Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
COSTS AND EXPENSES:    
Research and development $ 8,996,058 $ 6,835,229
General and administrative 5,182,566 4,820,073
Impairment of goodwill 0 1,675,462
Total costs and expenses 14,178,624 13,330,764
LOSS FROM OPERATIONS (14,178,624) (13,330,764)
OTHER INCOME:    
Gain on revaluation of derivative warrants 43,000 62,050
Interest income, net 42,712 29,687
Total other income, net 85,712 91,737
NET LOSS (14,092,912) (13,239,027)
DEEMED DIVIDEND ON PREFERRED STOCK 0 (2,241,795)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (14,092,912) $ (15,480,822)
BASIC AND DILUTED NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS PER COMMON SHARE $ (1.84) $ (5.23)
SHARES USED IN COMPUTING BASIC AND DILUTED NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS PER COMMON SHARE 7,675,092 2,961,972