XML 15 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating activities    
Net loss $ (24,023,210) $ (23,481,241)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 193,976 139,749
Stock-based compensation expense 2,796,301 2,238,647
Changes in assets and liabilities    
Prepaid expenses and other current assets (537,244) (797,906)
Prepaid research and development expenses   (63,000)
Deposits   (52,320)
Accounts payable 66,512 682,504
Accrued expenses and bonuses 125,250 (3,122,258)
Deferred rent (21,072) 679,177
Net cash used in operating activities (21,399,487) (23,776,648)
Investing activities    
Purchases of property and equipment (259,860) (265,635)
Net cash used in investing activities (259,860) (265,635)
Financing activities    
Proceeds from issuance of common stock, net of issuance costs 94,269,213 22,453,785
Proceeds from exercise of stock options 221,027 68,488
Net cash provided by financing activities 94,490,240 22,522,273
Net change in cash and cash equivalents 72,830,893 (1,520,010)
Cash and cash equivalents, beginning of period 40,041,641 46,802,560
Cash and cash equivalents, end of period $ 112,872,534 45,282,550
Non-cash investing activities    
Property acquisition included in accounts payable   $ 29,329