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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Cash flows from operating activities:          
Net loss $ (5,410,544) $ (8,071,596) $ (16,547,944) $ (18,471,409)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization     542,740 572,065  
Change in fair value of earn-out milestone liability 257,000 1,099,721 327,000 1,397,291  
Recognition of deferred revenue     (375,000) (375,000)  
Stock-based compensation costs     3,073,569 1,448,202  
Deferred income tax asset     1,845,823 1,819,324  
Impairment of in-process research and development 2,370,257 2,370,257  
Amortization of deferred finance charges and debt discount associated with notes payable     191,571 439,786  
Fair value of warrants issued in exchange for services     44,798  
Net changes in:          
Accrued interest on investment securities     (38,404) 21,369  
Advances, deposits, and other current assets     (552,567) (286,991)  
Accounts payable and accrued liabilities     397,701 (866,748)  
Net cash used in operating activities     (11,135,511) (11,887,056)  
Cash flows from investing activities:          
Purchases of investment securities     (40,862,225) (9,956,892)  
Proceeds from sale and maturity of investment securities     12,000,000 17,900,000  
Purchases of property and equipment     (285,971) (13,918)  
Net cash (used in) provided by investing activities     (29,148,196) 7,929,190  
Cash flows from financing activities:          
Proceeds from sale of common stock equity, net of issuance costs     52,688,945 20,250,426  
Proceeds from issuance of common stock upon conversion of stock warrants     1,508,666  
Proceeds from issuance of common stock upon conversion of stock options     4,725 371,895  
Proceeds from the SVB Loan Facility, net of issuance costs     5,756,630  
Payoff of the Horizon Credit Agreement and accrued end of term fees     (5,190,587) (5,200,000)  
Proceeds from Payroll Protection Program (PPP) loans     1,324,750  
Repayments on Payroll Protection Program (PPP) loans     (1,324,750)  
Net cash provided by financing activities     54,768,379 15,422,321  
Change in cash, cash equivalents and restricted cash     14,484,672 11,464,455  
Cash, cash equivalents and restricted cash at beginning of period     17,164,177 6,875,273 $ 6,875,273
Cash, cash equivalents and restricted cash at end of period $ 31,648,849 $ 18,339,728 31,648,849 18,339,728 $ 17,164,177
Supplemental disclosures of cash flow information:          
Interest paid     (307,985) (685,913)  
Cash paid for amounts included in measurement of lease liabilities:          
Operating cash flows from lease payments     418,696 393,947  
Common stock issued to settle accrued bonuses     498,632  
Fair value of warrants issued in connection with debt facility, net of cancelled warrants     81,102  
Realized and unrealized gains (losses), net, on investment securities     $ 2,139 $ (42,778)