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Financials

v3.7.0.1
Condensed Balance Sheets - USD ($)
Jul. 31, 2017
Oct. 31, 2016
Current Assets:    
Cash and Cash Equivalents $ 15,013,455 $ 112,750,980
Investments – Held-to-Maturity 74,391,856 39,336,548
Interest Receivable 226,798 80,142
Prepaid Expenses 1,283,010 812,830
Income Tax Receivable 2,549,862
Deferred Expenses 5,368,234 4,291,385
Other Receivable 1,500,000
Other Current Assets 99,903 53,451
Total Current Assets 97,883,256 159,875,198
Property and Equipment (net of accumulated depreciation) 7,337,337 4,389,074
Intangible Assets (net of accumulated amortization) 4,942,161 4,329,121
Deferred Expenses- net of current portion 59,487
Other Assets 499,427 450,667
TOTAL ASSETS 110,721,668 169,044,060
Current Liabilities:    
Accounts Payable 2,981,478 1,720,428
Accrued Expenses 6,162,454 10,905,003
Deferred Revenue 12,106,973 15,020,576
Lease Incentive Obligation 40,226 40,226
Common Stock Warrant Liability 20,156
Total Current Liabilities 21,291,131 27,706,389
Deferred Rent 646,025 475,749
Deferred Revenue- net of current portion 14,130,329 21,234,568
Lease Incentive Obligation – net of current portion 294,991 325,160
Total Liabilities 36,362,476 49,741,866
Commitments and Contingencies
Shareholders' Equity:    
Preferred Stock, $0.001 par value; 5,000,000 shares authorized; Series B Preferred Stock; 0 shares issued and outstanding at July 31, 2017 and October 31, 2016. Liquidation preference of $0 at July 31, 2017 and October 31, 2016.
Common Stock - $0.001 par value; 65,000,000 shares authorized, 40,996,342 shares issued and outstanding at July 31, 2017 and 40,057,067 shares issued and 40,041,047 shares outstanding at October 31, 2016. 40,996 40,057
Additional Paid-In Capital 352,199,274 327,098,749
Treasury Stock, at cost, 0 shares at July 31, 2017 and 16,020 shares at October 31, 2016. (129,787)
Accumulated Deficit (277,881,078) (207,706,825)
Total Shareholders' Equity 74,359,192 119,302,194
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 110,721,668 $ 169,044,060

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v3.7.0.1
Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Jul. 31, 2017
Jul. 31, 2016
Jul. 31, 2017
Jul. 31, 2016
Income Statement [Abstract]        
Revenue $ 3,051,620 $ 10,267,842 $ 250,000
Operating Expenses        
Research and Development Expenses 17,798,139 10,142,232 47,755,429 31,965,596
General and Administrative Expenses 18,063,555 6,423,988 33,171,062 20,395,635
Total Operating Expenses 35,861,694 16,566,220 80,926,491 52,361,231
Loss from Operations (32,810,074) (16,566,220) (70,658,649) (52,111,231)
Other Income (expense):        
Interest Income 184,479 73,872 514,363 216,061
Net Changes in Fair Value of Derivative Liabilities 6,340 20,156 56,214
Other Expense (123) (201)
Net Loss Before Income Taxes (32,625,595) (16,486,008) (70,124,253) (51,839,157)
Income Tax Expense 50,000 14,236
Net Loss $ (32,625,595) $ (16,486,008) $ (70,174,253) $ (51,853,393)
Net Loss Per Share, Basic and Diluted $ (0.80) $ (0.48) $ (1.74) $ (1.52)
Weighted Average Number of Shares Outstanding, Basic and Diluted 40,609,794 34,375,814 40,315,356 34,061,127

Source

v3.7.0.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Jul. 31, 2017
Jul. 31, 2016
OPERATING ACTIVITIES    
Net loss $ (70,174,253) $ (51,853,393)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock compensation 24,694,464 19,369,948
Gain on change in value of warrants and embedded derivative (20,156) (56,214)
Loss on disposal of property and equipment 3,187
Impairment of intangible assets 107,626
Employee stock purchase plan 223,119 28,189
Depreciation expense 553,779 163,581
Amortization expense of intangible assets 239,155 183,184
Lease incentive obligation (30,169) 375,443
Amortization of premium on held-to-maturity investments 150,062 218,733
Deferred rent 170,276 374,724
Change in operating assets and liabilities:    
Interest receivable (146,656) 5,128
Prepaid expenses (470,180) (428,788)
Income tax receivable 2,549,862 1,609,349
Other receivable (1,500,000)
Other current assets (46,452) (13,714)
Deferred expenses (1,136,336) (3,614,485)
Other assets (48,760) (320,109)
Accounts payable and accrued expenses (3,634,230) 2,817,033
Deferred revenue (10,017,842)
Net cash used in operating activities (58,533,504) (31,141,391)
INVESTING ACTIVITIES    
Purchases of held-to-maturity investments (73,425,703) (24,248,963)
Proceeds from maturities and redemptions on held-to-maturity investments 38,220,333 20,649,000
Purchase of property and equipment (3,419,298) (2,003,804)
Cost of intangible assets (959,821) (602,827)
Net cash used in investing activities (39,584,489) (6,206,594)
FINANCING ACTIVITIES    
Net proceeds of issuance of common stock 705,868
Proceeds from exercise of warrants 1,125 614,368
Taxes paid related to net share settlement of equity awards (354,262) (52,752)
Employee tax withholdings paid on equity awards (1,547,612) (1,926,763)
Tax shares sold to pay for employee tax withholdings on equity awards 1,575,349 1,893,645
Net cash provided by financing activities 380,468 528,498
Net decrease in cash and cash equivalents (97,737,525) (36,819,487)
Cash and cash equivalents at beginning of period 112,750,980 66,561,683
Cash and cash equivalents at end of period 15,013,455 29,742,196
Supplemental Disclosures of Cash Flow Information    
Cash paid for taxes 50,000 50,000
Supplemental Schedule of Non-Cash Investing and Financing Activities    
Accrued expenses from consultants settled with common stock 75,000 55,000
Conversion of notes payable into common stock 29,549
Property and equipment included in accounts payable and accrued expenses $ 85,931 $ 34,797

Source