Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations (Unaudited)

v3.19.1
Consolidated Statements of Operations (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenue:    
Royalty revenue $ 14,000 $ 16,000
Sublease revenue 94,408
Grant and other revenue 38,474 275,650
Total revenue 136,032 276,445
Cost of revenue 6,126 318
Gross profit 129,906 276,127
Operating expenses:    
Research and development 740,583 998,956
Selling, general and administrative 1,822,924 1,776,372
Total operating expenses 2,563,507 2,775,328
Loss from operations [1] (2,433,601) (2,499,201)
Other income (expense):    
Interest income, net 9,848 31,387
Loss on extinguishment of debt (4,265,434)
Other, net (1,135) (4,714)
Total other income (expense), net [2] 8,713 (4,238,761)
Loss before income taxes (2,424,888) (6,737,962)
Provision for income taxes (876)
Net loss from continuing operations (2,425,764) (6,737,962)
Loss from discontinued operations, net of tax effect (3,297)
Net loss (2,429,061) (6,737,962)
Less loss attributable to noncontrolling interest (12) (9)
Net loss attributable to common stockholders $ (2,429,049) $ (6,737,953)
Loss per common share (basic and diluted):    
Continuing operations (in dollars per share) $ (0.24) $ (0.83)
Discontinued operations (in dollars per share)
Attributable to common stockholders (in dollars per share) $ (0.24) $ (0.83)
Weighted average shares outstanding (in shares) 10,017,848 8,113,451
Royalty [Member]    
Revenue:    
Royalty revenue $ 3,150 $ 795
[1] Loss from operations does not reflect the allocation of certain selling, general and administrative expenses, excluding depreciation and amortization, to our individual reportable segments, other than those expenses directly incurred by MT.
[2] Amounts consist primarily of losses on debt extinguishment, interest income and interest expense, which are not currently allocated to our individual reportable segments.