Summarized Quarterly Data (Unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Summarized Quarterly Data (Unaudited)

11. Summarized Quarterly Data (Unaudited)

The following financial information reflects all adjustments, which include only normal recurring adjustments, which are, in the opinion of management, necessary for a fair statement of the financial results of the interim periods. Summarized quarterly data for the years ended December 31, 2019 and 2018 are as follows:

	For the Quarters Ended
	March 31,			June 30,			September 30,			December 31,
2019
Research and development expense	$	746,882		$	1,205,599		$	822,444		$	641,541
General and administrative expense	$	1,223,013		$	918,139		$	814,218		$	782,617
Net loss	$	(1,965,266	)	$	(2,114,096	)	$	(1,628,065	)	$	(1,418,228	)
Net loss per common share, basic and diluted (1)	$	(0.11	)	$	(0.09	)	$	(0.07	)	$	(0.06	)
Weighted average shares outstanding, basic    and diluted		17,484,318			23,258,567			24,128,060			24,313,411
2018
Research and development expense	$	1,385,366		$	1,388,791		$	625,497		$	695,360
General and administrative expense	$	1,032,245		$	917,305		$	897,060		$	1,073,061
Gain from change in fair value of warrant liability	$	433,392		—			—			—
Net loss	$	(1,982,786	)	$	(2,303,193	)	$	(1,519,468	)	$	(1,760,633	)
Net loss per common share, basic and diluted (1)	$	(0.13	)	$	(0.14	)	$	(0.09	)	$	(0.10	)
Weighted average shares outstanding, basic    and diluted		15,427,037			16,425,468			17,129,649			17,427,533

(1) Net loss per share is computed independently for each of the quarters presented.  Therefore, the sum of the quarterly per-share calculations will not necessarily equal the annual per share calculation.