Consolidated Balance Sheets - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 11,492,841	$ 19,586,272
Investment in debt securities - available for sale, at fair value	21,254,485	29,803,095
Accrued interest receivable on investment securities	128,932	108,844
Money market investments, restricted cash	1,500,000
Advances and deposits on clinical programs and other current assets	2,778,433	2,447,413
Total current assets	37,154,691	51,945,624
Property and equipment (at cost, less accumulated depreciation and amortization)	548,301	477,011
Other assets:
Money market investments, restricted cash	4,500,000	6,000,000
Deferred income tax asset	1,567,026	1,383,446
In-process research and development, net		13,366,234
Operating lease right-of-use assets, net	155,876	690,995
Deposits and other assets	50,000	183,489
Total other assets	6,272,902	21,624,164
Total assets	43,975,894	74,046,799
Current liabilities:
Accounts payable – trade	3,586,623	2,547,251
Other accrued liabilities	4,794,936	3,173,537
Notes payable – current portion, net of deferred financing costs	1,424,774
Operating lease liability - current portion	230,749	548,870
Deferred revenue - current portion		500,000
Total current liabilities	10,037,082	6,769,658
Earn-out milestone liability		5,396,000
Notes payable – non-current portion, net of deferred financing costs	4,610,946	5,854,461
Operating lease liability - non-current portion		230,749
Total liabilities	14,648,028	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 December 31, 2022 and 2021)
Common stock - $0.01 par value (112,500,000 shares authorized; 7,436,219 and 5,770,538 shares issued at December 31, 2022 and 2021, respectively, and 7,436,197 and 5,770,516 shares outstanding at December 31, 2022 and 2021, respectively)	74,362	57,705
Additional paid-in capital	397,980,023	388,600,979
Accumulated other comprehensive income (loss)	26,494	(7,974)
Accumulated deficit	(368,667,825)	(332,769,591)
Total stockholders’ equity before treasury stock	29,413,054	55,881,119
Treasury stock, at cost (22 shares at December 31, 2022 and 2021)	(85,188)	(85,188)
Total stockholders’ equity	29,327,866	55,795,931
Total liabilities and stockholders’ equity	$ 43,975,894	$ 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).