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Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 18,676,663 $ 5,420,708
Contracts and grants receivable 203,774 1,018,835
Research and development incentives receivable 361,096 444,043
Prepaid expenses and other current assets 225,473 609,739
Total current assets 19,467,006 7,493,325
Security deposit 22,777 22,757
Office furniture and equipment, net of accumulated depreciation of $158,769 and $135,038, respectively 23,510 36,093
Deferred issuance cost 53,523 39,324
Intangible assets, net   19,699
Right-of-use lease assets 228,027 125,412
Research and development incentives receivable 73,142  
Other assets 23,250 38,750
Total assets 19,891,235 7,775,360
Current liabilities:    
Accounts payable 2,129,844 2,735,442
Accrued expenses 2,638,308 3,157,386
Accrued compensation 875,096 298,173
Paycheck protection program loan 324,979  
Lease liabilities - current 112,294 121,075
Total current liabilities 6,080,521 6,312,076
Non-current liabilities:    
Convertible debt, net 9,859,739  
Paycheck protection program loan 92,851  
Lease liabilities, net of current 116,296 6,149
Total liabilities 16,149,407 6,318,225
Commitments and contingencies
Shareholders’ equity:    
Preferred stock: 350,000 shares authorized; none issued or outstanding
Common stock, $.001 par value; 75,000,000 and 50,000,000 shares authorized; 30,643,656 and 21,753,124 shares issued and outstanding at December 31, 2020 and 2019, respectively 30,644 21,753
Additional paid-in capital 196,949,655 177,006,004
Accumulated other comprehensive loss (24,337) (45,010)
Accumulated deficit (193,214,134) (175,525,612)
Total shareholders’ equity 3,741,828 1,457,135
Total liabilities and shareholders’ equity $ 19,891,235 $ 7,775,360