v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net loss $ (9,036,495) $ (6,012,335) $ (15,573,458) $ (10,624,804)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization 277,132 116,001 395,194 234,394  
Loss on disposal of fixed assets     4,155 0  
Stock-based compensation 311,363 310,945 547,240 733,125  
Amortization of debt discount     374,389 294,498  
Amortization of license revenue     (71,417) (71,417)  
Changes in operating assets and liabilities, net of acquisition:          
Accounts receivable     (1,274,246) 97,753  
Inventories     66,766 (763,553)  
Prepaid expenses     (1,298,991) (527,032)  
Other assets     (475,291) 0  
Accounts payable     1,763,025 1,034,093  
Accrued expenses     1,384,140 (363,884)  
Other current liabilities     (15,280) (15,280)  
Net cash used in operating activities     (14,173,774) (9,972,107)  
CASH FLOWS FROM INVESTING ACTIVITIES:          
Sales of short-term investments     5,390,184 0  
Purchase of short-term investments     0 (4,902,786)  
Purchase of property and equipment     (96,557) (58,034)  
Cash acquired in acquisition transaction     12,500,000 0  
Net cash provided by (used in) investing activities     17,793,627 (4,960,820)  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Principal payments on note payable     (2,777,778) 0 $ 0
Proceeds from issuance of common stock, net of offering expenses     0 13,072,741  
Proceeds from issuance of related party note payable     15,000,000 0 0
Proceeds from issuance of note payable     0 4,000,000  
Payment of debt issuance costs     (174,839) (24,200)  
Payments of leasehold improvement loan     (8,094) (7,400)  
Net cash provided by financing activities     12,039,289 17,041,141  
NET INCREASE IN CASH AND CASH EQUIVALENTS     15,659,142 2,108,214  
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD     9,914,867 10,440,959 10,440,959
CASH AND CASH EQUIVALENTS - END OF PERIOD $ 25,574,009 $ 12,549,173 $ 25,574,009 $ 12,549,173 $ 9,914,867

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