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Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net loss $ (8,434,543) $ (15,651,274)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation expense 14,150 21,278
Loss on disposition of property and equipment 37,478 0
Stock-based compensation expense 1,124,970 2,217,709
Non-cash interest expense 194,898 0
Amortization of discount on marketable investment securities (159,226) (56,530)
Changes in operating assets and liabilities:    
Accrued interest income (6,825) 29,687
Prepaid and other current assets (320,255) (123,898)
Accounts payable (358,148) 557,904
Litigation insurance recovery 3,319,927 0
Litigation settlement payable (4,250,000) 0
Accrued expenses (1,008,424) 600,061
Cash used in operating activities (9,845,998) (12,405,063)
Cash flows from investing activities:    
Refund of rental deposit 7,000 0
Purchases of marketable investment securities (20,698,650) (24,746,690)
Maturities of marketable investment securities 27,038,944 29,682,000
Cash provided by investing activities 6,347,294 4,935,310
Cash flows from financing activities:    
Proceeds from debt 10,000,000 0
Proceeds from stock option exercises 0 534,977
Net proceeds from common stock offering 90,761 10,644,883
Cash provided by financing activities 10,090,761 11,179,860
Net increase in cash, cash equivalents, and restricted cash 6,592,057 3,710,107
Cash, cash equivalents, and restricted cash at beginning of period 3,210,749 5,560,716
Cash, cash equivalents, and restricted cash at end of period 9,802,806 9,270,823
Supplemental disclosure of cash flow information:    
Interest paid 427,639 0
Income taxes paid 700 700
Supplemental disclosure of non-cash investing and financing activity:    
Net unrealized gain on available-for-sale securities 763 7,960
Accrued final payment charge on debt $ 194,898 $ 0