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Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net loss $ (18,959,268) $ (10,397,367)
Non-cash adjustments reconciling net loss to operating cash flows:    
Depreciation 36,428 3,491
Stock-based compensation 542,582 344,712
Non-cash operating lease cost (125,517) (19,914)
Changes in operating assets and liabilities:    
Other receivables 341,650 (6,802)
Prepaid expenses 18,682 (367,409)
Other non-current assets 118,044 138,719
Accounts payable 472,124 (107,463)
Accrued expenses 355,395 905,236
Deferred grant funding 158,704 0
Deferred license revenue 1,000,000 0
Net cash used in operating activities (16,041,176) (9,506,797)
Investing activities:    
Purchases of property and equipment (15,246) 0
Net cash used in investing activities (15,246) 0
Financing activities:    
Net proceeds from issuance of common stock 14,522,645 5,151,702
Proceeds from the exercise of common stock warrants 1,785,980 0
Proceeds from the exercise of stock options 1 0
Proceeds from issuance of note payable 367,285 0
Net cash provided by financing activities 16,675,911 5,151,702
Effect of exchange rate changes on cash and cash equivalents (10,182) (15,674)
Net change in cash and cash equivalents 609,307 (4,370,769)
Cash and cash equivalents, beginning of period 4,780,107 6,805,889
Cash and cash equivalents, end of period 5,389,414 2,435,120
Supplemental disclosure of non-cash operating and financing activities:    
Operating right-of-use assets obtained in exchange for new operating lease liabilities 0 231,698
Issuance cost on equity paid in common stock 291,428 0
Deemed dividend from trigger of down round provision feature $ 6,863 $ 789,594