XML 18 R6.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss $ (39,632,311) $ (29,259,970)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 7,598,329 3,731,097
Amortization of debt discount 223,143 276,095
Depreciation 36,636 8,326
Amortization of operating lease right-of-use asset 275,063 262,764
Change in operating lease liability (214,807) (275,840)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (2,076,858) (226,933)
Accounts payable (554,217) 1,117,695
Accrued expenses and other current liabilities 1,692,042 (2,848,723)
Net cash used in operating activities (32,652,980) (27,215,489)
Cash flows from investing activities    
Purchases of equipment (213,736) (29,995)
Net cash used in investing activities (213,736) (29,995)
Cash flows from financing activities    
Proceeds from issuance of common stock upon financing, net 31,008,601 6,115,864
Proceeds from issuance of common stock upon exercise of options 181,637 1,913,299
Payments of tax withholdings on stock award (88,594)  
Net cash (used in) provided by financing activities 31,101,644 8,029,163
Net (decrease) increase in cash (1,765,072) (19,216,321)
Cash at beginning of period 86,472,854 183,876,453
Cash at end of period 84,707,782 164,660,132
Supplemental disclosures of cash flow information:    
Interest paid 1,118,750 $ 1,143,750
Operating lease right-of-use asset obtained in exchange for operating lease liability $ 561,380