Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.22.4
Condensed Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities    
Net loss $ (4,369,039) $ (7,728,816)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation (509,072) 793,204
Depreciation and amortization 198,563 181,490
Loss on marketable securities 0 30
Loss on disposal of fixed assets 65,532 7,595
Equity in losses on equity method investment 0 415,744
Amortization of right-of-use assets 120,094 0
Non-cash expense from right-of-use assets 0 103,599
Changes in operating assets and liabilities    
Prepaid insurance, other prepaid expenses and current assets 924,581 877,266
Other long-term assets 0 160,423
Accounts payable (1,496,850) (680,142)
Accrued expenses and other current liabilities (501,649) 665,134
Operating lease liability (120,008) (63,973)
Net cash used in operating activities (5,687,848) (5,268,446)
Cash flows from investing activities    
Purchase of laboratory and office equipment (49,844) (123,876)
Purchase of marketable securities 0 (14,986,818)
Sale of marketable securities 0 14,986,788
Net cash used in investing activities (49,844) (123,906)
Cash flows from financing activities    
Principal payment of financed insurance 0 (148,385)
Principal payment of finance lease liability (28,645) (26,632)
Proceeds from exercise of stock options 0 42
Net cash used in financing activities (28,645) (174,975)
Net decrease in cash and cash equivalents (5,766,337) (5,567,327)
Cash and cash equivalents, beginning of period 23,152,663 52,893,387
Cash and cash equivalents, end of period 17,386,326 47,326,060
Non-cash investing and financing activities:    
Issuance of common stock and commitment obligation as fee for future financing 30,000 0
Equity issuance costs, unpaid 59,973 0
Sale of laboratory equipment in other prepaid expenses and current assets 8,500 0
Impairment of right-of-use asset and lease liability 85,030 0
Purchases of laboratory and office equipment in accounts payable $ 0 $ 65,970