Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

v3.7.0.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net loss $ (4,138,649) $ (2,744,122)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 32,976 25,512
Stock-based compensation 612,964 333,301
Amortization of debt discount 59 98
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (62,690) (49,278)
Accounts payable 653,716 43,131
Accrued liabilities (50,927) (29,002)
Accrued payroll and other compensation (286,309) 12,936
Net cash used in operating activities (3,238,860) (2,407,424)
Cash flows from investing activities:    
Purchases of property and equipment (1,428) (35,913)
Payment for security deposit (1,475) (6,601)
Purchases of investments (8,677,884) (6,583,937)
Proceeds from redemptions of investments 11,009,000 8,649,000
Net cash provided by investing activities 2,328,213 2,022,549
Cash flows from financing activities:    
Deferred offering costs (35,154)
Proceeds from exercise of warrants 2,404,993 712,246
Repayment of note payable (102,630)
Proceeds from exercise of compensation options 496,376
Proceeds from exercise of employee stock options 19,825 2,600
Net cash provided by financing activities 2,287,034 1,211,222
Net increase in cash 1,376,387 826,347
Cash at beginning of period 3,257,458 4,803,687
Cash at end of period 4,633,845 5,630,034
Supplemental disclosure of cash flow information:    
Income taxes paid 2,057 1,300
Interest paid $ 14,363