v3.20.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash $ 8,066,460 $ 10,367,920
Prepaid expenses and other 1,049,339 722,079
Total current assets 9,115,799 11,089,999
Property and equipment, net 0 757
Indefinite-lived intangible assets 9,243,128 9,243,128
Other assets 704,431 1,213,042
Total assets 19,063,358 21,546,926
Current liabilities:    
Accounts payable 250,075 931,128
Accrued expenses and other current liabilities 537,253 484,029
Total current liabilities 787,328 1,415,157
Deferred tax liability 2,918,518 2,918,518
Total liabilities 3,705,846 4,333,675
Commitments (Note 10)
Stockholders' equity:    
Common stock, $0.001 par value; 12,500,000 shares authorized as of June 30, 2020 and December 31, 2019; 6,323,218 and 6,092,432 shares issued as of June 30, 2020 and December 31, 2019, respectively; 6,296,227 and 6,065,441 shares outstanding as of June 30, 2020 and December 31, 2019, respectively 6,322 6,092
Additional paid in capital 188,517,553 188,240,451
Accumulated deficit (168,141,691) (166,008,620)
Accumulated other comprehensive income 253,734 253,734
Treasury stock (5,281,180) (5,281,180)
Total stockholders' equity 15,357,512 17,213,251
Total liabilities and stockholders' equity 19,063,358 21,546,926
Preferred Class A [Member]    
Stockholders' equity:    
Preferred stock, 10,000,000 shares authorized 970 970
Preferred Class B [Member]    
Stockholders' equity:    
Preferred stock, 10,000,000 shares authorized $ 1,804 $ 1,804

Source

v3.20.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenue        
Total revenues $ 112,927 $ 0 $ 169,676 $ 0
Operating costs and expenses:        
Research and development (307,900) (487,519) (667,551) (951,301)
General and administrative (787,486) (890,779) (1,715,366) (1,754,152)
Total operating costs and expenses (1,095,386) (1,378,298) (2,382,917) (2,705,453)
Loss from operations (982,459) (1,378,298) (2,213,241) (2,705,453)
Other income:        
Other income 192 735 58 490
Interest income, net 28,625 163 80,112 313
Total other income 28,817 898 80,170 803
Net loss (953,642) (1,377,400) (2,133,071) (2,704,650)
Deemed dividend 0 0 0 (3,879,447)
Net loss applicable to common stockholders $ (953,642) $ (1,377,400) $ (2,133,071) $ (6,584,097)
Basic and diluted loss per share $ (0.15) $ (1.56) $ (0.34) $ (7.79)
Weighted-average shares of common stock outstanding, basic and diluted 6,288,351 882,107 6,260,841 844,749
Royalty [Member]        
Revenue        
Total revenues $ 112,927 $ 0 $ 169,676 $ 0

Source

v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (2,133,071) $ (2,704,650)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 757 2,412
Amortization of right of use asset 13,765 10,179
Gain on sale of property and equipment 0 (2,000)
Gain on settlement with vendor (143,639) 0
Share-based expense 277,332 450,667
Vendor share-based payments 0 32,427
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 167,586 (775,258)
Accounts payable, accrued expenses and other liabilities (484,190) 680,767
Net cash used in operating activities (2,301,460) (2,305,456)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sale of property and equipment 0 2,000
Net cash provided by investing activities 0 2,000
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from issuance of common stock and warrants 0 2,699,559
Net cash provided by financing activities 0 2,699,559
Net change in cash (2,301,460) 396,103
Cash at beginning of period 10,367,920 638,115
Cash at end of period 8,066,460 1,034,218
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 0 8
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Right of use assets obtained in exchange for lease liability 0 43,330
Issuance of common stock from cashless exercise of purchase warrants $ 229 $ 0

Source