7Baggers

GeoVax Labs, Inc
(NASDAQ:GOVX) 

GOVX stock logo

GeoVax Labs, Inc., a clinical-stage biotechnology company, develops human vaccines and immunotherapies against infectious diseases and cancers using modified vaccinia ankara virus-like particle vaccine platform. It is developing various preventive vaccines against coronavirus (COVID-19), human immun...

Founded: 1988
Full Time Employees: 6
CEO: David A. Dodd  
Sector: Healthcare
Industry: Biotechnology
BiotechnologyMonkeypox Vaccine
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2015-12-31 2014-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-06-27 
                                       
      revenue from government contract
    		300,677                                   
      operating expenses:
    		                                   
      research and development
    		4,276,868 4,425,728 6,233,870 6,947,979 4,719,728 2,819,189 3,764,562 2,721,196 1,307,177 1,330,544 12,894,191 1,224,362 832,835 602,783 757,346 416,756 461,421 808,936 436,096 467,674 451,227 555,718 461,760 557,696 372,202 486,994          
      general and administrative
    		1,086,030 1,457,353 1,459,880 1,651,775 1,459,093 1,451,425 1,622,939 1,249,337 935,311 1,179,024 1,014,512 757,432 733,499 1,071,710 831,364 435,013 427,292 502,345 423,485 291,475 412,650 510,064 471,869 458,974 359,197 357,228          
      total operating expenses
    		5,362,898 5,883,081 7,693,750 8,599,754 6,178,821 4,270,614 5,387,501 3,970,533 2,242,488 2,509,568 13,908,703 1,981,794 1,566,334 1,674,493 1,588,710 851,769 888,713 1,311,281 859,581 759,149 863,877 1,065,782 933,629 1,016,670 731,399 844,222          
      income from operations
    		-5,062,221 -5,883,081 -7,693,750 -8,599,754 -6,178,821 -4,270,614 -5,387,501 -3,970,533 -2,242,488 -2,428,042 -13,743,741 -1,951,380 -1,486,626 -1,564,076 -1,337,089 -436,311 -448,111 -595,304 -591,067 -425,940 -653,936 -701,550 -634,334 -667,326 -638,134 -622,923          
      yoy
    		-18.07% 37.76% 42.81% 116.59% 175.53% 75.89% -60.80% 103.47% 50.84% 55.24% 927.89% 347.25% 231.75% 162.74% 126.22% 2.43% -31.47% -15.14% -6.82% -36.17% 2.48% 12.62%              
      qoq
    		-13.95% -23.53% -10.54% 39.18% 44.68% -20.73% 35.69% 77.06% -7.64% -82.33% 604.31% 31.26% -4.95% 16.98% 206.45% -2.63% -24.73% 0.72% 38.77% -34.87% -6.79% 10.60% -4.94% 4.57% 2.44%           
      other income:
    		                                   
      interest income
    		5,471 32,949 101,342 190,936 251,201 232,698 3,692 2,431 789 527 738 877 1,068 2,053 1,369 90 60 752 1,694 2,560 881 1,224 1,121 1,058 1,716 1,318          
      interest expense
    		-7,292            -531 -755 -802 -134,427 -7,153 -1,142 -1,220 -1,054 -1,093 -1,128 -1,132 -625 -625 -208          
      total other income
    		-1,821      3,692 2,431 789 527 738 877 172,593 1,298 567 -134,337 -7,093 -390 474 1,506 -212 96 -11 433 1,091 1,110          
      net income
    		-5,064,042 -5,850,132 -7,592,408 -8,408,818 -5,927,620 -4,037,916 -5,383,809 -3,968,102 -2,241,699 -2,427,515 -13,743,003 -1,950,503 -1,314,033 -1,562,778 -1,336,522 -570,648 -455,204 -595,694 -590,593 -424,434 -654,148 -701,454 -634,345 -666,893 -637,043 -621,813          
      yoy
    		-14.57% 44.88% 41.02% 111.91% 164.43% 66.34% -60.83% 103.44% 70.60% 55.33% 928.27% 241.80% 188.67% 162.35% 126.30% 34.45% -30.41% -15.08% -6.90% -36.36% 2.69% 12.81%              
      qoq
    		-13.44% -22.95% -9.71% 41.86% 46.80% -25.00% 35.68% 77.01% -7.65% -82.34% 604.59% 48.44% -15.92% 16.93% 134.21% 25.36% -23.58% 0.86% 39.15% -35.12% -6.74% 10.58% -4.88% 4.69% 2.45%           
      basic and diluted:
    		                                   
