Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 28,362,139	$ 19,586,272
Investment in debt securities - available for sale, at fair value	12,943,814	29,803,095
Accrued interest receivable on investment securities	15,646	108,844
Advances and deposits on clinical programs and other current assets	2,544,885	2,447,413
Total current assets	43,866,484	51,945,624
Property and equipment (at cost, less accumulated depreciation and amortization)	487,530	477,011
Other assets:
Money market investments, restricted cash	6,000,000	6,000,000
Deferred income tax asset		1,383,446
In-process research and development, net	13,366,234	13,366,234
Operating lease right-of-use assets, net	562,377	690,995
Deposits and other assets	58,761	183,489
Total other assets	19,987,372	21,624,164
Total assets	64,341,386	74,046,799
Current liabilities:
Accounts payable – trade	3,473,524	2,547,251
Other accrued liabilities	2,283,513	3,173,537
Operating lease liability - current portion	516,545	548,870
Deferred revenue - current portion	375,000	500,000
Total current liabilities	6,648,582	6,769,658
Earn-out milestone liability	5,396,000	5,396,000
Notes payable – non-current portion, net of deferred financing costs	5,899,776	5,854,461
Operating lease liability - non-current portion	131,819	230,749
Total liabilities	18,076,177	18,250,868
Commitments and contingencies
Stockholders’ equity:
Preferred Stock - $0.01 par value (100,000 shares authorized, and no shares issued or outstanding at March 31, 2022 and December 31, 2021)
Common stock - $0.01 par value (112,500,000 shares authorized; 5,770,489 and 5,770,538 shares issued at March 31, 2022 and December 31, 2021, respectively; and 5,770,467 and 5,770,516 shares outstanding at March 31, 2022 and December 31, 2021, respectively)	57,705	57,705
Additional paid-in capital	389,595,593	388,600,979
Accumulated other comprehensive loss	(58,978)	(7,974)
Accumulated deficit	(343,243,923)	(332,769,591)
Total stockholders’ equity before treasury stock	46,350,397	55,881,119
Treasury stock, at cost (22 shares at March 31, 2022 and December 31, 2021)	(85,188)	(85,188)
Total stockholders’ equity	46,265,209	55,795,931
Total liabilities and stockholders’ equity	$ 64,341,386	$ 74,046,799

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Balance Type:	credit
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- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).