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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 6,611,357 $ 11,492,841
Investment in debt securities - available for sale, at fair value 17,400,025 21,254,485
Accrued interest receivable on investment securities 80,489 128,932
Money market investments, restricted cash 1,500,000
Advances and deposits on clinical programs and other current assets 2,640,081 2,778,433
Total current assets 26,731,952 37,154,691
Property and equipment (at cost, less accumulated depreciation and amortization) 651,231 548,301
Other assets:    
Money market investments, restricted cash 4,500,000
Deferred income tax asset 1,567,026
Operating lease right-of-use assets, net 1,288,511 155,876
Deposits and other assets 50,000 50,000
Total other assets 1,338,511 6,272,902
Total assets 28,721,694 43,975,894
Current liabilities:    
Accounts payable – trade 2,612,440 3,586,623
Other accrued liabilities 3,233,193 4,794,936
Note payable – current portion, net of deferred financing costs 1,424,774
Operating lease liabilities - current portion 278,409 230,749
Total current liabilities 6,124,042 10,037,082
Notes payable – non-current portion, net of deferred financing costs 4,610,946
Operating lease liabilities - non-current portion 1,082,512
Total liabilities 7,206,554 14,648,028
Commitments and contingencies
Stockholders’ equity:    
Preferred stock - $0.01 par value (100,000 shares authorized, and no shares issued or outstanding at June 30, 2023 and December 31, 2022)
Common stock - $0.01 par value (112,500,000 shares authorized; 9,252,003 and 7,436,219 shares issued at June 30, 2023 and December 31, 2022, respectively; 9,251,981 and 7,436,197 shares outstanding at June 30, 2023 and December 31, 2022, respectively) 92,520 74,362
Additional paid-in capital 401,163,818 397,980,023
Accumulated other comprehensive loss 162,045 26,494
Accumulated deficit (379,818,055) (368,667,825)
Total stockholders’ equity before treasury stock 21,600,328 29,413,054
Treasury stock, at cost (22 shares at June 30, 2023 and December 31, 2022) (85,188) (85,188)
Total stockholders’ equity 21,515,140 29,327,866
Total liabilities and stockholders’ equity $ 28,721,694 $ 43,975,894