Quarterly report pursuant to Section 13 or 15(d)

Stock Options (Tables)

Stock Options (Tables)

9 Months Ended

Sep. 30, 2015

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Assumptions Used Principally in Determining Fair Value of Options Granted

The assumptions used principally in determining the fair value of options granted were as follows:

		Nine Month Ended, September 30,
		2015				2014
Risk free interest rate			1.70	%			1.97	%
Expected dividend yield			0	%			0	%
Expected term in years		7.23				6.25
Expected volatility			92.7	%			91.5	%
Estimated forfeiture rate			3	%			20	%

Summary of Option Activity

A summary of option activity for the nine months ended September 30, 2015 and is presented below:

										Weighted
										Average
										Remaining
						Weighted				Contractual				Average
						Average				Term in				Intrinsic
Options		Shares				Exercise Price				Years				Value
Outstanding at December 31, 2014			3,556,691			$	0.83
Granted			322,502			$	2.53
Exercised			(51,128	)		$	0.11							$	95,108
Outstanding at September 30, 2015			3,828,065			$	0.99				8.23			$	2,649,238
Vested September 30, 2015			1,378,857			$	0.77				7.51			$	1,248,819