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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 22,653,760 $ 6,875,273
Investment in debt securities - available for sale, at fair value 2,791,868 7,985,886
Accrued interest receivable on investment securities 7,866 21,369
Advances and deposits on clinical programs and other current assets 1,342,566 1,352,670
Total current assets 26,796,060 16,235,198
Property and equipment (at cost, less accumulated depreciation of $3,174,681 and $3,096,681, respectively) 339,200 405,363
Other assets:    
Deferred tax asset 1,819,324
In-process research and development, net 15,736,491 15,736,491
Goodwill 1,976,101 1,976,101
Operating lease right-of-use assets, net 1,244,308 1,431,640
Other intangible assets, net 227,318 340,976
Deposits and other assets 403,482 333,274
Total other assets 19,587,700 21,637,806
Total assets 46,722,960 38,278,367
Current liabilities:    
Accounts payable - trade 2,402,142 2,862,949
Other accrued liabilities 1,507,683 2,303,547
Notes payable - current portion, net of deferred financing costs 4,385,915 1,840,228
Operating lease liability - current portion 410,005 387,733
Deferred revenue - current portion 500,000 500,000
Total current liabilities 9,205,745 7,894,457
Earn-out milestone liability 6,015,279 5,717,709
Note payable, net of deferred financing costs 5,610,555 7,963,449
Operating lease liability - non-current portion 933,219 1,143,717
Deferred revenue - non-current portion 750,000 1,000,000
Total liabilities 22,514,798 23,719,332
Commitments and contingencies
Stockholders' equity:    
Preferred stock - $0.01 par value (100,000 shares authorized, and no shares issued or outstanding at June 30, 2020 and December 31, 2019)
Common stock - $0.01 par value (112,500,000 shares authorized; 33,229,714 and 23,256,152 shares issued at June 30, 2020 and December 31, 2019, respectively, and 33,229,380 and 23,255,818 shares outstanding at June 30, 2020 and December 31, 2019, respectively) 332,297 232,562
Additional paid-in capital 324,869,780 304,885,663
Accumulated other comprehensive gain 7,866 42,778
Accumulated deficit (300,916,593) (290,516,780)
Total stockholders' equity before treasury stock 24,293,350 14,644,223
Treasury stock, at cost (334 shares at June 30, 2020 and December 31, 2019) (85,188) (85,188)
Total stockholders' equity 24,208,162 14,559,035
Total liabilities and stockholders' equity $ 46,722,960 $ 38,278,367