|
Delaware
|
| |
2834
|
| |
47-3324577
|
|
|
(State or other jurisdiction of
incorporation or organization) |
| |
(Primary Standard Industrial
Classification Code Number) |
| |
(I.R.S. Employer
Identification No.) |
|
|
Mark R. Busch
K&L Gates LLP 214 North Tryon St., 47th Floor Charlotte, North Carolina 28202 Telephone: (704) 331-7440 Fax: (704) 353-3694 |
| |
Kevin K. Leung
LKP Global Law, LLP 1901 Avenue of the Stars, Suite 480 Los Angeles, California 90067 Telephone: (424) 239-1890 Fax: (424) 239-1992 |
|
| Large accelerated filer ☐ | | | Accelerated filer ☐ | |
| Non-accelerated filer ☒ | | | Smaller reporting company ☐ | |
|
(Do not check if a smaller reporting company)
|
| | Emerging growth company ☒ | |
CALCULATION OF REGISTRATION FEE
|
| ||||||||||||
Title of Each Class of Securities to be Registered
|
| |
Proposed
Maximum Aggregate Offering Price(1) |
| |
Amount of
Registration Fee |
| ||||||
Common Stock(2)
|
| | | $ | 50,000,000 | | | | | $ | 6,225.00 | | |
Underwriter Warrant(3)
|
| | | $ | 1,000 | | | | | | — | | |
Shares of Common Stock Underlying Underwriter Warrant
|
| | | $ | 6,250,000 | | | | | $ | 778.13 | | |
Total
|
| | | $ | 56,251,000 | | | | | $ | 7,003.13(4) | | |
|
| | |
Per Share
|
| |
Total Minimum
Offering |
| |
Total Maximum
Offering |
| |||||||||
Public offering price
|
| | | $ | | | | | $ | | | | | $ | | | |||
Underwriting commissions(1)
|
| | | $ | | | | | | $ | | | | | | $ | | | |
Proceeds, before expenses, to us(2)
|
| | | $ | | | | | | $ | | | | | | $ | | | |
|
MDB Capital Group, LLC
|
| |
Feltl and Company
|
|
| | |
Page
|
| |||
| | | | 1 | | | |
| | | | 12 | | | |
| | | | 15 | | | |
| | | | 16 | | | |
| | | | 17 | | | |
| | | | 41 | | | |
| | | | 42 | | | |
| | | | 43 | | | |
| | | | 44 | | | |
| | | | 68 | | | |
| | | | 82 | | | |
| | | | 86 | | | |
| | | | 90 | | | |
| | | | 95 | | | |
| | | | 97 | | | |
| | | | 99 | | | |
| | | | 101 | | | |
| | | | 105 | | | |
| | | | 105 | | | |
| | | | 105 | | | |
| | | | 105 | | |
| | |
Tumor Growth Inhibition
TGI % |
| |
Complete Response Rate
CRR % |
| ||||||
rIL-2
|
| | | | 44 | | | | | | 6 | | |
anti-PD1
|
| | | | 58 | | | | | | 0 | | |
CUE:IL-2
|
| | | | 94 | | | | | | 30 | | |
CUE:IL-2 + anti-PD1
|
| | | | 97 | | | | | | 55 | | |
| | |
Year Ended
December 31, |
| |
Nine Months Ended
September 30, |
| ||||||||||||||||||
| | |
2016
|
| |
2015
|
| |
2017
|
| |
2016
|
| ||||||||||||
| | | | | | | | | | | | | | |
(Unaudited)
|
| |
(Unaudited)
|
| ||||||
Revenue
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Operating expenses: | | | | | | ||||||||||||||||||||
General and administrative
|
| | | | 1,970,488 | | | | | | 425,081 | | | | | | 2,914,452 | | | | | | 1,193,527 | | |
Research and development
|
| | | | 5,687,847 | | | | | | 1,503,649 | | | | | | 9,880,529 | | | | | | 3,622,409 | | |
Total operating expenses
|
| | | | 7,658,335 | | | | | | 1,928,730 | | | | | | 12,794,981 | | | | | | 4,815,936 | | |
Loss from operations
|
| | | | (7,658,335) | | | | | | (1,928,730) | | | | | | (12,794,981) | | | | | | (4,815,936) | | |
Interest income
|
| | | | 52 | | | | | | — | | | | | | — | | | | | | 52 | | |
Net loss
|
| | | $ | (7,658,283) | | | | | $ | (1,928,730) | | | | | $ | (12,794,981) | | | | | $ | (4,815,884) | | |
Net loss per common share – basic and diluted
|
| | | $ | (1.03) | | | | | $ | (0.34) | | | | | $ | (1.20) | | | | | $ | (0.65) | | |
Weighted average common shares outstanding –
basic and diluted |
| | | | 7,433,433 | | | | | | 5,658,282 | | | | | | 10,635,684 | | | | | | 7,352,704 | | |
|
| | |
December 31,
|
| |
September 30,
2017 |
| ||||||||||||
| | |
2016
|
| |
2015
|
| ||||||||||||
| | | | | | | | | | | | | | |
(Unaudited)
|
| |||
Cash
|
| | | $ | 14,925,820 | | | | | $ | 6,405,207 | | | | | $ | 3,400,481 | | |
Certificate of deposit
|
| | | | 50,033 | | | | | | 50,000 | | | | | | 50,033 | | |
Working capital
|
| | | | 14,070,638 | | | | | | 6,164,449 | | | | | | 2,215,871 | | |
Total assets
|
| | | | 16,278,617 | | | | | | 7,314,626 | | | | | | 6,295.430 | | |
Total stockholders’ equity
|
| | | | 15,174,640 | | | | | | 6,938,331 | | | | | | 4,380,690 | | |
| | |
As of September 30, 2017
|
| |||||||||||||||
| | |
Actual
|
| |
Pro Forma
(Minimum) |
| |
Pro Forma
(Maximum) |
| |||||||||
| | |
(unaudited)
|
| |
(unaudited)
|
| |
(unaudited)
|
| |||||||||
Cash
|
| | | $ | 3,400,481 | | | | | $ | [•] | | | | | $ | [•] | | |
Total Debt
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | |
Stockholders’ Equity: | | | | | |||||||||||||||
Preferred stock, $0.001 par value; 10,000,000 shares authorized; no shares issued or outstanding, actual; 10,000,000 shares authorized pro forma; no shares issued or outstanding pro forma;
|
| | | | — | | | | | | — | | | | | | — | | |
Common stock, $0.001 par value; 50,000,000 shares authorized;
10,635,684 shares issued and outstanding, actual; 50,000,000 shares authorized and 17,021,542 shares issued and outstanding, pro forma (minimum), and 50,000,000 shares authorized and 18,450,113 shares issued and outstanding, pro forma (maximum) |
