Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Operating expenses        
Research and development $ 1,254,653 $ 1,781,724 $ 4,227,967 $ 4,474,531
Cost to acquire IPR&D asset 21,215,214 0 21,215,214 0
General and administrative 2,235,899 1,140,558 5,357,577 4,554,131
Estimated legal contingency 0 0 151,842 0
Total operating expenses 24,705,766 2,922,282 30,648,916 9,028,662
Operating loss (24,705,766) (2,922,282) (30,648,916) (9,028,662)
Other expense        
Change in fair value of derivative liability 0 (6,228) (3) (59,406)
Interest expense 271,307 211,229 476,135 615,563
Interest income (16,562) 0 (49,669) 0
Loss from divestiture of asset 0 0 307,086 0
Debt conversion inducement expense 0 0 1,383,285 0
Wind-down costs (14,677) 0 455,504 0
Total other expense, net 240,068 205,001 2,572,338 556,157
Loss before income taxes (24,945,834) (3,127,283) (33,221,254) (9,584,819)
Provision for income taxes 0 0 3,600 5,141
Net loss $ (24,945,834) $ (3,127,283) $ (33,224,854) $ (9,589,960)
Loss per common share:        
Basic (in dollars per share) $ (3.17) $ (1.58) $ (6.38) $ (4.83)
Diluted (in dollars per share) $ (3.17) $ (1.58) $ (6.38) $ (4.83)
Weighted average shares of common stock outstanding used to compute earnings per share:        
Basic (in shares) 7,880,546 1,983,700 5,207,411 1,983,566
Diluted (in shares) 7,880,546 1,983,700 5,207,411 1,983,566