Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

v3.21.2
Condensed Statements of Cash Flows - USD ($)
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Dec. 31, 2020
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Cash flows from operating activities:            
Net loss       $ (32,006,118) $ (24,359,239)  
Adjustments to reconcile net loss to Net cash used in operating activities:            
Depreciation and amortization       195,361 286,990  
Stock based compensation $ 2,216,539   $ 1,972,742 8,591,089 6,318,948  
Changes in operating lease right-of-use assets       594,089 570,460  
Bad debt expense       10,850 33,000  
Changes in operating assets and liabilities:            
Accounts receivable       (111,683) 3,794  
Prepaid expenses and other current assets       (72,074) (331,367)  
Accounts payable       (174,606) (626,053)  
Accrued severance expense 1,102,832     1,102,832    
Accrued expenses       18,822 (818,306)  
Other assets       (10,381)    
Operating lease liabilities       (636,984) (514,167)  
Net cash used in operating activities       (22,498,803) (19,435,940)  
Cash flows from investing activities:            
Purchases of property and equipment       (310,718) (7,302)  
Net cash used in investing activities       (310,718) (7,302)  
Cash flows from financing activities:            
Net proceeds from the sales of common stock         14,723,491 $ 53,556,202
Proceeds from contributions to employee stock purchase plan       362,048 338,896  
Net cash provided by financing activities       362,048 15,062,387  
Net (decrease) in cash and cash equivalents       (22,447,473) (4,380,855)  
Cash and cash equivalents - beginning   $ 17,303,234   50,729,661 21,684,089 21,684,089
Cash and cash equivalents – ending $ 28,282,188 50,729,661 17,303,234 28,282,188 17,303,234 $ 50,729,661
Supplemental disclosure of non-cash financing activities:            
At-the-market ("ATM") funds receivable   $ 38,832,711 $ 38,832,711   3,165,868  
Restricted Stock Units (RSUs) [Member]            
Supplemental disclosure of non-cash financing activities:            
Common stock issued       12 $ 10  
Performance Shares [Member]            
Supplemental disclosure of non-cash financing activities:            
Common stock issued       $ 5