Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current Assets:    
Cash and Cash Equivalents $ 5,682,374 $ 8,394,133
License Fee Receivable 37,350 907,500
Prepaid Expenses and Other Current Assets 527,016 122,395
Refundable Tax Credit Receivable 16,009 25,086
Total Current Assets 6,262,749 9,449,114
Non-Current Assets:    
Property and Equipment, Net 42,576 0
Restricted Cash 45,000 20,000
In-Process Research and Development 4,212,314 0
Other Assets 53,951 38,587
Total Non-Current Assets 4,353,841 58,587
Total Assets 10,616,590 9,507,701
Current Liabilities:    
Accounts Payable 1,403,390 417,697
Accrued Expenses 1,339,505 1,095,738
Deferred Revenue 3,418,324 1,907,500
Total Current Liabilities 6,161,219 3,420,935
Non-Current Liabilities:    
Contingent Consideration 1,210,000 0
Total Liabilities 7,371,219 3,420,935
Stockholders’ Equity:    
Common Stock, $0.01 par value: 100,000,000 shares authorized; 9,585,883 shares issued and outstanding at September 30, 2016, and 7,657,287 shares issued and outstanding at December 31, 2015 95,859 76,573
Preferred Stock, $0.01 par value, 10,000,000 shares authorized, 3,750 designated Series A, 1,226.25 shares issued and outstanding at September 30, 2016, and 0 shares issued and outstanding at December 31, 2015 12 0
Additional Paid-In Capital 77,991,557 71,209,530
Accumulated Deficit (74,897,677) (65,255,301)
Stockholder Note Receivable (58,824) (58,824)
Accumulated Other Comprehensive Income 114,444 114,788
Total Stockholders’ Equity 3,245,371 6,086,766
Total Liabilities and Stockholders’ Equity $ 10,616,590 $ 9,507,701