Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Cash Flows

v3.21.4
Consolidated Statement of Cash Flows - USD ($)
 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net loss $ (25,409,301) $ (17,384,520)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation 3,696,384 5,194,784
Research and development expense, Vera acquisition 2,888,029 0
Change in fair value of warrant liabilities (950,151) 453,808
Depreciation and amortization 403,043 280,463
Loss on marketable securities (25,012) 0
Loss on disposal of fixed asset (31,853) (3,230)
Equity in losses on equity method investment 224,534 262,861
Gain on sale of intellectual property (316,724) 0
Non-cash expense from right-of-use assets 172,478 0
Changes in operating assets and liabilities    
Prepaid insurance, other prepaid expenses and current assets (666,945) 264,442
Long-term prepaid insurance 145,250 193,666
Security deposit (253,615) 0
Other long-term assets (160,420) 0
Accounts payable 294,548 (129,088)
Accrued expenses and other current liabilities 943,442 150,283
Operating lease liability 58,899 0
Net cash used in operating activities (18,873,684) (10,710,071)
Cash flows from investing activities    
Purchase of laboratory and office equipment (1,438,415) (716,820)
Purchase of marketable securities (59,988,511) 0
Sale of marketable securities 59,963,499 0
Cash paid for Vera acquisition (1,100,040) 0
Net cash used in investing activities (2,563,467) (716,820)
Cash flows from financing activities    
Principal payment of financed insurance (381,797) (349,792)
Principal payment of finance lease liability (8,770) 0
Proceeds from issuance of stock, net of issuance costs 42,616,376 33,283,970
Proceeds from exercise of stock options 112,446 171,030
Net cash provided by financing activities 42,338,255 33,105,208
Net increase in cash and cash equivalents 20,901,104 21,678,317
Cash and cash equivalents, beginning of period 31,992,283 10,313,966
Cash and cash equivalents, end of period 52,893,387 31,992,283
Supplemental disclosure of cash flow information:    
Cash paid for interest 0 3,244
Cash paid for income taxes 0 0
Non-cash investing and financing activities:    
Issuance of common stock, Vera acquisition 1,759,220 0
Purchases of laboratory and office equipment in accounts payable 8,295 156,978
Preferred shares in DepYmed received as consideration for sale of intellectual property 316,724 0
Insurance financed through note payable 391,625 365,430
Deferred offering costs accrued $ 160,420 $ 0