      net income per common share
    		-1.99 -2.47 -13.6 -0.32 -0.22 -0.15 -0.2 -0.17 -0.18 -0.34 -2.24 -0.31 -0.21 -0.29 -0.713 -0.73 -0.03 -0.13    -1.43    -0.01          
      weighted-average shares outstanding
    		2,539,878 2,367,050 1,817,282 26,544,058 26,443,649 26,338,576 16,973,194 23,461,665 12,721,696 7,109,473 6,099,933 6,349,297 6,322,799 5,332,058 1,383,829 782,978 13,823,452 4,687,893 60,402   491,707 163,584,755   124,170,143          
      grant revenue
    		                                   
      grant and collaboration revenue
    		      20,381.5    164,962 30,414 79,708  251,621 415,458 440,602  268,514 333,209 209,941  299,295 349,344 93,265           
      gain on debt extinguishment
    		            172,056                       
      grant revenues
    		         81,526                          
      grant and collaboration revenues
    		             110,417    715,977    364,232    221,299          
      loss per common share
    		                  -38.88 -0.03 -1.01  -0.01             
      weighted-averages shares outstanding
    		                   13,038,871 649,486   167,407,100 155,209,337           
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2015-12-31 2014-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 
                                        
        assets
      		                                  
        current assets:
      		                                  
        cash and cash equivalents
      		1,561,712 768,859 6,452,589 12,687,041 17,788,911 23,849,860 27,612,732 34,676,968 30,902,454 16,257,716 11,423,870 18,107,019 19,538,513 20,842,782 221,807 11,580,594 710,682 283,341 569,359 216,411 175,985 259,701 511,242 190,969 571,154 312,727 1,060,348 1,101,651 1,035,925 1,167,980 1,079,087 3,515,784 2,191,180 1,990,356 
        accounts receivable
      		300,677                                  
        prepaid expenses
      		1,981,134 2,093,519 1,433,153 2,113,249 2,038,283 2,138,971 1,325,998 1,460,207 1,135,780                          
        total current assets
      		3,843,523 2,862,378 7,885,742 14,800,290 19,827,194 25,988,831 28,938,730 36,137,175 32,038,234 16,636,890 11,629,116 18,159,837 19,656,551 20,961,212 810,211 11,734,794 938,315 447,264 795,590 319,796 447,909 619,704 596,187 339,149 802,324 448,074 1,236,975 1,225,495 1,344,474 1,418,003 1,602,192 3,880,720 2,801,834 3,030,814 
        property and equipment
      		170,537 190,113 209,689 212,953 224,080 217,593 234,912 248,983 214,783 206,855 156,938 168,653 149,799 143,224 9,612 10,093 8,618 10,606 9,929 11,827 13,725 11,350 16,270 21,221 26,171 31,151 83,608 96,693 102,486 176,206 248,441 344,202 138,847 75,144 
        other assets
      		81,010 305,691 1,187,788 1,187,788 1,197,788 1,197,788 2,174,286 2,184,286 987,508                  11,010 11,010       
        total assets
      		4,095,070 3,358,182 9,283,219 16,201,031 21,249,062 27,404,212 31,347,928 38,570,444 33,240,525 16,854,755 11,797,064 18,339,500 19,817,360 21,115,446 830,833 11,755,897 957,943 468,880 816,529 342,633 472,644 642,064 623,467 371,380 839,505 490,235 1,331,593 1,333,198 1,477,970 1,645,142 2,357,834 4,315,597 3,056,241 3,246,404 
        liabilities and stockholders’ equity
      		                                  
        current liabilities:
      		                                  
