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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities    
Net loss $ (148,640,670) $ (75,717,598)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization expenses 2,477,853 1,150,541
Amortization of deferred income (234,000) (234,000)
Share-based compensation 14,553,049 7,996,838
Share of loss from equity method investment 501,754 354,265
Loss on disposal of property and equipment 9,396 704
Net changes in operating assets and liabilities (19,660,544) 13,541,116
Net cash used in operating activities (150,993,162) (52,908,134)
Cash flows from investing activities:    
Purchases of short-term investments (251,600,000) (200,350,000)
Proceeds from maturity of short-term investments 200,350,000  
Purchase of equity method investment   (2,056,695)
Purchase of property and equipment (4,250,182) (9,891,901)
Purchase of land use right (7,776,348)  
Purchase of intangible assets (1,255,346) (120,133)
Net cash used in investing activities (64,531,876) (212,418,729)
Cash flows from financing activities:    
Proceeds from short-term borrowings 4,948,465 1,453,657
Repayment of short-term bank borrowings (2,228,769)  
Proceeds from exercises of stock options 447,368 32,776
Proceeds from issuance of ordinary shares upon public offerings 216,200,004 141,000,000
Payment of public offering costs (826,287) (116,790)
Net cash provided by financing activities 218,540,781 142,369,643
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 3,250,409 (1,745,196)
Net (decrease) increase in cash, cash equivalents and restricted cash 6,266,152 (124,702,416)
Cash, cash equivalents and restricted cash - beginning of the period 62,951,607 229,660,148
Cash, cash equivalents and restricted cash - end of the period 69,217,759 104,957,732
Supplemental disclosure on non-cash investing and financing activities:    
Payables for purchase of property and equipment 387,722 870,823
Payables for public offering costs 10,670 574,737
Supplemental disclosure of cash flow information:    
Interest expense paid 213,492 12,401
Reconciliation to amounts on the condensed consolidated balance sheets:    
Cash and cash equivalents 68,707,541 104,957,732
Restricted cash, non-current 510,218  
Cash, cash equivalents and restricted cash - end of the period $ 69,217,759 $ 104,957,732