Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF CASH FLOWS

v3.5.0.2
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net loss $ (31,206,160) $ (18,677,522)
Adjustments to reconcile net loss to:    
Depreciation and amortization 628,613 617,517
Stock based compensation 5,405,908 4,306,435
Amortization of prepaid rent from stock issuance to landlord 60,588 60,588
Changes in operating assets and liabilities:    
Accounts receivable (625,000) (2,000,000)
Prepaid expenses and other current assets (484,284) (4,338)
Other assets 2,823 (16,283)
Accounts payable 948,700 58,591
Accrued expenses 717,002 194,945
Deferred revenue 112,245 0
Net cash used in operating activities (24,439,565) (15,460,067)
Cash flows used in investing activities:    
Purchases of property and equipment (858,445) (732,634)
Net cash used in investing activities (858,445) (732,634)
Cash flows from financing activities:    
Net proceeds from issuance of shares to a private investor 19,890,660 0
Proceeds from the exercise of stock options 270,716 25,876
Proceeds from contributions to employee stock purchase plan 533,005 169,811
Proceeds from the disgorgement of short-swing profit 0 12,611
Net cash provided by financing activities 20,381,701 208,298
Net decrease in cash and cash equivalents (4,916,309) (15,984,403)
Cash and cash equivalents - beginning 29,872,564 31,494,592
Cash and cash equivalents - ending 24,956,255 15,510,189
Stock Compensation Plan [Member]    
Supplemental disclosure of non-cash financing activities:    
Common stock issued for services 0 147,900
Restricted Stock Units (RSUs) [Member]    
Cash flows from financing activities:    
Shares repurchased for tax withholdings on vested stock units (266,217) 0
Supplemental disclosure of non-cash financing activities:    
Common stock issued 4 2
Performance Shares [Member]    
Cash flows from financing activities:    
Shares repurchased for tax withholdings on vested stock units (46,463)  
Supplemental disclosure of non-cash financing activities:    
Common stock issued $ 1 $ 0