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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 12,646,282 $ 46,993,285
Prepaid expenses and other current assets 3,358,917 2,991,948
Restricted cash 17,012,650 0
Total current assets 33,017,849 49,985,233
Property and equipment, net 10,413 16,094
Right-of-use asset 112,302 166,618
Other assets 7,280 5,580
Total assets 33,147,844 50,173,525
Current liabilities:    
Accounts payable 5,053,073 2,434,452
Accrued expenses 4,379,773 5,967,822
Convertible note payable, net 19,616,313 0
Derivative liability 1,585,000 0
Lease liability, current portion 61,746 54,796
Total current liabilities 30,695,905 8,457,070
Lease liability, net of current portion 51,396 113,142
Total liabilities 30,747,301 8,570,212
Commitments and contingencies (Note 11)
Stockholders’ equity:    
Preferred stock $0.0001 par value per share, 10,000,000 shares authorized as of December 31, 2022 and 2021; 0 shares issued and outstanding as of December 31, 2022 and 2021 0 0
Common stock $0.0001 par value per share, 550,000,000 shares authorized as of December 31, 2022 and 2021, 13,036,356 and 12,911,776 shares issued and outstanding as of December 31, 2022 and 2021, respectively 1,304 1,291
Additional paid-in capital [1] 215,006,321 210,442,689
Accumulated deficit (212,607,082) (168,840,667)
Total stockholders’ equity 2,400,543 41,603,313
Total liabilities and stockholders’ equity $ 33,147,844 $ 50,173,525
[1]
1Amounts have been retroactively restated to reflect the 1-for-20 reverse stock split
effected on October 17, 2022 (see Note 1)