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Nature of Operations and Basis of Presentation (Tables)
6 Months Ended
Jun. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]  
Schedule of Effect of Error Correction on Previously Issued Financial Statements

The Company also adjusted for other immaterial corrections for the three and six months ended June 30, 2021. The following table presents the effect of the error correction on the Company’s unaudited condensed interim balance sheet as of June 30, 2021, unaudited condensed interim statement of operations for the three and six months ended June 30, 2021, and unaudited condensed interim statement of cash flows for the six months ended June 30, 2021.

 

 

Three Months Ended June 30, 2021

 

 

Six Months Ended June 30, 2021

 

 

 

As Previously Reported

 

 

Correction of Error

 

 

As Restated

 

 

As Previously Reported

 

 

Correction of Error

 

 

As Restated

 

Changes in the balance sheet:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred collaboration funding, short-term

 

$

19,251,394

 

 

$

2,939,898

 

 

$

22,191,292

 

 

 

 

 

 

 

 

 

 

 

 

 

Total current liabilities

 

 

32,207,156

 

 

$

2,939,898

 

 

 

35,147,054

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 

 

32,207,156

 

 

$

2,939,898

 

 

 

35,147,054

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated deficit

 

 

(103,876,405

)

 

$

(2,939,898

)

 

 

(106,816,303

)

 

 

 

 

 

 

 

 

 

 

 

 

Total stockholders' equity

 

 

7,777,036

 

 

$

(2,939,898

)

 

 

4,837,138

 

 

 

 

 

 

 

 

 

 

 

 

 

Changes in the statement of operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

 

 

 

 

 

 

 

 

 

$

3,998,133

 

 

$

(3,098,133

)

 

$

900,000

 

Research and development

 

 

1,460,975

 

 

 

(99,688

)

 

 

1,361,287

 

 

 

3,466,880

 

 

 

(99,688

)

 

 

3,367,192

 

General and administrative

 

 

2,327,055

 

 

 

(58,547

)

 

 

2,268,508

 

 

 

5,841,196

 

 

 

(58,547

)

 

 

5,782,649

 

Total operating expenses

 

 

3,788,030

 

 

 

(158,235

)

 

 

3,629,795

 

 

 

9,308,076

 

 

 

(158,235

)

 

 

9,149,841

 

Loss from operations

 

 

(3,788,030

)

 

 

158,235

 

 

 

(3,629,795

)

 

 

(5,309,943

)

 

 

(2,939,898

)

 

 

(8,249,841

)

Net loss

 

 

(3,227,272

)

 

 

158,235

 

 

 

(3,069,037

)

 

 

(4,740,444

)

 

 

(2,939,898

)

 

 

(7,680,342

)

Net loss per share - basic and diluted

 

 

(0.23

)

 

 

0.02

 

 

 

(0.21

)

 

 

(0.33

)

 

 

(0.21

)

 

 

(0.54

)

Research and development collaboration funding offset

 

 

926,247

 

 

 

99,688

 

 

 

1,025,935

 

 

 

1,212,350

 

 

 

99,688

 

 

 

1,312,038

 

General and administrative collaboration funding offset

 

 

543,987

 

 

 

58,547

 

 

 

602,534

 

 

 

543,987

 

 

 

58,547

 

 

 

602,534

 

Changes in the statement of cash flows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(4,740,444

)

 

 

(2,939,898

)

 

 

(7,680,342

)

Deferred collaboration funding, short-term

 

 

 

 

 

 

 

 

 

 

 

 

 

 

15,251,394

 

 

 

2,939,898

 

 

 

18,191,292