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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Net loss $ (20,769,250) $ (21,483,561)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 702,918 741,524
Change in fair value of earn-out milestone liability (1,622,000) 1,300,291
Fair value of warrants issued in exchange for services 44,798
Stock-based compensation 3,759,737 1,851,391
Change in deferred income tax asset 462,377 (26,499)
Impairment of goodwill and in-process research and development 1,976,101 2,370,257
Amortization of deferred finance charges and debt discount associated with note payable 237,258 447,483
Net changes in:    
Accrued interest receivable on investment securities (108,844) 21,369
Advances and deposits on clinical programs and other current assets (786,718) (308,025)
Other assets (124,728) 274,513
Accounts payable – trade 302,404 (618,102)
Deferred revenue (500,000) (500,000)
Other accrued liabilities 247,142 265,885
Net cash used in operating activities (16,223,603) (15,618,676)
Cash flows from investing activities:    
Purchases of investment in debt securities (53,811,069) (9,956,892)
Proceeds from sale and maturity of investment in debt securities 24,000,000 17,900,000
Purchases of property and equipment (311,613) (19,092)
Net cash (used in) provided by investing activities (30,122,682) 7,924,016
Cash flows from financing activities:    
Proceeds from issuance of common stock equity, net of issuance costs 52,688,946 22,811,669
Proceeds from issuance of common stock upon exercise of warrants 1,508,666
Proceeds from issuance of common stock upon exercise of stock options 4,725 371,895
Proceeds from notes payable 5,756,630
Payments on notes payable including end-of-term fees (5,190,587) (5,200,000)
Proceeds from Paycheck Protection Program (“PPP”) loans 1,324,750
Repayments on PPP loans (1,324,750)
Net cash provided by financing activities 54,768,380 17,983,564
Change in cash, cash equivalents and restricted cash 8,422,095 10,288,904
Cash, cash equivalents and restricted cash at beginning of year 17,164,177 6,875,273
Cash, cash equivalents and restricted cash at end of year 25,586,272 17,164,177
Supplemental disclosures of cash flow information:    
Interest (357,277) (844,278)
Cash paid for amounts included in measurement of lease liabilities:    
Operating cash flows from lease payments 568,269 525,809
Non-cash financing and investing activities    
Common stock issued to settle accrued bonuses 498,632
Fair value of warrants issued in connection with the debt facility, net of cancelled warrants 81,102
Realized and unrealized losses (gains), net, on investment in debt securities $ 7,974 $ (42,778)