| | | | 10,636 | | | | | | 16,308 | | | | | | 17,022 | | |
Additional paid-in capital
|
| | | | 26,752,048 | | | | | | [•] | | | | | | [•] | | |
Accumulated deficit
|
| | | | (22,381,994) | | | | | | (27,082,998) | | | | | | (27,082,998) | | |
Total stockholders’ equity
|
| | | | 4,380,690 | | | | | | [•] | | | | | | [•] | | |
Total capitalization
|
| | | $ | 4,380,690 | | | | | $ | [•] | | | | | $ | [•] | | |
| | |
Minimum
|
| |
Maximum
|
| ||||||
Public offering price
|
| | | $ | 7.00 | | | | | $ | 7.00 | | |
Net tangible book value per share as of September 30, 2017
|
| | | | 0.41 | | | | | | 0.41 | | |
Decrease attributable to shares issued to Einstein
|
| | | | (0.02) | | | | | | (0.02) | | |
Net tangible book value immediately prior to offering
|
| | | | 0.39 | | | | | | 0.39 | | |
Increase per share attributable to this offering
|
| | | | [•] | | | | | | [•] | | |
Pro forma tangible book value per share after this offering
|
| | | | [•] | | | | | | [•] | | |
Dilution per share to new investors in this offering
|
| | | $ | [•] | | | | | $ | [•] | | |
|
| | |
Tumor Growth Inhibition
TGI % |
| |
Complete Response Rate
CRR % |
| ||||||
rlL-2
|
| | | | 44 | | | | | | 6 | | |
anti-PD1
|
| | | | 58 | | | | | | 0 | | |
CUE:IL-2
|
| | | | 94 | | | | | | 30 | | |
CUE:IL-2 + anti-PD1
|
| | | | 97 | | | | | | 55 | | |
| | |
Years Ended
December 31, |
| |||||||||
| | |
2016
|
| |
2015
|
| ||||||
Revenue
|
| | | $ | — | | | | | $ | — | | |
Operating expenses: | | | | ||||||||||
General and administrative
|
| | | | 1,970,488 | | | | | | 425,081 | | |
Research and development
|
| | | | 5,687,847 | | | | | | 1,503,649 | | |
Total operating expenses
|
| | | | 7,658,335 | | | | | | 1,928,730 | | |
Loss from operations
|
| | | | (7,658,335) | | | | | | (1,928,730) | | |
Interest income
|
| | | | 52 | | | | | | — | | |
Net loss
|
| | | $ | (7,658,283) | | | | | $ | (1,928,730) | | |
|
| | |
Nine Months
Ended September 30, |
| |||||||||
| | |
2017
|
| |
2016
|
| ||||||
Revenue
|
| | | $ | — | | | | | $ | — | | |
Operating expenses: | | | | ||||||||||
General and administrative
|
| | | | 2,914,452 | | | | | | 1,193,527 | | |
Research and development
|
| | | | 9,880,529 | | | | | | 3,622,409 | | |
Total operating expenses
|
| | | | 12,794,981 | | | | | | 4,815,936 | | |
Loss from operations
|
| | | | (12,794,981) | | | | | | (4,815,936) | | |
Interest income
|
| | | | — | | | | | | 52 | | |
Net loss
|
| | | $ | (12,794,981) | | | | | $ | (4,815,884) | | |
|
Years Ending December 31,
|
| | |||||
2017
|
| | | $ | 676,500 | | |
2018
|
| | | | 854,000 | | |
Total
|
| | | $ | 1,530,500 | | |
|
Name
|
| |
Age
|
| |
Position
|
|
Daniel R. Passeri | | |
57
|
| | Chief Executive Officer, President and Director | |
Gary Schuman | | |
50
|
| | Interim Chief Financial Officer | |
Ken Pienta | | |
57
|
| | Chief Medical Officer | |
Ronald Seidel, III | | |
41
|
| | Executive Vice President, Head of Research and Development | |
Rodolfo Chaparro | | |
45
|
| | Executive Vice President, Head of Immunology | |
Amy Wang | | |
44
|
| | Secretary and Director | |
Peter A. Kiener | | |
65
|
| | Chairman | |
Anthony DiGiandomenico | | |
51
|
| | Director | |
Cameron Gray | | |
47
|
| | Director | |
Christopher Marlett | | |
53
|
| | Director | |
Steven McKnight | | |
68
|
| | Director | |
Barry Simon | | |
52
|
| | Director | |
Steven Almo | | |
57
|
| | Chairman of Scientific and Clinical Advisory Board | |
Name & Position
|
| |
Fiscal Year
|
| |
Salary ($)
|
| |
Bonus ($)
|
| |
Option
Awards ($)(1) |
| |
Total ($)
|
| |||||||||||||||
Daniel R. Passeri
Chief Executive Officer |
| | | | 2016(2) | | | | | | 112,027 | | | | | | 57,500 | | | | | | 2,289,178 | | | | | | 2,458,705 | | |
Rodolfo J. Chaparro
Executive Vice President, Head of Immunology |
| | | | 2016 | | | | | | 203,333 | | | | | | 50,000 | | | | | | 504,135 | | | | | | 757,468 | | |
| | | 2015 | | | | | | 90,000 | | | | | | 30,000(3) | | | | | | — | | | | | | 120,000 | | | ||
Ronald D. Seidel
Executive Vice President, Head of Research & Development |
| | | | 2016 | | | | | | 203,333 | | | | | | 50,000 | | | | | | 504,135 | | | | | | 757,468 | | |
| | | 2015 | | | | | | 90,000 | | | | | | 30,000(3) | | | | | | — | | | | | | 120,000 | | |
Name & Principal Position
|
| |
Number of
Securities Underlying Unexercised Options Exercisable (#) |
| |
Number of
Securities Underlying Unexercised Options Unexercisable (#) |
| |
Option Exercise
Price ($) |
| |
Option
Expiration Date |
| ||||||||||||
Daniel R. Passeri
Chief Executive Officer |
| | | | — | | | | | | 544,732(1) | | | | | $ | 2.86 | | | | | | 08/29/2023 | | |
Rodolfo Chaparro
Executive Vice President, Head of Immunology |
| | | | — | | | | | | 120,000(2) | | | | | $ | 2.86 | | | | | | 09/07/2023 | | |
Ronald Seidel
Executive Vice President, Head of Research & Development |
| | | | — | | | | | | 120,000(2) | | | | | $ | 2.86 | | | | | | 09/07/2023 | | |
Name
|
| |
Fees Earned or
Paid in Cash ($) |
| |