        accounts payable
      		3,983,696 1,883,844 2,802,950 4,213,295 871,131 1,287,995 1,747,682 1,079,421 237,315 426,103 2,057,534 289,438 289,680 232,482 740,829 161,478 91,416 152,653 63,143 116,207 253,166 125,859 147,947 66,032 54,039 77,581 100,935 55,616 163,788 138,339     
        notes payable and accrued interest – related parties
      		142,292                                  
        accrued expenses
      		2,278,308 1,420,063 716,931 2,868,390 3,214,381 3,251,060 3,000,212 3,709,984 3,130,553 3,075,000 3,377,826 46,212 69,342 36,623 1,917,425 579,585 2,076,359 1,851,040 1,732,438 1,510,268 1,378,710 1,238,552 1,149,758 998,062 864,358 733,711 4,055 52,490 33,877 125,869     
        total current liabilities
      		6,404,296 3,303,907 3,519,881 7,081,685 4,085,512 4,539,055 4,747,894 4,789,405 3,367,868 3,501,103 5,435,360 335,650 359,022 451,949 2,670,302 923,647 2,785,865 2,016,193 1,808,081 1,638,975 1,644,376 1,624,831 1,304,999 1,068,262 919,439 811,292 126,990 187,023 327,035 941,535 521,608 571,365 346,422 598,538 
        commitments
      		                                  
        stockholders’ equity
      		                                  
        common stock
      		      26,335    6,382       300                 
        authorized shares – 150,000,000 and 600,000,000 at june 30, 2024 and december 31, 2023, respectively
      		                                  
        issued and outstanding shares – 4,178,700 and 1,977,152 at june 30, 2024 and december 31, 2023, respectively
      		4,179                                  
        additional paid-in capital
      		112,964,554 110,265,884 110,125,146 105,864,028 105,499,665 105,273,652 104,970,722 104,767,918 96,901,530 78,147,616 68,731,220 68,630,363 68,134,402 67,937,289 41,189,070 55,203,149 41,658,861 39,340,224 38,818,750 38,165,172 37,898,525 37,264,301 36,830,813 36,558,210 36,219,889 35,589,911 32,587,543 30,823,769 25,587,148 23,319,166 22,105,747 20,500,452 16,215,966 12,441,647 
        accumulated deficit
      		-115,277,959 -110,213,917 -104,363,785 -96,771,377 -88,362,559 -82,434,939 -78,397,023 -73,013,214 -69,045,112 -66,803,413 -64,375,898 -50,632,895 -48,682,392 -47,368,359 -43,443,207 -44,469,059 -43,898,411 -42,847,513 -42,256,920 -41,832,486 -41,178,338 -40,476,884 -39,842,539 -39,175,646 -38,538,603 -37,916,790 -32,474,927 -29,785,640       
        total stockholders’ equity
      		-2,309,226 54,275 5,763,338 9,119,346 17,163,550 22,865,157 26,600,034 31,781,039 27,872,657 11,353,652 4,361,704 18,003,850 19,458,338 20,651,340 -1,864,250 10,813,744 -1,849,621 -1,574,556 -1,020,719 -1,328,633 -1,207,149 -1,022,347 -724,238 -742,714 -128,892 -321,057 1,204,603 1,146,175 1,150,935 703,607 1,836,226 3,744,232 2,709,819 2,647,866 
        total liabilities and stockholders’ equity
      		4,095,070 3,358,182 9,283,219 16,201,031 21,249,062 27,404,212 31,347,928 38,570,444 33,240,525 16,854,755 11,797,064 18,339,500 19,817,360 21,115,446 830,833 11,755,897 957,943 468,880 816,529 342,633 472,644 642,064 623,467 371,380 839,505 490,235 1,331,593 1,333,198 1,477,970 1,645,142 2,357,834 4,315,597 3,056,241 3,246,404 
        stockholders’ equity:
      		                                  
        authorized shares – 150,000,000 and 600,000,000 at march 31, 2024 and december 31, 2023, respectively
      		                                  
        issued and outstanding shares – 2,308,309 and 1,977,152 at march 31, 2024 and december 31, 2023, respectively
      		 2,308                                 
        authorized shares – 600,000,000
      		                                  
