XML 31 R7.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (57,776,274) $ (37,553,729)
Adjustments to reconcile net loss to net cash used in operating activities:    
Acquired in-process research and development 0 1,754,265
Deferred taxes 0 (479,265)
Stock-based compensation 7,108,027 7,083,810
Non-cash interest expense 409,471 566,020
Net amortization of premium on debt securities available for sale 0 (91,231)
Depreciation and ammortization 264,180 56,221
Change in assets and liabilities:    
Prepaid expenses and other current assets 2,239,176 (3,396,507)
Accounts payable 638,064 (426,664)
Accrued expenses and other liabilities 4,561,449 (5,006,375)
Net cash used in operating activities (42,555,907) (37,493,455)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisitions of fixed assets (7,806)
Purchases of marketable securities 0 (5,776,090)
Sales of marketable securities 0 34,800,000
Net cash (used in) provided by investing activities (7,806) 29,023,910
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock, net of issuance costs 189,811,611 40,716,544
Proceeds from exercise of stock options 4,623,251 1,058,516
Proceeds from employee stock purchase plan 61,529 126,966
Net cash provided by financing activities 194,496,391 41,902,026
NET INCREASE IN CASH AND CASH EQUIVALENTS 151,932,678 33,432,481
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 77,858,311 44,425,830
CASH AND CASH EQUIVALENTS, END OF PERIOD 229,790,989 77,858,311
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Cash paid during the period for interest 1,337,083 1,387,750
SUPPLEMENTAL INFORMATION AND DISCLOSURES OF NONCASH ACTIVITIES:    
Common stock issued in connection with Helio Vision, Inc. acquisition milestone 58,081 38,667
Helio Vision, Inc [Member]    
SUPPLEMENTAL INFORMATION AND DISCLOSURES OF NONCASH ACTIVITIES:    
Common stock issued in connection with Helio Vision, Inc. acquisition milestone $ 2,499,991