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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities      
Net loss $ (104,793,141) $ (30,691,460) $ (26,868,198)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation expense 139,626 25,481 23,249
Share-based compensation expense 10,890,905 3,843,878 391,393
Issuance of stock for services 182,599 176,085  
Amortization of premiums on investment activities 712,675 297,223  
Changes in operating assets and liabilities:      
Accounts receivable 20,943 284,715 (35,889)
Prepaid expenses and other assets (6,737,125) (466,099) (574,341)
Accounts payable (419,860) (1,342,302) 3,353,459
Accrued liabilities and employee benefits (3,873,692) 5,065,329 2,785,736
Deferred revenue     (1,666,674)
Deferred rent 1,597,105    
Net cash used in operating activities (102,279,965) (22,807,150) (22,591,265)
Investing activities      
Purchases of investments (514,308,249) (103,601,836)  
Maturities of investments 153,389,448 36,879,308 1,500,000
Purchase of property and equipment (860,595) (11,762) (33,255)
Net cash (used in) provided by investing activities (361,779,396) (66,734,290) 1,466,745
Financing activities      
Proceeds from issuance of convertible promissory notes, net     100,000
Proceeds from stock option exercises 653,046 162,980 332,938
Proceeds from stock subscription   109,833 109,834
Proceeds of public offerings 449,996,887 116,191,285 43,841,850
Payment of costs of public offerings (756,313) (748,538) (3,754,706)
Net cash provided by financing activities 449,893,620 115,715,560 40,629,916
Net (decrease) increase in cash and cash equivalents (14,165,741) 26,174,120 19,505,396
Cash and cash equivalents at beginning of period 61,325,044 35,150,924 15,645,528
Cash and cash equivalents at end of period $ 47,159,303 61,325,044 35,150,924
Cash paid for interest   $ 7,073 $ 11,320