v3.24.2.u1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash $ 7,298,597 $ 8,983,046
Prepaid expenses, receivables and other 716,381 603,828
Total current assets 8,014,978 9,586,874
Other assets 1,018,352 1,018,352
Total assets 9,033,330 10,605,226
Current liabilities:    
Accounts payable 283,586 240,832
Accrued expenses and other current liabilities 1,304,016 568,753
Total current liabilities 1,587,602 809,585
Total liabilities 1,587,602 809,585
Commitments and contingencies
Stockholders' equity:    
Common stock, $0.001 par value; 10,000,000 shares authorized as of June 30, 2024 and December 31, 2023; 1,543,802 and 1,543,385 shares issued as of June 30, 2024 and December 31, 2023, respectively; 1,541,101 and 1,540,684 shares outstanding as of June 30, 2024 and December 31, 2023, respectively 1,544 1,544
Additional paid in capital 208,173,105 208,053,935
Accumulated deficit (195,703,279) (193,234,196)
Accumulated other comprehensive income 253,734 253,734
Treasury stock (5,281,180) (5,281,180)
Total stockholders' equity 7,445,728 9,795,641
Total liabilities and stockholders' equity 9,033,330 10,605,226
Series B Preferred Stock [Member]    
Stockholders' equity:    
Preferred Stock, Value, Issued $ 1,804 $ 1,804

Source

v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue:        
Royalty revenue $ 726,404 $ 651,005 $ 1,237,221 $ 1,256,849
Total revenue 726,404 651,005 1,237,221 1,256,849
Operating costs and expenses:        
Research and development (933,771) (903,243) (1,878,092) (1,498,519)
General and administrative (1,130,029) (945,950) (1,964,939) (1,871,693)
Total operating costs and expenses (2,063,800) (1,849,193) (3,843,031) (3,370,212)
Loss from operations (1,337,396) (1,198,188) (2,605,810) (2,113,363)
Other income (expense):        
Other (expense) income (21) 21,122 31 25,642
Interest income, net 63,447 126,103 136,696 180,204
Total other income 63,426 147,225 136,727 205,846
Net loss $ (1,273,970) $ (1,050,963) $ (2,469,083) $ (1,907,517)

Source

v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net loss $ (1,273,970) $ (1,050,963) $ (2,469,083) $ (1,907,517)
Adjustments to reconcile net loss to net cash used in operating activities:        
Share-based expense 42,096 69,389 119,170 138,241
Changes in operating assets and liabilities:        
Prepaid expenses, receivables and other     (112,553) (762,941)
Other assets     0 362,500
Accounts payable, accrued expenses and other liabilities     778,017 (201,841)
Net cash used in operating activities     (1,684,449) (2,371,558)
Net change in cash     (1,684,449) (2,371,558)
Cash at beginning of period     8,983,046 13,097,265
Cash at end of period $ 7,298,597 $ 10,725,707 7,298,597 10,725,707
SUPPLEMENTAL CASH FLOW INFORMATION:        
Cash paid for interest     $ 0 $ 0

Source