v3.7.0.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 4,714,582 $ 3,806,984
Marketable securities 24,172,736 31,354,170
Prepaid expenses and other current assets 1,461,852 1,017,645
Total current assets 30,349,170 36,178,799
Property and equipment, net 1,235,593 1,281,152
Other assets 164,519 164,519
Total assets 31,749,282 37,624,470
Current liabilities:    
Accounts payable 3,017,887 1,549,845
Accrued liabilities 1,409,042 2,868,352
Total current liabilities 4,426,929 4,418,197
Deferred rent 992,076 994,439
Warrant liabilities 12,778,781 12,698,980
Total liabilities 18,197,786 18,111,616
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.0001 par value, 25,000,000 shares authorized and none outstanding at March 31, 2017 and December 31, 2016
Common stock, $0.0001 par value, 100,000,000 shares authorized; 41,656,006 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively 4,166 4,166
Additional paid-in capital 166,059,075 165,678,164
Accumulated other comprehensive loss (45,771) (51,666)
Accumulated deficit (152,465,974) (146,117,810)
Total stockholders' equity 13,551,496 19,512,854
Total liabilities and stockholders' equity $ 31,749,282 $ 37,624,470

Source

v3.7.0.1
Consolidated Statements of Operations (unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating expenses    
Research and development $ 4,201,698 $ 4,430,670
General and administrative 2,143,315 4,724,133
Total operating expenses 6,345,013 9,154,803
Loss from operations (6,345,013) (9,154,803)
Other income (expense):    
Interest income 76,650 43,371
Change in fair value of warrant liabilities (79,801) 188,270
Total other income (expense) (3,151) 231,641
Net loss $ (6,348,164) $ (8,923,162)
Per share information:    
Net loss per share of common stock, basic and diluted $ (0.15) $ (0.32)
Basic and diluted weighted average shares outstanding 41,656,006 27,483,909

Source

v3.7.0.1
Consolidated Statements of Cash Flows (unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities    
Net loss $ (6,348,164) $ (8,923,162)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 45,559 134,381
Stock-based compensation expense 380,911 1,080,806
Change in fair value of warrant liabilities 79,801 (188,270)
(Decrease) increase in deferred rent (2,363) 15,141
Net amortization of premium paid on marketable securities 95,008 133,529
Changes in operating assets and liabilities:    
(Increase) decrease in prepaid expenses and other current and non-current assets (444,208) 67,187
Increase in accounts payable and accrued liabilities 8,734 1,161,894
Net cash used in operating activities (6,184,722) (6,518,494)
Cash flows from investing activities    
Purchases of marketable securities   (1,994,030)
Proceeds from sales of marketable securities 7,092,320 6,210,000
Purchases of property and equipment   (31,611)
Net cash provided by investing activities 7,092,320 4,184,359
Cash flows from financing activities    
Net cash provided by financing activities 0 0
Net increase (decrease) in cash and cash equivalents 907,598 (2,334,135)
Cash and cash equivalents at beginning of period 3,806,984 9,972,781
Cash and cash equivalents at end of period $ 4,714,582 $ 7,638,646

Source