Financials

v3.21.2
Balance Sheets - USD ($)
Sep. 30, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 24,487,547 $ 3,157,256
Accounts receivable, net 262,527 170,287
Prepayments and other current assets 100,360 118,883
Total current assets 24,850,434 3,446,426
Property and equipment, net 62,720 37,125
Intangible assets, net 2,038,911 1,568,903
Right of use asset 321,248 79,719
Other assets 11,189  
Total assets 27,284,502 5,132,173
Current liabilities:    
Accounts payable 57,355 101,984
Accrued expenses 625,693 475,487
Current portion of lease liability 57,484 82,055
Total current liabilities 740,532 659,526
Long-term debt   91,407
Long-term lease liability 282,847  
Other long-term liabilities 959,408 552,031
Total liabilities 1,982,787 1,302,964
Commitments and contingencies (Note 6)
Stockholders' equity:    
Common stock, $0.001 par value; 50,000,000 shares authorized; 5,873,367 shares issued and 5,872,046 shares outstanding at September 30, 2021 and 3,265,740 shares issued and 3,264,419 shares outstanding at December 31, 2020 5,873 3,266
Additional paid-in capital 103,794,384 78,974,964
Treasury stock, at cost, 1,321 shares at September 30, 2021 and December 31, 2020 (13,210) (13,210)
Accumulated deficit (78,485,332) (75,135,811)
Total stockholders' equity 25,301,715 3,829,209
Total liabilities and stockholders' equity $ 27,284,502 $ 5,132,173

Source

v3.21.2
Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Statements of Operations        
Grant revenue $ 121,028 $ 147,787 $ 447,794 $ 154,302
Cost of grant revenue 121,028 147,787 447,794 154,302
Gross profit     0 0
Operating expenses:        
Research and development 604,476 494,548 1,426,049 1,161,537
General and administrative 500,942 657,967 1,705,146 1,753,615
Sales and marketing 128,248 20,000 302,859 20,000
Total operating expenses 1,233,666 1,172,515 3,434,054 2,935,152
Loss from operations (1,233,666) (1,172,515) (3,434,054) (2,935,152)
Other income (expenses):        
Interest expense, net (5,012) (1,358) (6,874) (2,480)
Warrant inducement expense   (3,720,866) 0 (3,720,866)
Gain on forgiveness of long-term debt     91,407 0
Total other income (expenses) (5,012) (3,722,224) 84,533 (3,723,346)
Net loss $ (1,238,678) $ (4,894,739) $ (3,349,521) $ (6,658,498)
Net loss per share - basic (in dollars per share) $ (0.20) $ (1.28) $ (0.57) $ (2.04)
Net loss per share - diluted (in dollars per share) $ (0.20) $ (1.28) $ (0.57) $ (2.04)
Weighted average number of shares outstanding - basic (in shares) 6,125,874 3,821,717 5,868,122 3,264,860
Weighted average number of shares outstanding - diluted (in shares) 6,125,874 3,821,717 5,868,122 3,264,860

Source

v3.21.2
Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net loss $ (3,349,521) $ (6,658,498)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 113,607 86,368
Write-off of capitalized patents 528 18,235
Stock-based compensation 247,512 434,782
Stock issued for services 68,680 50,000
Warrant inducement expense 0 3,720,866
Gain on forgiveness of long-term debt (91,407) 0
Decrease (increase) in operating assets:    
Accounts receivable (92,240) (28,623)
Prepaid expenses and other assets 105,687 127,632
Increase (decrease) in operating liabilities:    
Accounts payable (44,629) (116,246)
Accrued expenses 49,040 61,845
Net cash used in operating activities (2,992,743) (2,303,639)
Cash flows from investing activities:    
Purchase of property and equipment (43,685) (12,407)
Acquisition of intangible assets (139,116) (35,836)
Net cash used in investing activities (182,801) (48,243)
Cash flows from financing activities:    
Net proceeds from issuance of common stock 21,204,609 0
Exercise of options and warrants 3,301,226 2,972,018
Proceeds from loans 0 91,407
Net cash provided by financing activities 24,505,835 3,063,425
Net increase in cash and cash equivalents 21,330,291 711,543
Cash and cash equivalents at beginning of period 3,157,256 3,057,682
Cash and cash equivalents at end of period $ 24,487,547 $ 3,769,225

Source