Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

v3.8.0.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net loss $ (6,999,756) $ (4,397,851)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 49,502 41,273
Stock-based compensation 1,180,835 524,118
Amortization of debt discount 59 147
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (2,474) 5,967
Accounts payable 472,046 214,334
Accrued liabilities 42,493 (11,769)
Accrued payroll and other compensation (300,576) 20,417
Net cash used in operating activities (5,557,871) (3,603,364)
Cash flows from investing activities:    
Purchases of property and equipment (3,259) (67,011)
Capitalized patent costs (23,693)
Payment for security deposit (3,655) (6,601)
Purchases of investments (16,707,352) (8,662,205)
Proceeds from redemptions of investments 14,109,000 12,073,000
Net cash (used in) provided by investing activities (2,628,959) 3,337,183
Cash flows from financing activities:    
Proceeds from exercise of warrants 2,404,993 741,046
Repayment of note payable (205,260)
Proceeds from exercise of compensation options 731,085
Proceeds from exercise of employee stock options 19,825 2,600
Proceeds from private offering, net 5,024,742
Net cash provided by financing activities 7,244,300 1,474,731
Net (decrease) increase in cash (942,530) 1,208,550
Cash at beginning of period 3,257,458 4,803,687
Cash at end of period 2,314,928 6,012,237
Cash paid:    
Income taxes paid 2,057 1,300
Interest paid $ 29,007