v3.24.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash $ 6,839,560 $ 8,983,046
Prepaid expenses and other 188,088 603,828
Total current assets 7,027,648 9,586,874
Other assets 1,018,352 1,018,352
Total assets 8,046,000 10,605,226
Current liabilities:    
Accounts payable 243,343 240,832
Accrued expenses and other current liabilities 766,064 568,753
Total current liabilities 1,009,407 809,585
Total liabilities 1,009,407 809,585
Commitments and contingencies
Stockholders' equity:    
Common stock, $0.001 par value; 10,000,000 shares authorized as of September 30, 2024 and December 31, 2023; 1,544,840 and 1,543,385 shares issued as of September 30, 2024 and December 31, 2023, respectively; 1,542,139 and 1,540,684 shares outstanding as of September 30, 2024 and December 31, 2023, respectively 1,545 1,544
Additional paid in capital 208,200,640 208,053,935
Accumulated deficit (196,139,950) (193,234,196)
Accumulated other comprehensive income 253,734 253,734
Treasury stock (5,281,180) (5,281,180)
Total stockholders' equity 7,036,593 9,795,641
Total liabilities and stockholders' equity 8,046,000 10,605,226
Series B Preferred Stock [Member]    
Stockholders' equity:    
Preferred stock, value $ 1,804 $ 1,804

Source

v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue:        
Royalty revenue $ 614,243 $ 611,174 $ 1,851,464 $ 1,868,023
Total revenue 614,243 611,174 1,851,464 1,868,023
Operating costs and expenses:        
Research and development (367,985) (1,020,618) (2,246,077) (2,519,137)
General and administrative (745,731) (737,241) (2,710,670) (2,608,934)
Total operating costs and expenses (1,113,716) (1,757,859) (4,956,747) (5,128,071)
Loss from operations (499,473) (1,146,685) (3,105,283) (3,260,048)
Other income (expense):        
Other income (expense) 1,504 (666) 1,535 24,976
Interest income, net 61,298 91,796 197,994 272,000
Total other income, net 62,802 91,130 199,529 296,976
Net loss $ (436,671) $ (1,055,555) $ (2,905,754) $ (2,963,072)
Basic net loss per share $ (0.28) $ (0.69) $ (1.89) $ (1.94)
Diluted net loss per share $ (0.28) $ (0.69) $ (1.89) $ (1.94)
Weighted-average shares of common stock outstanding, basic 1,541,722 1,532,600 1,541,070 1,524,717
Weighted-average shares of common stock outstanding, diluted 1,541,722 1,532,600 1,541,070 1,524,717

Source

v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net loss $ (436,671) $ (1,055,555) $ (2,905,754) $ (2,963,072)
Adjustments to reconcile net loss to net cash used in operating activities:        
Share-based expense     146,706 208,507
Changes in operating assets and liabilities:        
Prepaid expenses and other     415,740 (924,468)
Other assets     0 362,500
Accounts payable, accrued expenses and other liabilities     199,822 (4,659)
Net cash used in operating activities     (2,143,486) (3,321,192)
Net change in cash     (2,143,486) (3,321,192)
Cash at beginning of period     8,983,046 13,097,265
Cash at end of period $ 6,839,560 $ 9,776,073 6,839,560 9,776,073
SUPPLEMENTAL CASH FLOW INFORMATION:        
Cash paid for interest     $ 0 $ 0

Source