Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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