Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 26,938,090	$ 19,586,272
Investment in debt securities - available for sale, at fair value	10,414,395	29,803,095
Accrued interest receivable on investment securities	30,495	108,844
Advances and deposits on clinical programs and other current assets	2,810,787	2,447,413
Total current assets	40,193,767	51,945,624
Property and equipment (at cost, less accumulated depreciation and amortization)	582,531	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	294,814	690,995
Deposits and other assets	93,761	183,489
Total other assets	19,754,809	21,624,164
Total assets	60,531,107	74,046,799
Current liabilities:
Accounts payable – trade	3,369,913	2,547,251
Other accrued liabilities	3,925,561	3,173,537
Operating lease liability - current portion	373,525	548,870
Note payable – current portion, net of deferred financing costs	670,513
Deferred revenue - current portion	125,000	500,000
Total current liabilities	8,464,512	6,769,658
Earn-out milestone liability	5,396,000	5,396,000
Notes payable – non-current portion, net of deferred financing costs	5,319,520	5,854,461
Operating lease liability - non-current portion		230,749
Total liabilities	19,180,032	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 September 30, 2022 and December 31, 2021)
Common stock - $0.01 par value (112,500,000 shares authorized; 7,098,763 and 5,770,538 shares issued at September 30, 2022 and December 31, 2021, respectively; and 7,098,741 and 5,770,516 shares outstanding at September 30, 2022 and December 31, 2021, respectively)	70,988	57,705
Additional paid-in capital	396,825,849	388,600,979
Accumulated other comprehensive loss	(25,424)	(7,974)
Accumulated deficit	(355,435,150)	(332,769,591)
Total stockholders’ equity before treasury stock	41,436,263	55,881,119
Treasury stock, at cost (22 shares at September 30, 2022 and December 31, 2021)	(85,188)	(85,188)
Total stockholders’ equity	41,351,075	55,795,931
Total liabilities and stockholders’ equity	$ 60,531,107	$ 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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- 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).