Cash Flow

v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating activities    
Net loss $ (5,354,854) $ (4,404,770)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 41,823 8,340
Stock-based compensation 1,032,811 1,533,888
Issuance of restricted stock for services 56,600 64,000
Amortization and accretion related to notes payable 111,775 71,547
Increase (decrease) in operating assets and liabilities:    
Grant receivable 0 483,924
Other receivables 22,831 0
Prepaid expenses and other (810) 69,650
Accounts payable 540,413 (1,060,796)
Accrued clinical operations and site costs 378,195 81,949
Accrued compensation (66,270) (98,927)
Other accrued expenses 59,849 339,565
Net cash used in operating activities (3,177,637) (2,911,630)
Investing activities    
Purchases of property and equipment 0 (153,899)
Net cash used in investing activities 0 (153,899)
Financing activities    
Cash received from issuance of note payable, net of financing costs 0 4,610,324
Principal payments on note payable (138,889) 0
Principal payments of financed insurance policies (61,883) 0
Principal payments on capital lease (4,120) 0
Net cash (used in) provided by financing activities (204,892) 4,610,324
Net change in cash and cash equivalents (3,382,529) 1,544,795
Cash and cash equivalents at beginning of period 3,979,290 4,084,085
Cash and cash equivalents at end of period 596,761 5,628,880
Supplemental disclosures of non-cash investing and financing information:    
Capital lease in connection with purchases of equipment 0 95,656
Purchase of equipment in accounts payable 0 109,471
Fair value of warrants issued $ 0 $ 607,338

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