XML 22 R6.htm IDEA: XBRL DOCUMENT v3.19.2
Unaudited Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities    
Net loss $ (29,913,712) $ (22,791,607)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 141,631 138,317
Loss on disposal of property and equipment   168
Amortization of operating lease right-of-use asset 302,843  
Stock-based compensation expense 2,901,839 2,266,219
Changes in assets and liabilities    
Prepaid expenses and other current assets (34,547) (188,632)
Prepaid research and development expenses   (1,510,607)
Accounts payable 363,167 592,413
Accrued expenses and bonuses 844,026 (1,738,448)
Operating lease liabilities (347,744) (34,649)
Net cash used in operating activities (25,742,497) (23,266,826)
Investing activities    
Purchases of property and equipment (114,305) (42,054)
Net cash used in investing activities (114,305) (42,054)
Financing activities    
Proceeds from issuance of common stock, net of issuance costs   128,425,080
Proceeds from exercise of stock options and warrants 106,321 393,786
Net cash provided by financing activities 106,321 128,818,866
Net change in cash and cash equivalents (25,750,481) 105,509,986
Cash and cash equivalents, beginning of period 209,917,595 123,924,738
Cash and cash equivalents, end of period $ 184,167,114 $ 229,434,724