        issued and outstanding shares – 1,977,152 and 1,755,664 at december 31, 2023 and 2022, respectively
      		  1,977                                
        issued and outstanding shares – 26,695,287 and 26,334,953 at september 30, 2023 and december 31, 2022, respectively
      		   26,695                               
        issued and outstanding shares – 26,443,649 and 26,334,953 at june 30, 2023 and december 31, 2022, respectively
      		    26,444                              
        authorized shares – 600,000,000 issued and outstanding shares – 26,443,649 and 26,334,953 at march 31, 2023 and december 31, 2022, respectively
      		     26,444                             
        grant funds receivable
      		                         59,758 119,978 79,341 266,248 183,515 474,275 320,321 311,368 93,260 
        other liabilities
      		       2,000,000 2,000,000                          
        total liabilities
      		      4,747,894 6,789,405 5,367,868 5,501,103 7,435,360 335,650 359,022 464,106 2,695,083 942,153 2,807,564 2,043,436 1,837,248 1,671,266 1,679,793 1,664,411 1,347,705 1,114,094 968,397          
        authorized shares – 600,000,000 issued and outstanding shares – 26,334,953 and 6,381,541 at september 30, 2022 and december 31, 2021, respectively
      		       26,335                           
        authorized shares – 600,000,000 issued and outstanding shares – 16,238,739 and 6,381,541 at june 30, 2022 and december 31, 2021, respectively
      		        16,239                          
        grant funds and other receivables
      		         99,526 49,006    520,509 141,154 187,163 68,603 103,485 64,246 160,277 121,814 14,757  5,000          
        prepaid expenses and other current assets
      		         279,648 156,240 52,818 118,038 118,430 67,895 13,046 40,470 95,320 122,746 39,139 111,647 238,189 70,188 148,180 226,170 75,589 56,649 44,503 42,301 66,508     
        deposits
      		         11,010 11,010 11,010 11,010 11,010 11,010 11,010 11,010 11,010 11,010 11,010 11,010 11,010 11,010 11,010 11,010 11,010       980 980 
        accrued expenses - noncurrent
      		         2,000,000                         
        authorized shares – 600,000,000 issued and outstanding shares – 9,449,025 and 6,381,541 at march 31, 2022 and december 31, 2021, respectively
      		         9,449                         
        current portion of notes payable
      		             182,844 12,048 182,584 182,379 12,500 12,500 12,500 12,500 260,420             
        accrued expenses – noncurrent
      		          2,000,000                        
        note payable, net of current portion
      		             12,157 24,781 18,506 21,699 27,243 29,167 32,291 35,417 39,580 42,706 45,832 48,958          
        preferred stock, .01 par value: authorized shares – 10,000,000 series b convertible preferred stock, 1,000 stated value; -0- and 100 shares issued and outstanding at december 31, 2021 and 2020, respectively
      		                                  
        preferred stock, .01 par value:
      		                                  
        authorized shares – 10,000,000 series b convertible preferred stock, 1,000 stated value; -0- and 100 shares issued and outstanding at september 30, 2021 and december 31, 2020, respectively
      		                                  
        authorized shares – 600,000,000 issued and outstanding shares – 6,381,541 and 3,834,095 at september 30, 2021 and december 31, 2020, respectively
      		           6,382                       
        authorized shares – 10,000,000
      		                                  
        series b convertible preferred stock, 1,000 stated value; -0- and 100 shares issued and outstanding at june 30, 2021 and december 31, 2020, respectively
      		                                  
        issued and outstanding shares – 6,327,702 and 3,834,095 at june 30, 2021 and december 31, 2020, respectively
      		            6,328                      
        series b convertible preferred stock, 1,000 stated value; 100 shares issued and outstanding at march 31, 2021 and december 31, 2020, respectively
      		             76,095                     
        issued and outstanding shares – 6,315,467 and 3,834,095 at march 31, 2021 and december 31, 2020, respectively
      		             6,315                     
        preferred stock, .01 par value
      		                                  
