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Consolidated Balance Sheets - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 11,342,794 $ 5,420,708
Contracts and grants receivable 394,402 1,018,835
Research and development incentives receivable 312,378 444,043
Prepaid expenses and other current assets 680,088 609,739
Total current assets 12,729,662 7,493,325
Security deposit 22,757 22,757
Office furniture and equipment, net 27,511 36,093
Deferred issuance cost 57,884 39,324
Intangible assets, net   19,699
Right-of-use lease assets 259,837 125,412
Research and development incentives receivable 125,303  
Other assets 27,124 38,750
Total assets 13,250,078 7,775,360
Current liabilities:    
Accounts payable 2,444,919 2,735,442
Accrued expenses 2,647,224 3,157,386
Accrued compensation 74,028 298,173
Paycheck Protection Program loan 255,341  
Lease liabilities - current 114,392 121,075
Total current liabilities 5,535,904 6,312,076
Non-current liabilities:    
Paycheck Protection Program loan, net of current 162,489  
Lease liabilities, net of current 146,214 6,149
Total liabilities 5,844,607 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; 29,847,288 shares and 21,753,124 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively 29,847 21,753
Additional paid-in capital 195,058,736 177,006,004
Accumulated other comprehensive loss (9,243) (45,010)
Accumulated deficit (187,673,869) (175,525,612)
Total shareholders’ equity 7,405,471 1,457,135
Total liabilities and shareholders’ equity $ 13,250,078 $ 7,775,360