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Condensed Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net loss $ (1,513,172) $ (4,948,707)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Stock-based compensation 559,436 667,338
Depreciation 14,634 17,709
Non-cash interest expense 1,378  
Changes in operating assets and liabilities    
Accounts receivable (10,000,000)  
Prepaid expenses and other current assets (9,827,700) 182,837
Accounts payable (1,243,184) (216,290)
Accrued expenses (1,554,676)  
Deferred collaboration funding 16,715,764  
Other current liabilities 9,852,524 (773,267)
Net cash provided by (used in) operating activities 3,005,004 (5,070,380)
Cash flows from investing activities:    
Purchase of property and equipment (5,322)  
Net cash used in investing activities (5,322)  
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 3,139,047  
Receipt of funds from secured loan 4,000,000  
Net cash provided by financing activities 7,139,047  
Net increase (decrease) in cash and cash equivalents 10,138,729 (5,070,380)
Cash and cash equivalents, beginning of period 5,761,568 12,077,640
Cash and cash equivalents, end of period $ 15,900,297 $ 7,007,260