v3.22.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Current assets:    
Cash $ 16,156,339 $ 18,244,030
Prepaid expenses and other 732,368 479,399
Total current assets 16,888,707 18,723,429
Other assets 1,094,802 1,091,931
Total assets 17,983,509 19,815,360
Current liabilities:    
Accounts payable 280,680 362,470
Accrued expenses and other current liabilities 782,588 1,058,633
Total current liabilities 1,063,268 1,421,103
Total liabilities 1,063,268 1,421,103
Commitments and contingencies (Note 9)
Stockholders' equity:    
Common stock, $0.001 par value; 50,000,000 shares authorized as of March 31, 2022 and December 31, 2021; 13,468,287 and 13,466,603 shares issued as of March 31, 2022 and December 31, 2021, respectively; 13,441,296 and 13,439,612 shares outstanding as of March 31, 2022 and December 31, 2021, respectively 13,467 13,465
Additional paid in capital 206,072,322 205,952,729
Accumulated deficit (184,140,876) (182,547,265)
Accumulated other comprehensive income 253,734 253,734
Treasury stock (5,281,180) (5,281,180)
Total stockholders' equity 16,920,241 18,394,257
Total liabilities and stockholders' equity 17,983,509 19,815,360
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

v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Revenue:    
Royalty revenue $ 388,993 $ 191,216
Total revenue 388,993 191,216
Operating costs and expenses:    
Research and development (1,101,399) (629,729)
General and administrative (907,309) (930,578)
Total operating costs and expenses (2,008,708) (1,560,307)
Loss from operations (1,619,715) (1,369,091)
Other income:    
Other income 199 884
Interest income 25,905 22,262
Total other income 26,104 23,146
Net loss $ (1,593,611) $ (1,345,945)
Basic and diluted loss per share $ (0.12) $ (0.15)
Weighted-average shares of common stock outstanding, basic and diluted 13,440,057 8,746,263

Source

v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (1,593,611) $ (1,345,945)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of right of use asset 9,475 8,413
Share-based expense 119,595 76,284
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (265,315) (109,728)
Accounts payable, accrued expenses and other liabilities (357,835) (148,212)
Net cash used in operating activities (2,087,691) (1,519,188)
Net change in cash (2,087,691) (1,519,188)
Cash at beginning of period 18,244,030 11,527,552
Cash at end of period 16,156,339 10,008,364
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 $ 2 $ 1

Source