Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 7,214,781 $ 8,394,133
License fee receivable 337,500 907,500
Prepaid expenses and other current assets 748,910 122,395
Current portion of refundable tax credit receivable 26,231 25,086
Total current assets 8,327,422 9,449,114
Property and equipment, net 565 0
Restricted cash 30,000 20,000
In-process R&D 3,912,314 0
Other assets 46,571 38,587
Total assets 12,316,872 9,507,701
Current liabilities:    
Accounts payable 869,341 417,697
Accrued expenses 910,665 1,095,738
Deferred revenue 2,659,970 1,907,500
Contingent consideration 1,210,000 0
Total current liabilities 5,649,976 3,420,935
Stockholders’ equity:    
Common stock, $0.01 par value: 100,000,000 shares authorized; 8,346,444 shares issued and outstanding at March 31, 2016 and 7,657,287 shares issued and outstanding at December 31, 2015 83,464 76,573
Additional paid-in capital 73,934,229 71,209,530
Accumulated deficit (67,697,734) (65,255,301)
Common stock issuable 291,536 0
Stockholder note receivable (58,824) (58,824)
Accumulated other comprehensive income 114,225 114,788
Total stockholders’ equity 6,666,896 6,086,766
Total liabilities and stockholders’ equity $ 12,316,872 $ 9,507,701