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Statement of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net loss $ (9,170,410) $ (4,468,485)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 1,415,301 371,171
Warrant remeasurement 0 96,192
Depreciation expense 15,300 9,287
Amortization of debt discount 22,534 26,467
Amortization of debt issuance costs 21,016 0
Non-cash interest expense 8,955 8,364
Changes in assets and liabilities:    
Prepaid expenses and other assets 151,571 (62,576)
Accounts payable 842,864 (760,670)
Accrued expenses (2,381,078) 515,227
Net cash used in operating activities (9,073,947) (4,265,023)
Cash flows from investing activities:    
Purchases of property and equipment (77,287) (86,078)
Net cash used in investing activities (77,287) (86,078)
Cash flows from financing activities:    
Proceeds from issuance of debt 0 3,000,000
Proceeds from exercise of stock options 546 0
Payments for issuance costs (549,178) (50,890)
Payments for debt payable (547,140) 0
Proceeds from issuance of preferred stock, net of issuance costs 0 (31,314)
Net cash (used in) provided by financing activities (1,095,772) 2,917,796
Net (decrease) increase in cash (10,247,006) (1,433,305)
Cash and cash equivalents at beginning of period 130,189,421 13,728,972
Cash and cash equivalents at end of period 119,942,415 12,295,667
Cash paid for:    
Interest 133,047 104,500
Supplemental cash flow information:    
Deferred issuance costs included in accrued expenses and accounts payable 0 21,015
Accrued capital expenditures included in accrued expenses $ 5,000 $ 83,018