XML 15 R5.htm IDEA: XBRL DOCUMENT v3.7.0.1
Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities    
Net loss $ (16,073,109) $ (15,626,548)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 123,916 93,941
Stock-based compensation expense 1,833,955 1,499,233
Changes in assets and liabilities    
Prepaid expenses and other current assets (23,652) (1,007,209)
Deposits   (52,320)
Accounts payable (990,099) 816,924
Accrued expenses and bonuses (31,672) (2,665,895)
Deferred rent (8,948) 637,229
Net cash used in operating activities (15,169,609) (16,304,645)
Investing activities    
Purchases of property and equipment (227,173) (40,250)
Net cash used in investing activities (227,173) (40,250)
Financing activities    
Proceeds from issuance of common stock, net of issuance costs 94,405,507 22,589,562
Proceeds from exercise of stock options 97,562 37,963
Net cash provided by financing activities 94,503,069 22,627,525
Net change in cash and cash equivalents 79,106,287 6,282,630
Cash and cash equivalents, beginning of period 40,041,641 46,802,560
Cash and cash equivalents, end of period 119,147,928 53,085,190
Non-cash investing and financing activities    
Property acquisition included in accounts payable   20,297
Issuance costs associated with financing included in accounts payable and accrued expenses $ 133,185 $ 95,027