Annual report pursuant to Section 13 and 15(d)

Balance Sheets

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Balance Sheets - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 46,773,566 $ 36,205,559
Marketable securities 125,864,447 70,698,640
Prepaid expenses and other current assets 1,892,217 669,155
Total current assets 174,530,230 107,573,354
Property and equipment, net 696,280 553,294
Restricted cash 112,620 112,410
Intangible asset, net 14,844  
Total assets 175,353,974 108,239,058
Current liabilities:    
Accounts payable 6,749,625 4,342,480
Accrued expenses and other current liabilities 3,029,782 2,578,269
Deferred revenue 3,750,000  
Deferred rent 43,907 38,359
Total current liabilities 13,573,314 6,959,108
Loans payable, net 18,185,898 1,692,884
Capital lease, net of current portion 7,942 10,677
Deferred rent, net of current portion 238,917 281,885
Warrant liability 153,238 82,851
Other long term liabilities 63,200 8,025
Total liabilities $ 32,222,509 $ 9,035,430
Commitments and contingencies (Note 8)
Stockholders' equity:    
Common stock - $0.001 par value; 100,000 shares authorized, 50,802,603 and 39,241,173 shares issued and outstanding at December 31, 2015 and 2014, respectively $ 50,802 $ 39,241
Preferred stock - $0.001 par value; 5,000,000 shares authorized, none issued
Additional paid-in capital $ 325,784,484 $ 231,152,894
Accumulated deficit (182,497,965) (131,969,725)
Accumulated other comprehensive income (loss) (205,856) (18,782)
Total stockholders' equity 143,131,465 99,203,628
Total liabilities, redeemable convertible preferred stock and stockholders' equity $ 175,353,974 $ 108,239,058