Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss

v3.7.0.1
Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues $ 2,500 $ 2,500 $ 5,000 $ 5,000
Operating expenses:        
Research and development expenses 2,585,079 2,474,629 5,487,165 5,540,219
General and administrative expenses 1,635,652 1,362,140 2,968,073 4,532,662
Total operating expenses 4,220,731 3,836,769 8,455,238 10,072,881
Operating loss (4,218,231) (3,834,269) (8,450,238) (10,067,881)
Other income (expense):        
Interest income 14,013 13,433 34,896 24,569
Interest expense (15,728) (322,407) (154,460) (708,913)
Change in fair value of derivative instruments (341,611) 757,275 (3,082,925) 757,275
Fees related to issuance of derivative instruments, warrant inducement and other expenses (87,635) (466,541) (563,719) (463,342)
Total other income (expense) (430,961) (18,240) (3,766,208) (390,411)
Net loss $ (4,649,192) $ (3,852,509) $ (12,216,446) $ (10,458,292)
Net loss per share - basic and diluted (in dollars per share) $ (0.39) $ (0.47) $ (1.06) $ (1.37)
Weighted average common shares outstanding - basic and diluted (in shares) 11,906,334 8,141,198 11,525,730 7,606,725
Comprehensive loss:        
Net loss $ (4,649,192) $ (3,852,509) $ (12,216,446) $ (10,458,292)
Foreign currency translation adjustment (384) 3,268 (555) 1,495
Comprehensive loss $ (4,649,576) $ (3,849,241) $ (12,217,001) $ (10,456,797)