Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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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