v3.23.2
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash $ 10,725,707 $ 13,097,265
Prepaid expenses and other 1,319,035 556,094
Total current assets 12,044,742 13,653,359
Other assets 704,431 1,066,931
Total assets 12,749,173 14,720,290
Current liabilities:    
Accounts payable 221,281 287,360
Accrued expenses and other current liabilities 650,034 785,796
Total current liabilities 871,315 1,073,156
Total liabilities 871,315 1,073,156
Commitments and contingencies (Note 10)
Stockholders' equity:    
Common stock, $0.001 par value; 10,000,000 shares authorized as of June 30, 2023 and December 31, 2022; 1,535,301 and 1,519,360 shares issued as of June 30, 2023 and December 31, 2022, respectively; 1,532,600 and 1,516,659 shares outstanding as of June 30, 2023 and December 31, 2022, respectively 1,536 1,520
Additional paid in capital 207,908,129 207,769,904
Accumulated deficit (191,007,135) (189,099,618)
Accumulated other comprehensive income 253,734 253,734
Treasury stock (5,281,180) (5,281,180)
Total stockholders' equity 11,877,858 13,647,134
Total liabilities and stockholders' equity 12,749,173 14,720,290
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

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v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue:        
Royalty revenue $ 651,005 $ 416,710 $ 1,256,849 $ 805,703
Total revenue 651,005 416,710 1,256,849 805,703
Operating costs and expenses:        
Research and development (903,243) (2,077,499) (1,498,519) (3,178,898)
General and administrative (945,950) (1,026,290) (1,871,693) (1,933,599)
Total operating costs and expenses (1,849,193) (3,103,789) (3,370,212) (5,112,497)
Loss from operations (1,198,188) (2,687,079) (2,113,363) (4,306,794)
Other income (expense):        
Other income (expense) 21,122 (1,076) 25,642 (877)
Interest income, net 126,103 15,965 180,204 41,870
Total other income 147,225 14,889 205,846 40,993
Net loss $ (1,050,963) $ (2,672,190) $ (1,907,517) $ (4,265,801)

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v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (1,907,517) $ (4,265,801)
Adjustments to reconcile net loss to net cash used in operating activities:    
Acquired in-process research and development 0 1,305,000
Amortization of right of use asset 0 19,087
Share-based expense 138,241 255,465
Changes in operating assets and liabilities:    
Prepaid expenses and other (762,941) 11,579
Other assets 362,500 0
Accounts payable, accrued expenses and other liabilities (201,841) (141,920)
Net cash used in operating activities (2,371,558) (2,816,590)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Net cash paid to acquire in-process research and development 0 (500,000)
Net cash used in investing activities 0 (500,000)
Net change in cash (2,371,558) (3,316,590)
Cash at beginning of period 13,097,265 18,244,030
Cash at end of period 10,725,707 14,927,440
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 $ 0 $ 805,000

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