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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 2,386,314 $ 5,786,348
Short-term investment securities 38,816,441 41,898,754
Interest receivable 294,240 489,841
Accounts receivable 318,744 271,029
Income tax receivable 506,866 0
Current portion of prepaid research and development 253,446 1,015,194
Prepaid expenses and other current assets 172,001 154,608
Total current assets 42,748,052 49,615,774
Non-current assets:    
Long-term investment securities 0 922,648
Long-term income tax receivable 500,616 0
Non-current portion of prepaid research and development 0 152,245
Other assets 52,139 53,492
Total assets 43,300,807 50,744,159
Current liabilities:    
Accounts payable 309,060 520,261
Accrued expenses 399,576 147,959
Deferred research and development obligations 141,002 0
Income taxes payable 0 100,675
Total current liabilities 849,638 768,895
Commitments and contingencies (See Note 5)
Stockholders' equity:    
Preferred stock 0 0
Common stock 38,967 38,937
Additional paid-in capital 94,385,230 93,913,557
Treasury stock, shares held at cost (18,929,915) (16,625,873)
Accumulated deficit (33,043,113) (27,351,357)
Total stockholders’ equity 42,451,169 49,975,264
Total liabilities and stockholders’ equity $ 43,300,807 $ 50,744,159