500
Loss on marketable security (15,006) 0
Loss on disposal of fixed asset 0 (3,230)
Equity in losses on equity method investment 61,539 117,351
Gain on sale of intellectual property (316,724) 0
Changes in operating assets and liabilities    
Prepaid insurance, other expenses and current assets 122,878 214,698
Long-term prepaid insurance 96,834 96,833
Security Deposit (253,565) 0
Accounts payable 436,646 186,911
Accrued expenses and other current liabilities 574,460 340,288
Net cash used in operating activities (7,301,524) (4,257,183)
Cash flows from investing activities    
Purchase of laboratory and office equipment (402,890) (161,916)
Purchase of marketable securities (44,990,079) 0
Sale of marketable securities 44,975,073 0
Net cash used in investing activities (417,896) (161,916)
Cash flows from financing activities    
Principal payment of financed insurance (138,557) (122,919)
Proceeds from exercise of stock options 112,446 0
Net cash used in financing activities (26,111) (122,919)
Net decrease in cash and cash equivalents (7,745,531) (4,542,018)
Cash and cash equivalents, beginning of period 31,992,283 10,313,966
Cash and cash equivalents, end of period 24,246,752 5,771,948
Supplemental disclosure of cash flow information:    
Cash paid for interest 10,400 1,668
Cash paid for income taxes 0 0
Non-cash investing and financing activities:    
Deferred offering costs, accrued but not yet paid 0 196,724
Capital expenditures in accounts payable $ 234,104 $ 0

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