Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jul. 31, 2018
Jul. 31, 2017
Operating activities    
Net loss $ (39,136,366) $ (21,449,798)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 334,494 379,988
Loss on disposal of property and equipment 875,098
Warrant inducement expense 2,465,396
Amortization of discount on investments (28,948)
Stock-based compensation 8,252,515 4,016,790
Common stock issued for services 1,845,951
Changes in operating assets and liabilities:    
Prepaid expenses 97,535 (130,926)
Other current assets (593,141) 14,750
Other long-term assets (49,800) (88,473)
Accounts payable and accrued liabilities 1,427,760 (208,281)
Accrued compensation 955,903 (128,083)
Other long-term liabilities 331,677 253,661
Net cash used in operating activities (23,221,926) (17,340,372)
Investing activities    
Purchases of property and equipment (65,156) (21,562)
Purchase of investment securities (25,474,695)
Maturity of investment securities 2,250,000
Net cash used in investing activities (23,289,851) (21,562)
Financing activities    
Proceeds from issuance of common stock through ESPP 35,809
Proceeds from issuance of common stock and warrants 32,283,444
Payment of financing and offering costs (3,575,699) (15,500)
Proceeds from exercise of options 321,145 79,506
Tax withholdings paid related to net share settlement of equity awards (181,550)
Proceeds from exercise of inducement warrants 9,999,983
Net cash provided by financing activities 38,883,132 64,006
Effect of exchange rate changes on cash (12,404) (3,620)
Net decrease in cash (7,641,049) (17,301,548)
Cash and cash equivalents, at beginning of year 11,444,676 28,746,224
Cash and cash equivalents, at end of year 3,803,627 11,444,676
Supplemental disclosure for cash flow information:    
Interest
Income taxes 680 1,391
Noncash investing and financing transactions:    
Expiration of warrants 1,200,742 1,479,274
Amounts accrued for offering costs $ 45,000 $ 256,296