        issued and outstanding shares – 400 and 2,486 march 31, 2020 and december 31, 2019, respectively
      		              376,095                    
        issued and outstanding shares – 13,791,601 and 299,835 at march 31, 2020 and december 31, 2019, respectively
      		              13,792                    
        issued and outstanding shares – 100 and 2,486 september 30, 2020 and december 31, 2019, respectively
      		               76,095                   
        issued and outstanding shares – 3,559,473 and 14,992 at september 30, 2020 and december 31, 2019, respectively
      		               3,559                   
        convertible debentures
      		                435,711                  
        issued and outstanding shares – 400 and 2,486 june 30, 2020 and december 31, 2019, respectively
      		                376,095                  
        issued and outstanding shares – 13,834,075 and 299,835 at june 30, 2020 and december 31, 2019, respectively
      		                13,834                  
        preferred stock, .01 par value (note 7): authorized shares – 10,000,000 issued and outstanding shares – 2,486 and 3,450 at december 31, 2019 and 2018, respectively
      		                 1,932,433                 
        issued and outstanding shares – 3,054 and 3,450 september 30, 2019 and december 31, 2018, respectively
      		                  2,321,823                
        issued and outstanding shares – 95,627,584 and 437,807 at september 30, 2019 and december 31, 2018, respectively
      		                  95,628                
        issued and outstanding shares – 3,402 and 3,450 at june 30, 2019 and december 31, 2018, respectively
      		                   2,337,867               
        issued and outstanding shares – 813,916 and 437,807 at june 30, 2019 and december 31, 2018, respectively
      		                   814               
        series b convertible preferred stock, 1,000 stated value; 100 shares issued and outstanding at march 31, 2019 and december 31, 2018
      		                    76,095              
        series c convertible preferred stock, 1,000 stated value; -0- and 2,150 shares issued and outstanding at march 31, 2019 and december 31, 2018, respectively
      		                                  
        series e convertible preferred stock, 1,000 stated value; -0- and 1,200 shares issued and outstanding at march 31, 2019 and december 31, 2018, respectively
      		                                  
        series f convertible preferred stock, 1,000 stated value; 2,583 and -0- shares issued and outstanding at march 31, 2019 and december 31, 2018, respectively
      		                    1,591,763              
        series g convertible preferred stock, 1,000 stated value; 500 and -0- shares issued and outstanding at march 31, 2019 and december 31, 2018, respectively
      		                    404,250              
        issued and outstanding shares – 556,489 and 437,807 at march 31, 2019 and december 31, 2018, respectively
      		                    556              
        series b convertible preferred stock, 1,000 stated value; 100 shares issued and outstanding at december 31, 2018 and 2017
      		                     76,095             
        series c convertible preferred stock, 1,000 stated value; 2,150 and 2,570 shares issued and outstanding at december 31, 2018 and 2017, respectively
      		                     705,238             
        series d convertible preferred stock, 1,000 stated value; -0- and 1,000 shares issued and outstanding at december 31, 2018 and 2017, respectively
      		                                  
        series e convertible preferred stock, 1,000 stated value; 1,200 and -0- shares issued and outstanding at december 31, 2018 and 2017, respectively
      		                     1,190,000             
        issued and outstanding shares – 218,903,476 and 106,736,810 at december 31, 2018 and 2017, respectively
      		                     218,903             
        current portion of note payable
      		                      7,294 4,168 1,042          
        series b convertible preferred stock, 1,000 stated value; 100 shares issued and outstanding at september 30, 2018 and december 31, 2017
      		                      76,095            
        series c convertible preferred stock, 1,000 stated value; 2,570 shares issued and outstanding at september 30, 2018 and december 31, 2017
      		                      842,990            
        series d convertible preferred stock, 1,000 stated value; -0- and 1,000 shares issued and outstanding at september 30, 2018 and december 31, 2017
      		                                  
