Annual report pursuant to Section 13 and 15(d)

Statement Of Cash Flows

v3.6.0.2
Statement Of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash Flows from Operating Activities:      
Net Loss $ (9,307,345) $ (14,384,556) $ (18,521,601)
Adjustments to reconcile net loss to net cash used in operating activities:      
Compensatory stock 97,649 102,000 409,000
Depreciation and amortization 32,916 27,498 28,325
Amortization of premiums and discounts on marketable securities, net 22,321 30,875 10,228
Stock-based compensation 1,409,488 1,037,679 608,795
Amortization of deferred research and development (75,000) (75,000) (233,630)
Unrealized (gain) loss on fair value of warrants (5,529,907) (3,986,727) 5,180,107
Financing expense 313,090 211,116 206,172
Amortization of deferred lease incentive (12,443) (12,443) (12,443)
Deferred lease expenses (12,373) (8,492) 7,834
Changes in assets and liabilities:      
Prepaid expenses and other assets 613,301 (495,935) (249,503)
Accounts payable and accrued expenses (778,798) 202,035 1,525,505
Net Cash Used in Operating Activities (13,227,101) (17,351,950) (11,041,211)
Cash Flows from Investing Activities:      
Restricted cash equivalents     196,130
Purchase of equipment (8,666) (62,302) (41,249)
Purchase of marketable securities (8,747,423) (7,908,304) (26,075,926)
Redemption of marketable securities 13,240,000 17,525,000 3,260,000
Net Cash Provided by (Used in) Investing Activities 4,483,911 9,554,394 (22,661,045)
Cash Flows from Financing Activities:      
Issuance of common stock and units, net of issuance costs 10,122,223 7,439,809 18,634,247
Proceeds from exercise of stock options   708,617 258,955
Proceeds from exercise of stock warrants   22,325 5,947,268
Net Cash Provided by Financing Activities 10,122,223 8,170,751 24,840,470
Net Increase (Decrease) in Cash and Cash Equivalents 1,379,033 373,195 (8,861,786)
Cash and Cash Equivalents - beginning of period 10,199,440 9,826,245 18,688,031
Cash and Cash Equivalents - end of period 11,578,473 10,199,440 9,826,245
Non-cash financing and investing activties:      
Warrants issued $ 4,364,110 2,966,917 3,691,429
Warrant liability extinguishment from exercise of warrants   9,378 10,137,243
Shares withheld for net stock option exercise     $ 100,000
Retirement of treausry stock   $ 128,410