v3.19.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2019
Dec. 31, 2018
Current assets:    
Cash $ 12,044,472 $ 571,605
Restricted cash 0 66,510
Prepaid expenses and other 876,816 555,856
Total current assets 12,921,288 1,193,971
Property and equipment, net 1,590 4,956
Goodwill 0 3,283,379
Indefinite-lived intangible assets 9,243,128 9,243,128
Other assets 709,113 705,660
Total assets 22,875,119 14,431,094
Current liabilities:    
Accounts payable 1,158,555 934,147
Accrued expenses and other current liabilities 538,734 665,641
Total current liabilities 1,697,289 1,599,788
Deferred tax liability 2,918,518 2,918,518
Total liabilities 4,615,807 4,518,306
Stockholders' equity:    
Common stock, $0.001 par value; 12,500,000 shares authorized as of September 30, 2019 and December 31, 2018; 5,660,481 and 810,856 shares issued as of September 30, 2019 and December 31, 2018, respectively; 5,633,490 and 783,865 shares outstanding as of September 30, 2019 and December 31, 2018, respectively 5,660 811
Additional paid in capital 188,116,697 168,170,244
Accumulated deficit (164,838,373) (153,233,595)
Accumulated other comprehensive income 253,734 253,734
Treasury stock (5,281,180) (5,281,180)
Total stockholders' equity 18,259,312 9,912,788
Total liabilities and stockholders' equity 22,875,119 14,431,094
Series B [Member]    
Stockholders' equity:    
Preferred stock, 10,000,000 shares authorized 1,804 1,804
Series A [Member]    
Stockholders' equity:    
Preferred stock, 10,000,000 shares authorized $ 970 $ 970

Source

v3.19.3
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Operating costs and expenses:        
Research and development $ (3,520,638) $ (735,879) $ (4,471,939) $ (2,369,219)
General and administrative (2,142,505) (1,079,008) (3,896,657) (3,267,597)
Goodwill impairment (3,283,379) 0 (3,283,379) 0
Loss from operations (8,946,522) (1,814,887) (11,651,975) (5,636,816)
Other income (expense):        
Other income (expense) (223) 2,292 267 (24,838)
Interest income 46,617 59 46,930 424
Total other income (expense) 46,394 2,351 47,197 (24,414)
Net loss (8,900,128) (1,812,536) (11,604,778) (5,661,230)
Deemed dividend (1,404,932) 0 (5,284,379) 0
Net loss applicable to common stockholders $ (10,305,060) $ (1,812,536) $ (16,889,157) $ (5,661,230)
Basic and diluted loss per share $ (2.67) $ (2.31) $ (9.07) $ (7.58)
Weighted-average shares of common stock outstanding, basic and diluted 3,862,936 783,865 1,861,867 746,629

Source

v3.19.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (11,604,778) $ (5,661,230)
Adjustments to reconcile net loss to net cash used in operating activities:    
Acquired in-process research and development 3,031,226 0
Goodwill impairment 3,283,379 0
Depreciation 3,366 12,540
Amortization of right of use asset 16,629 0
Gain on sale of property and equipment (2,000) (15,437)
Share-based expense 683,104 1,123,000
Issuance of warrants in connection with reverse stock split 63,536 0
Vendor share-based expense 47,427 52,281
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (297,712) (310,239)
Accounts payable, accrued expenses and other liabilities 54,171 (623,992)
Net cash used in operating activities (4,721,652) (5,423,077)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sale of property and equipment 2,000 22,500
Net cash provided by investing activities 2,000 22,500
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from issuance of common stock and warrants in public offering 13,421,950 0
Net proceeds from issuance of common stock and warrants in registered direct offering 2,699,050 0
Proceeds from exercise of warrants 5,009 1,480,000
Net cash provided by financing activities 16,126,009 1,480,000
Net change in cash and restricted cash 11,406,357 (3,920,577)
Cash and restricted cash at beginning of period 638,115 5,599,572
Cash and restricted cash at end of period 12,044,472 1,678,995
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 8 599
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Right of use asset acquired in exchange for lease liability 43,330 0
Issuance of common stock to vendor 7 0
Issuance of common stock to acquire in-process research and development 3,031,226 0
Issuance of common stock to adjust for Reverse Stock Split 1 0
Issuance of common stock from cashless exercise of purchase warrants 1,890 0
Conversion of Series B preferred stock to common stock $ 0 $ 316

Source