Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net loss $ (19,974,029) $ (17,464,932)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 598,319 457,310
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (231,120) 620,912
Accounts payable (749,940) 1,042,716
Accrued liabilities (2,411,815) 6,562,946
Net cash used in operating activities (22,768,585) (8,781,048)
Cash flows from financing activities    
Proceeds from issuance of Common Shares, pre-funded warrants, and common warrants from January 29, 2026 PIPE, net of issuance costs 70,081,309  
Net cash provided by financing activities 70,081,309  
Net increase (decrease) in cash 47,312,724 (8,781,048)
Cash at beginning of period 6,116,556 13,291,167
Cash at end of period 53,429,280 4,510,119
Noncash financing activities    
Increase (decrease) in share-based compensation liability on C$ denominated share options decreasing (increasing) additional paid-in-capital 48,073 $ (136,868)
Deferred financing costs reclassified to additional paid-in capital upon completion of equity financing $ 32,332