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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net loss $ (38,694,264) $ (10,478,151)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 2,929 3,263
Stock-based compensation 17,586,533 1,555,867
Fair value of shares relinquished in litigation (394,410)
Realized loss on short-term investments 244,972
Unrealized gain on short-term investments (290,973)
Change in operating assets and liabilities:    
Other assets (6,092)
Lease payment receivable 54,242 49,896
Prepaid expenses (1,825,336) 524,967
Accounts payable 205,970 907,657
Accrued expenses 1,835,888 (376,157)
Net cash used in operating activities (20,880,039) (8,213,160)
Cash flows from investing activities    
Purchase of short-term investments (88,763,192)
Sale of short-term investments 53,380,266
Net cash used in investing activities (35,382,926)
Cash flows from financing activities    
Principal payments of notes payable (110,247) (223,017)
Proceeds from issuance of common stock - net 19,816,597 13,409,299
Proceeds from options exercised for common stock 636,518
Proceeds from warrants exercised for common stock 7,186,306 450,000
Net cash provided by financing activities 27,529,174 13,636,282
Net (decrease)/increase in cash and cash equivalents (28,733,791) 5,423,122
Cash and cash equivalents at beginning of the period 36,278,519 2,426,751
Cash and cash equivalents at end of the period 7,544,728 7,849,873
Cash paid during the period for:    
Income taxes
Interest 2,415 6,959
Non-cash investing and financing activities:    
Cashless exercise of warrants for common stock 43 25
Cashless exercise of options for common stock 90
Notes payable issued in connection with directors and officers insurance policies $ 364,204