v3.10.0.1
Consolidated Balance Sheets - USD ($)
Sep. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 10,955,352 $ 6,995,046
Marketable securities 26,645,137 39,858,864
Prepaid expenses and other current assets 1,803,381 1,848,063
Total current assets 39,403,870 48,701,973
Property and equipment, net 1,117,128 1,093,903
Other assets 355,420 393,603
Total assets 40,876,418 50,189,479
Current liabilities:    
Accounts payable 2,508,770 1,302,431
Accrued liabilities 2,931,501 3,118,237
Total current liabilities 5,440,271 4,420,668
Deferred rent 684,948 704,240
Warrant liabilities 35,379,814 13,549,437
Other liabilities 72,747 321,689
Total liabilities 41,577,780 18,996,034
Commitments and contingencies
Stockholders' (deficit) equity:    
Preferred stock, $0.0001 par value, 25,000,000 shares authorized and none outstanding at September 30, 2018 and December 31, 2017
Common stock, $0.0001 par value, 200,000,000 shares authorized; 79,409,556 and 73,656,006 shares issued and outstanding at September 30, 2018 and December 31, 2017, respectively 7,941 7,366
Additional paid-in capital 204,565,660 192,896,367
Accumulated other comprehensive loss (19,375) (74,820)
Accumulated deficit (205,255,588) (161,635,468)
Total stockholders' (deficit) equity (701,362) 31,193,445
Total liabilities and stockholders' equity $ 40,876,418 $ 50,189,479

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v3.10.0.1
Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Operating expenses        
Research and development $ 5,710,455 $ 4,934,788 $ 15,698,129 $ 12,893,655
General and administrative 2,088,835 1,800,400 6,581,784 6,265,668
Total operating expenses 7,799,290 6,735,188 22,279,913 19,159,323
Loss from operations (7,799,290) (6,735,188) (22,279,913) (19,159,323)
Other income (expense):        
Interest income 174,778 123,960 490,170 245,979
Other expense 0 (905,014) 0 (905,014)
Change in fair value of warrant liabilities 3,246,765 5,941,144 (21,830,377) 9,058,208
Total other income (expense) 3,421,543 5,160,090 (21,340,207) 8,399,173
Net loss $ (4,377,747) $ (1,575,098) $ (43,620,120) $ (10,760,150)
Per share information:        
Net loss per share of common stock, basic and diluted $ (0.06) $ (0.02) $ (0.58) $ (0.22)
Basic and diluted weighted average shares outstanding 77,447,599 64,960,354 74,934,774 49,509,486

Source

v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities    
Net loss $ (43,620,120) $ (10,760,150)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 110,263 133,014
Stock-based compensation expense 1,236,972 1,087,179
Issuance costs allocated to warrants 0 905,014
Change in fair value of warrant liabilities 21,830,377 (9,058,208)
Decrease in deferred rent (19,292) (290,199)
Net amortization of premium on marketable securities 406,211 547,266
Changes in operating assets and liabilities:    
Decrease (increase) in prepaid expenses and other current and non-current assets 82,865 (241,876)
Increase (decrease) in accounts payable, accrued liabilities and other liabilities 770,661 (1,488,485)
Net cash used in operating activities (19,202,063) (19,166,445)
Cash flows from investing activities    
Purchases of marketable securities (20,267,927) (45,656,691)
Proceeds from sales of marketable securities 33,130,888 28,236,959
Purchases of property and equipment (133,488)  
Net cash provided by (used in) investing activities 12,729,473 (17,419,732)
Cash flows from financing activities    
Proceeds from issuance of securities 11,500,000 40,000,000
Payment of financing costs of securities sold (1,072,607) (2,923,304)
Proceeds from exercise of warrants 5,503  
Net cash provided by financing activities 10,432,896 37,076,696
Net increase in cash and cash equivalents 3,960,306 490,519
Cash and cash equivalents at beginning of period 6,995,046 3,806,984
Cash and cash equivalents at end of period 10,955,352 4,297,503
Supplemental disclosures of cash flow information:    
Issuance of warrants to purchase common stock $ 0 $ 12,383,435

Source