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PREPAID EXPENSES AND OTHER CURRENT ASSETS
12 Months Ended
Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
PREPAID EXPENSES AND OTHER CURRENT ASSETS PREPAID EXPENSES AND OTHER CURRENT ASSETS
Prepaid expenses and other current assets at December 31, 2019 and December 31, 2018 consisted of the following:
 December 31, 2019December 31, 2018
Prepaid clinical trial expenses$202,743  $210,333  
Prepaid insurance617,096  16,484  
Other prepaid and current assets136,060  22,269  
Total prepaid expenses and other current assets$955,899  $249,086  
Prepaid insurance is comprised of prepaid directors' and officers' insurance. In July 2019, the Company financed their directors' and officers' insurance premium with a short term note, the principal amount of which is approximately $0.9 million, bearing interest at a rate of of 4.61%. The note payable balance was $502,332 as of December 31, 2019 and is included within Current Liabilities on the Consolidated Balance Sheet.