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Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net loss $ (25,764,539) $ (30,696,470)
Adjustments to reconcile net loss to cash used in operating activities:    
Non-cash consideration received in licensing agreement transaction 0 (945,366)
Unrealized (gain) loss on equity investment (847,995) 348,812
Change in accrued interest and accretion of discount on marketable securities (1,139,113) (223,649)
Stock-based compensation expense 3,865,166 3,045,029
Depreciation and amortization expense 282,121 172,105
Amortization of right-of-use asset 510,601 354,185
Accretion of lease liability 573,015 368,226
Change in operating assets and liabilities:    
Prepaid expenses and other current assets (4,048,361) (230,877)
Security deposit 12,491 15,920
Accounts payable 1,810,379 (2,510,503)
Accrued expenses 928,621 (3,072,434)
Net cash used in operating activities (23,817,614) (33,375,022)
Cash flows from investing activities:    
Purchase of marketable securities (24,574,071) (79,416,203)
Sales/maturities of marketable securities 85,000,000 0
Purchase of long-term equity investment (10,000,000) 0
Issuance of convertible short-term note receivable 0 (1,000,000)
Purchases of property and equipment (21,357) (1,085,840)
Software development and other costs (109,637) (251,340)
Net cash provided by (used in) investing activities 50,294,935 (81,753,383)
Cash flows from financing activities:    
Proceeds from exercise of options and purchases from employee stock purchase plan 278,089 142,628
Net cash provided by financing activities 278,089 142,628
Net increase (decrease) in cash, cash equivalents and restricted cash 26,755,410 (114,985,777)
Cash, cash equivalents and restricted cash, at beginning of period 46,798,599 189,728,285
Cash, cash equivalents and restricted cash, at end of period 73,554,009 74,742,508
Non-cash investing and financing activities:    
Right-of-use asset in exchange for lease liability $ 0 $ 15,791,769