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CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 4,662,327 $ 2,386,314
Short-term investment securities 30,793,472 38,816,441
Interest receivable 235,440 294,240
Accounts receivable 418,945 318,744
Income tax receivable 9,406 506,866
Prepaid research and development 0 253,446
Prepaid expenses and other current assets 336,868 172,001
Total current assets 36,456,458 42,748,052
Non-current assets:    
Long-term investment securities 1,514,153 0
Long-term income tax receivable 500,616 500,616
Other assets 50,232 52,139
Total assets 38,521,459 43,300,807
Current liabilities:    
Accounts payable 713,395 309,060
Accrued expenses 470,117 399,576
Deferred research and development obligations 93,276 141,002
Total current liabilities 1,276,788 849,638
Commitments and contingencies (See Note 4)
Stockholders’ equity:    
Preferred stock 0 0
Common stock 39,467 38,967
Additional paid-in capital 95,747,666 94,385,230
Treasury stock, shares held at cost (18,929,915) (18,929,915)
Accumulated deficit (39,612,547) (33,043,113)
Total stockholders’ equity 37,244,671 42,451,169
Total liabilities and stockholders’ equity $ 38,521,459 $ 43,300,807