Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets

v3.7.0.1
Balance Sheets - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 3,001,553 $ 5,127,958
Grants receivable 187,363 132,472
Prepaid expenses and other current assets 249,603 391,253
Restricted cash, current portion 20,203 11,111
Total current assets 3,458,722 5,662,794
Property and equipment, net 39,214 43,243
Restricted cash, net of current portion 62,834 62,828
Total assets 3,560,770 5,768,865
Current liabilities:    
Term debt, net of discount 1,492,356 2,353,667
Accounts payable 595,876 1,010,209
Accrued expenses and other current liabilities 638,983 942,435
Warrant liability 2,706 5,501
Unit purchase option liability 6,607 51
Total current liabilities 2,736,528 4,311,863
License obligations 1,250,000 1,250,000
Total liabilities 3,986,528 5,561,863
Stockholders’ (deficit) equity:    
Preferred stock—$0.001 par value; 5,000,000 shares authorized at March 31, 2017 and December 31, 2016; zero shares issued and outstanding at March 31, 2017 and December 31, 2016
Common stock—$0.001 par value; 200,000,000 shares authorized at March 31, 2017 and December 31, 2016; 10,901,165 and 9,434,141 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively 10,901 9,434
Additional paid-in capital 71,559,062 70,232,651
Accumulated deficit (71,995,721) (70,035,083)
Total stockholders’ (deficit) equity (425,758) 207,002
Total liabilities and stockholders’ (deficit) equity $ 3,560,770 $ 5,768,865