Cash Flow

v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities    
Net loss $ (11,344,722) $ (8,192,745)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 83,933 32,466
Stock-based compensation 3,502,636 2,491,451
Issuance of restricted stock for services 63,550 64,000
Amortization and accretion related to notes payable 215,195 223,352
Increase (decrease) in operating assets and liabilities:    
Grant receivable 0 757,562
Other receivables 22,829 0
Prepaid expenses and other 146,967 56,318
Accounts payable 931,817 (877,179)
Accrued clinical operations and site costs 424,738 100,116
Accrued compensation (131,464) (80,227)
Other accrued expenses 59,216 199,752
Net cash used in operating activities (6,025,305) (5,225,134)
Investing activities    
Purchases of property and equipment (4,142) (316,846)
Net cash used in investing activities (4,142) (316,846)
Financing activities    
Cash receipt from bank loan, net of financing costs 0 4,610,324
Private offering, net of issuance costs 820,571 0
Underwritten offering, net of issuance costs 3,702,257 0
Principal payments on bank loan (555,556) 0
Principal payments of financed insurance policies (61,883) 0
Principal payments on capital lease (8,326) (2,555)
Purchase of vested employee stock in connection with tax withholding obligation 0 (177,823)
Net cash provided by financing activities 3,897,063 4,429,946
Net change in cash and cash equivalents (2,132,384) (1,112,034)
Cash and cash equivalents at beginning of period 3,979,290 4,084,085
Cash and cash equivalents at end of period 1,846,906 2,972,051
Supplemental disclosure:    
Cash paid during the period for income taxes 1,600 14,546
Cash paid during the period for interest on term note 302,256 226,029
Supplemental disclosures of non-cash investing and financing information:    
Purchase of equipment in accounts payable 16,930 109,471
Fair value of warrants issued 0 607,338
Fair value of repricing of warrants issued in previous financing 19,413 0
Deemed dividends on inducement shares 5,220,000 0
Capital lease in connection with purchase of equipment 0 95,656
Conversion of Series D preferred stock to common stock $ 4,647 $ 0

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