Financials

v3.8.0.1
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 36,597,469 $ 14,992,257
Restricted cash 200,000 150,000
Grants receivable 500,000 1,000,000
Stock subscriptions receivable 330,413
Prepaid expenses and other current assets 719,868 930,261
Total current assets 38,017,337 17,402,931
Restricted cash 50,000
Property and equipment, net 337,297 435,251
Other assets 65,026
Total assets 38,419,660 17,888,182
Current liabilities:    
Notes payable 271,757
Accounts payable 3,776,516 3,419,921
Accrued expenses 2,558,602 3,256,455
Deferred revenue 1,940,195
Deferred rent, current 10,263
Total current liabilities 6,335,118 8,898,591
Deferred rent, noncurrent 102,561 65,724
Other liabilities 1,482 4,632
Total liabilities 6,439,161 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 September 30, 2017 and December 31, 2016
Common stock, $0.0001 par value; 150,000,000 shares authorized, 50,223,010 and 44,681,745 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively 5,022 4,468
Additional paid-in capital 86,979,888 42,191,256
Accumulated deficit (55,004,411) (33,276,489)
Total stockholders' equity 31,980,499 8,919,235
Total liabilities and stockholders' equity $ 38,419,660 $ 17,888,182

Source

v3.8.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Income Statement [Abstract]        
Collaboration revenue $ 796,312 $ 742,558 $ 2,440,195 $ 1,535,754
Operating expenses:        
Research and development 5,622,511 4,315,632 17,752,283 10,056,568
General and administrative 2,130,587 1,760,696 6,388,802 3,891,810
Total operating expenses 7,753,098 6,076,328 24,141,085 13,948,378
Operating loss (6,956,786) (5,333,770) (21,700,890) (12,412,624)
Other income (expense), net:        
Interest income, net 43,402 1,731 50,039 420
Foreign currency exchange loss (52,212) (14,729) (77,071) (16,196)
Other expense, net (8,810) (12,998) (27,032) (15,776)
Net loss $ (6,965,596) $ (5,346,768) $ (21,727,922) $ (12,428,400)
Net loss per share, basic and diluted $ (0.14) $ (0.12) $ (0.44) $ (0.31)
Weighted average number of common shares outstanding, basic and diluted 50,221,597 43,783,504 48,946,335 40,059,364

Source

v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net loss $ (21,727,922) $ (12,428,400)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 4,233,511 1,522,345
Depreciation and amortization 191,093 57,695
Unrealized loss on foreign exchange 39,492
Deferred rent 26,574
Changes in operating assets and liabilities:    
Decrease in grants receivable 500,000
Decrease in prepaid expenses 210,393 60,717
Increase in other assets (65,026)
Increase in accounts payable 517,677 1,448,004
(Decrease) increase in accrued expenses (668,286) 1,772,585
Decrease in deferred revenue (1,940,195) (535,753)
Increase in other long-term liabilities 10,205
Net cash used in operating activities (18,682,689) (8,092,602)
Cash flows from investing activities:    
Purchases of property and equipment (127,246) (257,014)
Net cash used in investing activities (127,246) (257,014)
Cash flows from financing activities:    
Principal payments on notes payable (271,757) (162,019)
Proceeds from issuance of common stock 41,378,762 15,235,283
Issuance costs paid for common stock financings (689,023)
Principal payments on capital lease obligation (2,835) (2,575)
Net cash provided by financing activities 40,415,147 15,070,689
Net increase in cash, cash equivalents, and restricted cash 21,605,212 6,721,073
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 36,797,469 19,095,723
Supplemental disclosure of cash flow information and non-cash transactions:    
Cash paid during the period for interest 10,691 3,815
Cash paid during the period for income taxes 1,877
Asset acquired under capital lease obligation 11,638
Purchases of property and equipment included in accounts payable $ 13,999

Source