v3.10.0.1
Consolidated Balance Sheets - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 4,569,648 $ 6,995,046
Marketable securities 28,724,373 39,858,864
Prepaid expenses and other current assets 2,201,899 1,848,063
Total current assets 35,495,920 48,701,973
Property and equipment, net 1,102,098 1,093,903
Other assets 355,420 393,603
Total assets 36,953,438 50,189,479
Current liabilities:    
Accounts payable 1,094,997 1,302,431
Accrued liabilities 3,627,244 3,118,237
Total current liabilities 4,722,241 4,420,668
Deferred rent 690,714 704,240
Warrant liabilities 38,626,579 13,549,437
Other liabilities 72,747 321,689
Total liabilities 44,112,281 18,996,034
Commitments and contingencies
Stockholders' (deficit) equity:    
Preferred stock, $0.0001 par value, 25,000,000 shares authorized and none outstanding at June 30, 2018 and December 31, 2017
Common stock, $0.0001 par value, 200,000,000 shares authorized; 73,659,556 and 73,656,006 shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively 7,366 7,366
Additional paid-in capital 193,755,684 192,896,367
Accumulated other comprehensive loss (44,052) (74,820)
Accumulated deficit (200,877,841) (161,635,468)
Total stockholders' (deficit) equity (7,158,843) 31,193,445
Total liabilities and stockholders' equity $ 36,953,438 $ 50,189,479

Source

v3.10.0.1
Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Operating expenses        
Research and development $ 5,252,334 $ 3,757,168 $ 9,987,674 $ 7,958,867
General and administrative 2,244,120 2,321,953 4,492,949 4,465,268
Total operating expenses 7,496,454 6,079,121 14,480,623 12,424,135
Loss from operations (7,496,454) (6,079,121) (14,480,623) (12,424,135)
Other (expense) income:        
Interest income 163,145 45,369 315,392 122,019
Change in fair value of warrant liabilities (12,802,583) 3,196,865 (25,077,142) 3,117,064
Total other (expense) income (12,639,438) 3,242,234 (24,761,750) 3,239,083
Net loss $ (20,135,892) $ (2,836,887) $ (39,242,373) $ (9,185,052)
Per share information:        
Net loss per share of common stock, basic and diluted $ (0.27) $ (0.07) $ (0.53) $ (0.22)
Basic and diluted weighted average shares outstanding 73,658,529 41,656,006 73,657,537 41,656,006

Source

v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities    
Net loss $ (39,242,373) $ (9,185,052)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 71,081 91,099
Stock-based compensation expense 853,814 727,803
Change in fair value of warrant liabilities 25,077,142 (3,117,064)
Decrease in deferred rent (13,526) (1,779)
Net amortization of premium on marketable securities 315,673 319,313
Changes in operating assets and liabilities:    
Increase in prepaid expenses and other current and non-current assets (315,653) (1,212,252)
Increase (decrease) in accounts payable, accrued liabilities and other liabilities 52,631 (787,286)
Net cash used in operating activities (13,201,211) (13,165,218)
Cash flows from investing activities    
Purchases of marketable securities (11,129,302) (1,953,630)
Proceeds from sales of marketable securities 21,978,888 16,191,000
Purchases of property and equipment (79,276)  
Net cash provided by investing activities 10,770,310 14,237,370
Cash flows from financing activities    
Proceeds from exercise of warrants 5,503  
Net cash provided by financing activities 5,503  
Net (decrease) increase in cash and cash equivalents (2,425,398) 1,072,152
Cash and cash equivalents at beginning of period 6,995,046 3,806,984
Cash and cash equivalents at end of period $ 4,569,648 $ 4,879,136

Source