Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 21,029,806 $ 12,432,481
Marketable securities 28,592,049 46,246,573
Restricted cash 50,000 136,000
Prepaid expenses and other current assets 1,321,466 2,739,791
Total current assets 50,993,321 61,554,845
Non-current assets:    
Leasehold improvements and equipment - net 1,537,728 1,523,950
Operating lease right-of-use assets - net 4,218,890 3,276,639
Finance lease right-of-use assets - net 22,270 58,007
In-process research and development 3,017,377 3,017,377
Goodwill 1,336,488 1,336,488
Restricted cash - security deposits 200,000 200,000
Total non-current assets 10,332,753 9,412,461
Total assets 61,326,074 70,967,306
Current liabilities:    
Accounts payable 938,270 349,941
Accrued expenses and other liabilities 2,850,888 2,795,329
Operating lease liabilities - current 538,546 391,498
Financing lease liabilities - current 21,039 30,853
Total current liabilities 4,348,743 3,567,621
Non-current liabilities:    
Deferred tax liability 341,265 341,265
Operating lease liabilities - net of current portion 4,140,387 3,304,063
Financing lease liabilities - net of current portion 2,621 23,660
Total non-current liabilities 4,484,273 3,668,988
Total liabilities 8,833,016 7,236,609
Stockholders’ equity:    
Series B Convertible preferred stock, stated value $1,000 per share, 8,000 shares authorized as of December 31, 2021 and 2020, respectively; 0 and 4,361 shares issued and outstanding as of December 31, 2021 and 2020, respectively 3,797,705
Common stock par value $0.0001 per share, 500,000,000 shares authorized at December 31, 2021 and 2020, respectively; 216,269,450 and 200,113,431 issued and outstanding as of December 31, 2021 and 2020, respectively 21,627 20,010
Additional paid-in capital 184,251,138 167,192,003
Accumulated deficit (131,634,208) (107,507,193)
Accumulated other comprehensive (loss)/income (145,499) 228,172
Total stockholders’ equity 52,493,058 63,730,697
Total liabilities and stockholders’ equity $ 61,326,074 $ 70,967,306