Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating activities:    
Net loss $ (25,137,425) $ (16,240,511)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 268,213 175,387
Stock-based compensation 1,962,018 1,426,341
Loss on disposal of fixed assets 87,087  
Changes in operating assets and liabilities:    
Accounts receivable (2,336,887)  
Prepaid expenses and other assets 723,613 (2,161,864)
Deferred revenue 77,980,688 4,698,803
Accounts payable (145,232) 3,304,055
Accrued expenses and other current liabilities 1,046,372 1,139,045
Net cash provided by (used in) operating activities 54,448,447 (7,658,745)
Investing activities:    
Purchase of property and equipment (1,141,727) (322,706)
Proceeds from sale of property and equipment 10,888  
Net cash used in investing activities (1,130,839) (322,706)
Financing activities:    
Proceeds from exercise of options 366,200  
Proceeds from exercise of warrants 3,126,778  
Issuance of common and preferred stock, net of issuance costs   15,221,021
Net cash provided by financing activities 3,492,978 15,221,021
Effect of exchange rate change on cash and cash equivalents 3,755,098 (30,993)
Net increase in cash and cash equivalents 60,565,685 7,208,577
Cash and cash equivalents at beginning of year 29,355,528 29,349,124
Cash and cash equivalents at end of year 89,921,213 36,557,701
Supplemental cash flow disclosures:    
Property and equipment included in accounts payable $ 120,727 $ 83,435