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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 12,884,199 $ 11,492,841
Investment in debt securities - available for sale, at fair value 6,492,675 21,254,485
Accrued interest receivable on investment securities 97,103 128,932
Money market investments, restricted cash 1,500,000
Advances and deposits on clinical programs and other current assets 2,251,475 2,403,433
Total current assets 21,725,452 36,779,691
Property and equipment (at cost, less accumulated depreciation and amortization) 823,551 548,301
Other assets:    
Money market investments, restricted cash 4,500,000
Deferred income tax asset 1,567,026
Operating lease right-of-use assets, net 1,663,985 155,876
Deposits and other assets 441,440 425,000
Total other assets 2,105,425 6,647,902
Total assets 24,654,428 43,975,894
Current liabilities:    
Accounts payable – trade 1,826,762 3,586,623
Other accrued liabilities 3,019,135 4,794,936
Note payable – current portion, net of deferred financing costs 1,424,774
Operating lease liabilities - current portion 470,613 230,749
Total current liabilities 5,316,510 10,037,082
Notes payable – non-current portion, net of deferred financing costs 4,610,946
Operating lease liabilities - non-current portion 1,266,176
Total liabilities 6,582,686 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 September 30, 2023 and December 31, 2022)
Common stock - $0.01 par value (112,500,000 shares authorized; 9,367,929 and 7,436,219 shares issued at September 30, 2023 and December 31, 2022, respectively; 9,367,907 and 7,436,197 shares outstanding at September 30, 2023 and December 31, 2022, respectively) 93,679 74,362
Additional paid-in capital 401,337,485 397,980,023
Accumulated other comprehensive income 20,435 26,494
Accumulated deficit (383,294,669) (368,667,825)
Total stockholders’ equity before treasury stock 18,156,930 29,413,054
Treasury stock, at cost (22 shares at September 30, 2023 and December 31, 2022) (85,188) (85,188)
Total stockholders’ equity 18,071,742 29,327,866
Total liabilities and stockholders’ equity $ 24,654,428 $ 43,975,894