Quarterly report pursuant to Section 13 or 15(d)

Statement of Cash Flows

v3.10.0.1
Statement of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net loss $ (2,337,471) $ (15,841,289)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock compensation expense (non-cash) 296,340 242,016
In process research and development (non-cash) 0 13,501,622
Changes in operating assets and liabilities, net    
Other current assets (120,170) 12,777
Accounts payable and accrued expenses 26 273,427
Net cash used in operating activities (2,161,275) (1,811,447)
Cash flows from financing activities:    
Proceeds from the sale of common stock, net of $42,400 of issuance costs 0 4,695,646
Cash received from Gem, net of transaction costs 0 4,830,742
Net cash provided by financing activities 0 9,526,388
Effect of exchange rates on cash, cash equivalents, and restricted cash (2,385) 0
Net increase (decrease) in cash, cash equivalents, and restricted cash (2,163,660) 7,714,941
Cash, cash equivalents and restricted cash at beginning of period 9,781,925 2,873,004
Cash, cash equivalents and restricted cash at end of period $ 7,618,265 $ 10,587,945