Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating activities    
Net loss $ (5,908,068) $ (14,424,883)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 120,680 122,315
Stock-based compensation 1,307,162 4,516,372
Issuance of restricted stock for services 0 236,666
Amortization and accretion related to notes payable 190,729 309,213
Increase (decrease) in cash from changes in operating assets and liabilities:    
Other receivables 29,474 (7,061)
Prepaid expenses and other (189,916) (62,672)
Accounts payable 1,356,273 403,210
Accrued clinical operations and site costs 437,094 283,864
Accrued compensation (513) (28,307)
Other accrued expenses 36,648 (51,649)
Net cash used in operating activities (2,620,437) (8,702,932)
Investing activities    
Purchases of property and equipment 0 (21,072)
Net cash used in investing activities 0 (21,072)
Financing activities    
February 2018 private placement, net of issuance costs 2,700,000 0
May 2018 and 2017 private placements, net of issuance costs 830,000 820,571
Proceeds from issuance of common stock and Series G Preferred Stock, Net of costs, May 2017 0 3,647,391
Proceeds from issuance of common stock, net of costs, August 2017 0 125,000
Proceeds from issuance of Series J Preferred Stock, net of costs, August 2017 0 1,189,417
Proceeds from issuance of common stock, net of costs, September 2017 0 1,852,361
Proceeds from issuance of common stock, net of costs, September 2017 0 1,215,000
Principal payments on notes payable to Oxford Finance (833,333) (972,223)
Principal payments on financed insurance policies 21,140 (69,240)
Principal payments on capital lease (14,353) (10,785)
Purchase of vested employee stock in connection with tax withholding obligation (16,976) 0
Net cash provided by financing activities 2,686,478 7,797,492
Net change in cash and cash equivalents (66,041) (926,512)
Cash and cash equivalents at beginning of period 885,710 3,979,290
Cash and cash equivalents at end of period 951,751 3,052,778
Supplemental disclosure:    
Cash paid during the period for income taxes 1,900 1,600
Cash paid during the period for interest on notes payable and the capital lease 317,391 302,256
Supplemental disclosures of non-cash investing and financing information:    
Deemed dividend on issuance of inducement shares 1,388,179 5,220,000
Deemed dividend on issuance of incentive shares 0 3,120,000
Conversion of preferred stock to common stock - Series D 0 3,981
Conversion of preferred stock to common stock - Series I 509 3,067
Conversion of preferred stock to common stock - Series J 0 5,227
Conversion of preferred stock to common stock - Series L 6,944 0
Fair value of repricing of warrants issued in previous financing 0 19,413
Common stock issued upon vesting of RSUs $ 8,201 $ 0