Financials

v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 48,927,125 $ 14,992,257
Restricted cash 150,000 150,000
Grants receivable 1,000,000
Stock subscriptions receivable 330,413
Prepaid expenses 1,070,441 930,261
Total current assets 50,147,566 17,402,931
Restricted cash 50,000 50,000
Property and equipment, net 409,786 435,251
Total assets 50,607,352 17,888,182
Current liabilities:    
Notes payable 155,726 271,757
Accounts payable 3,266,729 3,419,921
Accrued expenses 2,874,118 3,256,455
Deferred revenue, current 646,498 1,940,195
Deferred rent, current 12,433 10,263
Total current liabilities 6,955,504 8,898,591
Deferred rent, noncurrent 62,182 65,724
Other liabilities 3,609 4,632
Total liabilities 7,021,295 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 March 31, 2017 and December 31, 2016
Common stock, $0.0001 par value; 150,000,000 shares authorized, 50,143,742 and 44,681,745 shares issued and outstanding at March 31, 2017 and December 31, 2016 5,014 4,468
Additional paid-in capital 84,322,971 42,191,256
Accumulated deficit (40,741,928) (33,276,489)
Total stockholders' equity 43,586,057 8,919,235
Total liabilities and stockholders' equity $ 50,607,352 $ 17,888,182

Source

v3.7.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Income Statement [Abstract]    
Collaboration revenue $ 1,293,697 $ 396,598
Operating expenses:    
Research and development 6,366,112 2,173,933
General and administrative 2,380,125 1,109,889
Total operating expenses 8,746,237 3,283,822
Operating loss (7,452,540) (2,887,224)
Other income (expense):    
Interest income (expense), net 1,366 (5,360)
Foreign currency exchange (loss) gain, net (14,265) 343
Other expense, net (12,899) (5,017)
Net loss $ (7,465,439) $ (2,892,241)
Net loss per share, basic and diluted $ (0.16) $ (0.08)
Weighted average number of common shares outstanding, basic and diluted 46,381,482 37,605,210

Source

v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net loss $ (7,465,439) $ (2,892,241)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 1,583,156 311,238
Depreciation and amortization 31,489 17,285
Loss (gain) on foreign exchange 14,265 (343)
Deferred rent (1,372)
Changes in operating assets and liabilities:    
Decrease in grants receivable 1,000,000
Increase in prepaid expenses (140,181) (98,045)
Increase (decrease) in accounts payable 191 (196,305)
(Decrease) increase in accrued expenses (364,557) 732,136
Decrease in deferred revenue (1,293,697) (396,598)
Increase in other long-term liabilities 7,905
Net cash used in operating activities (6,636,145) (2,514,968)
Cash flows from investing activities:    
Purchases of property and equipment (40,131) (65,322)
Net cash used in investing activities (40,131) (65,322)
Cash flows from financing activities:    
Principal payments on notes payable (116,031) (69,061)
Proceeds from issuance of common stock 41,349,957
Issuance costs paid for common stock financings (621,862)
Principal payments under capital lease obligation (920) (1,119)
Net cash provided by (used in) financing activities 40,611,144 (70,180)
Net increase (decrease) in cash, cash equivalents, and restricted cash 33,934,868 (2,650,470)
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 49,127,125 9,724,180
Supplemental disclosure of cash flow information and non-cash transactions:    
Cash paid during the period for interest 1,527 6,430
Stock issuance costs included in accounts payable or accrued expenses 44,926
Asset acquired under capital lease obligation 11,638
Purchases of property and equipment included in accounts payable or accrued expenses $ 112,720

Source