XML 36 R7.htm IDEA: XBRL DOCUMENT v3.6.0.2
Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net loss $ (38,820,998) $ (28,078,646) $ (12,201,386)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation expense 5,305,070 2,899,304 1,297,985
Warrant remeasurement 0 1,879,823 (582,360)
Depreciation expense 100,117 53,116 31,229
Loss on disposal of fixed assets 102,788 0 0
Amortization of debt discount 75,214 104,311 35,288
Amortization of debt issuance costs 90,800 94,648 0
Non-cash interest expense 175,909 38,521 6,384
Changes in assets and liabilities:      
Other receivable 0 0 459,018
Prepaid expenses and other assets 38,794 (814,156) (96,754)
Accounts payable 1,420,556 (71,751) 526,869
Accrued expenses (676,918) 2,142,187 808,514
Net cash used in operating activities (32,188,668) (21,752,643) (9,715,213)
Cash flows from investing activities:      
Purchases of property and equipment (686,705) (1,305,086) (884,793)
Net cash used in investing activities (686,705) (1,305,086) (884,793)
Cash flows from financing activities:      
Proceeds from issuance of debt 11,022,286 3,000,000 3,000,000
Proceeds from exercise of stock options 293,988 1,094 0
Proceeds from exercise of warrants 20,970 0 0
Payments for issuance costs (544,773) (1,402,845) (1,351,450)
Payments for debt issuance costs (219,042) 0 (94,998)
Repayment of debt (1,488,558) (533,729) 0
Proceeds from issuance of common stock, net of underwriting costs 0 86,059,087 0
Proceeds from issuance of preferred stock, net of issuance costs 0 52,394,571 14,917,257
Net cash provided by financing activities 9,084,871 139,518,178 16,470,809
Net (decrease) increase in cash (23,790,502) 116,460,449 5,870,803
Cash and cash equivalents at beginning of period 130,189,421 13,728,972 7,858,169
Cash and cash equivalents at end of period 106,398,919 130,189,421 13,728,972
Cash paid for:      
Interest 790,402 559,175 82,729
Supplemental cash flow information:      
Conversion of Preferred Stock to Common Stock 0 93,364,275 0
Conversion of Preferred Stock Warrants to Common Stock Warrants 0 3,726,043 0
Deferred issuance costs included in accrued expenses and accounts payable 0 549,178 53,946
Non-cash financing costs 0 175,114 0
Accrued capital expenditures included in accrued expenses and accounts payable $ 167,285 $ 71,040 $ 450,373