Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

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Condensed Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net loss $ (1,648,795) $ (916,978)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 7,875 1,249
Stock-based compensation 216,205 222,498
Amortization of debt discount 98 235
Changes in operating assets and liabilities:    
Restricted cash 4,055 85,640
Prepaid expenses and other current assets (86,634) (20,279)
Accounts payable (65,386) 102,428
Accrued liabilities (204,106) 11,568
Accrued payroll and other compensation (22,706) 6,927
Net cash used in operating activities (1,799,394) (506,712)
Cash flows from investing activities:    
Purchases of property and equipment (212,679) 0
Payment for security deposit (16,612) 0
Purchases of investments (6,243,714) 0
Proceeds from redemptions of investments 1,498,000 0
Net cash used in investing activities (4,975,005) 0
Cash flows from financing activities:    
Deferred offering costs (35,811) (28,355)
Proceeds from the issuance of preferred stock, net 0 2,330,079
Proceeds from convertible notes 0 210,000
Proceeds from initial public offering 10,253,484 0
Proceeds from exercise of stock options 55,548 0
Proceeds from conversion of private placement Puts 2,700,000 0
Net cash provided by financing activities 12,973,221 2,511,724
Net increase in cash and cash equivalents 6,198,822 2,005,012
Cash and cash equivalents at beginning of period 1,194,492 145,170
Cash and cash equivalents at end of period 7,393,314 2,150,182
Non-cash investing and financing activities:    
Warrants issued in connection with bridge loans 0 138
Conversion of convertible notes to Series B Preferred Stock 0 210,000
Reclassification of deferred offering costs to equity 785,197 0
Conversion of Series B Preferred Stock to Common Stock $ 5,400,000 $ 0