v3.19.2
Consolidated Balance Sheets - USD ($)
Jun. 30, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 7,377,139 $ 8,320,317
Marketable securities 6,851,515 22,131,936
Prepaid expenses and other current assets 1,986,484 988,799
Total current assets 16,215,138 31,441,052
Property and equipment, net 1,195,506 1,076,099
Operating lease right-of-use assets 3,150,932  
Other assets 355,420 355,420
Total assets 20,916,996 32,872,571
Current liabilities:    
Accounts payable 1,252,198 1,427,287
Accrued liabilities 2,032,616 4,369,732
Current portion of lease liabilities 625,541
Total current liabilities 3,910,355 5,797,019
Deferred rent   679,182
Warrant liabilities 4,345,902 20,781,663
Long-term portion of lease liabilities 3,399,926
Other liabilities 72,747 72,747
Total liabilities 11,728,930 27,330,611
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.0001 par value, 25,000,000 shares authorized and none outstanding at June 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 June 30, 2019 and December 31, 2018, respectively 7,941 7,941
Additional paid-in capital 205,577,912 204,884,211
Accumulated other comprehensive income (loss) 1,996 (30,300)
Accumulated deficit (196,399,783) (199,319,892)
Total stockholders' equity 9,188,066 5,541,960
Total liabilities and stockholders' equity $ 20,916,996 $ 32,872,571

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v3.19.2
Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Operating expenses        
Research and development $ 4,804,076 $ 5,252,334 $ 8,911,216 $ 9,987,674
General and administrative 2,603,403 2,244,120 4,857,996 4,492,949
Total operating expenses 7,407,479 7,496,454 13,769,212 14,480,623
Loss from operations (7,407,479) (7,496,454) (13,769,212) (14,480,623)
Other income (expense):        
Interest income 104,441 163,145 253,560 315,392
Change in fair value of warrant liabilities (1,363,868) (12,802,583) 16,435,761 (25,077,142)
Total other income (expense) (1,259,427) (12,639,438) 16,689,321 (24,761,750)
Net income (loss) $ (8,666,906) $ (20,135,892) $ 2,920,109 $ (39,242,373)
Basic net income (loss) per share $ (0.11) $ (0.27) $ 0.04 $ (0.53)
Shares used in computing basic net income (loss) per share 79,409,556 73,658,529 79,409,556 73,657,537
Diluted net income (loss) per share $ (0.11) $ (0.27) $ 0.04 $ (0.53)
Shares used in computing diluted net income (loss) per share 79,406,556 73,658,529 79,457,926 73,657,537

Source

v3.19.2
Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities    
Net income (loss) $ 2,920,109 $ (39,242,373)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation 84,413 71,081
Stock-based compensation expense 693,701 853,814
Change in fair value of warrant liabilities (16,435,761) 25,077,142
Decrease in deferred rent   (13,526)
Net amortization of premium on marketable securities 121,592 315,673
Changes in operating assets and liabilities:    
Increase in prepaid expenses and other current and non-current assets (1,009,217) (315,653)
(Decrease) increase in accounts payable, accrued liabilities and other liabilities (2,489,141) 52,631
Net cash used in operating activities (16,114,304) (13,201,211)
Cash flows from investing activities    
Purchases of marketable securities   (11,129,302)
Proceeds from sales of marketable securities 15,191,125 21,978,888
Purchases of property and equipment (19,999) (79,276)
Net cash provided by investing activities 15,171,126 10,770,310
Cash flows from financing activities    
Proceeds from exercise of warrants   5,503
Net cash provided by financing activities   5,503
Net decrease in cash and cash equivalents (943,178) (2,425,398)
Cash and cash equivalents at beginning of period 8,320,317 6,995,046
Cash and cash equivalents at end of period 7,377,139 $ 4,569,648
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  

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