XML 19 R6.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Operating activities    
Net loss $ (18,105,315) $ (7,917,853)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 21,360 12,241
Stock-based compensation 4,463,695 604,976
Change in fair value of warrants (19,807) (475,422)
Issuance of restricted common stock for services 1,958,450 0
Increase (decrease) in operating assets and liabilities excluding effects of the Merger:    
Grants receivable (673,218) (84,344)
Other receivables 2,275 28,316
Prepaid expenses and other (199,377) (117,004)
Accounts payable 1,631,305 1,246,270
Accrued clinical operations and site costs (103,069) (279,413)
Accrued compensation 332,374 (789,014)
Other accrued expenses 166,145 109,228
Net cash used in operating activities (10,525,182) (7,662,019)
Investing activities    
Purchases of property and equipment (78,416) (44,807)
Proceeds from acquisition of Telik, Inc. 0 1,497,283
Net cash provided by (used in) investing activities (78,416) 1,452,476
Financing activities    
Issuances of preferred stock, net of issuance costs 2,500,000 2,973,655
Proceeds from exercise of MabVax Series B warrant 0 1,942
Proceeds from exercise of MabVax Series C-1 warrants 0 1,472,502
Proceeds from exercise of stock options 800 0
Proceeds from issuance of common stock, net of issuance costs 10,709,740 2,884,333
Net cash provided by financing activities 13,210,540 7,332,432
Net change in cash and cash equivalents 2,606,942 1,122,889
Cash and cash equivalents at beginning of year 1,477,143 354,254
Cash and cash equivalents at end of year 4,084,085 1,477,143
Supplemental disclosures of cash flow information:    
Cash paid during the period for income taxes 1,600 800
Supplemental disclosures of non-cash investing and financing information:    
Deemed dividend on beneficial conversion feature for preferred stock 17,852,921 2,214,911
Goodwill on acquisition of Telik, Inc. 0 6,826,003
Warrant liability upon acquisition of Telik, Inc. 0 567,885
Accretion of redemption value for Series A-1, B and C-1 preferred stock   444,992
Issuance of common stock for accounts payable 0 240,000
Conversion of Series A and Series B redeemable preferred stock into common stock 160,380 12,527,124
Conversion of Series C-1 redeemable preferred stock into Series A-1 preferred stock 0 6,807,388
Conversion of Series D preferred stock into common stock 467 0
Conversion of Series A-1 preferred stock and warrants into common stock and Series D preferred stock 162,968 0
Acquisition of MabVax Therapeutics Holdings in relation to the merger 0 4,705,726
Warrants exercised to purchase common stock on a cashless basis to purchase 488,659 shares of common stock. See Note 7. 12,198 4,887
Conversion of common stock to Series C preferred stock   1,190
Elimination of warrant liability in exchange transaction 72,656 0
Financing transaction not yet paid 36,570 0
Conversion of Series C preferred stock to common stock 966 $ 224
Property and equipment accrued in accounts payable $ 21,376