        series e convertible preferred stock, 1,000 stated value; 1,200 and -0- shares issued and outstanding at september 30, 2018 and december 31, 2017
      		                      1,190,000            
        issued and outstanding shares – 178,403,476 and 106,736,810 at september 30, 2018 and december 31, 2017
      		                      178,403            
        series b convertible preferred stock, 1,000 stated value; 100 shares issued and outstanding at june 30, 2018 and december 31, 2017
      		                       76,095           
        series c convertible preferred stock, 1,000 stated value; 2,570 shares issued and outstanding at june 30, 2018 and december 31, 2017
      		                       842,990           
        series d convertible preferred stock, 1,000 stated value; 205 and 1,000 shares issued and outstanding at june 30, 2018 and december 31, 2017
      		                       200,900           
        series e convertible preferred stock, 1,000 stated value; 600 and -0- shares issued and outstanding at june 30, 2018 and december 31, 2017
      		                       590,000           
        issued and outstanding shares – 164,736,810 and 106,736,810 at june 30, 2018 and december 31, 2017
      		                       164,737           
        series b convertible preferred stock, 1,000 stated value; 100 shares issued and outstanding at march 31, 2018 and december 31, 2017
      		                        76,095          
        series c convertible preferred stock, 1,000 stated value; 2,570 shares issued and outstanding at march 31, 2018 and december 31, 2017
      		                        842,990          
        series d convertible preferred stock, 1,000 stated value; 550 and 1,000 shares issued and outstanding at march 31, 2018 and december 31, 2017
      		                        539,000          
        series e convertible preferred stock, 1,000 stated value; 600 and -0- shares issued and outstanding at march 31, 2018 and december 31, 2017
      		                        590,000          
        authorized shares – 600,000,000 issued and outstanding shares – 141,736,810 and 106,736,810 at march 31, 2018 and december 31, 2017
      		                        141,737          
        series b convertible preferred stock, 1,000 stated value; 100 shares issued and outstanding at december 31, 2017 and 2016, respectively
      		                         76,095         
        series c convertible preferred stock, 1,000 stated value; 2,570 and 2,868 shares issued and outstanding at december 31, 2017 and 2016, respectively
      		                         842,990         
        series d convertible preferred stock, 1,000 stated value; 1,000 and -0- shares issued and outstanding at december 31, 2017 and 2016, respectively
      		                         980,000         
        authorized shares – 600,000,000 and 300,000,000 at december 31, 2017 and 2016, respectively
      		                                  
        issued and outstanding shares – 106,736,810 and 55,235,233 at december 31, 2017 and 2016, respectively
      		                         106,737         
        amounts due to emory university
      		                          22,000        
        series b convertible preferred stock, 1,000 stated value; 100 shares issued and outstanding at december 31, 2015 and 2014, respectively
      		                          76,095        
        series c convertible preferred stock, 1,000 stated value; 3,000 and -0- shares issued and outstanding at december 31, 2015 and 2014, respectively
      		                          983,941        
        authorized shares – 150,000,000 and 75,000,000 at december 31, 2015 and 2014, respectfully
      		                                  
        issued and outstanding shares – 31,950,813 at december 31, 2015 and 2014, respectively
      		                          31,951        
        amounts payable to emory university
      		                           78,917 129,370 677,327 182,980 163,021  156,225 
        series a convertible preferred stock, 1,000 stated value; -0- and 71 shares issued and outstanding at december 31, 2014 and 2013, respectively
      		                                  
        series b convertible preferred stock, 1,000 stated value; 100 and 1,650 shares issued and outstanding at december 31, 2014 and 2013, respectively
      		                           76,095       
        authorized shares – 75,000,000
      		                                  
        issued and outstanding shares – 31,950,813 and 23,765,180 at december 31, 2014 and 2013, respectively
      		                           31,951       
        other assets:
      		                                  
        licenses, net of accumulated amortization of 228,856 and 208,933 at december 31, 2012 and 2011 respectively
      		                            20,000      
        deposits and other assets
      		                            11,010 11,010     
        total other assets
      		                            31,010 50,933 507,201 90,675 115,560 140,446 
        preferred stock, .01 par value...
      		                            312,196      
        common stock, .001 par value...
      		                            18,733 16,443 15,655 781,628 747,449 731,628 
        deficit accumulated during the development stage
      		                            -24,767,142 -22,632,002 -20,285,176 -17,537,848 -14,253,596 -10,525,409 
        licenses, net of accumulated amortization of 208,933 and 184,047 at december 31, 2011 and 2010 respectively
      		                             39,923     
        deferred offering costs
      		                              430,402    
        prepaid expenses and other
      		                              48,830 44,615 299,286 49,748 
        licenses, net of accumulated amortization of 184,047 and 159,161 at december 31, 2010 and 2009 respectively
      		                              64,809    
        deposits and other
      		                              11,990 980   
        accounts payable and accrued expenses
      		                              338,628 408,344 176,260 390,993 
        licenses, net of accumulated amortization of 159,161 and 134,276
      		                                  
