XML 17 R7.htm IDEA: XBRL DOCUMENT v3.23.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Cash flows from operating activities:      
Net loss $ (40,649,317) $ (79,073,719)  
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 707,378 929,383  
Amortization of intangible assets 82,083 126,770  
Amortization of operating lease right-of-use assets 362,664 319,586  
Non-cash stock-based compensation 3,809,003 7,711,151  
Non-cash interest on senior convertible notes (219,999) (219,999)  
Amortization of (discounts) premiums on investments (1,159,083) 125,810  
Realized loss on short-term investments 2,425,676 318,684  
Loss on disposal of fixed assets 334,297 157,666  
Gain on remeasurement of investment in Geneos 0 (165,215)  
(Gain) loss on equity investment in affiliated entity (616,639) 537,728  
Share of net loss in Geneos 0 2,165,213  
Net unrealized (gain) loss on available-for-sale equity securities (3,218,215) 4,840,641  
Changes in operating assets and liabilities:      
Accounts receivable, including from affiliated entities 6,703,110 541,248  
Prepaid expenses and other current assets, including from affiliated entities 39,324,542 7,075,934  
Other assets 31,527 151,999  
Accounts payable and accrued expenses, including due to affiliated entities (40,737,879) (9,000,559)  
Accrued clinical trial expenses (4,798,227) 1,501,489  
Deferred revenue, including from affiliated entity 0 (9,963)  
Operating lease right-of-use assets and liabilities, net (693,691) (624,673)  
Grant funding liability, including from affiliated entity 1,648,292 723,550  
Other liabilities 0 (14,826)  
Net cash used in operating activities (36,664,478) (61,882,102)  
Cash flows from investing activities:      
Purchases of investments (80,431,174) (99,722,697)  
Proceeds from sale or maturity of investments 93,657,050 123,055,048  
Purchases of capital assets (296,983) 0  
Proceeds from sale of capital assets 6,071,000 0  
Investment in Geneos 0 (1,999,998)  
Net cash provided by investing activities 18,999,893 21,332,353  
Cash flows from financing activities:      
Proceeds from issuance of common stock, net of issuance costs 0 29,364,538  
Proceeds from stock option exercises 0 83,812  
Taxes paid related to net share settlement of equity awards (424,704) (1,026,333)  
Net cash (used in) provided by financing activities (424,704) 28,422,017  
Effect of exchange rate changes on cash and cash equivalents (1,918) (6,555)  
Decrease in cash and cash equivalents (18,091,207) (12,134,287)  
Cash and cash equivalents, beginning of period 46,329,359 71,143,778 $ 71,143,778
Cash and cash equivalents, end of period 28,238,152 59,009,491 $ 46,329,359
Supplemental disclosures:      
Amounts accrued for purchases of fixed assets 0 330,779  
Interest paid 533,487 533,487  
Issuance of common stock for the legal settlement $ 14,000,000 $ 0