Balance Sheets - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 132,470,624	$ 137,035,017
Prepaid expenses and other current assets	1,238,243	1,238,328
Total current assets	133,708,867	138,273,345
Property and equipment, net	553,471	620,673
Prepaid research and development expenses	1,560,607	1,560,607
Deposits	52,320	52,320
Operating lease right-of-use asset	2,144,638	2,325,224
Total assets	138,019,903	142,832,169
Current liabilities:
Accounts payable	2,140,800	2,089,939
Accrued expenses	7,777,918	9,439,881
Operating lease liabilities	923,433	898,549
Total current liabilities	10,842,151	12,428,369
Noncurrent accrued expenses	373,911	264,329
Noncurrent operating lease liabilities	1,680,321	1,920,015
Total liabilities	12,896,383	14,612,713
Stockholders' equity:
Preferred stock; $0.001 par value; 5,000,000 shares authorized, no shares issued and outstanding at March 31, 2021 and December 31, 2020
Common stock; $0.001 par value; 100,000,000 shares authorized; 51,539,010 shares issued and outstanding at March 31 ,2021; 49,017,622 shares issued and outstanding at December 31, 2020	51,539	49,018
Additional paid-in capital	448,815,593	437,639,991
Accumulated deficit	(323,743,612)	(309,469,553)
Total stockholders' equity	125,123,520	128,219,456
Total liabilities and stockholders' equity	$ 138,019,903	$ 142,832,169

Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due after one year (or beyond the operating cycle if longer), including liabilities for compensation costs, fringe benefits other than pension and postretirement obligations, rent, contractual rights and obligations, and statutory obligations.

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- Definition

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).