Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.22.4
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net loss $ (33,776,450) $ (25,409,301)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation 2,897,689 3,696,384
Research and development, Vera acquisition 0 2,888,029
Change in fair value of warrant liabilities 0 (950,151)
Depreciation and amortization 767,302 403,043
Loss on marketable securities 30 25,012
Loss on disposal of fixed assets 11,439 31,853
Equity in losses on equity method investment 415,747 224,534
Gain on sale of intellectual property 0 (316,724)
Amortization of right-of-use assets 495,210 172,478
Changes in operating assets and liabilities    
Prepaid insurance, other prepaid expenses and current assets 539,245 (666,945)
Long-term prepaid insurance 0 145,250
Security deposit (19,600) (253,615)
Other long-term assets 160,423 (160,420)
Accounts payable 35,142 294,548
Accrued expenses and other current liabilities (85,088) 943,442
Operating lease liability (453,055) 58,899
Net cash used in operating activities (29,011,966) (18,873,684)
Cash flows from investing activities    
Purchase of laboratory and office equipment (471,711) (1,438,415)
Purchase of marketable securities (14,986,818) (59,988,511)
Sale of marketable securities 14,986,788 59,963,499
Cash paid for Vera acquisition 0 (1,100,040)
Net cash used in investing activities (471,741) (2,563,467)
Cash flows from financing activities    
Principal payment of financed insurance (148,385) (381,797)
Principal payment of finance lease liability (109,500) (8,770)
Proceeds from issuance of stock, net of issuance costs 0 42,616,376
Proceeds from exercise of stock options 868 112,446
Net cash (used in) provided by financing activities (257,017) 42,338,255
Net (decrease) increase in cash and cash equivalents (29,740,724) 20,901,104
Cash and cash equivalents, beginning of period 52,893,387 31,992,283
Cash and cash equivalents, end of period 23,152,663 52,893,387
Supplemental disclosure of cash flow information:    
Cash paid for interest 0 0
Cash paid for income taxes 0 0
Non-cash investing and financing activities:    
Issuance of common stock, Vera acquisition 0 1,759,220
Purchases of laboratory and office equipment in accounts payable 0 8,295
Preferred shares in DepYmed received as consideration for sale of intellectual property 0 316,724
Insurance financed through note payable 0 391,625
Right-of-use asset obtained in exchange for operating lease liabilities 164,613 0
Deferred offering costs accrued $ 0 $ 160,420