XML 15 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
Statements of Cash Flows - USD ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating activities    
Net loss $ (11,512,844) $ (7,931,313)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 68,757 54,339
Stock-based compensation expense 1,115,830 842,847
Changes in assets and liabilities    
Prepaid expenses and other current assets (182,401) (218,560)
Accounts payable 1,206,896 (1,063,049)
Accrued expenses and bonuses (887,737) (748,402)
Deferred rent (17,325) 2,523
Net cash used in operating activities (10,208,824) (9,061,615)
Investing activities    
Purchases of property and equipment (16,618) (62,969)
Net cash used in investing activities (16,618) (62,969)
Financing activities    
Proceeds from issuance of common stock, net of issuance costs 128,634,000 3,668,043
Proceeds from exercise of stock options 298,789 5,478
Net cash provided by financing activities 128,932,789 3,673,521
Net change in cash and cash equivalents 118,707,347 (5,451,063)
Cash and cash equivalents, beginning of period 123,924,738 40,041,641
Cash and cash equivalents, end of period 242,632,085 34,590,578
Non-cash investing activities and financing activities    
Property acquisition costs included in accounts payable and accrued expenses   $ 9,553
Issuance costs associated with financing included in accounts payable and accrued expenses $ 198,000