        at december 31, 2009 and 2008 respectively
      		                               89,695   
        stock subscriptions receivable
      		                                 897,450 
        licenses, net of accumulated amortization of 134,276 and 109,390 at december 31, 2008 and 2007, respectively
      		                                114,580  
        amounts payable to related parties
      		                                170,162  
        accrued salaries
      		                                 51,320 
        licenses, net of accumulated amortization of 109,390 and 84,504 at december 31, 2007 and 2006, respectively
      		                                 139,466 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 
                                  
          cash flows from operating activities:
        		                          
          net income
        		-5,064,042 -5,850,132 -7,592,408 -8,408,818 -5,927,620 -4,037,916 -5,383,809 -3,968,102 -2,241,699 -2,427,515 -13,743,003 -1,950,503 -1,314,033 -1,562,778 -1,336,522 -570,648 -455,204 -595,694 -590,593 -424,434 -654,148 -701,454 -634,345 -666,893 -637,043 -621,813 
          adjustments to reconcile net income to net cash from operating activities:
        		                          
          depreciation and amortization expense
        		                          
          stock-based compensation expense
        		101,640 157,736 261,458 297,947 269,513 246,039   207,178 205,151   122,031 76,790 40,463 6,000 12,000 6,000 36,756 32,348 105,172 153,224 194,299 142,512 80,364 52,549 
          changes in assets and liabilities:
        		                          
          accounts receivable
        		                          
          prepaid expenses and other current assets
        		112,385 -677,033 592,596 -8,299 57,188 -755,973 85,834 -312,052 -801,119 -138,368 -123,249 70,928 392 35,659 -106,976 27,424 27,425 27,425 27,426 -83,607 0 -30 -26,064 20,849 20,847 20,848 
          other assets
        		224,681 882,097 0 10,000 0 976,498                     
          accounts payable and accrued expenses
        		  -3,561,804 2,996,173    1,421,537 -133,235 -1,934,257 7,099,710 -23,372 91,773 -357,878 -114,080 87,954 -490,479 654,561 208,112 169,106 -5,401 267,465 66,706 233,611 145,697 107,105 
          total adjustments
        		3,122,994 166,402 -2,685,537 3,313,140 -109,524 275,044 -1,680,427 168,948 -1,591,879 -1,905,725 7,059,854 316,798 55,494 -58,249 -205,429 287,522 -111,669 237,074 309,833 80,506 197,700 384,093 132,804 387,166 256,858 240,240 
          net cash from operating activities
        		-1,941,048 -5,683,730 -10,277,945 -5,095,678 -6,037,144 -3,762,872 -7,064,236 -3,799,154 -3,833,578 -4,333,240 -6,683,149 -1,633,705 -1,258,539 -1,621,027 -1,541,951 -283,126 -566,873 -358,620 -280,760 -343,928 -456,448 -317,361 -501,541 -279,727 -380,185 -381,573 
          capital expenditures
        		0 0 0 0 0 0 0 0 0 0 0 0 0 0 -154,321 0 0 0 -3,334 0 0 -4,272 0 0 0 0 
          free cash flows
        		-1,941,048 -5,683,730 -10,277,945 -5,095,678 -6,037,144 -3,762,872 -7,064,236 -3,799,154 -3,833,578 -4,333,240 -6,683,149 -1,633,705 -1,258,539 -1,621,027 -1,696,272 -283,126 -566,873 -358,620 -284,094 -343,928 -456,448 -321,633 -501,541 -279,727 -380,185 -381,573 
          cash flows from investing activities:
        		                          
          purchase of equipment
        		  -18,949 -6,192   0 -51,875 -20,197 -62,186                 
          net cash from investing activities
        		  -18,949 -6,192   0 -51,875 -20,197 -62,186 0 -27,789   -154,321    -3,334 0 0 -4,272     
          cash flows from financing activities:
        		                          
