Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating Activities    
Net Loss $ (6,246,517) $ (6,265,714)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Depreciation and Amortization 9,072 245
Stock-Based Compensation 512,141 237,404
Changes in Operating Assets and Liabilities:    
Prepaid Expenses and Other Current Assets (353,618) (143,622)
Refundable Tax Credit Receivable 198 (2,092)
Grant Receivable (108,729) 861,516
Other Assets (418) (6,506)
Accounts Payable (441,216) 533,766
Deferred Revenue 4,636,400 655,823
Accrued Expenses (504,478) 100,637
Net Cash Used in Operating Activities (2,497,165) (4,028,543)
Investing Activities:    
Acquisition of Jade (Net of Cash Acquired) 0 185,746
Restricted Cash 0 (25,000)
Net Cash Provided by Investing Activities 0 160,746
Financing Activities    
Proceeds from Stock Offerings 11,922,252 3,768,750
Stock Issuance Costs (1,333,069) (323,814)
Exercise of Common Stock Options 40,718 56,206
Equipment Financing Payments (6,323) 0
Net Cash Provided by Financing Activities 10,623,578 3,501,142
Effect of Exchange Rate Changes on Cash 1,500 (1,059)
Net Increase (Decrease) in Cash 8,127,913 (367,714)
Cash, Beginning of Period 3,635,224 8,394,133
Cash, End of Period 11,763,137 8,026,419
Supplemental Disclosure of Noncash Investing and Financing Activities    
Conversion of Preferred Stock into Common Stock 9,300 0
Issuance of Common Stock to Acquire Jade Therapeutics, Inc. 0 2,470,005
Contingent Liability in Connection with the Jade Acquisition $ 0 $ 1,210,000