v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Operating expenses:        
Research and development $ 4,659,280 $ 1,390,376 $ 7,567,984 $ 1,994,709
General and administrative 12,457,534 525,736 14,558,936 1,141,390
Settlement expense     21,365,641  
Reimbursement of expenses from Relief Therapeutics   (2,020,931) (771,244) (2,020,931)
Total operating expenses 17,116,814 (104,819) 42,721,317 1,115,168
Income (loss) from operations (17,116,814) 104,819 (42,721,317) (1,115,168)
Other (income) expenses:        
Gain on extinguishment of debt     (120,810)  
Interest expense 5,107 2,532 10,288 38,800
Change in fair value of warrant liability (1,468,649)   (1,468,649)  
Change in fair value of Earnout Cash liability 354,701   354,701  
Change in fair value of embedded put       27,160
Loss on conversion of convertible notes payable       306,641
Total other (income) expenses (1,108,841) 2,532 (1,224,470) 372,601
Income (loss) before tax (16,007,973) 102,287 (41,496,847) (1,487,769)
Provision for income taxes     0  
Net income (loss) (16,007,973) 102,287 (41,496,847) (1,487,769)
Deemed dividend - warrants (2,691,799)   (2,691,799)  
Deemed dividend - Earnout Shares 253,130,272   253,130,272  
Net income (loss) attributable to common stockholders $ (271,830,043) $ 102,287 $ (297,318,917) $ (1,487,769)
Net earnings (loss) per share:        
Basic $ (0.38)   $ (1.07) $ (0.04)
Diluted (0.38)   (1.07) (0.04)
Net earnings (loss) per share attributable to common stockholders:        
Basic (6.51)   (7.68) (0.04)
Diluted $ (6.51)   $ (7.68) $ (0.04)
Weighted average common shares outstanding:        
Basic 41,727,480 33,819,205 38,709,614 33,799,503
Diluted 41,727,480 36,656,420 38,709,614 33,799,503

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