Quarterly report pursuant to Section 13 or 15(d)

Condensed Statement Of Cash Flows

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Condensed Statement Of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash Flows from Operating Activities:    
Net loss $ (5,913,141) $ (20,663,968)
Adjustments to reconcile net loss to net cash used in operating activities:    
Compensatory stock 12,150 12,750
Depreciation and amortization 27,188 19,950
Amortization of premiums and discounts on marketable securities, net 26,504 20,024
Stock-based compensation 563,728 562,392
Amortization and termination of deferred research and development arrangement (375,000) (37,500)
Unrealized (gain) loss on fair value of warrants (4,462,196) 12,168,331
Financing expense   333,050
Amortization of deferred lease incentive (6,222) (6,222)
Deferred lease expenses (10,927) (7,170)
Changes in assets and liabilities:    
Prepaid expenses and other assets (61,237) (591,124)
Accounts payable and accrued expenses 147,767 (78,492)
Net Cash Used in Operating Activities (10,051,386) (8,267,979)
Cash Flows from Investing Activities:    
Purchase of equipment (3,493) (17,910)
Purchase of marketable securities   (15,008,660)
Redemption of marketable securities 6,250,000 5,720,000
Net Cash Provided by (Used In) Investing Activities 6,246,507 (9,306,570)
Cash Flows from Financing Activities:    
Issuance of common stock and units, net of issuance costs   9,355,002
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
Net Decrease in Cash and Cash Equivalents (3,804,879) (2,787,954)
Cash and Cash Equivalents - beginning of period 8,899,154 11,578,473
Cash and Cash Equivalents - end of period $ 5,094,275 8,790,519
Non-cash financing and investing activties:    
Warrants issued   4,107,488
Warrant liability extinguishment from exercise of warrants   8,052,594
Offering costs included in accounts payable and accrued expenses   $ 113,731