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Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 5,872,767 $ 5,838,566
Investment in debt securities - available for sale, at fair value 9,857,087
Advances and deposits on clinical programs and other current assets 2,136,192 2,545,051
Total current assets 8,008,959 18,240,704
Property and equipment (at cost, less accumulated depreciation and amortization) 541,272 751,906
Other assets:    
Deferred income tax asset 1,280,385
Operating lease right-of-use assets, net 1,117,133 1,595,074
Deposits and other assets 50,000 50,000
Total other assets 1,167,133 2,925,459
Total assets 9,717,364 21,918,069
Current liabilities:    
Accounts payable – trade 1,300,026 3,515,192
Other accrued liabilities 3,033,747 3,390,521
Operating lease liabilities - current portion 452,358 485,421
Total current liabilities 4,786,131 7,391,134
Operating lease liabilities - non-current portion 686,935 1,139,293
Total liabilities 5,473,066 8,530,427
Commitments and contingencies
Stockholders’ equity:    
Preferred Stock - $0.01 par value (100,000 shares authorized, and no shares issued or outstanding at December 31, 2024 and 2023)
Common stock - $0.01 par value (112,500,000 shares authorized; 14,500,707 and 9,399,811 shares issued at December 31, 2024 and 2023, respectively, and 14,500,685 and 9,399,789 shares outstanding at December 31, 2024 and 2023, respectively) 145,007 93,998
Additional paid-in capital 410,987,523 401,500,838
Accumulated other comprehensive income 60,796
Accumulated deficit (406,803,044) (388,182,802)
Total stockholders’ equity before treasury stock 4,329,486 13,472,830
Treasury stock, at cost (22 shares at December 31, 2024 and 2023) (85,188) (85,188)
Total stockholders’ equity 4,244,298 13,387,642
Total liabilities and stockholders’ equity $ 9,717,364 $ 21,918,069