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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:    
Net loss $ (13,007,344) $ (11,660,022)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation expense 15,443 18,595
Stock-based compensation expense 1,035,834 1,457,720
Loss on disposition of property and equipment 0 37,478
Non-cash interest expense 221,209 259,865
Non-cash gain on change in fair value of warrant liability (236,400) 0
Amortization of premium/discount on marketable investment securities (164,306) (198,344)
Changes in operating assets and liabilities:    
Accrued interest income 21,992 (15,447)
Litigation insurance recovery 0 3,319,927
Prepaid and other current assets (25,774) (111,886)
Accounts payable 510,961 73,210
Litigation settlement payable 0 (4,250,000)
Accrued expenses (37,832) (1,009,921)
Cash used in operating activities (11,666,217) (12,078,825)
Cash flows from investing activities:    
Refund of rental deposit 0 7,000
Purchases of marketable investment securities (16,851,568) (25,552,679)
Maturities of marketable investment securities 19,849,795 36,838,960
Cash provided by investing activities 2,998,227 11,293,281
Cash flows from financing activities:    
Proceeds from debt 0 10,000,000
Debt repayments (3,333,334) 0
Proceeds from stock option exercises 56,200 0
Proceeds from sale of Class A and Class B units 5,595,542 0
Proceeds from exercise of pre-funded warrants 155 0
Net proceeds from sale of common stock through ATM 8,000,411 652,334
Cash provided by financing activities 10,318,974 10,652,334
Net increase in cash and cash equivalents 1,650,984 9,866,790
Cash, cash equivalents and restricted cash at beginning of period 13,077,539 3,210,749
Cash, cash equivalents and restricted cash at end of period 14,728,523 13,077,539
Supplemental disclosure of cash flow information:    
Interest paid 545,536 533,542
Income taxes paid 700 700
Supplemental disclosure of non-cash investing and financing activities:    
Unrealized net gain on marketable investment securities 925 3,653
Accrued final payment charge on debt 221,209 259,865
Allocation of equity offering proceeds to warrant liability $ 4,827,600 $ 0