Financials

Q3 2015 Quarterly Results

Condensed Balance Sheets - USD ($)	Jul. 31, 2015	Oct. 31, 2014
Current Assets:
Cash and Cash Equivalents	$ 97,142,340	$ 17,606,860
Prepaid Expenses	$ 366,702	182,978
Income Tax Receivable		1,731,317
Other Current Assets	$ 8,182	8,182
Deferred Expenses - current	1,150,443	964,724
Total Current Assets	98,667,667	20,494,061
Property and Equipment, net	375,688	77,369
Intangible Assets, net	3,142,490	2,767,945
Other Assets	120,863	38,438
TOTAL ASSETS	102,306,708	23,377,813
Current Liabilities:
Accounts Payable	2,153,604	1,411,058
Accrued Expenses	2,293,688	1,241,796
Short Term Convertible Notes and Fair Value of Embedded Derivative	29,549	62,882
Total Current Liabilities	4,476,841	2,715,736
Common Stock Warrant Liability	295,183	32,091
Total Liabilities	$ 4,772,024	$ 2,747,827
Shareholders' Equity:
Preferred Stock, $0.001 par value; 5,000,000 shares authorized; Series B Preferred Stock; issued and outstanding 0 at July 31, 2015 and October 31, 2014. Liquidation preference of $0 at July 31, 2015 and October 31, 2014.
Common Stock - $0.001 par value; authorized 45,000,000 shares, issued and outstanding 31,496,398 at July 31, 2015 and 19,630,139 at October 31, 2014.	$ 31,496	$ 19,630
Additional Paid-In Capital	218,945,481	107,601,493
Accumulated Deficit	(121,442,293)	(86,991,137)
Total Shareholders' Equity	97,534,684	20,629,986
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 102,306,708	$ 23,377,813

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jul. 31, 2015	Jul. 31, 2014	Jul. 31, 2015	Jul. 31, 2014
Income Statement [Abstract]
Revenue				$ 1,000,000
Operating Expenses
Research and Development Expenses	$ 7,289,944	$ 3,005,306	$ 17,004,939	6,110,095
General and Administrative Expenses	6,339,335	2,993,739	17,240,302	9,442,630
Total Operating Expenses	13,629,279	5,999,045	34,245,241	15,552,725
Loss from Operations	$ (13,629,279)	$ (5,999,045)	$ (34,245,241)	(14,552,725)
Other Income (expense):
Interest Expense				(5,253)
Gain on Note retirement				$ 6,243
Debt conversion expense			$ (6,599)
Net changes in fair value of derivative liabilities	$ 32,384	$ 210,298	(254,923)	$ 616,095
Other Income	34,869	9,553	55,608	28,874
Net Loss before benefit for income taxes	$ (13,562,026)	$ (5,779,194)	$ (34,451,155)	(13,906,766)
Income Tax Benefit				625,563
Net Loss	$ (13,562,026)	$ (5,779,194)	$ (34,451,155)	$ (13,281,203)
Net Loss per share, basic and diluted	$ (0.44)	$ (0.30)	$ (1.30)	$ (0.82)
Weighted Average Number of Shares Outstanding, Basic and Diluted	30,955,708	19,273,062	26,400,596	16,294,134

Condensed Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
OPERATING ACTIVITIES
Net Loss	$ (34,451,155)	$ (13,281,203)
Adjustments to reconcile Net Loss to net cash used in operating activities:
Non-cash charges to consultants and employees for options and stock	$ 15,836,492	4,599,259
Non-cash interest expense		51
Loss (Gain) on change in value of warrants and embedded derivative	$ 254,923	(616,095)
Warrant expense	8,169	$ 4,445
Gain on disposal of property and equipment	$ (10,000)
Settlement expense		$ 34,125
Employee Stock Purchase Plan	$ 18,014	5,371
Depreciation expense	28,352	20,709
Amortization expense of intangibles	151,108	$ 129,434
Debt conversion expense	$ 6,599
(Gain) on note retirement		$ (6,243)
Change in operating assets and liabilities:
Prepaid expenses	$ (183,724)	$ (170,596)
Income tax receivable	$ 1,731,317
Other current assets		$ (25,000)
Deferred expenses	$ (185,719)	$ (566,013)
Security deposit	(82,425)
Accounts payable and accrued expenses	$ 1,794,438	$ (2,105,153)
Interest payable		(98,192)
Net cash used in operating activities	$ (15,083,612)	(12,075,101)
INVESTING ACTIVITIES
Purchase of property and equipment	(316,671)	(24,595)
Cost of intangible assets	(525,653)	(288,115)
Net cash used in Investing Activities	$ (842,324)	(312,710)
FINANCING ACTIVITIES
Repayment of Officer Loan		$ (64,926)
Proceeds from exercise of options	$ 58,400
Proceeds from exercise of warrants	2,329,708	$ 250
Net proceeds of issuance of Common Stock	94,788,419	14,820,105
Taxes paid related to net share settlement of equity awards	(1,715,111)	(771,028)
Net cash provided by Financing Activities	95,461,416	13,984,401
Net increase in cash and cash equivalents	79,535,480	1,596,590
Cash and cash equivalents at beginning of period	17,606,860	20,552,062
Cash and cash equivalents at end of period	$ 97,142,340	22,148,652
Supplemental Disclosures of Cash Flow Information
Cash Paid for Interest		103,445
Supplemental Schedule of Non-cash Investing and Financing Activities
Accounts Payable from consultants settled with Common Stock		$ 342,309
Conversion of notes payable into common stock	$ 39,932