v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Operating expenses:        
Research and development $ 6,275,911 $ 4,331,709 $ 13,843,895 $ 6,326,416
General and administrative 13,823,240 3,753,704 28,382,177 4,895,092
Settlement expense     21,365,641  
Reimbursement of expenses from Relief Therapeutics   (2,936,214) (771,244) (4,957,145)
Total operating expenses 20,099,151 5,149,199 62,820,469 6,264,363
Income (loss) from operations (20,099,151) (5,149,199) (62,820,469) (6,264,363)
Other (income) expenses:        
Gain on extinguishment of debt     (120,810)  
Interest expense 5,368 12,513 15,656 51,317
Change in fair value of warrant liability 260,238   (1,208,412)  
Change in fair value of Earnout Cash liability 408,342   763,043  
Change in fair value of embedded put       27,160
Loss on conversion of convertible notes payable       306,641
Total other (income) expenses 673,948 12,513 (550,523) 385,118
Loss before tax (20,773,099) (5,161,712) (62,269,946) (6,649,481)
Provision for income taxes     0  
Net loss (20,773,099) (5,161,712) (62,269,946) (6,649,481)
Deemed dividend - warrants     (2,691,799)  
Deemed dividend - Earnout Shares     (253,130,272)  
Net loss attributable to common stockholders $ (20,773,099) $ (5,161,712) $ (318,092,017) $ (6,649,481)
Net loss per share:        
Basic $ (0.40) $ (0.15) $ (1.44) $ (0.20)
Diluted (0.40) (0.15) (1.44) (0.20)
Net loss per share attributable to common stockholders:        
Basic (0.40) (0.15) (7.35) (0.20)
Diluted $ (0.40) $ (0.15) $ (7.35) $ (0.20)
Weighted average common shares outstanding:        
Basic 51,739,452 34,139,672 43,290,675 33,799,503
Diluted 51,050,182 34,139,672 43,053,426 33,799,503

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