Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 9,919,403 $ 167,001
Prepaid expenses and other current assets 83,924 26,443
Current portion of refundable tax credit receivable 25,312 25,336
Total current assets 10,028,639 218,780
Property and equipment, net 231 1,257
Restricted cash 20,000 0
Deferred offering costs 0 1,148,994
Other assets 37,250 37,439
Total assets 10,086,120 1,406,470
Current liabilities:    
Grants payable 0 36,401
Accounts payable 158,128 565,947
Accrued expenses 250,805 913,063
Deferred revenue 1,000,000 0
Convertible notes due to stockholders, net (aggregate principal outstanding of $3,376,573 at December 31, 2014) 0 3,205,504
Warrant liability 0 303,102
Total current liabilities $ 1,408,933 $ 5,024,017
Commitments and contingencies (Note 12)
Convertible preferred stock and non-controlling interests: (classified as temporary equity)    
Non-controlling interests $ 0 $ 6,780,588
Total convertible preferred stock and non-controlling interests 0 43,189,254
Stockholders’ equity (deficit):    
Preferred stock, $0.01 par value; 10,000,000 shares authorized, 0 issued and outstanding at September 30, 2015 0 0
Common stock, $0.01 par value: 100,000,000 shares authorized; 7,654,644 shares issued at September 30, 2015 and 201,787 shares issued at December 31, 2014 76,546 2,018
Additional paid-in capital 71,121,443 10,055,613
Accumulated deficit (62,565,304) (56,862,152)
Shareholder notes receivable (58,824) (58,824)
Accumulated other comprehensive income 103,326 56,544
Total stockholders’ equity (deficit) 8,677,187 (46,806,801)
Total liabilities, convertible preferred stock, non-controlling interests and stockholders’ equity (deficit) 10,086,120 1,406,470
Series A Convertible Preferred Stock [Member]    
Convertible preferred stock and non-controlling interests: (classified as temporary equity)    
Convertible preferred stock 0 254,525
Series B Convertible Preferred Stock [Member]    
Convertible preferred stock and non-controlling interests: (classified as temporary equity)    
Convertible preferred stock 0 6,926,180
Series C Convertible Preferred Stock [Member]    
Convertible preferred stock and non-controlling interests: (classified as temporary equity)    
Convertible preferred stock 0 5,745,127
Series D Convertible Preferred Stock [Member]    
Convertible preferred stock and non-controlling interests: (classified as temporary equity)    
Convertible preferred stock $ 0 $ 23,482,834