XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Royalties $ 136,401 $ 51,687 $ 246,738 $ 150,560
Services 0 0 0 1,495
Total revenues 136,401 51,687 246,738 152,055
Costs and expenses:        
Research and development 2,854,812 2,818,824 8,036,225 8,297,763
Selling, general and administrative 1,644,211 1,440,339 4,799,457 4,243,490
Total operating expenses 4,499,023 4,259,163 12,835,682 12,541,253
Loss from operations (4,362,622) (4,207,476) (12,588,944) (12,389,198)
Interest income 15,864 53,700 67,358 188,204
Gain (loss) from change in fair value of derivative financial instruments—warrants (144,035) 13,330 (186,072) 27,359
Other income (expense), net (5,738) (1,103) (1,967) 2,012
Net loss (4,496,531) (4,141,549) (12,709,625) (12,171,623)
Preferred stock dividend payable on Series A Convertible Preferred Stock (6,060) (6,060) (18,180) (18,180)
Net loss attributable to common stockholders $ (4,502,591) $ (4,147,609) $ (15,994,289) $ (12,458,072)
Net loss per common share - basic and diluted (in dollars per share) $ (0.19) $ (0.69) $ (1.00) $ (2.40)
Weighted-average shares outstanding - basic and diluted (in shares) 23,341,218 6,024,679 15,941,665 5,180,221
Series C Convertible Preferred Stock        
Costs and expenses:        
Deemed dividend recognized for beneficial conversion features of Convertible Preferred Stock issuance $ 0 $ 0 $ 0 $ (268,269)
Series D Convertible Preferred Stock        
Costs and expenses:        
Deemed dividend recognized for beneficial conversion features of Convertible Preferred Stock issuance 0 0 (601,767) 0
Series E Convertible Preferred Stock        
Costs and expenses:        
Deemed dividend recognized for beneficial conversion features of Convertible Preferred Stock issuance $ 0 $ 0 $ (2,664,717) $ 0