v3.21.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2021
Dec. 31, 2020
Current assets:    
Cash $ 10,008,364 $ 11,527,552
Prepaid expenses and other 1,027,749 841,958
Total current assets 11,036,113 12,369,510
Other assets 725,509 809,985
Total assets 11,761,622 13,179,495
Current liabilities:    
Accounts payable 207,811 327,396
Accrued expenses and other current liabilities 590,380 609,532
Total current liabilities 798,191 936,928
Other long-term liabilities 17,568 27,043
Total liabilities 815,759 963,971
Commitments (Note 11)
Stockholders' equity:    
Preferred stock, 10,000,000 shares authorized 2,774 2,774
Common stock, $0.001 par value; 50,000,000 shares authorized as of March 31, 2021 and December 31, 2020; 8,773,683 and 8,772,198 shares issued as of March 31, 2021 and December 31, 2020, respectively; 8,746,692 and 8,745,207 shares outstanding as of March 31, 2021 and December 31, 2020, respectively 8,772 8,771
Additional paid in capital 194,209,794 194,133,511
Accumulated deficit (178,248,031) (176,902,086)
Accumulated other comprehensive income 253,734 253,734
Treasury stock (5,281,180) (5,281,180)
Total stockholders' equity 10,945,863 12,215,524
Total liabilities and stockholders' equity 11,761,622 13,179,495
Preferred Class B [Member]    
Stockholders' equity:    
Preferred stock, 10,000,000 shares authorized 1,804 1,804
Preferred Class A [Member]    
Stockholders' equity:    
Preferred stock, 10,000,000 shares authorized $ 970 $ 970

Source

v3.21.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenue    
Total revenues $ 191,216 $ 56,749
Operating costs and expenses:    
Research and development (629,729) (359,651)
General and administrative (930,578) (927,880)
Total operating costs and expenses (1,560,307) (1,287,531)
Loss from operations (1,369,091) (1,230,782)
Other income (expense):    
Other income (expense) 884 (134)
Interest income 22,262 51,487
Total other income 23,146 51,353
Net loss $ (1,345,945) $ (1,179,429)
Basic and diluted loss per share $ (0.15) $ (0.19)
Weighted-average shares of common stock outstanding, basic and diluted 8,746,263 6,233,331
Royalty [Member]    
Revenue    
Total revenues $ 191,216 $ 56,749

Source

v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (1,345,945) $ (1,179,429)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 0 591
Amortization of right of use asset 8,413 6,824
Share-based expense 76,284 165,598
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (109,728) (86,448)
Accounts payable, accrued expenses and other liabilities (148,212) 92,144
Net cash used in operating activities (1,519,188) (1,000,720)
Net change in cash (1,519,188) (1,000,720)
Cash at beginning of period 11,527,552 10,367,920
Cash at end of period 10,008,364 9,367,200
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 0 0
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Issuance of common stock from cashless exercise of purchase warrants $ 1 $ 219

Source