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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash Flows from Operating Activities    
Net loss $ (12,160,729) $ (6,640,495)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain (loss) on disposal of fixed assets 34,549  
Materials cost in connection with license activity 6,287 1,082,626
Warrants issued in connection with transfer agreement   37,840
Warrants issued in connection with line of credit   114,300
Stock-based compensation 828,049 105,610
Amortization of beneficial conversion feature   36,981
Accretion of debt discount 2,493,074 5,514
Revaluation of warrant liability 501,617  
Amortization of deferred finance charge 99,882 3,894
Changes in assets and liabilities:    
Accounts receivable (8,698)  
Inventory (58,100)  
Prepaid license fee   100,000
Prepaid expenses (329,774) (66,743)
Deferred finance charges (197,524)  
Other long-term assets (122,163)  
Due to/from parent (20,790) (44,622)
Deferred revenue 312,910  
Deferred rent 1,660  
License fee payable (675,000)  
Accounts payable (421,551) 617,057
Accrued expenses (669,634) 1,028,781
Total cash used in operations (10,385,935) (3,619,257)
Cash Flows from Investing Activities    
Purchase of equipment (23,300) (55,149)
Sale of equipment 20,600  
Change in restricted cash (4,500,000)  
Total Cash Used in Investing Activities (4,502,700) (55,149)
Cash Flows from Financing Activities    
Proceeds from Issuance of Long-term Debt 5,865,567  
Proceeds from issuance of redeemable convertible preferred stock, net   6,658,241
Repayment of convertible notes payable (100,000)  
Repayment of notes payable (1,000,000)  
Proceeds from issuance of redeemable convertible notes payable, net 1,250,000 450,000
Proceeds from issuance of common stock in initial public offering, net 18,810,484  
Deferred offering costs (417,775) (1,954,007)
Proceeds from exercise of common stock options 12,650  
Total Cash Provided by Financing Activities 24,420,926 5,154,234
Net increase in cash and cash equivalents 9,532,291 1,479,828
Cash and cash equivalents, beginning of period 845,192 [1] 185,367
Cash and cash equivalents, end of period 10,377,483 1,665,195
Supplemental Schedule of Non-Cash Financing and Investing Activities    
Interest paid on long-term debt 23,100  
Offering costs not paid during the period 1,401,253  
Equipment received in connection with license agreement   817,374
Notes payable converted into common stock   525,000
Warrants issued in connection with convertible notes payable 47,479  
Conversion of convertible preferred stock to common stock 7,651,288  
Conversion preferred stock warrant liability to common stock warrants 1,150,985  
Conversion of convertible notes to common stock 2,100,000  
Accretion of redeemable convertible preferred stock 346,374 $ 465,841
Abatement of license fee payable to Napo $ 250,000  
[1] The condensed balance sheet at December 31, 2014 is derived from the audited financial statements at that date included in the Company’s prospectus filed with the Securities and Exchange Commission pursuant to Rule 424(b)(4) on May 14, 2015.