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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities    
Net loss $ (1,851,896) $ (2,083,816)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation, amortization and impairment 4,795 4,233
Equity-based compensation expense 135,379 38,409
Change in fair value of warrant liability 46,054 (283,070)
Changes in operating assets and liabilities:    
Grants receivable (367,536) (591,129)
Prepaid expenses and other current assets 21,214 298,959
Accounts payable (446,520) (911,301)
Accrued expenses and other current liabilities (264,280) 361,382
Deferred revenue 0 (541,701)
Net cash used in operating activities (2,722,790) (3,708,034)
Financing activities    
Proceeds from issuance of equity securities, net 27,016,746 9,865,727
Proceeds from warrants exercised for cash 1,485,351 0
Payments on note payable (285,633) (249,653)
Net cash provided by financing activities 28,216,464 9,616,074
Net increase in cash, cash equivalents and restricted cash 25,493,674 5,908,040
Cash, cash equivalents and restricted cash at beginning of period 11,118,614 3,738,900
Cash, cash equivalents and restricted cash at end of period 36,612,288 9,646,940
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,174 3,061
Non-cash investing and financing activities:    
Accrued issuance costs for public offering $ 166,725 $ 398,561