v3.19.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 8,320,317 $ 6,995,046
Marketable securities 22,131,936 39,858,864
Prepaid expenses and other current assets 988,799 1,848,063
Total current assets 31,441,052 48,701,973
Property and equipment, net 1,076,099 1,093,903
Other assets 355,420 393,603
Total assets 32,872,571 50,189,479
Current liabilities:    
Accounts payable 1,427,287 1,302,431
Accrued liabilities 4,369,732 3,118,237
Total current liabilities 5,797,019 4,420,668
Deferred rent 679,182 704,240
Warrant liabilities 20,781,663 13,549,437
Other liabilities 72,747 321,689
Total liabilities 27,330,611 18,996,034
Commitments and contingencies (Note 8)
Stockholders' equity:    
Preferred stock, $0.0001 par value, 25,000,000 shares authorized and none outstanding at December 31, 2018 and 2017
Common stock, $0.0001 par value, 200,000,000 shares authorized, 79,406,556 shares issued and outstanding at December 31, 2018; 200,000,000 shares authorized, 73,656,006 shares issued and outstanding at December 31, 2017 7,941 7,366
Additional paid-in capital 204,884,211 192,896,367
Accumulated other comprehensive loss (30,300) (74,820)
Accumulated deficit (199,319,892) (161,635,468)
Total stockholders' equity 5,541,960 31,193,445
Total liabilities and stockholders' equity $ 32,872,571 $ 50,189,479

Source

v3.19.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating expenses:      
Research and development, including stock-based compensation of $626,002, $451,334 and $587,426, respectively $ 22,416,651 $ 17,314,086 $ 22,101,720
General and administrative, including stock-based compensation of $929,521, $1,171,794 and $1,644,456, respectively 8,707,774 9,249,671 11,430,526
Total operating expenses 31,124,425 26,563,757 33,532,246
Loss from operations (31,124,425) (26,563,757) (33,532,246)
Other (expense) income:      
Interest income 672,227 418,135 216,616
Other expense   (905,014) (1,569,341)
Change in fair value of warrant liabilities (7,232,226) 11,532,978 6,346,572
Total other (expense) income (6,559,999) 11,046,099 4,993,847
Net loss $ (37,684,424) $ (15,517,658) $ (28,538,399)
Per share information:      
Net loss per share of common stock, basic and diluted $ (0.50) $ (0.28) $ (0.85)
Basic and diluted weighted average shares outstanding 76,062,664 55,595,732 33,539,465

Source

v3.19.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities      
Net loss $ (37,684,424) $ (15,517,658) $ (28,538,399)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 151,292 187,249 451,008
Stock-based compensation expense 1,555,523 1,623,128 2,231,883
Issuance of common stock in exchange for services     93,930
Issuance costs allocated to warrants   905,014 1,569,341
Change in fair value of warrant and embedded derivative liabilities 7,232,226 (11,532,978) (6,346,572)
(Decrease) increase in deferred rent (25,058) (290,199) 22,320
Net amortization of premium paid on marketable securities 486,736 831,793 428,783
Changes in operating assets and liabilities:      
Decrease (increase) in prepaid expenses and other current and non-current assets 897,447 (1,059,502) 138,352
Increase in accounts payable and accrued liabilities 1,127,409 324,160 649,014
Net cash used in operating activities (26,258,849) (24,528,993) (29,300,340)
Cash flows from investing activities      
Purchases of marketable securities (23,846,176) (53,162,598) (36,459,405)
Proceeds from maturities of marketable securities 41,130,888 43,802,957 27,604,030
Purchases of property and equipment (133,488)   (113,192)
Net cash provided by (used in) investing activities 17,151,224 (9,359,641) (8,968,567)
Cash flows from financing activities      
Proceeds from issuance of equity securities 11,500,000 40,000,000 35,000,000
Payment of financing costs of securities sold (1,072,607) (2,923,304) (2,952,889)
Proceeds from exercise of warrants 5,503   55,998
Net cash provided by financing activities 10,432,896 37,076,696 32,103,109
Net increase (decrease) in cash and cash equivalents 1,325,271 3,188,062 (6,165,798)
Cash and cash equivalents at beginning of period 6,995,046 3,806,984 9,972,781
Cash and cash equivalents at end of period $ 8,320,317 6,995,046 3,806,984
Supplemental disclosures of cash flow information and non-cash investing and financing activities      
Issuance of common stock for services     93,930
Issuance of warrants to purchase common stock   $ 12,383,435 $ 18,601,228

Source