Quarterly report pursuant to Section 13 or 15(d)

Condensed Statement Of Cash Flows

v3.7.0.1
Condensed Statement Of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash Flows from Operating Activities:    
Net loss $ (20,663,968) $ (5,914,866)
Adjustments to reconcile net loss to net cash used in operating activities:    
Compensatory stock 12,750 64,949
Depreciation and amortization 19,950 15,053
Amortization of premiums and discounts on marketable securities, net 20,024 22,315
Stock-based compensation 562,392 694,187
Amortization of deferred research and development arrangements (37,500) (37,500)
Unrealized loss (gain) on fair value of warrants 12,168,331 (2,974,045)
Financing expense 333,050 169,887
Amortization of deferred lease incentive (6,222) (6,222)
Deferred lease expenses (7,170) (5,203)
Changes in assets and liabilities:    
Prepaid expenses and other assets (591,124) 225,735
Accounts payable and accrued expenses (78,492) (866,651)
Net Cash Used in Operating Activities (8,267,979) (8,612,361)
Cash Flows from Investing Activities:    
Purchase of equipment (17,910) (7,511)
Purchase of marketable securities (15,008,660) (1,721,760)
Redemption of marketable securities 5,720,000 3,440,000
Net Cash (Used in) Provided by Investing Activities (9,306,570) 1,710,729
Cash Flows from Financing Activities:    
Issuance of common stock and units, net of issuance costs 9,355,002 4,580,187
Proceeds from exercise of stock warrants 5,354,093  
Proceeds from exercise of stock options 77,500  
Net Cash Provided by Financing Activities 14,786,595 4,580,187
Net Decrease in Cash and Cash Equivalents (2,787,954) (2,321,445)
Cash and Cash Equivalents - beginning of period 11,578,473 10,199,440
Cash and Cash Equivalents - end of period 8,790,519 7,877,995
Non-cash financing and investing activties:    
Warrants issued 4,107,488 $ 2,575,860
Warrant liability extinguishment from exercise of warrants 8,052,594  
Offering costs included in accounts payable and accrued expenses $ 113,731