Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

v3.8.0.1
Condensed Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net loss $ (13,443,457) $ (12,473,140)
Adjustments to reconcile net loss to Net cash used in operating activities:    
Depreciation and amortization 299,520 326,563
Stock based compensation 4,609,208 3,538,191
Amortization of prepaid rent from stock issuance to landlord 20,196 20,196
Loss on sales of property and equipment, net   726
Changes in operating assets and liabilities:    
Accounts receivable (25,000) (102,500)
Prepaid expenses and other current assets 372,021 727,215
Accounts payable (120,659) (1,754,121)
Accrued expenses 560,460 (215,182)
Deferred revenue   (75,593)
Net cash used in operating activities (7,727,711) (10,007,645)
Cash flows from investing activities:    
Purchases of property and equipment (238,611) (79,768)
Proceeds from sales of property and equipment   2,800
Net cash used in investing activities (238,611) (76,968)
Cash flows from financing activities:    
Net proceeds from the sales of common stock 38,846,815  
Proceeds from the exercise of stock options 981,053 26,905
Proceeds from contributions to employee stock purchase plan 200,935 245,959
Net cash provided by financing activities 40,028,803 272,864
Net increase (decrease) in cash and cash equivalents 32,062,481 (9,811,749)
Cash and cash equivalents - beginning 12,795,254 31,258,637
Cash and cash equivalents - ending 44,857,735 21,446,888
Restricted Stock Units (RSUs) [Member]    
Supplemental disclosure of non-cash financing activities:    
Common stock issued 3 $ 2
Performance Shares [Member]    
Supplemental disclosure of non-cash financing activities:    
Common stock issued $ 1