Quarterly report pursuant to Section 13 or 15(d)

Condensed Statement Of Cash Flows

v3.5.0.2
Condensed Statement Of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash Flows from Operating Activities:    
Net Loss $ (5,914,866) $ (7,505,871)
Adjustments to reconcile net loss to net cash used in operating activities:    
Compensatory stock 64,949 56,250
Depreciation and amortization 15,053 12,643
Amortization of premiums and discounts on marketable securities, net 22,315 13,900
Stock-based compensation 694,187 544,352
Amortization of deferred research and development arrangement (37,500) (37,500)
Unrealized gain on fair value of warrants (2,974,045) (1,674,175)
Financing expense 169,887  
Amortization of deferred lease incentive (6,222) (6,221)
Deferred lease expenses (5,203) (3,290)
Changes in assets and liabilities:    
Prepaid expenses and other assets 225,735 (551,351)
Accounts payable and accrued expenses (866,651) 709,545
Net Cash Used in Operating Activities (8,612,361) (8,441,718)
Cash Flows from Investing Activities:    
Purchase of equipment (7,511) (12,388)
Purchase of marketable securities (1,721,760) (740,825)
Redemption of marketable securities 3,440,000 7,625,000
Net Cash Provided by Investing Activities 1,710,729 6,871,787
Cash Flows from Financing Activities:    
Issuance of common stock and units, net of issuance costs 4,580,187 1,005,715
Proceeds from exercise of stock options   708,617
Net Cash Provided by Financing Activities 4,580,187 1,714,332
Net (Decrease) Increase in Cash and Cash Equivalents (2,321,445) 144,401
Cash and Cash Equivalents - beginning of period 10,199,440 9,826,245
Cash and Cash Equivalents - end of period 7,877,995 $ 9,970,646
Non-cash financing and investing activties:    
Warrants issued $ 2,575,860