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Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current Assets:    
Cash and cash equivalents $ 8,068,939 $ 5,663,833
Accounts receivable, net 23,311
Prepaid expenses 921,762 581,706
Inventory 236,480
Other current assets 30,300
Total current assets 9,280,792 6,245,539
Operating lease right-of-use asset 141,705 138,538
Other assets 11,551 11,551
Total assets 9,434,048 6,395,628
Current Liabilities:    
Accounts payable and accrued expenses 1,273,572 1,033,383
Accrued compensation 1,016,232 843,162
Operating lease liability 141,705 138,538
Paycheck protection program loan 104,168
Milestone payable 5,000,000
Total current liabilities 7,535,677 2,015,083
Long-term Liabilities:    
Note payable 5,000,000
Accrued interest payable 112,994
Total long-term liabilities 5,112,994
Total liabilities 12,648,671 2,015,083
Commitments and contingencies (Note 3)
Stockholders' (deficit) equity:    
Preferred stock, $0.0001 par value; authorized shares — 5,000,000 at December 31, 2020 and 2019; issued and outstanding shares — 0 at December 31, 2020 and 2019
Common stock, $0.0001 par value; authorized shares — 50,000,000 at December 31, 2020 and 2019; issued and outstanding shares — 26,621,954 and 24,431,914 at December 31, 2020 and 2019, respectively 2,662 2,443
Additional paid-in capital 95,667,776 90,108,492
Accumulated deficit (98,885,061) (85,730,390)
Total stockholders' (deficit) equity (3,214,623) 4,380,545
Total liabilities and stockholders' (deficit) equity $ 9,434,048 $ 6,395,628