XML 15 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net loss $ (32,350,828) $ (23,085,907)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 897,709 522,298
Amortization of intangible assets 404,062 406,299
Change in value of common stock warrants 127,841 (116,477)
Stock-based compensation 3,575,750 5,372,797
Amortization of premiums on investments 55,522 69,004
Loss on short-term investments 253,316 51,706
Deferred rent (87,007) 1,208,085
Loss (gain) on equity investment in affiliated entities (2,380,423) 1,608,817
Changes in operating assets and liabilities:    
Accounts receivable 855,354 5,956,611
Accounts receivable from affiliated entity (1,755,950) (484,550)
Prepaid expenses and other current assets 598,891 (2,457,068)
Prepaid expenses and other current assets from affiliated entity 171,026 (304,345)
Other assets 190,726 587,993
Accounts payable and accrued expenses (6,363,762) (5,643,054)
Accrued clinical trial expenses (183,011) (458,516)
Accounts payable and accrued expenses due to affiliated entity 371,798 (543,410)
Deferred revenue 22,900,404 2,207,277
Deferred revenue from affiliated entity (117,943) (125,000)
Other liabilities 261,325 0
Net cash used in operating activities (12,575,200) (15,227,440)
Cash flows from investing activities:    
Purchases of investments (9,568,082) (5,925,232)
Maturities of investments 37,525,434 24,882,273
Purchases of capital assets (1,153,465) (789,257)
Net cash provided by investing activities 26,803,887 18,167,784
Cash flows from financing activities:    
Proceeds (payments) for stock option and warrant exercises, net of tax payments (506,403) 826,437
Net cash (used in) provided by financing activities (506,403) 826,437
Increase in cash and cash equivalents 13,722,284 3,766,781
Cash and cash equivalents, beginning of period 23,786,579 19,136,472
Cash and cash equivalents, end of period 37,508,863 22,903,253
Supplemental disclosure of non-cash activities    
Change in amounts accrued for purchases of property and equipment $ 164,288 $ 511,052