Option
Awards ($)(1) |
| |
All Other
Compensation ($) |
| |
Total ($)
|
| ||||||||||||
Peter A. Kiener
|
| | | | 23,250 | | | | | | 535,182 | | | | | | — | | | | | | 558,432 | | |
Steven McKnight
|
| | | | 23,250 | | | | | | 535,182 | | | | | | — | | | | | | 558,432 | | |
Barry Simon
|
| | | | 23,250 | | | | | | 535,182 | | | | | | — | | | | | | 558,432 | | |
Name
|
| |
Shares subject to
Outstanding Stock Option Awards (#) |
| |||
Peter A. Kiener
|
| | | | 125,920 | | |
Steven McKnight
|
| | | | 125,920 | | |
Barry Simon
|
| | | | 125,920 | | |
Name of Beneficial Owner(1)
|
| |
Shares of
Common Stock |
| |
Shares
Underlying Options |
| |
Shares
Underlying Warrants(2) |
| |
Number of
Shares Beneficially Owned(3) |
| |
Percentage
Owned Prior to the Offering |
| |
Percentage
Owned After the Offering (Minimum)(4) |
| |
Percentage
Owned After the Offering (Maximum)(4) |
| |||||||||||||||||||||
Directors and Executive Officers
|
| | | | | | | | |||||||||||||||||||||||||||||||||||
Daniel R. Passeri
|
| | | | 40,000 | | | | | | 136,183 | | | | | | — | | | | | | 176,183 | | | | | | 1.6% | | | | | | 1.0% | | | | | | 0.9%* | | |
Gary Schuman
|
| | | | 66,750 | | | | | | — | | | | | | 11,111 | | | | | | 77,861 | | | | | | * | | | | | | * | | | | | | * | | |
Ken Pienta
|
| | | | — | | | | | | 20,000 | | | | | | — | | | | | | 20,000 | | | | | | * | | | | | | * | | | | | | * | | |
Ronald D. Seidel
|
| | | | 445,000 | | | | | | 30,000 | | | | | | — | | | | | | 475,000 | | | | | | 4.5% | | | | | | 2.8% | | | | | | 2.6% | | |
Rodolfo J. Chaparro
|
| | | | 445,000 | | | | | | 30,000 | | | | | | — | | | | | | 475,000 | | | | | | 4.5% | | | | | | 2.8% | | | | | | 2.6% | | |
Amy Wang
|
| | | | 333,750 | | | | | | — | | | | | | 48,111 | | | | | | 381,861 | | | | | | 3.6% | | | | | | 2.2% | | | | | | 2.1% | | |
Peter Kiener
|
| | | | — | | | | | | 25,184 | | | | | | — | | | | | | 25,184 | | | | | | * | | | | | | * | | | | | | * | | |
Anthony DiGiandomenico(5)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | * | | | | | | * | | | | | | * | | |
Cameron Gray
|
| | | | 667,500 | | | | | | — | | | | | | 61,111 | | | | | | 728,611 | | | | | | 6.8% | | | | | | 4.3% | | | | | | 3.9% | | |
Christopher Marlett(6)
|
| | | | 1,017,973 | | | | | | — | | | | | | 185,185 | | | | | | 1,203,158 | | | | | | 11.1% | | | | | | 7.0% | | | | | | 6.5% | | |
Steven McKnight
|
| | | | — | | | | | | 25,184 | | | | | | — | | | | | | 25,184 | | | | | | * | | | | | | * | | | | | | * | | |
Barry Simon
|
| | | | — | | | | | | 25,184 | | | | | | — | | | | | | 25,184 | | | | | | * | | | | | | * | | | | | | * | | |
Directors and Executive Officers
as a group (12 persons) |
| | | | 3,015,973 | | | | | | 291,735 | | | | | | 305,518 | | | | | | 3,613,226 | | | | | | 32.0% | | | | | | 20.5% | | | | | | 19.0% | | |
Five Percent Stockholders | | | | | | | | | |||||||||||||||||||||||||||||||||||
MDB Capital Group, LLC(7)
|
| | | | 1,017,973 | | | | | | — | | | | | | 185,185 | | | | | | 1,203,158 | | | | | | 11.1% | | | | | | 7.0% | | | | | | 6.5% | | |
Albert Einstein College of
Medicine(8) |
| | | | 671,572 | | | | | | — | | | | | | — | | | | | | 671,572 | | | | | | 6.3% | | | | | | 3.9% | | | | | | 3.6% | | |
Steven C. Almo(9)
|
| | | | 534,000 | | | | | | 40,122 | | | | | | — | | | | | | 574,122 | | | | | | 5.4% | | | | | | 3.4% | | | | | | 3.1% | | |
Mark Strome(10)
|
| | | | 615,556(11) | | | | | | — | | | | | | — | | | | | | 615,556 | | | | | | 5.8% | | | | | | 3.6% | | | | | | 3.3% | | |
Peter A. Appel(12)
|
| | | | 655,556 | | | | | | — | | | | | | — | | | | | | 655,556 | | | | | | 6.2% | | | | | | 3.9% | | | | | | 3.6% | | |
Name
|
| |
Shares of
Common Stock |
| |
Relationship to Us
|
| |||
MDB Capital Group, LLC | | | | | 1,045,750 | | | | 5% Stockholder | |
Cameron Gray | | | | | 667,500 | | | | Director | |
Steven C. Almo | | | | | 534,000 | | | | 5% Stockholder and Chairman of the Scientific and Clinical Advisory Board | |
Ronald D. Seidel | | | | | 445,000 | | | | Officer | |
Rodolfo J. Chaparro | | | | | 445,000 | | | | Officer | |
Amy Wang | | | | | 333,750 | | | | Director and Officer | |
Gary Schuman | | | | | 66,750 | | | | Officer | |
Name
|
| |
Shares of
Common Stock Actually Owned Prior to Offering |
| |||
MDB Capital Group, LLC
|
| | | | 1,017,973 | | |
Cameron Gray
|
| | | | 667,500 | | |
Amy En-Mei Wang
|
| | | | 333,750 | | |
Gary Schuman
|
| | | | 66,750 | | |
George Brandon
|
| | | | 63,625 | | |
Kevin Cotter
|
| | | | 55,625 | | |
Edgardo Rayo
|
| | | | 9,259 | | |
Ivonne Bordas
|
| | | | 9,259 | | |
Carlos Herrera
|
| | | | 9,259 | | |
Total
|
| | | | 2,233,000 | | |
|
| | |
Total Minimum
Offering |
| |
Total Maximum
Offering |
|||||
Public offering price
|
| | | $ | 40,000,000 | | | | | $ | 50,000,000 |
Underwriting commissions to be paid to the underwriters
|
| | | $ | [__] | | | | | $ | [__] |
Qualified independent underwriter fee
|
| | | $ | [__] | | | | | $ | [__] |
Net proceeds, before other Company expenses
|
| | | $ | [__] | | | | | $ | [__] |
