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Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net loss $ (9,400,257) $ (3,475,202)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 3,812 2,141
Stock‑based compensation 905,471 97,946
Amortization of right of use lease asset 63,962 25,782
Foreign currency gain (2,247,891) (935,916)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 864,937 57,929
Accounts payable 829,836 202,292
Accrued expenses and other liabilities 1,656,216 (145,555)
Lease liability (217,711) (26,763)
Net cash used in operating activities (7,541,625) (4,197,346)
Cash flows from investing activities:    
Purchases of property and equipment (12,165)  
Net cash used in investing activities (12,165)  
Cash flows from financing activities:    
Proceeds from the exercise of stock options 29,523 23,118
Deferred offering costs   (188,826)
Proceeds from issuance of Series C convertible preferred, net   5,598,362
Net cash provided by financing activities 29,523 5,432,654
Increase (decrease) in cash and cash equivalents (7,524,267) 1,235,308
Effect of exchange rate changes on cash (51,245) (1,228,692)
Cash and cash equivalents—beginning of year 130,088,869 65,675,931
Cash and cash equivalents—end of year $ 122,513,357 65,682,547
Non‑cash activities:    
Cumulative effect of change in accounting principle—ASC 842 adoption   $ 329,384