APLS 2017 Annual Report

87 APELLIS PHARMACEUTICALS, INC. CONSOLIDATED BALANCE SHEETS December 31, 2016 2017 Assets Current assets: Cash and cash equivalents $ 24,863,488 $ 175,643,529 Refundable research and development credit 1,347,804 1,297,361 Prepaid assets 1,132,438 5,059,593 Other current assets 25,000 14,823 Total current assets 27,368,730 182,015,306 Other assets 64,528 116,150 Total assets $ 27,433,258 $ 182,131,456 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 2,547,212 $ 3,663,253 Accrued expenses 1,091,726 2,890,705 Total current liabilities 3,638,938 6,553,958 Long-term liabilities: Term loan facility — 19,806,944 Promissory note - related party — 6,583,402 Common stock warrant liability — 244,292 Total liabilities 3,638,938 33,188,596 Stockholders' equity: Series A convertible preferred stock, $0.0001 par value; 2,670,000 shares authorized, issued and outstanding at December 31, 2016 and zero shares authorized, issued and outstanding at December 31, 2017 2,654,405 — Series B convertible preferred stock, $0.0001 par value; 6,362,658 shares authorized, issued and outstanding at December 31, 2016 and zero shares authorized, issued and outstanding at December 31, 2017 6,944,148 — Series C convertible preferred stock, $0.0001 par value; 26,215,411 shares authorized, issued and outstanding at December 31, 2016 and zero shares authorized, issued and outstanding at December 31, 2017 35,542,707 — Series D convertible preferred stock, $0.0001 par value; 21,099,351 shares authorized, issued and outstanding at December 31, 2016 and zero shares authorized, issued and outstanding at December 31, 2017 46,913,666 — Preferred stock, $0.0001 par value; zero shares authorized, issued and outstanding at December 31, 2016 and 10,000,000 shares authorized, and zero shares issued and outstanding at December 31, 2017 — — Common stock, $0.0001 par value; 87,000,000 shares authorized and 8,428,366 shares issued and outstanding at December 31, 2016 and 200,000,000 shares authorized and 50,334,152 shares issued and outstanding at December 31, 2017 843 5,033 Additional paid in capital 29,996,110 298,201,480 Accumulated deficit (98,257,559) (149,263,653) Total stockholders' equity 23,794,320 148,942,860 Total liabilities and stockholders' equity $ 27,433,258 $ 182,131,456 See accompanying notes to consolidated financial statements