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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES        
Net loss $ (7,039,248) $ (3,906,142) $ (10,577,317) $ (6,853,562)
Adjustments to reconcile net loss to net cash used in operating activities        
Compensation cost for stock options granted     1,853,861 1,724,236
Disposal of assets     0 2,226
Depreciation and amortization     15,048 24,711
Changes in operating assets and liabilities:        
Prepaid expenses     (578,064) (602,022)
Research and development tax rebate receivable     (182,169) (20,966)
Other assets     582,590 (237,827)
Accounts payable     (1,050,698) 739,536
Accrued expenses     438,235 14,967
Payroll liabilities     (263,077) (244,012)
Other current liabilities     16,530 (6,704)
Net cash used in operating activities     (9,745,061) (5,459,417)
CASH FLOWS FROM INVESTING ACTIVITY        
Purchase of furniture and equipment     0 (6,610)
Net cash used in investing activities     0 (6,610)
CASH FLOWS FROM FINANCING ACTIVITY        
Proceeds from issuance of common stock, net of issuance costs     0 347,627
Proceeds from issuance of common stock and warrants, net of issuance costs     69,668,408 0
Proceeds from exercise of warrants 10,196,000 0 42,955,943 0
Net cash provided by financing activities     112,624,351 347,627
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH     102,879,290 (5,118,400)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING BALANCE     39,663,671 12,691,136
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE 142,542,961 7,572,736 142,542,961 7,572,736
SUPPLEMENTAL DISCLOSURES        
Cash and cash equivalents 142,432,961 7,462,736 142,432,961 7,462,736
Restricted cash 110,000 110,000 110,000 110,000
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows $ 142,542,961 $ 7,572,736 142,542,961 7,572,736
NONCASH INVESTING AND FINANCING ACTIVITIES        
Reclassification of the warrant liability to equity upon adoption of accounting standard     13,003,075 0
Conversion of Series B Convertible Preferred Stock into Common Stock [Member]        
NONCASH INVESTING AND FINANCING ACTIVITIES        
Conversion of convertible preferred stock to common stock     $ 34,000 $ 45,000