v3.20.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (2,276,813) $ (2,682,651)
Adjustments to reconcile net loss to net cash used in operating activities:    
Equity-based compensation 570,633 284,004
Non-cash warrant modification expense 441,763
Amortization of intangible assets 141 142
Changes in operating assets and liabilities:    
Prepaid research and development expenses (206,278) 126,290
Prepaid expenses and other current assets 119,117 38,125
Accrued expenses (38,399) 110,633
Accounts payable 6,178 (39,415)
Net cash used in operating activities (1,825,421) (1,721,109)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from sale of common stock and warrants 8,195,673
Proceeds from warrant exercise   1,050,637
Net cash provided by financing activities 9,246,310
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (1,825,421) 7,525,201
CASH AND CASH EQUIVALENTS-BEGINNING OF PERIOD 6,777,052 3,869,043
CASH AND CASH EQUIVALENTS-END OF PERIOD 4,951,631 11,394,244
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest paid
Income taxes paid
Previously accrued expenses paid in equity $ 117,001

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