v3.19.3
Consolidated Balance Sheets - USD ($)
Sep. 30, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 10,501,589 $ 8,320,317
Marketable securities   22,131,936
Prepaid expenses and other current assets 2,340,520 988,799
Total current assets 12,842,109 31,441,052
Property and equipment, net 1,147,727 1,076,099
Operating lease right-of-use assets 3,098,179  
Other assets 355,420 355,420
Total assets 17,443,435 32,872,571
Current liabilities:    
Accounts payable 4,373,643 1,427,287
Accrued liabilities 2,657,354 4,369,732
Current portion of lease liabilities 628,676  
Total current liabilities 7,659,673 5,797,019
Deferred rent   679,182
Warrant liabilities 2,159,192 20,781,663
Long-term portion of lease liabilities 3,332,866  
Other liabilities 72,747 72,747
Total liabilities 13,224,478 27,330,611
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.0001 par value, 25,000,000 shares authorized and none outstanding at September 30, 2019 and December 31, 2018
Common stock, $0.0001 par value, 200,000,000 shares authorized; 79,409,556 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively 7,941 7,941
Additional paid-in capital 205,969,917 204,884,211
Accumulated other comprehensive loss   (30,300)
Accumulated deficit (201,758,901) (199,319,892)
Total stockholders' equity 4,218,957 5,541,960
Total liabilities and stockholders' equity $ 17,443,435 $ 32,872,571

Source

v3.19.3
Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Operating expenses        
Research and development $ 5,250,327 $ 5,710,455 $ 14,161,543 $ 15,698,129
General and administrative 2,376,248 2,088,835 7,234,244 6,581,784
Total operating expenses 7,626,575 7,799,290 21,395,787 22,279,913
Loss from operations (7,626,575) (7,799,290) (21,395,787) (22,279,913)
Other income (expense):        
Interest income, net 80,747 174,778 334,307 490,170
Change in fair value of warrant liabilities 2,186,710 3,246,765 18,622,471 (21,830,377)
Total other income (expense) 2,267,457 3,421,543 18,956,778 (21,340,207)
Net loss $ (5,359,118) $ (4,377,747) $ (2,439,009) $ (43,620,120)
Basic and diluted net loss per share $ (0.07) $ (0.06) $ (0.03) $ (0.58)
Shares used in computing basic and diluted net loss per share 79,409,556 77,447,599 79,409,556 74,934,774

Source

v3.19.3
Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities    
Net loss $ (2,439,009) $ (43,620,120)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 126,786 110,263
Stock-based compensation expense 1,085,706 1,236,972
Change in fair value of warrant liabilities (18,622,471) 21,830,377
Decrease in deferred rent   (19,292)
Net amortization of premium on marketable securities 171,111 406,211
Changes in operating assets and liabilities:    
(Increase) decrease in prepaid expenses and other current and non-current assets (1,369,019) 82,865
Increase in accounts payable, accrued liabilities and other liabilities 1,257,043 770,661
Net cash used in operating activities (19,789,854) (19,202,063)
Cash flows from investing activities    
Purchases of marketable securities   (20,267,927)
Proceeds from sales of marketable securities 21,991,125 33,130,888
Purchases of property and equipment (19,999) (133,488)
Net cash provided by investing activities 21,971,126 12,729,473
Cash flows from financing activities    
Proceeds from issuance of securities   11,500,000
Payment of financing costs of securities sold   (1,072,607)
Proceeds from exercise of warrants   5,503
Net cash provided by financing activities   10,432,896
Net increase in cash and cash equivalents 2,181,272 3,960,306
Cash and cash equivalents at beginning of period 8,320,317 6,995,046
Cash and cash equivalents at end of period 10,501,589 $ 10,955,352
Supplemental disclosures of cash flow information:    
Right-of-use assets obtained in exchange for lease obligations 4,148,672  
Leasehold improvement obtained in exchange for lease incentive obligations $ 189,227  

Source