Quarterly report pursuant to Section 13 or 15(d)

Significant Accounting Policies (Tables)

Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of Cash and Cash Equivalents and Restricted Cash

Cash, cash equivalents, and restricted cash consists of the following:

	March 31, 2017		December 31, 2016
Cash	$	100,046	$	1,127,530
Money market fund		48,827,079		13,864,727
Cash and cash equivalents		48,927,125		14,992,257

Restricted cash, current		150,000		150,000
Restricted cash, noncurrent		50,000		50,000
Restricted cash		200,000		200,000
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$	49,127,125	$	15,192,257

Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2017 and 2016

	Three Months Ended March 31
	2017			2016
Basic and diluted net loss per share of common stock:
Net loss	$	(7,465,439	)	$	(2,892,241	)
Weighted average shares of common stock outstanding		46,381,482			37,605,210
Net loss per share of common stock-basic and diluted	$	(0.16	)	$	(0.08	)

Potentially Dilutive Securities Excluded from the Computation of Dilutive Weighted Average Shares Outstanding

The following potentially dilutive securities outstanding during the three months ended March 31, 2017 and 2016 have been excluded from the computation of dilutive weighted average shares outstanding as the inclusion would be anti-dilutive.

	March 31,
	2017		2016
Warrants		1,288,500		1,967,375
Stock options		7,513,130		5,152,685
Total		8,801,630		7,120,060