Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

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Condensed Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Cash flows from operating activities      
Net loss $ (4,477,778) $ (4,640,601)  
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 5,043 0 $ 6,723
Stock-based compensation expense 123,273 123,229  
Noncash consulting fees 0 67,000  
Changes in operating assets and liabilities:      
Accounts receivable (24,638) 62,165  
Operating lease right of use assets 25,380 0  
Prepaid expenses and other current assets (759,312) 337,653  
Prepaid research and development 194,488 (458,301)  
Accounts payable (192,095) (283,582)  
Operating lease liabilities (26,276) 0  
Accrued expenses and other current liabilities (840,215) 858,240  
Net cash used in operating activities (5,972,130) (3,934,197)  
Cash flows from investing activities      
Purchases of investments - marketable securities (21,611,032) 0  
Maturities of investments - marketable securities 15,772,190 0  
Net cash used in investing activities (5,838,842) 0  
Cash flows from financing activities      
Issuance of common stock from exercise of stock options 0 44,142  
Proceeds from issuance of common stock, pre-funded warrants and warrants, net of issuance costs 8,579,023 0  
Repayments of notes payable 0 (248,911)  
Net cash (used in) provided by financing activities 8,579,023 (204,769)  
Net decrease in cash and cash equivalents (3,231,949) (4,138,966)  
Cash and cash equivalents at beginning of year 7,188,553 40,750,133 40,750,133
Cash and cash equivalents at end of year 3,956,604 36,611,167 $ 7,188,553
Supplemental disclosures of cash flow information      
Cash paid for interest 0 973  
Issuance costs $ 1,420,398 $ 0