Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF CASH FLOWS

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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net loss $ (25,392,150) $ (21,081,098)
Adjustments to reconcile net loss to Net cash used in operating activities:    
Depreciation and amortization 681,985 374,572
Stock based compensation 7,904,154 3,545,211
Amortization of prepaid rent from stock issuance to landlord 40,392 40,392
Loss on sales of property and equipment, net 726 0
Changes in operating assets and liabilities:    
Accounts receivable (101,000) (30,000)
Prepaid expenses and other current assets 555,285 (97,334)
Other assets 9,619 2,823
Accounts payable (2,329,892) 931,282
Accrued expenses (222,299) 155,493
Deferred revenue (102,823) 211,818
Net cash used in operating activities (18,956,003) (15,946,841)
Cash flows used in investing activities:    
Purchases of property and equipment (420,193) (325,732)
Proceeds from the sale of property and equipment 2,800 0
Net cash used in investing activities (417,393) (325,732)
Cash flows from financing activities:    
Proceeds from the exercise of stock options 727,653 252,641
Proceeds from contributions to employee stock purchase plan 471,466 338,680
Net cash provided by financing activities 1,199,119 591,321
Net decrease in cash and cash equivalents (18,174,277) (15,681,252)
Cash and cash equivalents - beginning 31,258,637 29,872,564
Cash and cash equivalents - ending 13,084,360 14,191,312
Restricted Stock Units (RSUs) [Member]    
Supplemental disclosure of non-cash financing activities:    
Common stock issued for RSUs $ 3 $ 2