| | |
Page
Number |
| |||
| | | | F-2 | | | |
| | | | F-3 | | | |
| | | | F-4 | | | |
| | | | F-5 | | | |
| | | | F-6 | | | |
| | | | F-7 | | |
| | |
December 31,
|
| |||||||||
| | |
2016
|
| |
2015
|
| ||||||
ASSETS | | | | ||||||||||
Current assets: | | | | ||||||||||
Cash
|
| | | $ | 14,925,820 | | | | | $ | 6,405,207 | | |
Certificate of deposit
|
| | | | 50,033 | | | | | | 50,000 | | |
Prepaid expenses and other current assets
|
| | | | 162,398 | | | | | | 51,447 | | |
Total current assets
|
| | | | 15,138,251 | | | | | | 6,506,654 | | |
Property and equipment, net
|
| | | | 1,023,366 | | | | | | 709,472 | | |
Deposits
|
| | | | 117,000 | | | | | | 98,500 | | |
Total assets
|
| | | $ | 16,278,617 | | | | | $ | 7,314,626 | | |
LIABILITIES AND STOCKHOLDERS’ EQUITY | | | | ||||||||||
Current liabilities:
|
| | | ||||||||||
Accounts payable and accrued expenses
|
| | | $ | 549,963 | | | | | $ | 177,815 | | |
Accrued compensation and related expenses
|
| | | | 408,559 | | | | | | 118,935 | | |
Current portion of deferred rent
|
| | | | 109,091 | | | | | | 45,455 | | |
Total current liabilities
|
| | | | 1,067,613 | | | | | | 342,205 | | |
Deferred rent, net of current portion
|
| | | | 36,364 | | | | | | 34,090 | | |
Total liabilities
|
| | | | 1,103,977 | | | | | | 376,295 | | |
Commitments and contingencies | | | | ||||||||||
Stockholders’ equity: | | | | ||||||||||
Preferred Stock, $0.001 par value, authorized – 10,000,000 shares; issued and outstanding – none
|
| | | | — | | | | | | — | | |
Common stock, $0.001 par value; authorized – 50,000,000 shares; issued and
outstanding – 10,635,684 shares and 7,352,704 shares at December 31, 2016 and 2015, respectively |
| | | | 10,636 | | | | | | 7,353 | | |
Additional paid-in capital
|
| | | | 24,751,017 | | | | | | 8,859,708 | | |
Accumulated deficit
|
| | | | (9,587,013) | | | | | | (1,928,730) | | |
Total stockholders’ equity
|
| | | | 15,174,640 | | | | | | 6,938,331 | | |
Total liabilities and stockholders’ equity
|
| | | $ | 16,278,617 | | | | | $ | 7,314,626 | | |
|
| | |
Years Ended December 31,
|
| |||||||||
| | |
2016
|
| |
2015
|
| ||||||
Revenue
|
| | | $ | — | | | | | $ | — | | |
Operating expenses: | | | | ||||||||||
General and administrative
|
| | | | 1,970,488 | | | | | | 425,081 | | |
Research and development
|
| | | | 5,687,847 | | | | | | 1,503,649 | | |
Total operating expenses
|
| | | | 7,658,335 | | | | | | 1,928,730 | | |
Loss from operations
|
| | | | (7,658,335) | | | | | | (1,928,730) | | |
Interest income
|
| | | | 52 | | | | | | — | | |
Net loss
|
| | | $ | (7,658,283) | | | | | $ | (1,928,730) | | |
Net loss per common share – basic and diluted
|
| | | $ | (1.03) | | | | | $ | (0.34) | | |
Weighted average common shares outstanding – basic and diluted
|
| | | | 7,433,433 | | | | | | 5,658,282 | | |
|
| | |
Common Stock
|
| |
Additional
Paid-in Capital |
| |
Accumulated
Deficit |
| |
Total
Stockholders’ Equity |
| ||||||||||||||||||
| | |
Shares
|
| |
Par Value
|
| ||||||||||||||||||||||||
Common stock issued to founders
|
| | | | 3,649,000 | | | | | $ | 3,649 | | | | | $ | — | | | | | $ | — | | | | | $ | 3,649 | | |
Common stock issued in private placement
|
| | | | 3,703,704 | | | | | | 3,704 | | | | | | 9,996,296 | | | | | | — | | | | | | 10,000,000 | | |
Costs incurred in connection with private placement of common stock
|
| | | | — | | | | | | — | | | | | | (1,911,529) | | | | | | — | | | | | | (1,911,529) | | |
Proceeds from sale of placement agent warrants
|
| | | | — | | | | | | — | | | | | | 1,000 | | | | | | — | | | | | | 1,000 | | |
Fair value of warrants issued in connection with private placement of common stock
|
| | | | — | | | | | | — | | | | | | 773,941 | | | | | | — | | | | | | 773,941 | | |
Net loss
|
| | | | — | | | | | | — | | | | | | — | | | | | | (1,928,730) | | | | | | (1,928,730) | | |
Balance, December 31, 2015
|
| | | | 7,352,704 | | | | | | 7,353 | | | | | | 8,859,708 | | | | | | (1,928,730) | | | | | | 6,938,331 | | |
Common stock issued in private placement
|
| | | | 3,282,980 | | | | | | 3,283 | | | | | | 16,411,617 | | | | | | — | | | | | | 16,414,900 | | |
Costs incurred in connection with private placement of common stock
|
| | | | — | | | | | | — | | | | | | (1,409,864) | | | | | | — | | | | | | (1,409,864) | | |
Stock-based compensation
|
| | | | — | | | | | | — | | | | | | 889,556 | | | | | | — | | | | | | 889,556 | | |
Net loss
|
| | | | — | | | | | | — | | | | | | — | | | | | | (7,658,283) | | | | | | (7,658,283) | | |
Balance, December 31, 2016
|
| | | | 10,635,684 | | | | | $ | 10,636 | | | | | $ | 24,751,017 | | | | | $ | (9,587,013) | | | | | $ | 15,174,640 | | |
|
| | |
Years Ended December 31,
|
| |||||||||
| | |
2016
|
| |
2015
|
| ||||||
Cash flows from operating activities: | | | | ||||||||||
Net loss
|
| | | $ | (7,658,283) | | | | | $ | (1,928,730) | | |
Adjustments to reconcile net loss to net cash used in operating activities: | | | | ||||||||||
Depreciation and amortization
|
| | | | 202,085 | | | | | | 44,815 | | |
