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Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues        
Royalty and licensing revenue $ 8,600,811 $ 20,493,679 $ 19,056,999 $ 30,368,530
Treatment investment revenue 0 0 0 643,956
Grant and contract revenue 505,265 147,071 644,195 1,837,673
Total revenue 9,106,076 20,640,750 19,701,194 32,850,159
Operating expenses        
General and administrative 2,729,098 3,211,022 8,138,571 9,389,630
Research and development 2,783,452 1,843,207 4,762,749 7,043,857
Sales and marketing 914,349 140,690 3,737,793 140,690
Royalty expense 1,951,947 4,850,807 4,288,701 6,098,882
Total operating expenses 8,378,846 10,045,726 20,927,814 22,673,059
Income (loss) from operations 727,230 10,595,024 (1,226,620) 10,177,100
Other income (expense)        
Interest income 3,922 112,388 92,015 356,657
Loss on foreign exchange (6,178) (24,313) (2,269) (65,310)
Total other income (expense) (2,256) 88,075 89,746 291,347
Income (loss) before income taxes 724,974 10,683,099 (1,136,874) 10,468,447
Income tax (expense) benefit 0 0 (39,000) 56,805
Net income (loss) 724,974 10,683,099 (1,175,874) 10,525,252
Other comprehensive loss:        
Foreign currency translation adjustment 196,076 0 (114,644) 0
Total other comprehensive gain (loss) 196,076 0 (114,644) $ 0
Comprehensive income (loss) $ 921,050 $ 10,683,099 $ (1,290,518)  
Net income (loss) per share of common stock:        
Basic (in dollars per share) $ 0.17 $ 2.64 $ (0.28) $ 2.64
Diluted (in dollars per share) $ 0.15 $ 1.97 $ (0.28) $ 1.98
Weighted average shares outstanding used to compute net income (loss) per share:        
Basic (in shares) 4,258,105 4,048,635 4,247,045 3,985,112
Diluted (in shares) 4,847,211 5,422,345 4,247,045 5,310,157