v3.19.1
Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:    
Net loss $ (15,705,865) $ (9,833,152)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 79,128 57,526
Loss on disposal of property and equipment 1,084
Stock-based compensation 4,318,993 1,633,485
Amortization of debt discount 311,125 59
Amortization of debt issuance costs 14,025  
Discount on investments 29,583
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (96,356) (53,452)
Accounts payable 650,720 388,721
Accrued liabilities 102,655 116,378
Accrued payroll and other compensation 164,528 55,492
Net cash used in operating activities (10,130,380) (7,634,943)
Cash flows from investing activities:    
Purchases of property and equipment (423,342) (3,253)
Patent costs 1,739 (23,343)
Payment for security deposit (9,889) (10,094)
Purchases of investments (41,402,000) (21,414,722)
Proceeds from redemptions of investments 30,541,000 21,214,675
Net cash used in investing activities (11,292,492) (236,737)
Cash flows from financing activities:    
Proceeds from notes payable 3,902,500
Debt issuance costs (57,923)
Proceeds from the Controlled Equity Offering, net 19,304,081  
Proceeds from exercise of warrants 678,240 2,487,496
Repayment of note payable (205,260)
Proceeds from private offering, net 5,026,181
Proceeds from exercise of employee stock options 494,866 129,255
Net cash provided by financing activities 24,321,764 7,437,672
Net increase (decrease) in cash 2,898,892 (434,008)
Cash at beginning of period 2,823,450 3,257,458
Cash at end of period 5,722,342 2,823,450
Non-cash investing and financing activities:    
Warrants issued in connection with note payable 1,253,390
Cash paid for:    
Income taxes 1,508 2,057
Interest $ 29,007

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