XML 18 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Operating activities    
Net loss $ (20,366,469) $ (15,698,139)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,086,752 473,799
Accretion of discount on NuvoGen obligation 156,103 229,232
Bad debt expense, net of recoveries   44,854
Provision for excess inventory 437,893 273,752
Amortization of Growth Term Loan discount and issuance costs 415,355 274,486
Loss on settlement of convertible notes   705,217
Amortization of discount on convertible notes   90,222
Stock-based compensation expense 552,054 223,787
Change in redeemable convertible preferred stock warrant liability 0 239,683
Accretion of incentive from landlord (94,667)  
Accrued interest on available-for-sale securities investments 130,576  
Loss on disposal of assets   67,780
Changes in operating assets and liabilities:    
Accounts receivable 124,385 59,444
Inventory (104,277) (854,120)
Prepaid expenses and other 3,911 (505,918)
Accounts payable 367,529 (254,423)
Accrued liabilities (258,073) (47,367)
Deferred revenue 236,187 (8,532)
Net cash used in operating activities (17,312,741) (14,686,243)
Investing activities    
Purchase of property and equipment (1,859,155) (950,278)
Sales, redemptions and maturities of available-for-sale securities 23,000,000  
Purchase of available-for-sale securities (3,381,271) (36,473,957)
Net cash provided by (used in) investing activities 17,759,574 (37,424,235)
Financing activities    
Proceeds from initial public offering   47,654,190
Deferred offering costs   (1,002,930)
Proceeds from Growth Term Loan 5,000,000  
Payments on Growth Term Loan (2,932,482)  
Proceeds from convertible notes   4,500,000
Deferred convertible note financing costs   (75,523)
Payments on capital leases (99,863) (21,933)
Proceeds from exercise of stock options 10,132 34,048
Proceeds from exercise of Series E warrants   8,948
Proceeds from issuance of convertible note warrants   1,354
Proceeds from shares purchased under the stock purchase plan 167,721  
Payments on NuvoGen obligation (362,500)  
Settlement of fractional common shares   (2,925)
Net cash provided by financing activities 1,783,008 51,095,229
Increase (decrease) in cash and cash equivalents 2,229,841 (1,015,249)
Cash and cash equivalents at beginning of period 3,293,983 3,613,392
Cash and cash equivalents at end of period 5,523,824 2,598,143
Noncash investing and financing activities    
Accretion of preferred stock issuance costs   35,046
Accretion of dividends   1,165,932
Deferred offering costs reclassified to distributions in excess of capital   2,297,079
Allocation of Series E warrant convertible notes debt discount   741,828
Conversion of convertible notes and related accrued interest to common stock   4,544,384
Reclassification of convertible preferred stock liability warrants to equity warrants   (1,616,140)
Fixed asset purchases payable and accrued at period end 25,496 272,847
Stock issued for settlement of accrued bonus (364,910)  
Purchase of property and equipment under capital lease 226,835  
Incentive from landlord 710,000  
Supplemental cash flow information    
Cash paid for interest $ 850,713 701,250
Common Stock    
Noncash investing and financing activities    
Conversion of convertible preferred stock to common stock   (57,356,049)
Series D And E Redeemable Convertible Preferred Stock    
Noncash investing and financing activities    
Accretion of dividends   1,165,932
Series D and Series E Warrants    
Noncash investing and financing activities    
Exercise of warrants   (95,914)
Series E Warrants    
Noncash investing and financing activities    
Accretion of warrant discount   $ 127,616