v3.10.0.1
Balance Sheets - USD ($)
Sep. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 28,551,870 $ 12,795,254
Accounts receivable 208,773 0
Prepaid expenses and other current assets 528,626 1,026,310
Prepaid rent, current 76,864 80,784
Total current assets 29,366,133 13,902,348
Property and equipment, net 1,154,996 1,413,917
Prepaid rent, non-current   56,668
Other assets 125,060 32,512
Total assets 30,646,189 15,405,445
Current liabilities:    
Accounts payable 1,819,968 2,024,690
Accrued expenses 1,918,693 1,622,025
Deferred revenue 14,500  
Total current liabilities 3,753,161 3,646,715
Commitments and contingencies
Stockholders’ equity:    
Preferred Stock, $0.00001 par value, 10,000,000 shares authorized at September 30, 2018 and December 31, 2017; no shares issued or outstanding
Common Stock, $0.00001 par value, 50,000,000 shares authorized at September 30, 2018 and December 31, 2017; 26,059,350 and 22,584,588 shares issued and outstanding at September 30, 2018 and December 31, 2017, respectively. 259 225
Additional paid-in capital 239,181,337 185,659,954
Accumulated deficit (212,288,568) (173,901,449)
Total stockholders’ equity 26,893,028 11,758,730
Total liabilities and stockholders’ equity $ 30,646,189 $ 15,405,445

Source

v3.10.0.1
Condensed Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Income Statement [Abstract]        
Revenue $ 228,000 $ 250,000 $ 458,773 $ 1,124,874
Operating expenses:        
Research and development 8,442,698 8,743,434 24,804,224 25,788,621
Sales and marketing 1,546,227 1,141,852 4,620,760 3,924,617
General and administrative 2,891,036 3,116,337 9,439,279 9,560,651
Total operating expenses 12,879,961 13,001,623 38,864,263 39,273,889
Loss from operations (12,651,961) (12,751,623) (38,405,490) (38,149,015)
Other income (expense):        
Loss on sales of property and equipment, net       (726)
Interest income 6,670 3,375 18,371 9,343
Total 6,670 3,375 18,371 8,617
Net loss $ (12,645,291) $ (12,748,248) $ (38,387,119) $ (38,140,398)
Basic and diluted loss per common share $ (0.49) $ (0.58) $ (1.50) $ (1.81)
Weighted average shares outstanding, basic and diluted 25,742,171 21,958,729 25,519,868 21,034,391

Source

v3.10.0.1
Condensed Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net loss $ (38,387,119) $ (38,140,398)
Adjustments to reconcile net loss to Net cash used in operating activities:    
Depreciation and amortization 820,714 999,396
Stock based compensation 12,804,744 12,472,870
Amortization of prepaid rent from stock issuance to landlord 60,588 60,588
Loss on sales of property and equipment, net   726
Changes in operating assets and liabilities:    
Accounts receivable (208,773) (101,000)
Prepaid expenses and other current assets 497,684 654,654
Other assets (92,548) 15,995
Accounts payable (204,722) (2,537,833)
Accrued expenses 296,668 (209,179)
Deferred revenue 14,500 (102,823)
Net cash used in operating activities (24,398,264) (26,887,004)
Cash flows from investing activities:    
Purchases of property and equipment (561,793) (517,947)
Proceeds from sales of property and equipment   2,800
Net cash used in investing activities (561,793) (515,147)
Cash flows from financing activities:    
Net proceeds from the sales of common stock 38,846,815 14,932,547
Proceeds from the exercise of stock options 1,319,461 738,552
Proceeds from contributions to employee stock purchase plan 550,397 696,274
Net cash provided by financing activities 40,716,673 16,367,373
Net increase (decrease) in cash and cash equivalents 15,756,616 (11,034,778)
Cash and cash equivalents - beginning 12,795,254 31,258,637
Cash and cash equivalents - ending 28,551,870 20,223,859
Restricted Stock Units (RSUs) [Member]    
Supplemental disclosure of non-cash financing activities:    
Common stock issued 7 $ 6
Performance Shares [Member]    
Supplemental disclosure of non-cash financing activities:    
Common stock issued $ 1  

Source