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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Operating Activities:    
Net income (loss) $ 31,875,337 $ (34,003,514)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation 54,327 37,978
Amortization of right-of-use asset 243,399  
Stock-based compensation 3,824,815 3,550,644
Change in accrued interest and accretion of discount on investments (290,805) (443,139)
(Increase) decrease in:    
Accounts receivable, net (10,536,997)  
Inventory (1,900,780) (56,012)
Prepaid expenses and other current assets and deposits (2,701,293) (476,037)
Increase (decrease) in:    
Accounts payable 1,780,080 391,792
Accrued expenses and other liabilities 12,540,197 4,850,743
Operating lease liability (276,807)  
Net cash provided by (used in) operating activities 34,611,473 (26,147,545)
Investing Activities:    
Purchases of property and equipment (19,369) (92,018)
Purchases of investments (34,725,401) (36,790,854)
Proceeds from maturities and sales of investments 71,969,365 21,800,000
Net cash provided by (used in) investing activities 37,224,595 (15,082,872)
Financing Activities:    
Payment of employee withholding tax related to stock-based compensation 0 (4,448)
Proceeds from exercise of stock options 1,116,242 297,563
Net cash provided by (used in) financing activities 1,116,242 293,115
Net increase (decrease) in cash and cash equivalents 72,952,310 (40,937,302)
Cash and cash equivalents - beginning of period 16,559,400 57,496,702
Cash and cash equivalents - end of period 89,511,710 16,559,400
Non-cash investing and financing activities:    
Unrealized gain (loss) on available-for-sale securities $ 29,753 $ (20,248)