XML 16 R2.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Balance Sheets - USD ($)
Sep. 30, 2021
Dec. 31, 2020
Current Assets:    
Unrestricted cash and cash equivalents $ 13,500,871 $ 28,371,828
Restricted cash 7,875,000  
Deferred license costs   1,600,000
License fee and expense reimbursements receivables 960,180 2,966,039
Prepaid expenses and other current assets 1,123,289 453,478
Total Current Assets 23,459,340 33,391,345
Property and equipment, net 1,413,201 396,380
Security deposit 119,035 119,035
Total Assets 24,991,576 33,906,760
Current Liabilities:    
Accounts payable 1,684,733 1,461,665
Accrued compensation 1,184,236 1,150,672
Accrued expenses and other current liabilities 552,336 1,480,692
Deferred rent - current portion 16,037 7,809
Deferred license fee 10,000,000 14,000,000
Notes payable - current portion 7,282,037 97,539
Total Current Liabilities 20,719,379 18,198,377
Deferred rent - non-current portion 26,059 38,684
Notes payable - non-current portion 0 365,814
Total Liabilities 20,745,438 18,602,875
Commitments and contingencies (Note 7)
Stockholders' Equity:    
Preferred stock, $0.0001 par value, 6,000,000 shares authorized; 0 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively 0 0
Common stock, $0.0001 par value, 90,000,000 shares authorized; 25,963,185 and 24,978,585 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively 2,597 2,498
Additional paid-in capital 97,446,125 92,742,306
Accumulated deficit (93,202,584) (77,440,919)
Total Stockholders' Equity 4,246,138 15,303,885
Total Liabilities and Stockholders' Equity $ 24,991,576 $ 33,906,760