XML 16 R6.htm IDEA: XBRL DOCUMENT v3.21.1
Statements of Cash Flows - USD ($)
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities    
Net loss $ (14,274,059) $ (7,662,604)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 68,088 68,191
Loss on disposal of assets 2,174  
Non-cash lease expense 180,586 164,262
Stock-based compensation expense 1,614,185 1,822,148
Changes in assets and liabilities:    
Prepaid expenses and other current assets 85 2,267,641
Accounts payable 50,861 1,698,622
Accrued expenses (1,661,963) (2,059,678)
Noncurrent accrued expenses 109,582 393,273
Operating lease liabilities (214,810) (191,994)
Net cash used in operating activities (14,125,271) (3,500,139)
Investing activities    
Purchases of property and equipment (3,060) (8,136)
Net cash used in investing activities (3,060) (8,136)
Financing activities    
Proceeds from issuance of common stock, net of issuance costs 9,559,699  
Proceeds from exercise of stock options 4,239 129,972
Net cash provided by financing activities 9,563,938 129,972
Net change in cash and cash equivalents (4,564,393) (3,378,303)
Cash and cash equivalents, beginning of period 137,035,017 158,201,441
Cash and cash equivalents, end of period $ 132,470,624 $ 154,823,138