Annual report pursuant to Section 13 and 15(d)

Condensed Statement Of Cash Flows

v3.8.0.1
Condensed Statement Of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash Flows from Operating Activities:      
Net loss $ (25,294,503) $ (9,307,345) $ (14,384,556)
Adjustments to reconcile net loss to net cash used in operating activities:      
Compensatory stock 31,200 97,649 102,000
Depreciation and amortization 42,358 32,916 27,498
Amortization of premiums and discounts on marketable securities, net 52,012 22,321 30,875
Stock-based compensation 1,044,167 1,409,488 1,037,679
Amortization of deferred research and development arrangements (75,000) (75,000) (75,000)
Unrealized loss (gain) on fair value of warrants 7,594,162 (5,529,907) (3,986,727)
Financing expense 552,627 313,090 211,116
Amortization of deferred lease incentive (12,444) (12,443) (12,443)
Deferred lease expenses (10,036) (12,373) (8,492)
Changes in assets and liabilities:      
Prepaid expenses and other assets (696,024) 613,301 (495,935)
Accounts payable and accrued expenses 1,351,426 (778,798) 202,035
Net Cash Used in Operating Activities (15,420,055) (13,227,101) (17,351,950)
Cash Flows from Investing Activities:      
Purchase of equipment (75,168) (8,666) (62,302)
Purchase of marketable securities (21,017,610) (8,747,423) (7,908,304)
Redemption of marketable securities 11,720,000 13,240,000 17,525,000
Net Cash (Used in) Provided by Investing Activities (9,372,778) 4,483,911 9,554,394
Cash Flows from Financing Activities:      
Issuance of common stock and units, net of issuance costs 16,681,921 10,122,223 7,439,809
Proceeds from exercise of stock warrants 5,354,093   22,325
Proceeds from exercise of stock options 77,500   708,617
Net Cash Provided by Financing Activities 22,113,514 10,122,223 8,170,751
Net (Decrease) Increase in Cash and Cash Equivalents (2,679,319) 1,379,033 373,195
Cash and Cash Equivalents - beginning of period 11,578,473 10,199,440 9,826,245
Cash and Cash Equivalents - end of period 8,899,154 11,578,473 10,199,440
Non-cash financing and investing activties:      
Warrants issued 6,738,701 $ 4,364,110 2,966,917
Warrant liability extinguishment from exercise of warrants $ 8,052,594   9,378
Retirement of treausry stock     $ 128,410