v3.22.2
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Current assets:    
Cash $ 14,927,440 $ 18,244,030
Prepaid expenses and other 448,733 479,399
Total current assets 15,376,173 18,723,429
Other assets 1,091,931 1,091,931
Total assets 16,468,104 19,815,360
Current liabilities:    
Accounts payable 472,699 362,470
Accrued expenses and other current liabilities 806,484 1,058,633
Total current liabilities 1,279,183 1,421,103
Total liabilities 1,279,183 1,421,103
Stockholders' equity:    
Common stock, $0.001 par value; 50,000,000 shares authorized as of June 30, 2022 and December 31, 2021; 14,343,587 and 13,466,603 shares issued as of June 30, 2022 and December 31, 2021, respectively; 14,316,596 and 13,439,612 shares outstanding as of June 30, 2022 and December 31, 2021, respectively 14,342 13,465
Additional paid in capital 207,012,317 205,952,729
Accumulated deficit (186,813,066) (182,547,265)
Accumulated other comprehensive income 253,734 253,734
Treasury stock (5,281,180) (5,281,180)
Total stockholders' equity 15,188,921 18,394,257
Total liabilities and stockholders' equity 16,468,104 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

v3.22.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenue:        
Royalty revenue $ 416,710 $ 287,603 $ 805,703 $ 478,819
Total revenue 416,710 287,603 805,703 478,819
Operating costs and expenses:        
Research and development (2,077,499) (524,550) (3,178,898) (1,154,279)
General and administrative (1,026,290) (890,704) (1,933,599) (1,821,282)
Total operating costs and expenses (3,103,789) (1,415,254) (5,112,497) (2,975,561)
Loss from operations (2,687,079) (1,127,651) (4,306,794) (2,496,742)
Other income (expense):        
Other income (expense) (1,076) 238 (877) 1,122
Interest income, net 15,965 20,735 41,870 42,997
Total other income 14,889 20,973 40,993 44,119
Net loss $ (2,672,190) $ (1,106,678) $ (4,265,801) $ (2,452,623)

Source

v3.22.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (4,265,801) $ (2,452,623)
Adjustments to reconcile net loss to net cash used in operating activities:    
Acquired in-process research and development 1,305,000 0
Amortization of right of use asset 19,087 17,160
Share-based expense 255,465 186,206
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 11,579 1,059
Accounts payable, accrued expenses and other liabilities (141,920) 2,200
Net cash used in operating activities (2,816,590) (2,245,998)
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
Net change in cash (3,316,590) (2,245,998)
Cash at beginning of period 18,244,030 11,527,552
Cash at end of period 14,927,440 9,281,554
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 805,000 0
Issuance of common stock from cashless exercise of purchase warrants $ 2 $ 1

Source