v3.23.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash $ 13,097,265 $ 18,244,030
Prepaid expenses and other 556,094 479,399
Total current assets 13,653,359 18,723,429
Other assets 1,066,931 1,091,931
Total assets 14,720,290 19,815,360
Current liabilities:    
Accounts payable 287,360 362,470
Accrued expenses and other current liabilities 785,796 1,058,633
Total current liabilities 1,073,156 1,421,103
Total liabilities 1,073,156 1,421,103
Commitments and contingencies (Note 14)
Stockholders' equity:    
Common stock, $0.001 par value; 100,000,000 and 50,000,000 shares authorized as of December 31, 2022 and December 31, 2021; 15,193,587 and 13,466,603 shares issued as of December 31, 2022 and December 31, 2021, respectively; 15,166,596 and 13,439,612 shares outstanding as of December 31, 2022 and December 31, 2021, respectively 15,192 13,465
Additional paid in capital 207,756,232 205,952,729
Accumulated deficit (189,099,618) (182,547,265)
Accumulated other comprehensive income 253,734 253,734
Treasury stock (5,281,180) (5,281,180)
Total stockholders' equity 13,647,134 18,394,257
Total liabilities and stockholders' equity 14,720,290 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

PDF HTML
10-K Filing
ZIP XLS HTML
XBRL
v3.23.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Revenue    
Royalty revenue $ 1,706,925 $ 1,160,692
Total revenue 1,706,925 1,160,692
Operating costs and expenses:    
Research and development (4,770,834) (3,163,485)
General and administrative (3,653,999) (3,743,972)
Total operating costs and expenses (8,424,833) (6,907,457)
Loss from operations (6,717,908) (5,746,765)
Other income (expense):    
Other income (expense) (1,597) 1,119
Interest income, net 167,152 100,467
Total other income, net 165,555 101,586
Net loss $ (6,552,353) $ (5,645,179)

Source

PDF HTML
10-K Filing
ZIP XLS HTML
XBRL
v3.23.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (6,552,353) $ (5,645,179)
Adjustments to reconcile net loss to net cash used in operating activities:    
Acquired in-process research and development 1,793,750 0
Amortization of right of use asset 27,043 35,482
Share-based expense 511,480 410,437
Changes in operating assets and liabilities:    
Prepaid expenses and other (103,738) 286,007
Other long-term assets 25,000 (281,946)
Accounts payable, accrued expenses and other liabilities (347,947) 457,132
Net cash used in operating activities (4,646,765) (4,738,067)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Net cash paid to acquire in-process research and development (500,000) 0
Net cash used in investing activities (500,000) 0
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from issuance of common stock and warrants 0 11,450,866
Proceeds from exercise of warrants 0 3,679
Net cash provided by financing activities 0 11,454,545
Net change in cash (5,146,765) 6,716,478
Cash at beginning of period 18,244,030 11,527,552
Cash at end of period 13,097,265 18,244,030
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 0 0
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Issuance of common stock to acquire in-process research and development 1,293,750 0
Issuance of common stock to vendor 0 7
Issuance of common stock in connection with warrant buyout 0 41,070
Issuance of common stock from cashless exercise of purchase warrants $ 2 $ 6

Source

PDF HTML
10-K Filing
ZIP XLS HTML
XBRL