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Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net loss $ (28,673,320) $ (21,741,633)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 135,573 135,872
Loss on disposal of assets 2,174  
Non-cash lease expense 365,521 332,413
Stock-based compensation 3,176,346 3,583,822
Changes in assets and liabilities:    
Prepaid expenses and other current assets (222,539) 812,917
Accounts payable (915,351) (70,944)
Accrued expenses (1,314,340) (1,230,997)
Noncurrent accrued expenses 143,994 515,144
Lease liabilities (434,757) (388,646)
Net cash used in operating activities (27,736,699) (18,052,052)
Investing activities    
Purchases of property and equipment (8,162) (14,519)
Net cash used in investing activities (8,162) (14,519)
Financing activities    
Proceeds from issuance of common stock, net of issuance costs 9,559,699 9,574,137
Proceeds from exercise of stock options 4,239 135,583
Net cash provided by financing activities 9,563,938 9,709,720
Net change in cash and cash equivalents (18,180,923) (8,356,851)
Cash and cash equivalents, beginning of period 137,035,017 158,201,441
Cash and cash equivalents, end of period $ 118,854,094 149,844,590
Non-cash investing and financing activities    
Property acquisition costs included in accounts payable   $ 6,592