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CONDENSED BALANCE SHEETS
Mar. 31, 2017
USD ($)
Current assets:  
Cash and cash equivalents $ 1,205,061
Restricted cash 21,192
Other receivable 288,166
Due from former parent 221,422
Inventory 392,640
Deferred offering costs 65,078
Prepaid expenses 387,912
Total current assets 2,581,471
Property and equipment, net 870,914
Other assets 122,163
Total assets 3,574,548
Current liabilities:  
Accounts payable 1,465,494
Deferred collaboration revenue 2,088,989
Deferred product revenue 208,258
Convertible notes payable 150,000
Accrued expenses 1,266,347
Warrant liability 1,252,620
Current portion of long-term debt 1,994,015
Total current liabilities 8,425,723
Long-term debt, net of discount 1,332,703
Deferred rent 7,114
Total liabilities 9,765,540
Commitments and Contingencies (See Note 6)
Stockholders' Deficit:  
Preferred stock: $0.0001 par value, 10,000,000 shares authorized at March 31, 2017 and December 31, 2016; no shares issued and outstanding at March 31, 2017 and December 31, 2016.
Common stock: $0.0001 par value, 50,000,000 shares authorized at March 31, 2017 and December 31, 2016; 14,424,128 and 14,007,132 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively. 1,443
Additional paid-in capital 38,959,031
Accumulated deficit (45,151,466)
Total stockholders' deficit (6,190,992)
Total liabilities, convertible preferred stock and stockholders' deficit $ 3,574,548