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 ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net loss $ (3,586,585) $ (2,232,110)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 17,239 15,989
Stock-based compensation 978,708 414,513
Amortization of debt discount 1,976 59
Amortization of debt issuance costs 89
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (254,118) (61,183)
Accounts payable (52,668) 281,231
Accrued liabilities 22,622 28,687
Accrued payroll and other compensation 29,751 (265,417)
Net cash used in operating activities (2,842,986) (1,818,231)
Cash flows from investing activities:    
Adjustment to capitalized patent costs 1,739
Purchases of investments (1,498,889) (5,327,361)
Proceeds from redemptions of investments 5,631,830 4,433,000
Net cash provided by (used in) investing activities 4,134,680 (894,361)
Cash flows from financing activities:    
Debt issuance costs (31,993)
Proceeds from exercise of warrants 588,499 2,404,993
Repayment of note payable (102,630)
Proceeds from exercise of employee stock options 146,438 19,825
Proceeds from private offering, net 2,142,500
Net cash provided by financing activities 2,845,444 2,322,188
Net increase (decrease) in cash 4,137,138 (390,404)
Cash and cash equivalents at beginning of period 2,823,450 3,257,458
Cash and cash equivalents at end of period 6,960,588 2,867,054
Non-cash investing and financing activities:    
Warrants issued in connection with note payable 711,310
Cash paid:    
Interest paid $ 12,418