Quarterly report pursuant to Section 13 or 15(d)

Significant Accounting Policies (Tables)

v3.19.3
Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2019
Accounting Policies [Abstract]  
Schedule of Cash and Cash Equivalents

Cash and cash equivalents consists of the following:

 

    September 30, 2019     December 31, 2018  
Cash   $ 5,184,555     $ 808,943  
Money market fund     49,664,810       40,939,525  
Total cash and cash equivalents   $ 54,849,365     $ 41,748,468  

Schedule of Computation of Basic and Diluted Earnings Per Share

Net loss per share was computed as follows:

 

    Three Months Ended
September 30,
    Nine Months Ended
September 30,
 
    2019     2018     2019     2018  
Basic and diluted net loss per share of common stock:                        
Net loss   $ (20,790,801 )   $ (14,601,211 )   $ (44,872,957 )   $ (38,365,947 )
Weighted average shares of common stock outstanding     64,660,017       57,218,832       63,638,447       56,917,897  
Net loss per share of common stock-basic and diluted   $ (0.32 )   $ (0.26 )   $ (0.71 )   $ (0.67 )

Schedule of Potentially Dilutive Securities Excluded from Computation of Dilutive Weighted Average Shares Outstanding

The impact of the following potentially dilutive securities outstanding as of September 30, 2019 and 2018 have been excluded from the computation of dilutive weighted average shares outstanding as the inclusion would be anti-dilutive.

 

    September 30,  
    2019     2018  
Warrants     1,000,000       2,283,500  
Stock options     12,830,887       9,434,241  
Total     13,830,887       11,717,741