Deferred rent
|
| | | | 65,910 | | | | | | 79,545 | | |
Stock-based compensation
|
| | | | 889,556 | | | | | | — | | |
Changes in operating assets and liabilities: | | | | ||||||||||
(Increase) decrease in – | | | | ||||||||||
Prepaid expenses and other current assets
|
| | | | (110,951) | | | | | | (51,447) | | |
Deposits
|
| | | | (18,500) | | | | | | (98,500) | | |
Increase (decrease) in – | | | | ||||||||||
Accounts payable and accrued expenses
|
| | | | 372,148 | | | | | | 177,815 | | |
Accrued compensation and related expenses
|
| | | | 289,624 | | | | | | 118,935 | | |
Net cash used in operating activities
|
| | | | (5,968,411) | | | | | | (1,657,567) | | |
Cash flows from investing activities: | | | | ||||||||||
Increase in certificate of deposit
|
| | | | (33) | | | | | | (50,000) | | |
Purchases of property and equipment
|
| | | | (515,979) | | | | | | (754,287) | | |
Net cash used in investing activities
|
| | | | (516,012) | | | | | | (804,287) | | |
Cash flows from financing activities: | | | | ||||||||||
Proceeds from issuance of common stock to founders
|
| | | | — | | | | | | 3,649 | | |
Proceeds from private placements of common stock
|
| | | | 16,414,900 | | | | | | 10,000,000 | | |
Proceeds from sale of placement agent warrants
|
| | | | — | | | | | | 1,000 | | |
Cash payments made for costs incurred in connection with sale of common stock
|
| | | | (1,409,864) | | | | | | (1,137,588) | | |
Net cash provided by financing activities
|
| | | | 15,005,036 | | | | | | 8,867,061 | | |
Cash: | | | | ||||||||||
Net increase
|
| | | | 8,520,613 | | | | | | 6,405,207 | | |
Balance at beginning of year
|
| | | | 6,405,207 | | | | | | — | | |
Balance at end of year
|
| | | $ | 14,925,820 | | | | | $ | 6,405,207 | | |
Supplemental disclosures of cash flow information: | | | | ||||||||||
Cash paid for – | | | | ||||||||||
Interest
|
| | | $ | — | | | | | $ | — | | |
Income taxes
|
| | | $ | — | | | | | $ | — | | |
Non-cash financing activities: | | | | ||||||||||
Fair value of warrants issued in connection with private placement of common stock
|
| | | $ | — | | | | | $ | 773,941 | | |
|
|
Laboratory equipment
|
| |
5 years
|
|
|
Computer equipment
|
| |
3 years
|
|
|
Furniture and fixtures
|
| |
3 years
|
|
| | |
December 31,
|
| |||||||||
| | |
2016
|
| |
2015
|
| ||||||
Common stock warrants
|
| | | | 370,370 | | | | | | 370,370 | | |
Common stock options
|
| | | | 1,663,221 | | | | | | — | | |
Total
|
| | | | 2,033,591 | | | | | | 370,370 | | |
|
| | |
December 31,
|
| |||||||||
| | |
2016
|
| |
2015
|
| ||||||
Laboratory equipment
|
| | | $ | 1,194,473 | | | | | $ | 735,013 | | |
Furniture and fixtures
|
| | | | 1,832 | | | | | | 1,832 | | |
Computer equipment
|
| | | | 44,166 | | | | | | 17,442 | | |
Leasehold improvements
|
| | | | 29,795 | | | | | | — | | |
| | | | | 1,270,266 | | | | | | 754,287 | | |
Less accumulated depreciation and amortization
|
| | | | (246,900) | | | | | | (44,815) | | |
Net property and equipment
|
| | | $ | 1,023,366 | | | | | $ | 709,472 | | |
|
| | |
Years Ended December 31,
|
| |||||||||
| | |
2016
|
| |
2015
|
| ||||||
General and administrative
|
| | | $ | 4,630 | | | | | $ | 1,238 | | |
Research and development
|
| | | | 197,455 | | | | | | 43,577 | | |
Total
|
| | | $ | 202,085 | | | | | $ | 44,815 | | |
|
Grant of Date
|
| |
Number of
Shares Under Option |
| |
Life of
Option |
| |
Vesting
Period |
| |
Fair Value at Date of Grant
|
| ||||||||||||
|
Total
|
| |
Per Share
|
| ||||||||||||||||||||
March 23, 2016
|
| | | | 240,729 | | | |
5 years
|
| |
3 years
|
| | | $ | 1,023,791 | | | | | $ | 4.25 | | |
March 23, 2016
|
| | | | 377,760 | | | |
7 years
|
| |
5 years
|
| | | | 1,605,546 | | | | | $ | 4.25 | | |
August 29, 2016
|
| | | | 544,732 | | | |
7 years
|
| |
4 years
|
| | | | 2,289,178 | | | | | $ | 4.20 | | |
September 7, 2016
|
| | | | 440,000 | | | |
7 years
|
| |
4 years
|
| | | | 1,848,496 | | | | | $ | 4.20 | | |
November 16, 2016
|
| | | | 60,000 | | | |
7 years
|
| |
1 year
|
| | | | 265,367 | | | | | $ | 4.42 | | |
| | | | | 1,663,221 | | | | | | | | | | | $ | 7,032,378 | | | | | | | | |
|
|
Risk-free interest rate
|
| |
1.07 to 2.25%
|
|
|
Expected dividend yield
|
| |
0%
|
|
|
Expected volatility
|
| |
104% to 112%
|
|
|
Expected life
|
| |
4.25 to 7 years
|
|
|
Stock price per share
|
| |
$5.00
|
|
| | |
Number of
Shares |
| |
Weighted
Average Exercise Price |
| |
Weighted
Average Remaining Contractual Life (in Years) |
| |||||||||
Granted
|
| | | | — | | | | | ||||||||||
Exercised
|
| | | | — | | | | | ||||||||||
Expired
|
| | | | — | | | | | ||||||||||
Stock options outstanding at December 31, 2015
|
| | | | — | | | | | | — | | | | | | — | | |
Granted
|
| | | | 1,663,221 | | | | | $ | 2.86 | | | | |||||
Exercised
|
| | | | — | | | | | | — | | | | |||||
Expired
|
| | | | — | | | | | | — | | | | |||||
Stock options outstanding at December 31, 2016
|
| | | | 1,663,221 | | | | | $ | 2.86 | | | | | | 6.22 | | |
Stock options exercisable at December 31, 2016
