Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.23.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net loss $ (11,209,213) $ (14,409,480)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 6,422 6,422
Acquired in-process research and development 112,000 285,627
Amortization of operating lease right-of-use asset 30,885 45,213
Share-based compensation 148,615 682,966
Change in operating assets and liabilities:    
Incentive tax receivable 270,295
Prepaid expenses and other current assets 435,102 (90,659)
Accounts payable (386,979) 255,121
Accrued expenses and other current liabilities 74,250 (205,474)
Operating lease liability (18,381) (45,529)
Deferred income (73,700) (225,119)
Net cash used in operating activities (10,610,704) (13,700,912)
Cash flows from investing activities:    
Purchase of in-process research and development (261,250) (285,627)
Net cash used in investing activities (261,250) (285,627)
Cash flows from financing activities:    
Proceeds from sale of common stock, net of issuance costs 19,209,252
Net cash provided by financing activities 19,209,252
Net increase (decrease) in cash 8,337,298 (13,986,539)
Cash, beginning of period 3,052,879 27,622,067
Cash, end of period 11,390,177 13,635,528
Supplemental disclosure of non-cash operating, investing and financing activities:    
Net settlement of warrants 23
In-process research and development in accounts payable 12,000
Deferred offering costs charged against proceeds from sale of common stock 32,340
Issuance of common stock on vesting of restricted stock units 5
Common stock issuance costs in accounts payable $ 208,932