v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash $ 4,779,846 $ 6,165,568
Prepaid expenses and other 573,854 421,954
Total current assets 5,353,700 6,587,522
Other assets 0 313,921
Total assets 5,353,700 6,901,443
Current liabilities:    
Accounts payable 346,828 283,615
Accrued expenses and other current liabilities 556,602 610,648
Total current liabilities 903,430 894,263
Total liabilities 903,430 894,263
Commitments and contingencies  
Stockholders' equity:    
Common stock, $0.001 par value; 10,000,000 shares authorized as of June 30, 2025 and December 31, 2024; 1,544,840 shares issued as of June 30, 2025 and December 31, 2024; 1,542,139 shares outstanding as of June 30, 2025 and December 31, 2024 1,545 1,545
Additional paid in capital 208,260,682 208,225,748
Accumulated deficit (198,786,315) (197,194,471)
Accumulated other comprehensive income 253,734 253,734
Treasury stock (5,281,180) (5,281,180)
Total stockholders' equity 4,450,270 6,007,180
Total liabilities and stockholders' equity 5,353,700 6,901,443
Series B Preferred Stock [Member]    
Stockholders' equity:    
Preferred stock, value $ 1,804 $ 1,804

Source

v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue:        
Royalty revenue $ 589,897 $ 726,404 $ 1,183,158 $ 1,237,221
Total revenue 589,897 726,404 1,183,158 1,237,221
Operating costs and expenses:        
Research and development (656,557) (933,771) (1,535,586) (1,878,092)
General and administrative (657,752) (1,130,029) (1,314,393) (1,964,939)
Total operating costs and expenses (1,314,309) (2,063,800) (2,849,979) (3,843,031)
Loss from operations (724,412) (1,337,396) (1,666,821) (2,605,810)
Other income (expense):        
Other income (expense) 1,477 (21) 1,555 31
Interest income, net 34,232 63,447 73,422 136,696
Total other income 35,709 63,426 74,977 136,727
Net loss $ (688,703) $ (1,273,970) $ (1,591,844) $ (2,469,083)
Basic net loss per share $ (0.45) $ (0.83) $ (1.03) $ (1.60)
Diluted net loss per share $ (0.45) $ (0.83) $ (1.03) $ (1.60)
Weighted-average shares of common stock outstanding, basic 1,542,139 1,540,799 1,542,139 1,540,741
Weighted-average shares of common stock outstanding, diluted 1,542,139 1,540,799 1,542,139 1,540,741

Source

v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (1,591,844) $ (2,469,083)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based expense 34,934 119,170
Changes in operating assets and liabilities:    
Prepaid expenses and other (151,900) (112,553)
Other assets 313,921 0
Accounts payable, accrued expenses and other liabilities 9,167 778,017
Net cash used in operating activities (1,385,722) (1,684,449)
Net change in cash (1,385,722) (1,684,449)
Cash at beginning of period 6,165,568 8,983,046
Cash at end of period 4,779,846 7,298,597
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest $ 0 $ 0

Source