Quarterly report pursuant to Section 13 or 15(d)

Significant Accounting Policies (Tables)

v3.7.0.1
Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2017
Accounting Policies [Abstract]  
Schedule of Cash and Cash Equivalents and Restricted Cash

Cash and cash equivalents consist of the following:

 

    June 30, 2017     December 31, 2016  
Cash   $ 174,627     $ 1,127,530  
Money market fund     42,858,135       13,864,727  
Cash and cash equivalents     43,032,762       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   $ 43,232,762     $ 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 and six months ended June 30, 2017 and 2016:

 

    Three Months Ended June 30     Six Months Ended June 30  
    2017     2016     2017     2016  
Basic and diluted net loss per share of common stock:                                
Net loss   $ (7,296,887 )   $ (4,189,391 )   $ (14,762,326 )   $ (7,081,632 )
Weighted average shares of common stock outstanding     50,193,726       38,748,452       48,298,135       38,176,831  
Net loss per share of common stock-basic and diluted   $ (0.15 )   $ (0.11 )   $ (0.31 )   $ (0.19 )

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

The following potentially dilutive securities outstanding at June 30, 2017 and 2016 have been excluded from the computation of dilutive weighted average shares outstanding for the computation of dilutive net loss per share as the inclusion would be anti-dilutive.

 

    June 30,  
    2017     2016  
Warrants     1,288,500       1,964,250  
Stock options     7,700,862       5,362,621  
Total     8,989,362       7,326,871