v3.21.2
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Sep. 30, 2021
Dec. 31, 2020
Current assets:    
Cash $ 19,702,729 $ 11,527,552
Prepaid expenses and other 878,243 841,958
Total current assets 20,580,972 12,369,510
Other assets 704,430 809,985
Total assets 21,285,402 13,179,495
Current liabilities:    
Accounts payable 248,485 327,396
Accrued expenses and other current liabilities 873,010 609,532
Total current liabilities 1,121,495 936,928
Other long-term liabilities 27,043
Total liabilities 1,121,495 963,971
Commitments (Note 11)
Stockholders' equity:    
Preferred Stock, Value, Issued
Common stock, $0.001 par value; 50,000,000 shares authorized as of September 30, 2021 and December 31, 2020; 13,413,013 and 8,772,198 shares issued as of September 30, 2021 and December 31, 2020, respectively; 13,386,022 and 8,745,207 shares outstanding as of September 30, 2021 and December 31, 2020, respectively 13,411 8,771
Additional paid in capital 205,880,753 194,133,511
Accumulated deficit (180,705,585) (176,902,086)
Accumulated other comprehensive income 253,734 253,734
Treasury stock (5,281,180) (5,281,180)
Total stockholders' equity 20,163,907 12,215,524
Total liabilities and stockholders' equity 21,285,402 13,179,495
Series B Preferred Stock [Member]    
Stockholders' equity:    
Preferred Stock, Value, Issued 1,804 1,804
Series A Preferred Stock [Member]    
Stockholders' equity:    
Preferred Stock, Value, Issued $ 970 $ 970

Source

v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenue:        
Total revenue $ 349,269 $ 115,934 $ 828,088 $ 285,610
Operating costs and expenses:        
Research and development (780,153) (573,061) (1,934,432) (1,240,612)
General and administrative (945,115) (804,149) (2,766,397) (2,519,515)
Asset impairment charges 0 (9,243,128) 0 (9,243,128)
Total operating costs and expenses (1,725,268) (10,620,338) (4,700,829) (13,003,255)
Loss from operations (1,375,999) (10,504,404) (3,872,741) (12,717,645)
Other income (expense):        
Other income (expense) (2,906) 585 (1,784) 643
Interest income, net 28,029 24,931 71,026 105,043
Total other income 25,123 25,516 69,242 105,686
Loss before income taxes (1,350,876) (10,478,888) (3,803,499) (12,611,959)
Income tax benefit 0 2,918,518 0 2,918,518
Net loss $ (1,350,876) $ (7,560,370) $ (3,803,499) $ (9,693,441)
Basic and diluted net loss per share $ (0.13) $ (1.20) $ (0.41) $ (1.55)
Weighted-average shares of common stock outstanding, basic and diluted 10,162,167 6,296,227 9,223,560 6,272,722
Royalty [Member]        
Revenue:        
Total revenue $ 349,269 $ 115,934 $ 828,088 $ 285,610

Source

v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (3,803,499) $ (9,693,441)
Adjustments to reconcile net loss to net cash used in operating activities:    
Asset impairment charges (0) 9,243,128
Deferred income taxes 0 (2,918,518)
Depreciation 0 757
Amortization of right of use asset 26,199 20,042
Gain on settlement with vendor 0 (143,639)
Share-based expense 297,337 388,131
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 43,071 273,052
Accounts payable, accrued expenses and other liabilities 157,524 (483,045)
Net cash used in operating activities (3,279,368) (3,313,533)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from issuance of common stock and warrants 11,450,866 0
Proceeds from exercise of warrants 3,679 0
Net cash provided by financing activities 11,454,545 0
Net change in cash 8,175,177 (3,313,533)
Cash at beginning of period 11,527,552 10,367,920
Cash at end of period 19,702,729 7,054,387
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 0 0
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Issuance of common stock to vendor 7 1
Issuance of common stock from cashless exercise of purchase warrants $ 4 $ 229

Source