Quarterly report pursuant to Section 13 or 15(d)

Condensed Statement Of Cash Flows

v3.4.0.3
Condensed Statement Of Cash Flows - USD ($)
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash Flows from Operating Activities:    
Net Loss $ (4,149,042) $ (4,271,711)
Adjustments to reconcile net loss to net cash used in operating activities:    
Compensatory stock 48,749 56,250
Depreciation and amortization 6,161 6,165
Amortization of premiums and discounts on marketable securities, net 13,308 6,778
Stock-based compensation 343,011 272,386
Amortization of deferred research and development arrangements (18,750) (18,750)
Unrealized (gain) loss on fair value of warrants (855,955) (115,415)
Financing expense 169,887  
Amortization of deferred lease incentive (3,111) (3,111)
Deferred lease expenses (2,601) (1,645)
Changes in assets and liabilities:    
Prepaid expenses and other assets 275,757 (260,040)
Accounts payable and accrued expenses 622,969 290,276
Net Cash Used in Operating Activities (3,549,617) (4,038,817)
Cash Flows from Investing Activities:    
Purchase of equipment (4,596) (7,935)
Purchase of marketable securities (1,721,760) (740,825)
Redemption of marketable securities 960,000 4,985,000
Net Cash (Used In) Provided by Investing Activities (766,356) 4,236,240
Cash Flows from Financing Activities:    
Issuance of common stock and units, net of issuance costs 4,580,187  
Proceeds from exercise of stock options   705,542
Net Cash Provided by Financing Activities 4,580,187 705,542
Net Increase in Cash and Cash Equivalents 264,214 902,965
Cash and Cash Equivalents - beginning of period 10,199,440 9,826,245
Cash and Cash Equivalents - end of period 10,463,654 $ 10,729,210
Non-cash financing and investing activties:    
Warrants issued $ 2,575,860