|
| | | | 60,183 | | | | | $ | 2.86 | | | | | | 4.21 | | |
|
|
General and administrative
|
| | | $ | 439,366 | | |
|
Research and development
|
| | | | 450,190 | | |
|
Total
|
| | | $ | 889,556 | | |
|
| | |
Number of
Shares |
| |
Weighted
Average Exercise Price |
| |
Weighted
Average Remaining Contractual Life (in Years) |
| |||||||||
Issued
|
| | | | 370,370 | | | | | $ | 2.70 | | | | |||||
Exercised
|
| | | | — | | | | | | — | | | | |||||
Expired
|
| | | | — | | | | | | — | | | | |||||
Warrants outstanding at December 31, 2015
|
| | | | 370,370 | | | | | $ | 2.70 | | | | |||||
Issued
|
| | | | — | | | | | | — | | | | |||||
Exercised
|
| | | | — | | | | | | — | | | | |||||
Expired
|
| | | | — | | | | | | — | | | | |||||
Warrants outstanding at December 31, 2016
|
| | | | 370,370 | | | | | $ | 2.70 | | | | | | 5.46 | | |
Warrants exercisable at December 31, 2016
|
| | | | 370,370 | | | | | $ | 2.70 | | | | | | 5.46 | | |
|
| | |
December 31,
|
| |||||||||
| | |
2016
|
| |
2015
|
| ||||||
Deferred tax assets: | | | | ||||||||||
Net operating loss carryforwards
|
| | | $ | 3,607,000 | | | | | $ | 816,000 | | |
Research and other credits
|
| | | | 364,000 | | | | | | 54,000 | | |
Reserves and accruals
|
| | | | 315,000 | | | | | | 39,000 | | |
Other intangibles
|
| | | | 9,000 | | | | | | 9,000 | | |
Total gross deferred tax assets
|
| | | | 4,295,000 | | | | | | 918,000 | | |
Less valuation allowance
|
| | | | (4,190,000) | | | | | | (873,000) | | |
Total deferred tax assets
|
| | | | 105,000 | | | | | | 45,000 | | |
Deferred tax liability: | | | | ||||||||||
Depreciation
|
| | | | (105,000) | | | | | | (45,000) | | |
Net deferred tax assets
|
| | | $ | — | | | | | $ | — | | |
|
| | |
Years Ended December 31,
|
| |||||||||
| | |
2016
|
| |
2015
|
| ||||||
U. S. Federal statutory tax rate
|
| | | | (35)% | | | | | | (35)% | | |
Change in valuation allowance
|
| | | | 36% | | | | | | 37% | | |
Tax credits
|
| | | | (3)% | | | | | | (3)% | | |
Other
|
| | | | 2% | | | | | | 1% | | |
Effective tax rate
|
| | | | 0.0% | | | | | | 0.0% | | |
|
Years Ending December 31,
|
| | |||||
2017
|
| | | $ | 2,650,000 | | |
2018
|
| | | | 854,000 | | |
Total
|
| | | $ | 3,504,000 | | |
|
| | |
Years Ended December 31,
|
| |||||||||
| | |
2016
|
| |
2015
|
| ||||||
General and administrative
|
| | | $ | 117,691 | | | | | $ | 42,455 | | |
Research and development
|
| | | | 846,818 | | | | | | 319,091 | | |
Total
|
| | | $ | 964,509 | | | | | $ | 361,546 | | |
|
| | |
Page
Number |
| |||
| | | | F-26 | | | |
| | | | F-27 | | | |
| | | | F-28 | | | |
| | | | F-29 | | | |
| | | | F-30 | | |
| | |
September 30,
2017 |
| |
December 31,
2016 |
| ||||||
| | |
(Unaudited)
|
| | ||||||||
ASSETS | | | | ||||||||||
Current assets: | | | | ||||||||||
Cash
|
| | | $ | 3,400,481 | | | | | $ | 14,925,820 | | |
Certificate of deposit
|
| | | | 50,033 | | | | | | 50,033 | | |
Research and development contract advances
|
| | | | 294,206 | | | | | | — | | |
Prepaid expenses and other current assets
|
| | | | 145,068 | | | | | | 162,398 | | |
Deferred offering costs
|
| | | | 240,823 | | | | | | — | | |
Total current assets
|
| | | | 4,130,611 | | | | | | 15,138,251 | | |
Property and equipment, net
|
| | | | 1,741,037 | | | | | | 1,023,366 | | |
Trademark
|
| | | | 175,000 | | | | | | — | | |
Long-term service contract
|
| | | | 23,282 | | | | | | — | | |
Deposits
|
| | | | 225,500 | | | | | | 117,000 | | |
Total assets
|
| | | $ | 6,295,430 | | | | | $ | 16,278,617 | | |
LIABILITIES AND STOCKHOLDERS’ EQUITY | | | | ||||||||||
Current liabilities: | | | | ||||||||||
Accounts payable and accrued expenses
|
| | | $ | 772,245 | | | | | $ | 549,963 | | |
Accrued compensation and related expenses
|
| | | | 725,196 | | | | | | 408,559 | | |
Accrued deferred offering costs
|
| | | | 196,694 | | | | | | — | | |
Research and development contract liabilities
|
| | | | 156,969 | | | | | | — | | |
Current portion of deferred rent
|
| | | | 63,636 | | | | | | 109,091 | | |
Total current liabilities
|
| | | | 1,914,740 | | | | | | 1,067,613 | | |
Deferred rent, net of current portion
|
| | | | — | | | | | | 36,364 | | |
Total liabilities
|
| | | | 1,914,740 | | | | | | 1,103,977 | | |
Commitments and contingencies | | | | ||||||||||
Stockholders’ equity: | | | | ||||||||||
Preferred Stock, $0.001 par value, authorized – 10,000,000 shares; issued and
outstanding – none |
| | | | — | | | | | | — | | |
Common stock, $0.001 par value; authorized – 50,000,000 shares; issued and
outstanding – 10,635,684 shares |
| | | | 10,636 | | | | | | 10,636 | | |
Additional paid-in capital
|
| | | | 26,752,048 | | | | | | 24,751,017 | | |
Accumulated deficit
|
| | | | (22,381,899) | | | | | | (9,587,013) | | |
Total stockholders’ equity
|
| | | | 4,380,690 | | | | | | 15,174,640 | | |
Total liabilities and stockholders’ equity
|
| | | $ | 6,295,430 | | | | | $ | 16,278,617 | | |
|
| | |
Nine Months Ended
September 30, |
| |||||||||
| | |
2017
|
| |
2016
|
| ||||||
Revenue
|
