Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net loss $ (2,357,955) $ (2,118,272)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense included in - General and administrative costs 394,031 314,631
Stock-based compensation expense included in - Research and development costs 670,715 434,024
(Increase) decrease in -    
Advances on research and development contract services (29,792)
Accrued interest receivable 14,367 (2,678)
Prepaid insurance (34,583) (19,296)
Other prepaid expenses and current assets 11,294 (3,415)
Increase (decrease) in -    
Accounts payable and accrued expenses (28,031) 78,322
Research and development contract liabilities (32,418) 20,074
Net cash used in operating activities (1,392,372) (1,296,610)
Cash flows from financing activities:    
Payment of deferred offering costs (130,244)
Net cash used in financing activities (130,244)
Cash:    
Net decrease (1,522,616) (1,296,610)
Balance at beginning of period 2,598,864 4,273,012
Balance at end of period 1,076,248 2,976,402
Supplemental disclosures of cash flow information:    
Interest
Income taxes
Noncash investing and financing activities:    
Accrual of deferred offering costs $ 44,009