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Consolidated Balance Sheets - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 11,168,305 $ 5,420,708
Contracts and grants receivable 334,787 1,018,835
Research and development incentives receivable 299,749 444,043
Prepaid expenses and other current assets 174,482 609,739
Total current assets 11,977,323 7,493,325
Security deposit 22,757 22,757
Office furniture and equipment, net 32,846 36,093
Deferred issuance costs 39,715 39,324
Intangible assets, net 6,117 19,699
Right-of-use lease assets 55,393 125,412
Research and development incentives receivable 95,525  
Other assets 30,998 38,750
Total assets 12,260,674 7,775,360
Current liabilities:    
Accounts payable 2,521,494 2,735,442
Accrued expenses 3,157,532 3,157,386
Accrued compensation 76,660 298,173
Paycheck Protection Program loan 185,702  
Lease liabilities - current 54,455 121,075
Total current liabilities 5,995,843 6,312,076
Non-current liabilities:    
Paycheck Protection Program loan, net of current 232,128  
Lease liabilities, net of current 2,101 6,149
Total liabilities 6,230,072 6,318,225
Commitments and contingencies
Shareholders’ equity:    
Preferred stock, 350,000 shares authorized; none issued or outstanding
Common stock, $.001 par value; 50,000,000 shares authorized; 28,591,432 shares and 21,753,124 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively 28,591 21,753
Additional paid-in capital 191,922,671 177,006,004
Accumulated other comprehensive loss (36,951) (45,010)
Accumulated deficit (185,883,709) (175,525,612)
Total shareholders’ equity 6,030,602 1,457,135
Total liabilities and shareholders’ equity $ 12,260,674 $ 7,775,360