Statements of Cash Flows (USD $)
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12 Months Ended | |
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Dec. 31, 2014
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Dec. 31, 2013
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Operating activities: | ||
Net loss | $ (49,700,875)us-gaap_NetIncomeLoss | $ (23,251,435)us-gaap_NetIncomeLoss |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 239,390us-gaap_DepreciationDepletionAndAmortization | 706,779us-gaap_DepreciationDepletionAndAmortization |
Stock-based compensation | 2,383,399us-gaap_ShareBasedCompensation | 927,996us-gaap_ShareBasedCompensation |
Noncash interest expense on loans | 33,442us-gaap_PaidInKindInterest | 121,160us-gaap_PaidInKindInterest |
Loss on disposal of assets | 5,015us-gaap_GainLossOnDispositionOfAssets1 | |
Revaluation of warrant liability | (122,412)us-gaap_FairValueAdjustmentOfWarrants | (241,478)us-gaap_FairValueAdjustmentOfWarrants |
Changes in operating assets and liabilities: | ||
Prepaid expenses, offering costs and other assets | 3,196,559us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets | (3,667,605)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets |
Accounts payable and other liabilities | 4,187,552us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities | 1,165,353us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities |
Net cash used in operating activities | (39,777,930)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations | (24,239,230)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations |
Investing activities: | ||
Purchase of property and equipment | (440,381)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | (140,036)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment |
Purchase of marketable securities | (70,717,422)us-gaap_PaymentsToAcquireMarketableSecurities | |
Net cash used in investing activities | (71,157,803)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations | (140,036)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations |
Financing activities: | ||
Proceeds from issuance of redeemable convertible preferred stock and warrants, net | 59,918,917us-gaap_ProceedsFromIssuanceOfConvertiblePreferredStock | |
Proceeds from exercise of common stock options | 111,778us-gaap_ProceedsFromStockOptionsExercised | 83,555us-gaap_ProceedsFromStockOptionsExercised |
Proceeds from exercise of preferred stock warrants | 550,000us-gaap_ProceedsFromWarrantExercises | |
Proceeds from loans payable | 1,775,012us-gaap_ProceedsFromIssuanceOfDebt | |
Proceeds from issuance of common stock, net | 107,290,323us-gaap_ProceedsFromIssuanceOfCommonStock | |
Repayment of loans payable | (4,946,667)us-gaap_RepaymentsOfDebt | |
Capital lease payments | (1,019)us-gaap_RepaymentsOfLongTermCapitalLeaseObligations | |
Net cash provided by financing activities | 109,176,094us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations | 55,605,805us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations |
Net increase (decrease) in cash and cash equivalents | (1,759,639)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | 31,226,539us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
Cash and cash equivalents, beginning of period | 37,965,198us-gaap_CashAndCashEquivalentsAtCarryingValue | 6,738,659us-gaap_CashAndCashEquivalentsAtCarryingValue |
Cash and cash equivalents-end of period | 36,205,559us-gaap_CashAndCashEquivalentsAtCarryingValue | 37,965,198us-gaap_CashAndCashEquivalentsAtCarryingValue |
Supplemental disclosure of cash flow information: | ||
Cash paid for interest | 37,209us-gaap_InterestPaid | 85,422us-gaap_InterestPaid |
Capital lease additions | 14,259us-gaap_CapitalLeaseObligationsIncurred | |
Common Stock | ||
Supplemental disclosure of cash flow information: | ||
Fair value of stock warrants issued |
$ 1,000us-gaap_StockIssued1 / us-gaap_StatementClassOfStockAxis = us-gaap_CommonStockMember |
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- Definition
The increase during the period in capital lease obligations due to entering into new capital leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of expense (income) related to adjustment to fair value of warrant liability. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of gain (loss) on sale or disposal of assets, including but not limited to property plant and equipment, intangible assets and equity in securities of subsidiaries or equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Interest paid other than in cash for example by issuing additional debt securities. As a noncash item, it is added to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Cash outflow for purchase of trading, available-for-sale securities and held-to-maturity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash inflow from issuance of preferred stocks identified as being convertible into another form of financial instrument, typically the entity's common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash inflow during the period from additional borrowings in aggregate debt. Includes proceeds from short-term and long-term debt. No definition available.
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The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash inflow associated with the amount received from holders exercising their stock warrants. No definition available.
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- Definition
The cash outflow during the period from the repayment of aggregate short-term and long-term debt. Excludes payment of capital lease obligations. No definition available.
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- Definition
The cash outflow for the obligation for a lease meeting the criteria for capitalization (with maturities exceeding one year or beyond the operating cycle of the entity, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The fair value of stock issued in noncash financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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