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Financials

v3.6.0.2
Balance Sheets - USD ($)
Oct. 31, 2016
Oct. 31, 2015
Current Assets:    
Cash and Cash Equivalents $ 112,750,980 $ 66,561,683
Investments - Held-to-Maturity 39,336,548 45,594,495
Interest Receivable 80,142 145,299
Prepaid Expenses 812,830 338,841
Income Tax Receivable 2,549,862 1,609,349
Deferred Expenses 4,291,385 749,790
Other Current Assets 53,451 15,116
Total Current Assets 159,875,198 115,014,573
Property and Equipment (net of accumulated depreciation) 4,389,074 1,087,244
Intangible Assets (net of accumulated amortization) 4,329,121 3,355,033
Other Assets 450,667 148,843
TOTAL ASSETS 169,044,060 119,605,693
Current Liabilities:    
Accounts Payable 1,720,428 696,117
Accrued Expenses 10,905,003 3,191,941
Deferred Revenue 15,020,576
Lease Incentive Obligation 40,226
Short-term Convertible Notes and Fair Value of Embedded Derivative 29,549
Common Stock Warrant Liability 20,156
Total Current Liabilities 27,706,389 3,917,607
Deferred Rent 475,749
Deferred Revenue 21,234,568
Lease Incentive Obligation - net of current portion 325,160
Common Stock Warrant Liability 89,211
Total Liabilities 49,741,866 4,006,818
Commitments and Contingencies - Note 11
Shareholders' Equity:    
Preferred Stock, $0.001 par value; 5,000,000 shares authorized; Series B Preferred Stock; 0 shares issued and outstanding at October 31, 2016 and 2015. Liquidation preference of $0 at October 31, 2016 and 2015.
Common Stock - $0.001 par value; 65,000,000 shares authorized, 40,057,067 shares issued and 40,041,047 shares outstanding at October 31, 2016 and 33,591,882 shares issued and 33,574,963 shares outstanding at October 31, 2015. 40,057 33,592
Additional Paid-In Capital 327,098,749 249,807,303
Treasury Stock, at cost, 16,020 shares at October 31, 2016 and 16,919 shares October 31, 2015 (129,787) (187,761)
Accumulated Deficit (207,706,825) (134,054,259)
Total Shareholders' Equity 119,302,194 115,598,875
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 169,044,060 $ 119,605,693

Source

v3.6.0.2
Statements of Operations - USD ($)
12 Months Ended
Oct. 31, 2016
Oct. 31, 2015
Oct. 31, 2014
Income Statement [Abstract]      
Revenue $ 3,994,856 $ 1,000,000
Operating Expenses:      
Research and Development Expenses 48,774,589 24,426,967 8,862,854
General and Administrative Expenses 31,712,505 24,243,690 11,675,724
Total Operating Expenses 80,487,094 48,670,657 20,538,578
Loss from Operations (76,492,238) (48,670,657) (19,538,578)
Other Income (Expense):      
Interest Income 331,529 114,219 36,305
Net Changes in Fair Value of Derivative Liabilities 69,055 (48,950) 619,089
Other Income (Expense), Net (201) (35,079) 990
Net Loss Before Income Tax Benefit (76,091,855) (48,640,467) (18,882,194)
Income Tax Benefit 2,535,625 1,609,349 2,356,880
Net Loss $ (73,556,230) $ (47,031,118) $ (16,525,314)
Net Loss per Common Share, Basic and Diluted $ (2.08) $ (1.68) $ (0.97)
Weighted Average Number of Common Shares Outstanding, Basic and Diluted 35,400,980 28,026,197 17,106,577

Source

v3.6.0.2
Statement of Cash Flows - USD ($)
12 Months Ended
Oct. 31, 2016
Oct. 31, 2015
Oct. 31, 2014
OPERATING ACTIVITIES      
Net Loss $ (73,556,230) $ (47,031,118) $ (16,525,314)
Adjustments to reconcile Net Loss to net cash used in operating activities:      
Stock compensation 23,472,947 21,431,030 5,365,610
Non-cash interest expense 51
Loss (gain) on change in value of warrants and embedded derivative (69,055) 48,950 (619,089)
Warrant expense 8,170 4,446
Gain on disposal of property and equipment (10,000)
Loss on write-off of intangible assets 28,480
Settlement expense 34,125
Employee stock purchase plan 73,244 28,791 6,251
Depreciation of property and equipment 283,538 59,033 27,611
Amortization of intangible assets 252,654 206,357 175,686
Lease incentive obligation 365,386
Amortization of premium on held-to-maturity investments 252,730 60,608
Debt conversion expense 6,599
Gain on note retirement (6,243)
Change in operating assets and liabilities:      
Interest receivable 65,157 (145,299)
Prepaid expenses (473,989) (155,863) (151,723)
Income taxes receivable (940,513) 121,968 (1,731,317)
Other current assets (38,335) 8,066
Deferred expenses (3,541,595) 214,934 (617,676)
Other assets (301,824) (110,405)  
Accounts payable and accrued expenses 8,354,447 1,094,155 (1,948,987)
Deferred revenue 36,255,144
Deferred rent 475,749
Interest payable (98,192)
Net cash used in operating activities (9,070,545) (24,135,544) (16,084,761)
INVESTING ACTIVITIES      
Investments in held to maturity investments (44,524,783) (45,655,103)
Proceeds from maturities and redemptions on held-to-maturity investments 50,530,000
Purchase of property and equipment (3,222,442) (972,859) (24,595)
Cost of intangible assets (1,226,742) (821,925) (415,080)
Net cash provided by (used in) investing activities 1,556,033 (47,449,887) (439,675)
FINANCING ACTIVITIES      
Repayment of officer loan (64,926)
Proceeds from exercise of options 58,400
Proceeds from the exercise of warrants 614,368 2,342,449 250
Net proceeds of issuance of common stock 53,125,043 119,733,876 14,580,808
Tax withholdings paid related to net share settlement of equity awards (61,350) (1,375,979) (936,898)
Treasury stock purchased to pay employee withholdings on equity awards (2,729,230) (1,388,086)
Treasury shares sold to pay for employee tax withholdings on equity awards 2,754,978 1,169,594
Net cash provided by financing activities 53,703,809 120,540,254 13,579,234
Net increase (decrease) in cash and cash equivalents 46,189,297 48,954,823 (2,945,202)
Cash and cash equivalents at beginning of year 66,561,683 17,606,860 20,552,062
Cash and cash equivalents at end of year 112,750,980 66,561,683 17,606,860
Supplemental Disclosures of Cash Flow Information      
Cash paid for Interest 103,445
Cash paid for Taxes 50,000
Supplemental Schedule of Noncash Investing and Financing Activities      
Accounts payable and accrued Expenses settled with Common Stock 55,000 103,012
Conversion of notes payable into Common Stock 29,549 39,932
Sale of treasury shares pending settlement 15,000
Property and equipment included in accounts payable and accrued expenses $ 362,926

Source