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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 9 Months Ended
--- | ---
Sep. 30, 2019 | Sep. 30, 2018
Cash flows from operating activities: |  |
Net (loss)/income | $ (2,738,542) | $ 369,416,894
Adjustments to reconcile net loss to net cash used in operating activities: |  |
Depreciation and other amortization | 395,540 | 48,639
(Decrease)/increase in fair value of warrant liability | (4,774,711) | 5,271,503
Stock-based compensation | 1,717,380 | 1,866,279
Deferred income taxes provision benefit | (1,065,675) | (25,520,615)
Net realization of deferred revenue and costs due to FDA approval | 0 | (281,950,853)
Non-cash interest expense | 3,363,712 | 3,363,712
Changes in assets and liabilities: |  |
Accounts receivable | (1,258,568) | 369,872
Inventory | (1,022,951) | 0
Prepaid expenses and other assets | 2,189,076 | 567,042
Accounts payable, accrued expenses and other liabilities | (697,325) | (969,951)
Deferred revenue | (47,939) | 0
Net cash (used in)/provided by operating activities | (3,940,003) | 72,462,522
Cash flows from investing activities: |  |
Capital expenditures | (29,092) | (27,863)
Net cash used in investing activities | (29,092) | (27,863)
Cash flows from financing activities: |  |
Net proceeds from exercise of stock options | 0 | 252,679
Payment of employee tax obligations for common stock tendered | (199,810) | (1,708,290)
Net cash used in financing activities | (199,810) | (1,455,611)
Net (decrease)/increase in cash, cash equivalents and restricted cash | (4,168,905) | 70,979,048
Cash, cash equivalents and restricted cash at the beginning of period | 180,396,910 | 37,101,586
Cash, cash equivalents and restricted cash at end of period | 176,228,005 | 108,080,634
Supplemental disclosure of non-cash financing activities: |  |
Conversion of warrants to common stock | 1,172,801 | 6,007,847
Issuance of common stock upon cashless exercise | $ 118,500 | $ 1,582,420

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