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Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues        
Royalty revenue $ 0 $ 14,041,006 $ 4,519,505 $ 27,688,713
Grant and contract revenue 173,874 2,298,055 4,018,653 6,296,542
Total revenue 173,874 16,339,061 8,538,158 33,985,255
Operating expenses        
General and administrative 3,073,114 3,378,707 11,415,746 8,758,601
Research and development 4,133,982 4,881,398 20,873,449 12,119,088
Sales and marketing 2,596,562 1,059,649 8,088,860 3,080,211
Royalty expense 0 3,058,865 943,269 6,145,057
Total operating expenses 9,803,658 12,378,619 41,321,324 30,102,957
Income (loss) from operations (9,629,784) 3,960,442 (32,783,166) 3,882,298
Other income (expense)        
Interest income 160,114 3,498 227,830 10,334
Interest expense (390,850) (547,296) (1,213,021) (1,626,273)
Loss on sale of assets (49,437) 0 (49,437) 0
Gain (loss) on foreign exchange 1,868 455 17,818 (9,899)
Total other income (expense) (278,305) (543,343) (1,016,810) (1,625,838)
Income (loss) before income taxes (9,908,089) 3,417,099 (33,799,976) 2,256,460
Income tax (expense) (8,550) 0 (41,039) 0
Net income (loss) (9,916,639) 3,417,099 (33,841,015) 2,256,460
Other comprehensive loss:        
Foreign currency translation adjustment (4,979) (7,974) (193,314) 81
Comprehensive income (loss) $ (9,921,618) $ 3,409,125 $ (34,034,329) $ 2,256,541
Net income (loss) per share of common stock:        
Basic (in dollars per share) $ (1.93) $ 0.77 $ (6.66) $ 0.52
Diluted (in dollars per share) $ (1.93) $ 0.56 $ (6.66) $ 0.41
Weighted average shares outstanding used to compute net income (loss) per share:        
Basic (in shares) 5,138,274 4,462,236 5,083,222 4,359,759
Diluted (in shares) 5,138,274 6,065,044 5,083,222 5,565,065