XML 27 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net loss $ (7,045,947) $ (17,812,415)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 457,616 545,698
Stock-based compensation 932,314 2,660,468
Amortization of debt discount and issuance costs 6,331 75,199
Gain on disposal of fixed assets   (148,898)
Write-down of fixed assets 3,332,736  
Change in fair value of warrant liability (5,846,862) (641,037)
Conversion of CIRM loan to grant revenue (8,916,641)  
Gain on extinguishment of CIRM loan (242,931)  
Changes in operating assets and liabilities:    
Trade receivables   153,026
Accrued interest and other receivables 5,843 69,251
Prepaid and other current assets 533,607 182,581
Other assets 742,729  
Cash to trust account (2,300,000)  
Accounts payable and accrued expenses (1,449,649) (1,536,194)
Acccrued wind-down expense 2,209,730  
Deferred revenue (8,413) (8,413)
Deferred rent (44,977) (23,766)
Net cash used in operating activities (17,634,514) (16,484,500)
Cash flows from investing activities:    
Purchases of property, plant and equipment (15,434) (556,313)
Proceeds from sale of property, plant and equipment   148,713
Net cash used in investing activities (15,434) (407,600)
Cash flows from financing activities:    
Proceeds from the issuance of common stock, net of issuance costs 7,259,613 24,942,963
Release of restricted Cash 2,422,500  
Payments related to net share issuance of stock based awards (260,135) (386,488)
Repayment of capital lease obligations (11,030) (11,014)
Repayment of loan payable (1,422,495) (2,698,054)
Net cash provided by (used in) financing activities 7,988,453 21,847,407
Increase (decrease) in cash and cash equivalents (9,661,495) 4,955,307
Effects of foreign exchange rate changes on cash (309) (13,770)
Cash and cash equivalents, beginning of period 12,110,565 24,987,603
Cash and cash equivalents, end of period 2,448,761 29,929,140
Supplemental disclosure of cash flow information:    
Interest paid $ 28,029 143,036
Supplemental schedule of non-cash investing and financing activities:    
Equipment acquired under a capital lease [1]   $ 23,617
[1] Represents the present value of future minimum capital lease payment for equipment leased