v3.5.0.2
Consolidated Balance Sheets - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 10,665,133 $ 9,972,781
Marketable securities 32,548,493 22,948,872
Prepaid expenses and other current assets 1,147,898 1,176,895
Total current assets 44,361,524 34,098,548
Property and equipment, net 1,347,145 1,618,968
Other assets 164,519 143,621
Total assets 45,873,188 35,861,137
Current liabilities:    
Accounts payable 3,875,071 1,517,417
Accrued liabilities 2,547,176 2,251,767
Total current liabilities 6,422,247 3,769,184
Deferred rent 994,439 972,119
Warrant liabilities 19,911,240 444,324
Total liabilities 27,327,926 5,185,627
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.0001 par value, 25,000,000 shares authorized and none outstanding at September 30, 2016 and December 31, 2015
Common stock, $0.0001 par value, 100,000,000 shares authorized; 41,578,804 and 27,482,692 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively 4,158 2,748
Additional paid-in capital 165,292,323 148,282,546
Accumulated other comprehensive loss (39,040) (30,373)
Accumulated deficit (146,712,179) (117,579,411)
Total stockholders' equity 18,545,262 30,675,510
Total liabilities and stockholders' equity $ 45,873,188 $ 35,861,137

Source

v3.5.0.2
Unaudited Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Operating expenses:        
Research and development $ 5,948,026 $ 3,352,531 $ 17,650,395 $ 10,082,140
General and administrative 1,943,484 2,366,729 9,173,714 7,495,967
Total operating expenses 7,891,510 5,719,260 26,824,109 17,578,107
Loss from operations (7,891,510) (5,719,260) (26,824,109) (17,578,107)
Other income (expense):        
Interest income 54,620 29,593 126,370 128,733
Other expense (1,569,341)   (1,569,341)  
Change in fair value of warrant liabilities (1,124,353) 125,147 (865,688) (83,249)
Total other income (expense) (2,639,074) 154,740 (2,308,659) 45,484
Net loss $ (10,530,584) $ (5,564,520) $ (29,132,768) $ (17,532,623)
Per share information:        
Net loss per share of common stock, basic and diluted $ (0.28) $ (0.22) $ (0.94) $ (0.79)
Basic and diluted weighted average shares outstanding 37,446,087 25,080,838 30,833,362 22,199,992

Source

v3.5.0.2
Unaudited Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities    
Net loss $ (29,132,768) $ (17,532,623)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 385,015 403,008
Stock-based compensation expense 1,886,033 1,448,309
Issuance costs allocated to warrants 1,569,341  
Issuance of common stock in exchange for services 93,930 167,538
Change in fair value of warrant liabilities 865,688 83,249
Increase in deferred rent 22,320 44,478
Net amortization of premium paid on marketable securities 374,168 101,379
Changes in operating assets and liabilities:    
Increase (decrease) in prepaid expenses and other current and non-current assets 8,099 (577,171)
Increase (decrease) in accounts payable and accrued liabilities 2,653,063 (420,216)
Net cash used in operating activities (21,275,111) (16,282,049)
Cash flows from investing activities    
Purchases of marketable securities (32,786,486) (13,892,784)
Proceeds from maturities of marketable securities 22,804,030 6,760,535
Purchases of property and equipment (113,192)  
Net cash used in investing activities (10,095,648) (7,132,249)
Cash flows from financing activities    
Proceeds from issuance of securities 35,000,000 20,000,000
Payment of financing costs of securities sold (2,952,889) (1,665,554)
Proceeds from exercise of warrants 16,000 201,315
Net cash provided by financing activities 32,063,111 18,535,761
Net increase (decrease) in cash and cash equivalents 692,352 (4,878,537)
Cash and cash equivalents at beginning of period 9,972,781 25,722,453
Cash and cash equivalents at end of period 10,665,133 $ 20,843,916
Supplemental disclosures of cash flow information:    
Issuance of warrants to purchase common stock $ 18,601,228  

Source