Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net loss $ (7,744,500) $ (3,126,800)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 34,500 25,400
Stock-based compensation 590,400 674,600
Expense related to write-off of deferred offering costs 232,100 0
Changes in operating assets and liabilities:    
Receivable from collaboration partner (3,400) 0
Prepaid expenses and other current assets (1,036,300) 39,200
Right of use asset - operating lease 94,300 87,500
Operating lease liability (84,500) (72,200)
Deferred sublicense revenue, net of deferred contract acquisition costs (320,800) 0
Accounts payable and accrued expenses 2,065,300 (434,400)
Net cash used in operating activities (6,172,900) (2,806,700)
Cash flows from property and investing activities:    
Purchases of laboratory and other equipment (149,900) 0
Net cash used in investing activities (149,900) 0
Cash flows from financing activities:    
Net proceeds from issuance of common stock and warrants, including option exercises 44,500 62,600
Net proceeds from exercise of warrants 1,109,700 0
Payments related to registration of shares underlying At the Market (ATM) facility and outstanding warrants (161,900) (29,400)
Net proceeds from sale of common stock under equity line 0 2,790,600
Proceeds from issuance of note under Payroll Protection Plan 0 224,400
Repayment of capital lease obligations (900) (800)
Repayment of notes payable 0 (49,900)
Net cash provided by financing activities 991,400 2,997,500
Net increase (decrease) in cash and cash equivalents (5,331,400) 190,800
Cash and cash equivalents at beginning of period 103,108,300 1,355,100
Cash and cash equivalents at end of period 97,776,900 1,545,900
Supplemental disclosure of noncash activities:    
Insurance premiums settled by issuing note payable 0 322,200
Accrued dividends on Series B Preferred $ 361,800 $ 335,800