| | | $ | — | | | | | $ | — | | |
Operating expenses: | | | | ||||||||||
General and administrative
|
| | | | 2,914,452 | | | | | | 1,193,527 | | |
Research and development
|
| | | | 9,880,529 | | | | | | 3,622,409 | | |
Total operating expenses
|
| | | | 12,794,981 | | | | | | 4,815,936 | | |
Loss from operations
|
| | | | (12,794,981) | | | | | | (4,815,936) | | |
Interest income
|
| | | | — | | | | | | 52 | | |
Net loss
|
| | | $ | (12,794,981) | | | | | $ | (4,815,884) | | |
Net loss per common share – basic and diluted
|
| | | $ | (1.20) | | | | | $ | (0.65) | | |
Weighted average common shares outstanding – basic and diluted
|
| | | | 10,635,684 | | | | | | 7,352,704 | | |
|
| | |
Common Stock
|
| |
Additional
Paid-in Capital |
| |
Accumulated
Deficit |
| |
Total
Stockholders’ Equity |
| ||||||||||||||||||
| | |
Shares
|
| |
Par
Value |
| ||||||||||||||||||||||||
Balance, December 31, 2016
|
| | | | 10,635,684 | | | | | $ | 10,636 | | | | | $ | 24,751,017 | | | | | $ | (9,587,013) | | | | | $ | 15,174,640 | | |
Stock-based compensation
|
| | | | — | | | | | | — | | | | | | 2,001,031 | | | | | | — | | | | | | 2,001,031 | | |
Net loss
|
| | | | — | | | | | | — | | | | | | — | | | | | | (12,794,981) | | | | | | (12,794,981) | | |
Balance, September 30, 2017
|
| | | | 10,635,684 | | | | | $ | 10,636 | | | | | $ | 26,752,048 | | | | | $ | (22,381,994) | | | | | $ | 4,380,690 | | |
|
| | |
Nine Months Ended
September 30, |
| |||||||||
| | |
2017
|
| |
2016
|
| ||||||
Cash flows from operating activities: | | | | ||||||||||
Net loss
|
| | | $ | (12,794,981) | | | | | $ | (4,815,884) | | |
Adjustments to reconcile net loss to net cash used in operating activities: | | | | ||||||||||
Depreciation and amortization
|
| | | | 293,034 | | | | | | 139,541 | | |
Deferred rent
|
| | | | (81,819) | | | | | | 93,183 | | |
Stock-based compensation
|
| | | | 2,001,031 | | | | | | 435,982 | | |
Changes in operating assets and liabilities: | | | | ||||||||||
(Increase) decrease in – | | | | ||||||||||
Research and development contract advances
|
| | | | (294,206) | | | | | | — | | |
Prepaid expenses and other current assets
|
| | | | (5,952) | | | | | | (110,891) | | |
Deposits
|
| | | | (108,500) | | | | | | (9,283) | | |
Increase (decrease) in – | | | | ||||||||||
Accounts payable and accrued expenses
|
| | | | 222,281 | | | | | | 117,327 | | |
Accrued compensation and related expenses
|
| | | | 316,637 | | | | | | 189,212 | | |
Research and development contract liabilities
|
| | | | 156,969 | | | | | | — | | |
Net cash used in operating activities
|
| | | | (10,295,506) | | | | | | (3,960,813) | | |
Cash flows from investing activities: | | | | ||||||||||
Acquisition of trademark
|
| | | | (175,000) | | | | | | — | | |
Purchases of property and equipment
|
| | | | (1,010,705) | | | | | | (421,141) | | |
Net cash used in investing activities
|
| | | | (1,185,705) | | | | | | (421,141) | | |
Cash flow from financing activities: | | | | ||||||||||
Payment of deferred offering costs
|
| | | | (44,128) | | | | | | — | | |
Payment of deferred private sale of common stock
|
| | | | — | | | | | | (7,685) | | |
Net cash used in financing activities:
|
| | | | (44,128) | | | | | | (7,685) | | |
Cash: | | | | ||||||||||
Net decrease
|
| | | | (11,525,339) | | | | | | (4,389,639) | | |
Balance at beginning of period
|
| | | | 14,925,820 | | | | | | 6,405,207 | | |
Balance at end of period
|
| | | $ | 3,400,481 | | | | | $ | 2,015,568 | | |
Supplemental disclosures of cash flow information: | | | | ||||||||||
Cash paid for – | | | | ||||||||||
Interest
|
| | | $ | — | | | | | $ | — | | |
Income taxes
|
| | | $ | — | | | | | $ | — | | |
Non-cash financing activities: | | | | ||||||||||
Accrual of deferred offering costs
|
| | | $ | 196,694 | | | | | | — | | |
|
|
Laboratory equipment
|
| |
5 years
|
|
|
Computer equipment
|
| |
3 years
|
|
|
Furniture and fixtures
|
| |
3 years
|
|
| | |
September 30,
|
| |||||||||
| | |
2017
|
| |
2016
|
| ||||||
Common stock warrants
|
| | | | 370,370 | | | | | | 370,370 | | |
Common stock options
|
| | | | 2,366,221 | | | | | | 1,603,221 | | |
Total
|
| | | | 2,736,591 | | | | | | 1,973,591 | | |
|
| | |
September 30,
2017 |
| |
December 31,
2016 |
| ||||||
Laboratory equipment
|
| | | $ | 2,147,152 | | | | | $ | 1,194,473 | | |
Furniture and fixtures
|
| | | | 9,606 | | | | | | 1,832 | | |
Computer equipment
|
| | | | 70,496 | | | | | | 44,166 | | |
Leasehold improvements
|
| | | | 53,717 | | | | | | 29,795 | | |
| | | | | 2,280,971 | | | | | | 1,270,266 | | |
Less accumulated depreciation and amortization
|
| | | | (539,934) | | | | | | (246,900) | | |
Net property and equipment
|
| | | $ | 1,741,037 | | | | | $ | 1,023,366 | | |
|
| | |
Nine Months Ended
September 30, |
| |||||||||
| | |
2017
|
| |
2016
|
| ||||||
General and administrative
|
| | | $ | 10,466 | | | | | $ | 2,945 | | |
Research and development
|
| | | | 282,568 | | | | | | 136,596 | | |
Total
|
| | | $ | 293,034 | | | | | $ | 139,541 | | |
|
|
