v3.7.0.1
Consolidated Balance Sheets - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 4,879,136 $ 3,806,984
Marketable securities 16,829,854 31,354,170
Prepaid expenses and other current assets 2,229,897 1,017,645
Total current assets 23,938,887 36,178,799
Property and equipment, net 1,190,053 1,281,152
Other assets 164,519 164,519
Total assets 25,293,459 37,624,470
Current liabilities:    
Accounts payable 1,961,368 1,549,845
Accrued liabilities 1,669,543 2,868,352
Total current liabilities 3,630,911 4,418,197
Deferred rent 992,660 994,439
Warrant liabilities 9,581,916 12,698,980
Total liabilities 14,205,487 18,111,616
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.0001 par value, 25,000,000 shares authorized and none outstanding at June 30, 2017 and December 31, 2016
Common stock, $0.0001 par value, 200,000,000 shares and 100,000,000 shares authorized at June 30, 2017 and December 31, 2016, respectively; 41,656,006 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively 4,166 4,166
Additional paid-in capital 166,405,967 165,678,164
Accumulated other comprehensive loss (19,299) (51,666)
Accumulated deficit (155,302,862) (146,117,810)
Total stockholders' equity 11,087,972 19,512,854
Total liabilities and stockholders' equity $ 25,293,459 $ 37,624,470

Source

v3.7.0.1
Consolidated Statements of Operations (unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Operating expenses        
Research and development $ 3,757,168 $ 7,271,699 $ 7,958,867 $ 11,702,369
General and administrative 2,321,953 2,506,097 4,465,268 7,230,230
Total operating expenses 6,079,121 9,777,796 12,424,135 18,932,599
Loss from operations (6,079,121) (9,777,796) (12,424,135) (18,932,599)
Other income:        
Interest income 45,369 28,379 122,019 71,750
Change in fair value of warrant liabilities 3,196,865 70,395 3,117,064 258,665
Total other income 3,242,234 98,774 3,239,083 330,415
Net loss $ (2,836,887) $ (9,679,022) $ (9,185,052) $ (18,602,184)
Per share information:        
Net loss per share of common stock, basic and diluted $ (0.07) $ (0.35) $ (0.22) $ (0.68)
Basic and diluted weighted average shares outstanding 41,656,006 27,497,424 41,656,006 27,490,667

Source

v3.7.0.1
Consolidated Statements of Cash Flows (unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities    
Net loss $ (9,185,052) $ (18,602,184)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 91,099 268,853
Stock-based compensation expense 727,803 1,555,750
Issuance of common stock in exchange for services   93,930
Change in fair value of warrant liabilities (3,117,064) (258,665)
(Decrease) increase in deferred rent (1,779) 22,320
Net amortization of premium paid on marketable securities 319,313 267,560
Changes in operating assets and liabilities:    
Increase in prepaid expenses and other current and non-current assets (1,212,252) (308,738)
(Decrease) increase in accounts payable and accrued liabilities (787,286) 3,489,881
Net cash used in operating activities (13,165,218) (13,471,293)
Cash flows from investing activities    
Purchases of marketable securities (1,953,630) (1,994,030)
Proceeds from maturities of marketable securities 16,191,000 16,208,830
Purchases of property and equipment   (140,192)
Net cash provided by investing activities 14,237,370 14,074,608
Cash flows from financing activities    
Proceeds from exercise of warrants   16,000
Net cash provided by financing activities   16,000
Net increase (decrease) in cash and cash equivalents 1,072,152 619,315
Cash and cash equivalents at beginning of period 3,806,984 9,972,781
Cash and cash equivalents at end of period $ 4,879,136 $ 10,592,096

Source