Financials

v3.7.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 14,992,257 $ 12,338,275
Restricted cash 150,000
Grants receivable 1,000,000
Stock subscriptions receivable 330,413
Prepaid expenses 930,261 376,515
Total current assets 17,402,931 12,714,790
Restricted cash 50,000 36,375
Property and equipment, net 435,251 124,138
Total assets 17,888,182 12,875,303
Current liabilities:    
Notes payable 271,757 162,019
Accounts payable 3,419,921 1,314,377
Accrued expenses 3,256,455 562,279
Deferred revenue, current 1,940,195 1,591,358
Deferred rent, current 10,263
Total current liabilities 8,898,591 3,630,033
Deferred revenue, noncurrent 260,260
Deferred rent, noncurrent 65,724
Other liabilities 4,632
Total liabilities 8,968,947 3,890,293
Stockholders' equity    
Preferred Stock $0.0001 par value:10,000,000 shares authorized, no shares issued and outstanding at December 31, 2016 and 2015
Common stock, $0.0001 par value; 150,000,000 shares authorized, 44,681,745 and 37,605,134 shares issued and outstanding at December 31, 2016 and 2015 4,468 3,761
Additional paid-in capital 42,191,256 22,259,063
Accumulated deficit (33,276,489) (13,277,814)
Total stockholders' equity 8,919,235 8,985,010
Total liabilities and stockholders' equity $ 17,888,182 $ 12,875,303

Source

v3.7.0.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Income Statement [Abstract]    
Collaboration revenue $ 1,911,424 $ 648,382
Operating expenses:    
Research and development 15,436,735 5,888,659
General and administrative 6,459,747 3,613,416
Total operating expenses 21,896,482 9,502,075
Operating loss (19,985,058) (8,853,693)
Other income (expense):    
Interest income, net 477 977
Foreign currency exchange gain (loss) (14,094) 1,977
Other income (loss), net (13,617) 2,954
Net loss $ (19,998,675) $ (8,850,739)
Net loss per share, basic and diluted $ (0.49) $ (0.28)
Weighted average number of common shares outstanding, basic and diluted 41,137,518 31,350,145

Source

v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:    
Net loss $ (19,998,675) $ (8,850,739)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 3,163,534 1,153,302
Depreciation and amortization 87,664 43,943
Loss (gain) on foreign exchange 14,094 (1,977)
Deferred rent 75,987
Changes in operating assets and liabilities:    
Increase in grants receivable (1,000,000)
Increase in prepaid expenses (553,745) (105,959)
Increase in accounts payable 1,890,876 972,194
Increase in accrued expenses 2,660,461 312,788
Increase in deferred revenue 88,577 1,851,618
Net cash used in operating activities (13,571,227) (4,624,830)
Cash flows from investing activities:    
Purchases of property and equipment (353,032) (114,037)
Net cash used in investing activities (353,032) (114,037)
Cash flows from financing activities:    
Proceeds from issuance of notes payable 348,750 207,750
Principal payments on notes payable (239,012) (190,120)
Proceeds from issuance on common stock 16,699,133 11,328,929
Issuance costs paid for common stock financings (63,830) (509,215)
Principal payments under capital lease obligations (3,175)
Net cash provided by financing activities 16,741,866 10,837,344
Net increase in cash, cash equivalents, and restricted cash 2,817,607 6,098,477
Cash, cash equivalents, and restricted cash at beginning of the year 12,374,650 6,276,173
Cash, cash equivalents, and restricted cash at end of the year 15,192,257 12,374,650
Supplemental disclosure of cash flow information and non cash transactions:    
Cash paid during the period for interest 5,586
Assets acquired under capital lease obligation 11,638
Purchases of property and equipment included in accounts payable or accrued expenses 34,107
Unpaid stock issuance costs $ 196,349

Source