v3.21.1
Consolidated Statements of Operations - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Feb. 28, 2021
Feb. 29, 2020
Feb. 28, 2021
Feb. 29, 2020
Operating expenses:        
General and administrative $ 7,902,000 $ 6,465,000 $ 25,328,000 $ 12,605,000
Research and development 12,323,000 15,109,000 44,061,000 32,691,000
Amortization and depreciation 511,000 501,000 1,522,000 1,532,000
Intangible asset impairment charge 10,049,000   10,049,000  
Total operating expenses 30,785,000 22,075,000 80,960,000 46,828,000
Operating loss (30,785,000) (22,075,000) (80,960,000) (46,828,000)
Other income   500,000   500,000
Interest income 1,000 3,000 2,000 5,000
Change in fair value of derivative liabilities   (2,934,000)   (2,105,000)
Loss on extinguishment of convertible notes (7,625,000)   (11,794,000)  
Interest expense:        
Finance charges (2,000) (61,000) (140,000) (1,619,000)
Amortization of discount on convertible notes (157,000)   (2,739,000) (1,470,000)
Amortization of debt issuance costs (21,000)   (40,000) (404,000)
Inducement interest expense (4,139,000) (5,163,000) (11,242,000) (7,876,000)
Interest on convertible notes payable (1,257,000) (6,038,000) (2,870,000) (6,995,000)
Total interest expense (5,576,000) (11,262,000) (17,031,000) (18,364,000)
Loss before income taxes (43,985,000) (35,768,000) (109,783,000) (66,792,000)
Income tax benefit 0 0 0 0
Net loss $ (43,985,000) $ (35,768,000) $ (109,783,000) $ (66,792,000)
Basic and diluted loss per share $ (0.08) $ (0.08) $ (0.18) $ (0.17)
Basic and diluted weighted average common shares outstanding 577,854 432,112 595,226 396,641

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