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 |
|
|