Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.22.2
Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net loss $ (26,144,562) $ (18,250,869)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation 2,387,078 2,743,875
Research and development expense, Vera acquisition 0 2,888,029
Change in fair value of warrant liabilities 0 (936,256)
Depreciation and amortization 567,744 251,701
Loss on marketable securities 30 15,024
Loss on disposal of fixed assets 0 1,087
Equity in losses on equity method investment 415,744 98,754
Gain on sale of intellectual property 0 (316,724)
Amortization of right-of-use assets 359,306 69,423
Changes in operating assets and liabilities    
Prepaid insurance, other prepaid expenses and current assets 260,386 (166,420)
Long-term prepaid insurance 0 145,250
Security deposit (19,600) (253,565)
Other long-term assets 160,423 0
Accounts payable (164,339) (173,913)
Accrued expenses and other current liabilities 121,114 394,258
Operating lease liability (317,236) 58,809
Net cash used in operating activities (22,373,912) (13,431,537)
Cash flows from investing activities    
Purchase of laboratory and office equipment (442,905) (1,096,781)
Purchase of marketable securities (14,986,818) (44,992,196)
Sale of marketable securities 14,986,788 44,977,172
Cash paid for Vera acquisition 0 (1,100,040)
Net cash used in investing activities (442,935) (2,211,845)
Cash flows from financing activities    
Principal payment of financed insurance (148,385) (235,248)
Principal payment of finance lease liability (81,372) 0
Proceeds from issuance of stock, net of issuance costs 0 42,616,376
Proceeds from exercise of stock options 42 112,446
Net cash (used in) provided by financing activities (229,715) 42,493,574
Net (decrease) increase in cash and cash equivalents (23,046,562) 26,850,192
Cash and cash equivalents, beginning of period 52,893,387 31,992,283
Cash and cash equivalents, end of period 29,846,825 58,842,475
Supplemental disclosure of cash flow information:    
Cash paid for interest 0 10,400
Cash paid for income taxes 0 0
Non-cash investing and financing activities:    
Issuance of common stock, Vera acquisition 0 1,759,220
Purchases of laboratory and office equipment in accounts payable 12,243 188,452
Preferred shares in DepYmed received as consideration for sale of intellectual property 0 316,724
Insurance financed through note payable 0 391,625
Right-of-use asset obtained in exchange for operating lease liabilities $ 164,613 $ 0