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Condensed Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows From Operating Activities    
Net loss $ (10,193,067) $ (10,466,475)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation of property and equipment 75,243 49,343
Amortization of debt discount 15,514  
Stock-based compensation 1,294,268 1,217,011
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (259,996) (137,187)
License fee and expense reimbursements receivables 2,066,707  
Deferred license costs 1,600,000  
Accounts payable 205,969  
Accrued compensation (280,006) (462,658)
Accrued expenses and other current liabilities (425,769) (342,967)
Deferred license fee (4,000,000) 227,795
Security deposit   (1,235)
Deferred rent (2,004) (6)
Net Cash Used In Operating Activities (9,903,141) (9,916,379)
Cash Flows From Investing Activities    
Purchases of property and equipment (647,744) (132,243)
Net Cash Used In Investing Activities (647,744) (132,243)
Cash Flows From Financing Activities    
Proceeds from sale of common stock and warrants in private placement [1]   5,569,136
Proceeds from exercise of stock warrants 2,103,991 376,421
Proceeds from PPP 7(a) Loan   463,353
Proceeds from SVB loan 7,500,000  
Repayments of notes payable (311,563) (209,324)
Payment of offering issuance costs   (117,394)
Payment of loan issuance costs (66,618)  
Proceeds from exercise of stock options 130,090  
Net Cash Provided By Financing Activities 9,355,900 6,082,192
Net Decrease in Cash and Cash Equivalents (1,194,985) (3,966,430)
Cash and cash equivalents - Beginning of Period 28,371,828 14,152,601
Cash and cash equivalents - End of Period 27,176,843 10,186,171
Supplemental Disclosure of Cash Flow Information:    
Interest 70,457 6,032
Income taxes 0 0
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Purchase of insurance premium financed by note payable (705,360) $ (475,216)
Issuance of SVB stock warrants $ (351,390)  
[1] Includes gross proceeds of $5,984,931, less issuance costs of $415,795 deducted directly from the private placement.