Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.20.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Schedule of components of deferred tax assets and liabilities
    2019     2018  
Deferred tax assets:            
Net operating losses carry forward   $ 31,688,387     $ 34,531,577  
Share-based compensation     1,421,701       2,950,963  
Research and development/orphan drug credits     10,871,634       8,896,703  
Intangibles     5,942,126       -  
Others     13,172       15,285  
Less: valuation allowance     (49,937,020 )     (46,394,528 )
                 
Deferred tax assets, net   $ -     $ -  
Schedule of difference between income tax provision and U.S federal statutory rate

    December 31,
2019
    December 31,
2018
 
                         
Federal statutory income taxes   $ (4,598,801 )     (21.0 )%   $ (4,967,332 )     (21.0 )%
State income taxes     1,076,602       4.9 %     1,413,678       6.0 %
Deferred true-up     1,809,913       8.3 %     -       - %
Research and Development/Orphan Drug Tax Credit     (1,974,931 )     (9.0 )%     (1,986,609 )     (8.4 )%
Other     144,725       0.6 %     40,049       0.2 %
Change in valuation allowance     3,542,492       16.2 %     5,500,214       23.2 %
                                 
Provision for income tax   $ -       -     $ -       -