Quarterly report pursuant to Section 13 or 15(d)

Condensed Statement Of Cash Flows

v3.5.0.2
Condensed Statement Of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash Flows from Operating Activities:    
Net Loss $ (8,781,862) $ (11,532,401)
Adjustments to reconcile net loss to net cash used in operating activities:    
Compensatory stock 97,649 102,000
Depreciation and amortization 24,123 19,942
Amortization of premiums and discounts on marketable securities, net 21,535 21,623
Stock-based compensation 1,063,589 769,668
Amortization of deferred research and development arrangement (56,250) (56,250)
Unrealized gain on fair value of warrants (3,941,682) (2,282,476)
Financing expense 313,090  
Amortization of deferred lease incentive (9,333) (9,332)
Deferred lease expenses (8,787) (5,891)
Changes in assets and liabilities:    
Prepaid expenses and other assets 419,765 (749,874)
Accounts payable and accrued expenses (875,574) 778,800
Net Cash Used in Operating Activities (11,733,737) (12,944,191)
Cash Flows from Investing Activities:    
Purchase of equipment (8,263) (52,499)
Purchase of marketable securities (8,747,423) (740,825)
Redemption of marketable securities 8,560,000 14,625,000
Net Cash (Used in) Provided by Investing Activities (195,686) 13,831,676
Cash Flows from Financing Activities:    
Issuance of common stock and units, net of issuance costs 10,122,223 1,005,715
Proceeds from exercise of stock options   708,617
Proceeds from exercise of stock warrants   22,325
Net Cash Provided by Financing Activities 10,122,223 1,736,657
Net (Decrease) Increase in Cash and Cash Equivalents (1,807,200) 2,624,142
Cash and Cash Equivalents - beginning of period 10,199,440 9,826,245
Cash and Cash Equivalents - end of period 8,392,240 12,450,387
Non-cash financing and investing activties:    
Warrants issued $ 4,364,110  
Warrant liability extinguishment from exercise of warrants   $ 9,378