v3.25.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash $ 5,163,676 $ 6,165,568
Prepaid expenses and other 313,620 421,954
Total current assets 5,477,296 6,587,522
Other assets 313,921 313,921
Total assets 5,791,217 6,901,443
Current liabilities:    
Accounts payable 240,293 283,615
Accrued expenses and other current liabilities 427,634 610,648
Total current liabilities 667,927 894,263
Total liabilities 667,927 894,263
Commitments and contingencies
Stockholders' equity:    
Common stock, $0.001 par value; 10,000,000 shares authorized as of March 31, 2025 and December 31, 2024; 1,544,840 shares issued as of March 31, 2025 and December 31, 2024; 1,542,139 shares outstanding as of March 31, 2025 and December 31, 2024 1,545 1,545
Additional paid in capital 208,244,999 208,225,748
Accumulated deficit (198,097,612) (197,194,471)
Accumulated other comprehensive income 253,734 253,734
Treasury stock (5,281,180) (5,281,180)
Total stockholders' equity 5,123,290 6,007,180
Total liabilities and stockholders' equity 5,791,217 6,901,443
Series B Preferred Stock [Member]    
Stockholders' equity:    
Preferred stock, value $ 1,804 $ 1,804

Source

v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenue:    
Royalty revenue $ 593,261 $ 510,817
Total revenue 593,261 510,817
Operating costs and expenses:    
Research and development (879,029) (944,321)
General and administrative (656,641) (834,910)
Total operating costs and expenses (1,535,670) (1,779,231)
Loss from operations (942,409) (1,268,414)
Other income:    
Other income 78 52
Interest income, net 39,190 73,249
Total other income, net 39,268 73,301
Net loss $ (903,141) $ (1,195,113)
Basic net loss per share $ (0.59) $ (0.78)
Diluted net loss per share $ (0.59) $ (0.78)
Weighted-average shares of common stock outstanding, basic 1,542,139 1,540,684
Weighted-average shares of common stock outstanding, diluted 1,542,139 1,540,684

Source

v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (903,141) $ (1,195,113)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based expense 19,251 77,074
Changes in operating assets and liabilities:    
Prepaid expenses and other 108,334 51,785
Accounts payable, accrued expenses and other liabilities (226,336) (93,091)
Net cash used in operating activities (1,001,892) (1,159,345)
Net change in cash (1,001,892) (1,159,345)
Cash at beginning of period 6,165,568 8,983,046
Cash at end of period 5,163,676 7,823,701
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest $ 0 $ 0

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