APLS 2017 Annual Report

73 Year Ended December 31, 2015 2016 2017 Consolidated Statement of Operations Data: Operating expenses: Research and development (1) $ 13,730,311 $ 22,978,599 $ 40,303,878 Cost of acquired in-process research and development 26,486,000 — — General and administrative (1) 6,356,782 4,303,743 10,463,151 Operating loss (46,573,093) (27,282,342) (50,767,029) Loss from remeasurement of fair value of warrant — — (153,692) Interest income (expense), net (2) 50,853 135,309 (96,915) Other income, net 6,284 22,396 11,542 Net loss and comprehensive loss $(46,515,956) $(27,124,637) $(51,006,094) Net loss per common share, basic and diluted $ (8.03) $ (3.22) $ (3.68) Weighted-average number of common shares used in net loss per share, basic and diluted 5,795,040 8,428,366 13,870,949 (1) Includes share based compensation as follows: Year Ended December 31, 2015 2016 2017 Research and development $ 171,388 $ 377,776 $ 2,678,956 General and administrative 374,313 701,212 2,739,754 Total share-based compensation expense $ 545,701 $ 1,078,988 $ 5,418,710 (2) Includes amortization of debt discount associated with term loan facility and promissory note due to the issuance of warrants. See Notes 6 and 7 to our audited consolidated financial statements included elsewhere in this report. (3) See Note 13 in the notes to our audited consolidated financial statements appearing at the end of this document for a description of the method used to calculate basic and diluted net loss per common share. December 31, 2015 2016 2017 Consolidated Balance Sheet Data: Cash and cash equivalents $ 36,003,546 $ 24,863,488 $ 175,643,529 Working capital 34,843,678 23,729,792 175,461,348 Total assets 38,177,109 27,433,258 182,131,456 Term loan facility — — 19,806,944 Promissory note related party — — 6,583,402 Total liabilities 3,200,160 3,638,938 33,188,596 Convertible preferred stock 77,191,906 92,054,926 - Accumulated deficit (71,132,922) (98,257,559) (149,263,653) Total stockholders' equity 34,976,949 23,794,320 148,942,860