Cash Flow

v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating activities    
Net loss $ (14,424,883) $ (12,550,493)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 122,315 60,058
Stock-based compensation 4,516,371 3,459,992
Issuance of restricted stock for services 236,666 164,000
Amortization and accretion related to notes payable 309,213 337,151
Increase (decrease) in operating assets and liabilities:    
Grant receivable 0 757,562
Other receivables (7,061) 0
Prepaid expenses and other (62,672) 122,522
Accounts payable 403,210 (2,476,130)
Accrued clinical operations and site costs 283,864 275,105
Accrued compensation (28,307) 77,437
Other accrued expenses (51,649) 150,487
Net cash used in operating activities (8,702,932) (9,622,309)
Investing activities    
Purchases of property and equipment (21,072) (412,498)
Net cash used in investing activities (21,072) (412,498)
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 3,647,391 8,572,343
Private offering, net of issuance costs 125,000 0
Underwritten offering, net of issuance costs 1,189,417 0
Registered direct offering, net of issuance costs 1,852,361 0
Registered direct offering, net of issuance costs 1,215,000 0
Principal payments on bank loan (972,223) 0
Principal payments of financed insurance policies (69,240) (106,405)
Principal payments on capital lease (10,785) (6,504)
Purchase of vested employee stock in connection with tax withholding obligation 0 (177,823)
Net cash provided by financing activities 7,797,492 12,891,935
Net change in cash and cash equivalents (926,512) 2,857,128
Cash and cash equivalents at beginning of period 3,979,290 4,084,085
Cash and cash equivalents at end of period 3,052,778 6,941,213
Supplemental disclosure:    
Cash paid during the period for income taxes 1,600 1,600
Cash paid during the period for interest on term note 443,495 379,560
Supplemental disclosures of non-cash investing and financing information:    
Purchase of equipment in accounts payable 0 82,006
Fair value of warrants issued 0 607,338
Fair value of repricing of warrants issued in previous financing 19,413 0
Conversion of Series D preferred stock to common stock 11,944 7,974
Conversion of Series I preferred stock to common stock 9,202 0
Conversion of Series J preferred stock to common stock 15,682 0
Deemed dividends on inducement shares 5,220,000 0
Deemed dividends on incentive shares 3,120,000 0
Capital lease in connection with purchase of equipment 0 95,656
Financing transaction costs not yet paid $ 52,317 $ 2,500

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