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Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net loss $ (96,426,856) $ (73,735,953)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 14,912,556 9,150,373
Non-cash research and development license expense   7,155,337
Amortization of debt discount 851,862 491,009
Amortization of operating lease right-of-use asset 802,949  
Change in operating lease liability (922,179)  
Loss on extinguishment of debt   1,247,012
Depreciation 45,305 16,482
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (252,929) (498,897)
Other assets (5,535) (177,500)
Accounts payable (122,341) 371,801
Accrued expenses and other current liabilities 1,731,923 (1,922,716)
Net cash used in operating activities (79,385,245) (57,903,052)
Cash flows from investing activities    
Purchases of equipment (307,549) (25,604)
Net cash used in investing activities (307,549) (25,604)
Cash flows from financing activities    
Proceeds from issuance of common stock upon financing, net 7,212,367 12,074,999
Proceeds from issuance of term loan   50,000,000
Payment of debt financing costs   (1,102,609)
Repayment of principal on term loan   (21,660,000)
Proceeds from issuance of common stock upon exercise of options 3,310,877 1,010,391
Payments of tax withholdings on stock award (84,010)  
Net cash (used in) provided by financing activities 10,439,234 40,322,781
Net (decrease) increase in cash (69,253,560) (17,605,875)
Cash at beginning of period 183,876,453 219,966,167
Cash at end of period 114,622,893 202,360,292
Supplemental disclosures of cash flow information:    
Interest paid $ 3,482,083 1,179,337
Supplemental disclosures of non-cash financing activity:    
Issuance of warrants in connection with debt financing   884,216
Common stock issued in connection with license agreement with Pfizer, Inc.   $ 8,000,000