          net proceeds from issuance of notes payable – related parties
        		                          
          net proceeds from sale of common stock and warrants
        		      0   9,229,248 0    0            
          net proceeds from warrant exercise
        		         24                 
          net cash from financing activities
        		      0 7,625,543 18,498,513 9,229,272 0 230,000 -25,801 12,580,013 -526 11,155,508 1,055,748 297,086 -1,924 696,876 496,874 237,917 250,000 600,000   
          net decrease in cash and cash equivalents
        		792,853 -5,683,730                         
          cash and cash equivalents at beginning of period
        		0 6,452,589 0 0 0 27,612,732 0 0 0 11,423,870 0 0 0 9,883,796 0 0 0 283,341 0 0 0 259,701 0 0 0 312,727 
          cash and cash equivalents at end of period
        		792,853 768,859 -6,234,452 -5,101,870 -6,060,949 23,849,860 -7,064,236 3,774,514 14,644,738 16,257,716 -6,683,149 -1,431,494 -1,304,269 20,842,782 -1,696,798 10,869,912 488,875 221,807 -286,018 352,948 40,426 175,985 -251,541 320,273 -380,185 571,154 
          depreciation expense
        		 19,576  17,319 17,318 17,319    12,269                 
          accounts payable, accrued expenses and other liabilities
        		 -215,974    -208,839                     
          none
        		                          
          depreciation and amortization
        		      14,071 17,675   11,715 8,935 13,354 4,517 16,673 -4,050 6,039 994 2,657 1,898 1,898 1,897 4,920 4,951 4,950 4,980 
          grant funds receivables
        		                          
          net proceeds from warrant exercises
        		      0 7,625,543   0 230,000 0 3,174,156             
          net increase in cash and cash equivalents
        		  -6,234,452 -5,101,870 -6,060,949 -3,762,872 -7,064,236 3,774,514 14,644,738 4,833,846 -6,683,149 -1,431,494 -1,304,269 10,958,986 -1,696,798 10,869,912 488,875 -61,534 -286,018   -83,716  320,273 -380,185 258,427 
          grant funds receivable
        		                       -14,757   
          warrant issued for technology license
        		                          
          gain on debt extinguishment
        		          0 0               
          repurchase of preferred stock
        		          0 0               
          principal repayment of note payable
        		          0 0 -24,801 -3,063  -2,988 -2,952 -2,914  -3,124 -3,126 -2,083     
          stock-based compensation expense for employees and directors
        		                          
          stock-based compensation expense for consultants
        		                          
          grant funds and other receivables
        		       0 99,526 -50,520 -49,006 0 0 182,663 -41,509 46,009 333,346 -451,906 34,882 -39,239 96,031 -38,463    54,758 
          deposits and other assets
        		       -1,196,778                   
          cash flows from investing activities
        		                          
          net proceeds from sale of common stock
        		            0 9,408,920             
          amortization of debt discount
        		              0            
          warrant issued for technology license fee
        		          0                
          purchase of property and equipment
        		          0    -154,321    -3,334 0 0 -4,272     
          net proceeds from sale of preferred stock
        		              0 0 0 300,000 0 700,000 500,000 240,000 0 600,000 0 590,000 
          net proceeds from issuance of note payable
        		              0 0           
          net proceeds from bridge financing
        		              0 0           
          stock-based compensation for employees and directors
        		                          
          stock-based compensation for consultants
        		                          
          principal repayment of notes payable
        		                          
          proceeds from issuance of notes payable
        		                          
          proceeds from issuance of note payable
        		                       0 0 50,000 
          net cash provided in financing activities
        		                         640,000 
          stock-based compensation expense, including common stock issued for services
        		                          
          proceeds from sale of common stock
        		                          
          proceeds from sale of preferred stock
        		                          
          accretion of preferred stock redemption value
        		                          
          deferred offering costs
        		                          
          deposits
        		                          
          proceeds from sale of property and equipment
        		                          
          net cash provided (used) by investing activities
        		                          
          supplemental disclosure of cash flow information interest paid
        		                          
          write-off of deferred offering costs
        		                          
          supplemental disclosure of cash flow information
        		                          
          interest paid
        		                          
          supplemental disclosure of non-cash investing and financing activities:
        		                          
          adjustments to reconcile net income to net cash from operating activities
        		                          
          changes in assets and liabilities
        		                          
          net cash provided (used) by financing activities
        		                          
          stock subscriptions receivable
        		                          
          in connection with the merger discussed in note 6, all of the outstanding shares of the company’s mandatory redeemable convertible preferred stock were converted into shares of common stock as of september 28, 2006.
        		                          
          unearned grant revenue
        		                          
          net proceeds from exercise of stock options
        		                          
          prepaid expenses
        		                          
          repayment of note payable