Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF CASH FLOWS

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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net loss $ (12,473,140) $ (10,796,542)
Adjustments to reconcile net loss to Net cash used in operating activities:    
Depreciation and amortization 326,563 192,104
Stock based compensation 3,538,191 1,953,534
Amortization of prepaid rent from stock issuance to landlord 20,196 20,196
Loss on sales of property and equipment, net 726 0
Changes in operating assets and liabilities:    
Accounts receivable (102,500) 0
Prepaid expenses and other current assets 727,215 55,172
Accounts payable (1,754,121) 2,111,999
Accrued expenses (215,182) (225,694)
Deferred revenue (75,593) 363,636
Net cash used in operating activities (10,007,645) (6,325,595)
Cash flows from investing activities:    
Purchases of property and equipment (79,768) (120,370)
Proceeds from sales of property and equipment 2,800 0
Net cash used in investing activities (76,968) (120,370)
Cash flows from financing activities:    
Proceeds from the exercise of stock options 26,905 110,283
Proceeds from contributions to employee stock purchase plan 245,959 173,784
Net cash provided by financing activities 272,864 284,067
Net decrease in cash and cash equivalents (9,811,749) (6,161,898)
Cash and cash equivalents - beginning 31,258,637 29,872,564
Cash and cash equivalents - ending 21,446,888 23,710,666
Restricted Stock Units (RSUs) [Member]    
Supplemental disclosure of non-cash financing activities:    
Common stock issued for RSUs $ 2 $ 1