Balance Sheets - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 60,244,377	$ 90,254,890
Prepaid expenses and other current assets	1,019,240	533,804
Total current assets	61,263,617	90,788,694
Property and equipment, net	332,971	368,842
Prepaid research and development expenses	2,221,407	1,560,607
Deposits	52,320	52,320
Operating lease right-of-use asset	1,173,706	1,576,185
Total assets	65,044,021	94,346,648
Current liabilities:
Accounts payable	1,270,945	2,107,615
Accrued expenses	6,610,665	8,715,368
Lease liabilities	1,056,176	1,001,407
Total current liabilities	8,937,786	11,824,390
Lease liabilities, net of current portion	378,792	918,607
Total liabilities	9,316,578	12,742,997
Stockholders' equity:
Preferred stock; $0.001 par value; 5,000,000 shares authorized, no shares issued and outstanding at June 30, 2022 and December 31, 2021
Common stock; $0.001 par value; 100,000,000 shares authorized; 52,423,944 shares issued and outstanding at June 30, 2022; 52,313,894 shares issued and outstanding at December 31, 2021	52,424	52,314
Additional paid-in capital	456,492,617	454,448,327
Accumulated deficit	(400,817,598)	(372,896,990)
Total stockholders' equity	55,727,443	81,603,651
Total liabilities and stockholders' equity	$ 65,044,021	$ 94,346,648

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).

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- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).