XML 38 R6.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net loss $ (32,484,146) $ (10,640,376)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 2,133,530 1,256,310
Non-cash research and development license expense 7,155,337  
Amortization of debt discount 177,652 107,433
Depreciation 5,436 11,439
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 103,725 111,668
Other assets (3,700) 10,829
Accounts payable 1,248,389 (253,060)
Accrued expenses and other current liabilities (1,609,407) (103,453)
Net cash used in operating activities (23,273,184) (9,499,210)
Cash flows from investing activities    
Purchases of equipment (9,331)  
Net cash used in investing activities (9,331)  
Cash flows from financing activities    
Procceds from issuance of common stock upon financing, net   24,983,682
Proceeds from issuance of common stock upon exercise of options 629,756 410,162
Proceeds from issuance of term loan   20,000,000
Repayment of principal on term loan   (7,238,889)
Net cash (used in) provided by financing activities 629,756 38,154,955
Net (decrease) increase in cash (22,652,759) 28,655,745
Cash at beginning of period 219,966,167 13,968,742
Cash at end of period 197,313,408 42,624,487
Supplemental disclosures of cash flow information:    
Interest paid $ 379,167 216,667
Supplemental disclosures of non-cash financing activity:    
Issuance of warrants in connection with debt financing   $ 426,000