Financials

v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 43,032,762 $ 14,992,257
Restricted cash 150,000 150,000
Grants receivable 1,000,000
Stock subscriptions receivable 330,413
Prepaid expenses and other current assets 844,855 930,261
Total current assets 44,027,617 17,402,931
Restricted cash 50,000 50,000
Property and equipment, net 418,508 435,251
Other assets 65,026
Total assets 44,561,151 17,888,182
Current liabilities:    
Notes payable 39,041 271,757
Accounts payable 3,859,863 3,419,921
Accrued expenses 2,705,744 3,256,455
Deferred revenue 296,311 1,940,195
Deferred rent, current 12,866 10,263
Total current liabilities 6,913,825 8,898,591
Deferred rent, noncurrent 58,206 65,724
Other liabilities 2,559 4,632
Total liabilities 6,974,590 8,968,947
Commitments and Contingencies
Stockholders’ equity    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized, no shares issued and outstanding at June 30, 2017 and December 31, 2016
Common stock, $0.0001 par value; 150,000,000 shares authorized, 50,220,510 and 44,681,745 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively 5,022 4,468
Additional paid-in capital 85,620,354 42,191,256
Accumulated deficit (48,038,815) (33,276,489)
Total stockholders’ equity 37,586,561 8,919,235
Total liabilities and stockholders’ equity $ 44,561,151 $ 17,888,182

Source

v3.7.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Income Statement [Abstract]        
Collaboration revenue $ 350,186 $ 396,598 $ 1,643,883 $ 793,196
Operating expenses:        
Research and development 5,763,660 3,567,003 12,129,772 5,740,936
General and administrative 1,878,090 1,021,225 4,258,215 2,131,114
Total operating expenses 7,641,750 4,588,228 16,387,987 7,872,050
Operating loss (7,291,564) (4,191,630) (14,744,104) (7,078,854)
Other income (expense), net:        
Interest income (expense), net 5,271 4,049 6,637 (1,311)
Foreign currency exchange loss (10,594) (1,810) (24,859) (1,467)
Other income (expense), net (5,323) 2,239 (18,222) (2,778)
Net loss $ (7,296,887) $ (4,189,391) $ (14,762,326) $ (7,081,632)
Net loss per share, basic and diluted $ (0.15) $ (0.11) $ (0.31) $ (0.19)
Weighted average number of common shares outstanding, basic and diluted 50,193,726 38,748,452 48,298,135 38,176,831

Source

v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net loss $ (14,762,326) $ (7,081,632)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 2,882,227 694,249
Depreciation and amortization 64,452 37,230
Loss on foreign exchange 24,859
Deferred rent (4,915)
Changes in operating assets and liabilities:    
Decrease in grants receivable 1,000,000
Decrease in prepaid expenses 85,406 101,596
Increase in other assets (65,026)
Increase in accounts payable 589,421 642,156
(Decrease) increase in accrued expenses (521,037) 1,349,105
Decrease in deferred revenue (1,643,883) (793,196)
Increase in other long-term liabilities 8,913
Net cash used in operating activities (12,350,822) (5,041,579)
Cash flows from investing activities:    
Purchases of property and equipment (81,816) (187,151)
Net cash used in investing activities (81,816) (187,151)
Cash flows from financing activities:    
Principal payments on notes payable (232,716) (138,685)
Proceeds from issuance of common stock 41,370,512 15,055,841
Issuance costs paid for common stock financings (662,788)
Principal payments on capital lease obligation (1,865) (1,694)
Net cash provided by financing activities 40,473,143 14,915,462
Net increase in cash, cash equivalents, and restricted cash 28,040,505 9,686,732
Cash, cash equivalents, and restricted cash at beginning of the period 15,192,257 12,374,650
Cash, cash equivalents, and restricted cash at end of the period 43,232,762 22,061,382
Supplemental disclosure of cash flow information and non-cash transactions:    
Cash paid during the period for interest 2,562 3,489
Cash paid during the period for income taxes 1,877
Stock issuance costs included in accounts payable or accrued expenses 26,235
Asset acquired under capital lease obligation 11,638
Purchases of property and equipment included in accounts payable $ 5,477

Source