v3.8.0.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 3,470,519 $ 6,995,046
Marketable securities 36,379,938 39,858,864
Prepaid expenses and other current assets 1,817,132 1,848,063
Total current assets 41,667,589 48,701,973
Property and equipment, net 1,138,824 1,093,903
Other assets 355,420 393,603
Total assets 43,161,833 50,189,479
Current liabilities:    
Accounts payable 1,520,892 1,302,431
Accrued liabilities 2,402,055 3,118,237
Total current liabilities 3,922,947 4,420,668
Deferred rent 696,481 704,240
Warrant liabilities 25,823,996 13,549,437
Other liabilities 206,689 321,689
Total liabilities 30,650,113 18,996,034
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.0001 par value, 25,000,000 shares authorized and none outstanding at March 31, 2018 and December 31, 2017
Common stock, $0.0001 par value, 200,000,000 shares authorized; 73,658,506 and 73,656,006 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively 7,366 7,366
Additional paid-in capital 193,337,923 192,896,367
Accumulated other comprehensive loss (91,620) (74,820)
Accumulated deficit (180,741,949) (161,635,468)
Total stockholders' equity 12,511,720 31,193,445
Total liabilities and stockholders' equity $ 43,161,833 $ 50,189,479

Source

v3.8.0.1
Consolidated Statements of Operations - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating expenses    
Research and development $ 4,735,340 $ 4,201,698
General and administrative 2,248,829 2,143,315
Total operating expenses 6,984,169 6,345,013
Loss from operations (6,984,169) (6,345,013)
Other income (expense):    
Interest income 152,247 76,650
Change in fair value of warrant liabilities (12,274,559) (79,801)
Total other expense (12,122,312) (3,151)
Net loss $ (19,106,481) $ (6,348,164)
Per share information:    
Net loss per share of common stock, basic and diluted $ (0.26) $ (0.15)
Basic and diluted weighted average shares outstanding 73,656,534 41,656,006

Source

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities    
Net loss $ (19,106,481) $ (6,348,164)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 34,355 45,559
Stock-based compensation expense 437,681 380,911
Change in fair value of warrant liabilities 12,274,559 79,801
Decrease in deferred rent (7,759) (2,363)
Net amortization of premium on marketable securities 100,994 95,008
Changes in operating assets and liabilities:    
Decrease (increase) in prepaid expenses and other current and non-current assets 69,114 (444,208)
(Decrease) increase in accounts payable, accrued liabilities and other liabilities (612,721) 8,734
Net cash used in operating activities (6,810,258) (6,184,722)
Cash flows from investing activities    
Purchases of marketable securities (3,603,756)  
Proceeds from sales of marketable securities 6,964,888 7,092,320
Purchases of property and equipment (79,276)  
Net cash provided by investing activities 3,281,856 7,092,320
Cash flows from financing activities    
Proceeds from exercise of warrants 3,875  
Net cash provided by financing activities 3,875  
Net (decrease) increase in cash and cash equivalents (3,524,527) 907,598
Cash and cash equivalents at beginning of period 6,995,046 3,806,984
Cash and cash equivalents at end of period $ 3,470,519 $ 4,714,582

Source