v3.10.0.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2018
Dec. 31, 2017
Current assets:    
Cash $ 1,612,485 $ 5,533,062
Restricted cash 66,510 66,510
Prepaid expenses and other 610,114 285,005
Total current assets 2,289,109 5,884,577
Property and equipment, net 8,243 27,846
Goodwill 3,283,379 3,283,379
Indefinite-lived intangible assets 9,243,128 9,243,128
Other assets 709,843 724,713
Total assets 15,533,702 19,163,643
Current liabilities:    
Accounts payable 512,595 786,779
Accrued expenses 800,376 1,135,653
Other current liabilities 6,703 21,234
Total current liabilities 1,319,674 1,943,666
Deferred tax liability 2,918,518 2,918,518
Total liabilities 4,238,192 4,862,184
Commitments (Note 10)
Stockholders' equity:    
Common stock, $0.001 par value; 45,454,546 shares authorized as of September 30, 2018 and December 31, 2017; 9,727,774 and 9,041,426 shares issued as of September 30, 2018 and December 31, 2017, respectively; 9,403,889 and 8,717,541 shares outstanding as of September 30, 2018 and December 31, 2017, respectively 9,726 9,040
Additional paid in capital 167,904,823 165,249,912
Accumulated deficit (151,594,367) (145,933,137)
Accumulated other comprehensive income 253,734 253,734
Treasury stock (5,281,180) (5,281,180)
Total stockholders' equity 11,295,510 14,301,459
Total liabilities and stockholders' equity 15,533,702 19,163,643
Series A [Member]    
Stockholders' equity:    
Preferred Stock, 10,000,000 shares authorized; Series B, $0.001 par value: 1,804,394 and 2,120,742 issued and outstanding as of September 30, 2018 and December 31, 2017, respectively; Series A, $0.001 par value: 970,000 shares issued and outstanding as of September 30, 2018 and December 31, 2017 970 970
Series B [Member]    
Stockholders' equity:    
Preferred Stock, 10,000,000 shares authorized; Series B, $0.001 par value: 1,804,394 and 2,120,742 issued and outstanding as of September 30, 2018 and December 31, 2017, respectively; Series A, $0.001 par value: 970,000 shares issued and outstanding as of September 30, 2018 and December 31, 2017 $ 1,804 $ 2,120

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v3.10.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Statement of Comprehensive Income [Abstract]        
Collaboration services $ 0 $ 85,000 $ 0 $ 85,000
Operating costs and expenses:        
Cost of research and development revenue 0 (97,028) 0 (156,119)
Research and development (735,879) (884,797) (2,369,219) (2,979,778)
General and administrative (1,079,008) (1,343,671) (3,267,597) (4,948,675)
Loss from operations (1,814,887) (2,240,496) (5,636,816) (7,999,572)
Other income (expense):        
Other income (expense) 2,292 (14,979) (24,838) (49,611)
Interest income (expense) 59 (425) 424 8,732
Total other income (expense) 2,351 (15,404) (24,414) (40,879)
Net loss $ (1,812,536) $ (2,255,900) $ (5,661,230) $ (8,040,451)
Basic and diluted loss per share $ (0.19) $ (0.26) $ (0.63) $ (0.93)
Weighted-average shares of common stock outstanding, basic and diluted 9,403,889 8,717,541 8,958,661 8,648,314

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v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (5,661,230) $ (8,040,451)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 12,540 19,337
Gain on sale of property and equipment (15,437) 0
Share-based payments 1,098,060 1,512,310
Warrant-based expense for services 24,940 (118,236)
Vendor share-based payments 52,281 97,781
Changes in operating assets and liabilities:    
Accounts receivable 0 2,957,500
Prepaid expenses and other assets (310,239) 13,268
Accounts payable, accrued expenses and other liabilities (623,992) 214,376
Net cash used in operating activities (5,423,077) (3,344,115)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment 0 (9,264)
Proceeds from sale of property and equipment 22,500 0
Net cash provided by (used in) investing activities 22,500 (9,264)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of warrants 1,480,000 0
Net cash provided by financing activities 1,480,000 0
Net change in cash and restricted cash (3,920,577) (3,353,379)
Cash and restricted cash at beginning of period 5,599,572 4,114,641
Cash and restricted cash at end of period 1,678,995 761,262
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 599 1,551
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Conversion of Series B preferred stock to common stock 316 185
Reclassification of common shares issuable to accounts payable 0 65,977
Issuance of common stock for promissory note converted in 2016 $ 0 $ 125

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