Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash Flows From Operating Activities:    
Net loss $ (21,438,164) $ (17,626,037)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 2,854,100 3,077,814
Depreciation expense 46,303 57,670
Gain on change in fair value of derivative liabilities (265,714) (2,399,639)
(Increase) decrease in:    
Prepaid expenses and other current assets 1,163,499 (755,229)
Increase (decrease) in:    
Accounts payable and accrued expenses (744,847) 1,097,044
Net Cash Used In Operating Activities (18,384,823) (16,548,377)
Cash Flows From Investing Activities:    
Purchase of property and equipment (23,480) (42,729)
Payment for security deposit (49,859)
Increase of restricted cash (356,141)
Net Cash Used In Investing Activities (379,621) (92,588)
Cash Flows From Financing Activities:    
Payments on note payable (265,695)
Sales of common stock and warrants, net of offering costs 18,787,105 6,772,667
Proceeds from the exercise of options 18,105
Net Cash Provided By Financing Activities 18,787,105 6,525,077
Net change in cash and cash equivalents 22,661 (10,115,888)
Cash and cash equivalents at beginning of period 20,519,294 25,643,273
Cash and cash equivalents at end of period 20,541,955 15,527,385
Supplemental disclosures of cash flow information:    
Cash paid for interest 5,007
Cash paid for income taxes
Supplemental disclosure of non-cash investing and financing activities:    
Transfer warrant derivatives from liability to equity classification 17,455
Cashless exercise of warrants $ 4