Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

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Condensed Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net loss $ (6,902,698) $ (4,138,649)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 34,312 32,976
Stock-based compensation 1,787,178 612,964
Amortization of debt discount 100,953 59
Amortization of debt issuance costs 4,290
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (142,974) (62,690)
Accounts payable 275,652 653,716
Accrued liabilities 77,490 (50,927)
Accrued payroll and other compensation 204,200 (286,309)
Net cash used in operating activities (4,561,597) (3,238,860)
Cash flows from investing activities:    
Purchases of property and equipment (1,428)
Patent costs 1,739
Payment for security deposit (1,475)
Purchases of investments (15,062,528) (8,677,884)
Proceeds from redemptions of investments 7,126,461 11,009,000
Net cash (used in) provided by investing activities (7,934,328) 2,328,213
Cash flows from financing activities:    
Deferred offering costs (35,154)
Proceeds from notes payable 3,902,500
Debt issuance costs (57,288)
Proceeds from the Controlled Equity Offering, net 19,304,054
Proceeds from exercise of warrants 591,990 2,404,993
Repayment of note payable (102,630)
Proceeds from exercise of employee stock options 389,158 19,825
Net cash provided by financing activities 24,130,414 2,287,034
Net increase in cash 11,634,489 1,376,387
Cash at beginning of period 2,823,450 3,257,458
Cash at end of period 14,457,939 4,633,845
Non-cash investing and financing activities:    
Warrants issued in connection with note payable 1,253,390
Supplemental disclosure of cash flow information:    
Cash paid for interest $ 14,363