v3.19.2
Condensed Consolidated Balance Sheets - USD ($)
Apr. 30, 2019
Jul. 31, 2018
Current assets    
Cash and cash equivalents $ 22,257,659 $ 3,803,627
Prepaid expenses and other current assets 2,286,271 1,643,749
Investment securities 998,938 23,174,447
Total Current Assets 25,542,868 28,621,823
Property and equipment, net 1,092,109 1,265,662
Other long-term assets 357,533 358,987
Total Assets 26,992,510 30,246,472
Current liabilities    
Accounts payable and accrued liabilities 3,836,280 4,778,892
Accrued compensation and related 1,061,075 1,070,744
Note payable 165,768
Total Current Liabilities 5,063,123 5,849,636
Other long-term liabilities 752,393 1,472,630
Total Liabilities 5,815,516 7,322,266
Commitments and Contingencies (Note 9)
Stockholders' Equity    
Common stock authorized - 16,000,000 common shares with a par value of $0.0001, common stock issued and outstanding - 7,111,258 and 5,351,162 common shares as of April 30, 2019 and July 31, 2018, respectively 711 535
Additional paid-in capital 166,751,031 145,749,189
Warrants issued and outstanding - 892,890 and 895,805 warrants as of April 30, 2019 and July 31, 2018, respectively 11,171,166 11,271,327
Accumulated other comprehensive income (loss) 108,651 (16,024)
Accumulated deficit (156,854,565) (134,080,821)
Total Stockholders' Equity 21,176,994 22,924,206
Total Liabilities and Stockholders' Equity $ 26,992,510 $ 30,246,472

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v3.19.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Apr. 30, 2019
Apr. 30, 2018
Apr. 30, 2019
Apr. 30, 2018
Income Statement [Abstract]        
Revenue
Expenses:        
Research and development 4,222,193 4,153,228 13,708,168 10,561,314
General and administrative 2,691,796 5,138,942 9,189,293 12,943,077
Loss from operations (6,913,989) (9,292,170) (22,897,461) (23,504,391)
Other income, net 113,360 91,217 333,665 148,731
Interest expense (987) (987)
Loss on disposal of property and equipment (859,600) (875,098)
Foreign currency exchange loss, net (77,965) (185,967)
Realized loss on sale of securities, net (12,134)
Warrant inducement expense (2,465,396)
Loss before income taxes (6,879,581) (10,060,553) (22,762,884) (26,696,154)
Provision for income taxes 3,520 10,860 952
Net loss $ (6,883,101) $ (10,060,553) $ (22,773,744) $ (26,697,106)
Basic and diluted net loss per common share $ (1.03) $ (1.98) $ (3.71) $ (7.46)
Weighted average shares used in computing basic and diluted net loss per common share 6,664,863 5,087,250 6,146,676 3,580,669

Source

v3.19.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Apr. 30, 2019
Apr. 30, 2018
Operating activities    
Net loss $ (22,773,744) $ (26,697,106)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 183,435 273,136
Loss on disposal of property and equipment, net 875,098
Warrant inducement expense 2,465,396
Amortization of discount on investments (50,419) (1,052)
Stock-based compensation 2,988,349 5,904,920
Common stock issued for services 657,504 1,443,650
Modification of equity award 135,425  
Foreign currency exchange loss, net 185,967
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (427,217) (898,296)
Other long-term assets (8,538) (52,575)
Accounts payable and accrued liabilities (1,072,096) (578,006)
Accrued compensation (9,670) 245,500
Other long-term liabilities (720,237) 19,141
Net cash used in operating activities (20,911,241) (17,000,194)
Investing activities    
Purchases of property and equipment (9,882) (51,666)
Purchase of investment securities (23,234,225)
Maturity of investment securities 16,236,000
Sale of investment securities 5,977,794
Net cash provided by (used in) investing activities 22,203,912 (23,285,891)
Financing activities    
Proceeds from issuance of common stock through ESPP 23,390 35,809
Proceeds from issuance of common stock and/or warrants 17,519,930 32,283,444
Payment of financing and offering costs (844,274) (3,577,214)
Proceeds from exercise of options 566,135 226,285
Proceeds from exercise of warrants 9,999,983
Principal payments on note payable (20,218)
Tax withholdings paid on equity awards (86,430)
Tax withholdings paid related to net share settlement of equity awards (32,505)
Tax shares sold to pay for tax withholdings on equity awards 68,739
Net cash provided by financing activities 17,194,767 38,968,307
Effect of exchange rate changes on cash and cash equivalents (33,406) (7,933)
Net increase (decrease) in cash and cash equivalents 18,454,032 (1,325,711)
Cash and cash equivalents, at beginning of period 3,803,627 11,444,676
Cash and cash equivalents, at end of period 22,257,659 10,118,965
Supplemental disclosure for cash flow information:    
Interest 987
Income taxes 1,700 951
Noncash investing and financing transactions:    
Expiration of warrants 100,161 1,200,742
Amounts accrued for offering costs 114,406 70,000
Note issued for insurance premium $ 185,990

Source