Quarterly report pursuant to Section 13 or 15(d)

Condensed Statement Of Cash Flows

v3.8.0.1
Condensed Statement Of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash Flows from Operating Activities:    
Net loss $ (21,702,040) $ (8,781,862)
Adjustments to reconcile net loss to net cash used in operating activities:    
Compensatory stock 31,200 97,649
Depreciation and amortization 30,963 24,123
Amortization of premiums and discounts on marketable securities, net 40,578 21,535
Stock-based compensation 790,006 1,063,589
Amortization of deferred research and development arrangements (56,250) (56,250)
Unrealized loss (gain) on fair value of warrants 9,047,831 (3,941,682)
Financing expense 333,050 313,090
Amortization of deferred lease incentive (9,333) (9,333)
Deferred lease expenses (8,314) (8,787)
Changes in assets and liabilities:    
Prepaid expenses and other assets (669,087) 419,765
Accounts payable and accrued expenses 456,277 (875,574)
Net Cash Used in Operating Activities (11,715,119) (11,733,737)
Cash Flows from Investing Activities:    
Purchase of equipment (21,369) (8,263)
Purchase of marketable securities (15,008,660) (8,747,423)
Redemption of marketable securities 8,720,000 8,560,000
Net Cash Used in Investing Activities (6,310,029) (195,686)
Cash Flows from Financing Activities:    
Issuance of common stock and units, net of issuance costs 9,241,271 10,122,223
Proceeds from exercise of stock warrants 5,354,093  
Proceeds from exercise of stock options 77,500  
Net Cash Provided by Financing Activities 14,672,864 10,122,223
Net Decrease in Cash and Cash Equivalents (3,352,284) (1,807,200)
Cash and Cash Equivalents - beginning of period 11,578,473 10,199,440
Cash and Cash Equivalents - end of period 8,226,189 8,392,240
Non-cash financing and investing activties:    
Warrants issued 4,107,488 $ 4,364,110
Warrant liability extinguishment from exercise of warrants $ 8,052,594