Risk-free interest rate
|
| |
1.48 to 2.17%
|
|
|
Expected dividend yield
|
| |
0%
|
|
|
Expected volatility
|
| |
80.90% to 82.97%
|
|
|
Expected life
|
| |
3.46 to 7 years
|
|
|
Stock price per share
|
| |
$7.00
|
|
|
Risk-free interest rate
|
| |
1.01 to 1.50%
|
|
|
Expected dividend yield
|
| |
0%
|
|
|
Expected volatility
|
| |
112.36%
|
|
|
Expected life
|
| |
4.46 to 5 years
|
|
|
Stock price per share
|
| |
$5.00
|
|
| | |
Number of
Shares |
| |
Weighted
Average Exercise Price |
| |
Weighted
Average Remaining Contractual Life (in Years) |
| |||||||||
Stock options outstanding at December 31, 2016
|
| | | | 1,663,221 | | | | | $ | 2.86 | | | | |||||
Granted
|
| | | | 703,000 | | | | | $ | 5.00 | | | | |||||
Exercised
|
| | | | — | | | | | | — | | | | |||||
Expired
|
| | | | — | | | | | | — | | | | |||||
Stock options outstanding at September 30, 2017
|
| | | | 2,366,221 | | | | | $ | 3.50 | | | | | | 5.81 | | |
Stock options exercisable at December 31, 2016
|
| | | | 60,183 | | | | | $ | 2.86 | | | | |||||
Stock options exercisable at September 30, 2017
|
| | | | 463,726 | | | | | $ | 2.96 | | | | | | 5.24 | | |
|
Exercise Prices
|
| |
Options
Outstanding (Shares) |
| |
Options
Exercisable (Shares) |
| ||||||
$2.86
|
| | | | 1,663,221 | | | | | | 442,101 | | |
$5.00
|
| | | | 703,000 | | | | | | — | | |
| | | | | 2,366,221 | | | | | | 463,726 | | |
|
| | |
Nine Months Ended
September 30, |
| |||||||||
| | |
2017
|
| |
2016
|
| ||||||
General and administrative
|
| | | $ | 737,119 | | | | | $ | 216,015 | | |
Research and development
|
| | | | 1,263,912 | | | | | | 219,967 | | |
Total
|
| | | $ | 2,001,031 | | | | | $ | 435,982 | | |
|
| | |
Number of
Shares |
| |
Weighted
Average Exercise Price |
| |
Weighted
Average Remaining Contractual Life (in Years) |
| |||||||||
Warrants outstanding at December 31, 2016
|
| | | | 370,370 | | | | | $ | 2.70 | | | | |||||
Issued
|
| | | | — | | | | | | — | | | | |||||
Exercised
|
| | | | — | | | | | | — | | | | |||||
Expired
|
| | | | — | | | | | | — | | | | |||||
Warrants outstanding at September 30, 2017
|
| | | | 370,370 | | | | | $ | 2.70 | | | | | | 4.71 | | |
Warrants exercisable at December 31, 2016
|
| | | | 370,370 | | | | | $ | 2.70 | | | | |||||
Warrants exercisable at September 30, 2017
|
| | | | 370,370 | | | | | $ | 2.70 | | | | | | 4.71 | | |
|
Years Ending December 31,
|
| | |||||
2017
|
| | | $ | 676,500 | | |
2018
|
| | | | 854,000 | | |
Total
|
| | | $ | 1,530,500 | | |
|
| | |
Nine Months Ended
September 30, |
| |||||||||
| | |
2017
|
| |
2016
|
| ||||||
General and administrative
|
| | | $ | 172,773 | | | | | $ | 63,818 | | |
Research and development
|
| | | | 1,297,909 | | | | | | 574,364 | | |
Total
|
| | | $ | 1,470,682 | | | | | $ | 638,182 | | |
|
|
MDB Capital Group, LLC
|
| |
Feltl and Company
|
|
|
SEC Filing Fee
|
| | | $ | 7,003 | | |
|
FINRA Fee
|
| | | $ | 8,950 | | |
|
Underwriter’s Legal Fees and Expenses
|
| | | $ | 150,000 | | |
|
Nasdaq Fee
|
| | | $ | 50,000 | | |
|
Printing Expenses
|
| | | $ | 40,000 | | |
|
Accounting Fees and Expenses
|
| | | $ | 100,000 | | |
|
Legal Fees and Expenses
|
| | | $ | 250,000 | | |
|
Transfer Agent and Registrar Expenses
|
| | | $ | 15,000 | | |
|
Miscellaneous
|
| | | $ | 129,047 | | |
|
Total
|
| | | $ | 750,000 | | |
| Dated: November 17, 2017 | | |
/s/ Daniel R. Passeri
Daniel R. Passeri
Chief Executive Officer and Director (Principal Executive Officer) |
|
| Dated: November 17, 2017 | | |
/s/ Gary Schuman
Gary Schuman
Interim Chief Financial Officer (Principal Financial and Accounting Officer) |
|
| Dated: November 17, 2017 | | |
/s/ ***
Anthony DiGiandomenico, Director
|
|
| Dated: November 17, 2017 | | |
/s/ ***
Cameron Gray, Director
|
|
| Dated: November 17, 2017 | | |
/s/ ***
Peter A. Kiener, Director
|
|
| Dated: November 17, 2017 | | |
/s/ ***
Steven McKnight, Director
|
|
| Dated: November 17, 2017 | | |
/s/ ***
Christopher Marlett, Director
|
|
| Dated: November 17, 2017 | | |
/s/ ***
Barry Simon, Director
|
|
| Dated: November 17, 2017 | | |
/s/ ***
Amy Wang, Director
|
|
|
*** By:
/s/ Daniel R. Passeri
Daniel R. Passeri
Attorney-in-fact |
| | | |
Exhibit 23.1
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Directors
Cue Biopharma, Inc.
We hereby consent to the use in the Prospectus constituting a part of this pre-effective amendment number 2 to Form S-1 Registration Statement (registration number 333-220550) of our report dated September 21, 2017, relating to the balance sheets of Cue Biopharma, Inc. (the “Company”) as of December 31, 2016 and 2015, and the related statements of operations, stockholders’ equity, and cash flows for each of the years in the two-year period ended December 31, 2016, which is contained in the Prospectus. Our report contains an explanatory paragraph regarding the Company’s ability to continue as a going concern.
We also consent to the reference to us under the caption “Experts” in the Prospectus.
/s/ Gumbiner Savett Inc.
November 17, 2017
Santa Monica, California