v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net loss $ (16,188,206) $ (10,107,377)
Adjustments to reconcile net loss to cash used in operating activities:    
Stock compensation expense 2,831,783 610,096
Depreciation and amortization 27,429 69,934
Amortization of debt discount   438,172
Change in fair value of derivative liability   335,001
Changes in operating assets and liabilities    
Other current assets 110,418 33,704
Other noncurrent assets (70,380) 87,386
Accounts payable and accrued expenses 2,302,372 (366,969)
Net cash flows from operating activities (10,986,584) (8,900,053)
Cash flows from investing activities:    
Cash paid for business acquisition, net of cash received from Kineta (1,259,278)  
Purchase of property and equipment (48,233) (36,498)
Net cash flows from investing activities (1,307,511) (36,498)
Cash flows from financing activities:    
Cash dividend payment of preferred stock Series A (4,178)  
Proceeds from warrants exercised 3,620,657  
Proceeds from convertible notes payable   19,068,000
Payment of debt issuance costs   (1,091,488)
Proceeds from issuance of common stock 5,914,625  
Payment of transaction costs related to Kintara merger (500,000)  
Payment of deferred offering costs (331,363) (393,707)
Payment of net liabilities assumed in reverse recapitalization with Kintara (550,000)  
Net cash flows from financing activities 8,149,741 17,582,805
Net change in cash and cash equivalents (4,144,354) 8,646,254
Cash and cash equivalents at the beginning of the period 12,657,178 3,665,032
Cash and cash equivalents at the end of the period 8,512,824 12,311,286
Supplemental non-cash activity    
Due from stockholders not yet received for common stock 2,997,548  
Consideration in common shares for Kineta acquisition 8,875,680  
Fair value of placement agent warrants issued in connection with common stock issuance 276,649  
Fair value of investor warrants issued in connection with common stock issuance 6,396,017  
Right-of-use asset recognized in exchange for operating lease obligations   318,722
Debt issuance costs not yet paid 381,332 354,510
Deferred offering costs not yet paid $ 45,336 527,249
Fair value of warrants associated with convertible notes payable   4,097,193
Derivative liability associated with make-whole premium   $ 1,534,999

Source

10-Q XBRL Zip