v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net loss $ (18,250,869) $ (12,683,708)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation 2,743,875 4,054,351
Research and development expense, Vera acquisition 2,888,029  
Change in fair value of warrant liabilities (936,256) 909,474
Depreciation and amortization 251,701 230,715
Loss on marketable security (15,024)  
Loss on disposal of fixed asset (1,087) (3,230)
Equity in losses on equity method investment 98,754 218,589
Gain on sale of intellectual property (316,724)  
Amortization of right-of-use assets 69,423  
Changes in operating assets and liabilities    
Prepaid insurance, other prepaid expenses and current assets (166,420) 117,068
Long-term prepaid insurance 145,250 145,250
Security deposit (253,565)  
Accounts payable (173,913) (166,684)
Accrued expenses and other current liabilities 394,258 29,375
Operating lease liability 58,809  
Net cash used in operating activities (13,431,537) (7,142,340)
Cash flows from investing activities    
Purchase of laboratory and office equipment (1,096,781) (362,915)
Purchase of marketable securities (44,992,196)  
Sale of marketable securities 44,977,172  
Cash paid for Vera acquisition (1,100,040)  
Net cash used in investing activities (2,211,845) (362,915)
Cash flows from financing activities    
Principal payment of financed insurance (235,248) (167,925)
Proceeds from issuance of stock, net of issuance costs 42,616,376 33,283,970
Proceeds from exercise of stock options 112,446  
Net cash provided by financing activities 42,493,574 33,116,045
Net increase in cash and cash equivalents 26,850,192 25,610,790
Cash and cash equivalents, beginning of period 31,992,283 10,313,966
Cash and cash equivalents, end of period 58,842,475 35,924,756
Supplemental disclosure of cash flow information:    
Cash paid for interest 10,400 3,244
Cash paid for income taxes 0 0
Non-cash investing and financing activities:    
Issuance of common stock, Vera acquisition 1,759,220  
Purchases of laboratory and office equipment in accounts payable 188,452  
Preferred shares in DepYmed received as consideration for sale of intellectual property (316,724)  
Insurance financed through note payable $ 391,625 $ 365,430

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