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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 30,036,149 $ 21,412,623
Marketable securities 7,478,185 24,441,520
Restricted cash 100,000 100,000
Prepaid expenses and other current assets 851,864 1,182,483
Total current assets 38,466,198 47,136,626
Equipment, net 11,644 16,011
Other noncurrent assets 14,808 14,808
Operating lease right-of-use assets 223,503 261,952
In-process research and development 15,200,000 15,200,000
Goodwill 14,869,399 14,869,399
Total assets 68,785,552 77,498,796
Current liabilities    
Accounts payable 3,003,054 2,317,004
Accrued expenses and other current liabilities 3,936,233 4,139,163
Operating leases 178,765 172,901
Total current liabilities 7,118,052 6,629,068
Deferred taxes 1,803,356 1,803,356
Deferred revenue 41,175,600 41,175,600
Noncurrent operating leases 64,350 111,229
Total liabilities 50,161,358 49,719,253
Commitments and contingencies (Note 8)
Stockholders’ equity    
Preferred stock; $0.0001 par value; 100,000,000 shares authorized; none issued or outstanding as of March 31, 2020 and December 31, 2019, respectively
Common stock; $0.0001 par value; 125,000,000 shares authorized; 39,219,134 and 39,084,121 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively 3,922 3,908
Additional paid-in capital 317,507,655 314,511,853
Accumulated deficit (298,887,383) (286,736,218)
Total stockholders’ equity 18,624,194 27,779,543
Total liabilities and stockholders’ equity $ 68,785,552 $ 77,498,796