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Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues        
Royalty revenue $ 9,314,207 $ 6,257,688 $ 13,647,707 $ 10,456,188
Grant and contract revenue 1,945,103 54,843 3,998,487 138,929
Total revenue 11,259,310 6,312,531 17,646,194 10,595,117
Operating expenses        
General and administrative 2,733,565 2,836,162 5,379,894 5,409,473
Research and development 3,149,503 558,311 7,237,690 1,979,296
Sales and marketing 1,022,988 1,746,917 2,020,562 2,823,444
Royalty expense 2,106,726 1,402,749 3,086,192 2,336,754
Total operating expenses 9,012,782 6,544,139 17,724,338 12,548,967
Income (loss) from operations 2,246,528 (231,608) (78,144) (1,953,850)
Other income (expense)        
Interest income 3,637 11,494 6,836 88,093
Interest expense (542,091) 0 (1,078,977) 0
(Loss) gain on foreign exchange (24,483) 3,909 (10,354) 3,909
Total other income (expense) (562,937) 15,403 (1,082,495) 92,002
Income (loss) before income taxes 1,683,591 (216,205) (1,160,639) (1,861,848)
Income tax (expense) 0 0 0 (39,000)
Net income (loss) 1,683,591 (216,205) (1,160,639) (1,900,848)
Other comprehensive loss:        
Foreign currency translation adjustment (4,446) (17,229) 8,055 (310,720)
Comprehensive income (loss) $ 1,679,145 $ (233,434) $ (1,152,584) $ (2,211,568)
Net income (loss) per share of common stock:        
Basic (in dollars per share) $ 0.39 $ (0.05) $ (0.27) $ (0.45)
Diluted (in dollars per share) $ 0.31 $ (0.05) $ (0.27) $ (0.45)
Weighted average shares outstanding used to compute net loss per share:        
Basic (in shares) 4,332,601 4,258,105 4,308,027 4,241,423
Diluted (in shares) 5,427,831 4,258,105 4,308,027 4,241,423