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, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net loss $ (25,741,828) $ (25,392,150)
Adjustments to reconcile net loss to Net cash used in operating activities:    
Depreciation and amortization 574,815 681,985
Stock based compensation 8,952,088 7,904,154
Amortization of prepaid rent from stock issuance to landlord 40,392 40,392
Loss on sales of property and equipment, net   726
Changes in operating assets and liabilities:    
Accounts receivable (205,773) (101,000)
Prepaid expenses and other current assets 436,360 555,285
Other assets   9,619
Accounts payable 361,302 (2,329,892)
Accrued expenses 211,518 (222,299)
Deferred revenue   (102,823)
Net cash used in operating activities (15,371,126) (18,956,003)
Cash flows from investing activities:    
Purchases of property and equipment (548,800) (420,193)
Proceeds from sales of property and equipment   2,800
Net cash used in investing activities (548,800) (417,393)
Cash flows from financing activities:    
Net proceeds from the sales of common stock 38,846,815  
Proceeds from the exercise of stock options 983,224 727,653
Proceeds from contributions to employee stock purchase plan 370,814 471,466
Net cash provided by financing activities 40,200,853 1,199,119
Net increase (decrease) in cash and cash equivalents 24,280,927 (18,174,277)
Cash and cash equivalents - beginning 12,795,254 31,258,637
Cash and cash equivalents - ending 37,076,181 13,084,360
Restricted Stock Units (RSUs) [Member]    
Supplemental disclosure of non-cash financing activities:    
Common stock issued 4 $ 3
Performance Shares [Member]    
Supplemental disclosure of non-cash financing activities:    
Common stock issued $ 1