Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets

v3.5.0.2
Balance Sheets - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 11,879,545 $ 21,161,967
Grants receivable 650,488  
Prepaid expenses and other current assets 541,962 401,550
Restricted cash 58,832 58,832
Total current assets 13,130,827 21,622,349
Property and equipment, net 40,957 35,216
Total assets 13,171,784 21,657,565
Current liabilities:    
Current portion of long term debt, net of discount 3,390,993 3,208,074
Accounts payable 756,464 678,109
Accrued expenses and other current liabilities 2,403,596 1,885,458
Warrant liability 19,866 27,606
Unit purchase option liability 14,660 50,571
Total current liabilities 6,585,579 5,849,818
Long term debt, net of current portion and discount 611,103 2,353,482
Other long term liabilities 404,129 370,538
Total liabilities 7,600,811 8,573,838
Stockholders equity (deficit):    
Preferred stock - $0.001 par value; 5,000,000 shares authorized at June 30, 2016 and December 31, 2015; zero shares issued and outstanding at June 30, 2016 and December 31, 2015
Common Stock, $0.001 par value; 200,000,000 shares authorized at June 30, 2016 and December 31, 2015; 8,650,143 shares issued and outstanding at June 30, 2016 and December 31, 2015 8,650 8,650
Additional paid in capital 67,789,977 66,638,557
Accumulated deficit (62,227,654) (53,563,480)
Total stockholders' equity 5,570,973 13,083,727
Total liabilities and stockholders' equity $ 13,171,784 $ 21,657,565