Financials

v3.8.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 62,537,495 $ 14,992,257
Restricted cash 158,991 150,000
Grants receivable 1,000,000
Stock subscriptions receivable 330,413
Prepaid expenses and other current assets 2,808,244 930,261
Total current assets 65,504,730 17,402,931
Restricted cash 50,000
Property and equipment, net 1,432,655 435,251
Other assets 40,776
Total assets 66,978,161 17,888,182
Current liabilities:    
Notes payable 332,861 271,757
Accounts payable 3,130,295 3,419,921
Accrued expenses 4,741,519 3,256,455
Deferred revenue, current 1,940,195
Deferred rent, current 10,263
Total current liabilities 8,204,675 8,898,591
Deferred rent, noncurrent 989,550 65,724
Other liabilities 375 4,632
Total liabilities 9,194,600 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 December 31, 2017 and 2016
Common stock, $0.0001 par value; 150,000,000 shares authorized at December 31, 2017 and 2016, 55,603,427 and 44,681,745 shares issued and outstanding at December 31, 2017 and 2016, respectively 5,560 4,468
Additional paid-in capital 123,476,102 42,191,256
Accumulated deficit (65,698,101) (33,276,489)
Total stockholders' equity 57,783,561 8,919,235
Total liabilities and stockholders' equity $ 66,978,161 $ 17,888,182

Source

v3.8.0.1
Consolidated Statements of Operations - USD ($)
3 Months Ended 12 Months Ended
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Income Statement [Abstract]                      
Revenue from awards $ 796,312 $ 350,186 $ 1,293,697 $ 375,670 $ 742,558 $ 396,598 $ 396,598 $ 2,440,195 $ 1,911,424 $ 648,382
Operating expenses:                      
Research and development 8,286,682 5,622,511 5,763,660 6,366,112 5,380,167 4,315,632 3,567,003 2,173,933 26,038,965 15,436,735 5,888,659
General and administrative 2,575,244 2,130,587 1,878,090 2,380,125 2,567,937 1,760,696 1,021,225 1,109,889 8,964,046 6,459,747 3,613,416
Total operating expenses 10,861,926 7,753,098 7,641,750 8,746,237 7,948,104 6,076,328 4,588,228 3,283,822 35,003,011 21,896,482 9,502,075
Operating loss (10,861,926) (6,956,786) (7,291,564) (7,452,540) (7,572,434) (5,333,770) (4,191,630) (2,887,224) (32,562,816) (19,985,058) (8,853,693)
Other income (expense):                      
Interest income, net 133,073 43,402 5,271 1,366 57 1,731 4,049 (5,360) 183,112 477 977
Foreign currency exchange gain (loss) 35,163 (52,212) (10,594) (14,265) 2,102 (14,729) (1,810) 343 (41,908) (14,094) 1,977
Other income (expense), net 168,236 (8,810) (5,323) (12,899) 2,159 (12,998) 2,239 (5,017) 141,204 (13,617) 2,954
Net loss $ (10,693,690) $ (6,965,596) $ (7,296,887) $ (7,465,439) $ (7,570,275) $ (5,346,768) $ (4,189,391) $ (2,892,241) $ (32,421,612) $ (19,998,675) $ (8,850,739)
Net loss per share, basic and diluted $ (0.20) $ (0.14) $ (0.15) $ (0.16) $ (0.17) $ (0.12) $ (0.11) $ (0.08) $ (0.65) $ (0.49) $ (0.28)
Weighted average number of common shares outstanding, basic and diluted 53,828,680 50,221,597 50,193,726 46,381,482 44,348,543 43,783,504 38,748,452 37,605,210 50,176,953 41,137,518 31,350,145

Source

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net loss $ (32,421,612) $ (19,998,675) $ (8,850,739)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation expense 5,694,489 3,163,534 1,153,302
Depreciation and amortization 255,652 87,664 43,943
(Gain) loss on foreign exchange (8,490) 14,094 (1,977)
Deferred rent 913,563 75,987
Changes in operating assets and liabilities:      
Decrease (increase) in grants receivable 1,000,000 (1,000,000)
Increase in prepaid expenses and other current assets (1,877,983) (553,745) (105,959)
Increase in other assets (40,776)
(Decrease) increase in accounts payable (885,797) 1,890,876 972,194
Increase in accrued expenses 1,514,521 2,660,461 312,788
(Decrease) increase in deferred revenue (1,940,195) 88,577 1,851,618
Net cash used in operating activities (27,796,628) (13,571,227) (4,624,830)
Cash flows from investing activities:      
Purchases of property and equipment (707,429) (353,032) (114,037)
Net cash used in investing activities (707,429) (353,032) (114,037)
Cash flows from financing activities:      
Proceeds from issuance of notes payable 415,265 348,750 207,750
Principal payments on notes payable (354,161) (239,012) (190,120)
Proceeds from issuance of common stock 78,891,699 16,699,133 11,328,929
Issuance costs paid for common stock financings (2,940,685) (63,830) (509,215)
Principal payments under capital lease obligations (3,832) (3,175)
Net cash provided by financing activities 76,008,286 16,741,866 10,837,344
Net increase in cash, cash equivalents, and restricted cash 47,504,229 2,817,607 6,098,477
Cash, cash equivalents, and restricted cash at beginning of the year 15,192,257 12,374,650 6,276,173
Cash, cash equivalents, and restricted cash at end of the year 62,696,486 15,192,257 12,374,650
Supplemental disclosure of cash flow information and non cash transactions:      
Cash paid during the period for interest 12,377 5,586
Assets acquired under capital lease obligation 11,638
Purchases of property and equipment included in accounts payable or accrued expenses 579,734 34,107
Unpaid stock issuance costs $ 225,501 $ 196,349

Source