Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.26.3
Condensed Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended 12 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Dec. 31, 2025
Cash flows from operating activities      
Net loss $ (28,135,897) $ (29,045,059)  
Adjustments to reconcile net loss to net cash used in operating activities:      
Share-based compensation expense 1,080,958 654,457  
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets (54,163) (438,693)  
Accounts payable (2,058,288) 2,474,022  
Accrued liabilities (2,978,325) 7,518,600  
Net cash used in operating activities (32,145,715) (18,836,673)  
Cash flows from financing activities      
Proceeds from issuance of Common Shares pursuant to ATM offering, net of issuance costs 21,072 708,468  
Proceeds from exercise of pre-funded warrants   3,050  
Net cash provided by financing activities 70,102,381 20,944,671  
Net increase in cash 37,956,666 2,107,998  
Cash at beginning of period 6,116,556 13,291,167 $ 13,291,167
Cash at end of period 44,073,222 15,399,165 $ 6,116,556
Noncash financing activities      
Increase (decrease) in share-based compensation liability on C$ denominated share options decreasing (increasing) additional paid-in-capital 27,186 (145,110)  
Deferred financing costs accrued but unpaid and reclassified to additional paid-in capital upon completion of equity financing 32,332    
July 22, 2025 Exercise of Discounted Warrants And Pipe Offering      
Cash flows from financing activities      
Proceeds from issuance of pre-funded warrants from July 22, 2025 Registered Direct Offering, net of issuance costs   697,658  
Proceeds from issuance of Common Shares, pre-funded warrants, and common warrants, net of issuance costs   8,391,027  
Noncash financing activities      
Deferred discount for fair value modification of warrants   930,841  
Deferred discount issuance cost recognized on completion of PIPE   (930,841)  
July 28, 2025 Exercise of Discounted Warrants And Pipe Offering      
Cash flows from financing activities      
Proceeds from issuance of Common Shares, pre-funded warrants, and common warrants, net of issuance costs   11,144,468  
Noncash financing activities      
Deferred discount for fair value modification of warrants   1,794,146  
Deferred discount issuance cost recognized on completion of PIPE   $ (1,794,146)  
January 2026 PIPE      
Cash flows from financing activities      
Proceeds from issuance of Common Shares, pre-funded warrants, and common warrants, net of issuance costs $ 70,081,309