CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities
Net loss	$ (5,691,756)	$ (2,135,819)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	467,203	643,430
Amortization of premium on held-to-maturity securities, net	676,644	1,107,377
Provision for contract losses	0	(216,324)
Foreign currency exchange loss (gain), net	20,778	(249,059)
Changes in operating assets and liabilities:
Interest receivable	195,601	3,313
Accounts receivable	(59,984)	333,020
Income tax receivable	(1,007,482)	0
Prepaid research and development	913,013	(1,167,439)
Prepaid expenses and other current assets	(17,395)	97,726
Other assets	0	(47,452)
Accounts payable	(195,755)	207,434
Accrued expenses	251,617	(242,200)
Deferred research and development obligation	141,002	(122,222)
Income taxes payable	(100,675)	97,041
Net cash used in operating activities	(4,407,189)	(1,691,174)
Cash flows from investing activities
Purchases of held-to-maturity investment securities	(49,734,681)	(51,463,084)
Proceeds from maturities of investment securities	53,063,000	50,651,000
Net cash provided by (used in) investing activities	3,328,319	(812,084)
Cash flows from financing activities
Repurchases of common stock	(2,304,042)	(6,223,967)
Proceeds from exercise of options	4,500	1,437
Net cash used in financing activities	(2,299,542)	(6,222,530)
Effect of exchange rate changes on cash	(21,622)	257,920
Net decrease in cash, cash equivalents and restricted cash	(3,400,034)	(8,467,868)
Cash, cash equivalents and restricted cash at beginning of period	5,786,348	14,254,216
Cash, cash equivalents and restricted cash at end of period	2,386,314	5,786,348
Supplemental cash flow information
Cash received from income tax refund	$ 0	$ (163,735)

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