Significant Accounting Policies (Tables)
|
12 Months Ended |
Dec. 31, 2017 |
|---|
| Accounting Policies [Abstract] |
|
| Schedule of Cash and Cash Equivalents and Restricted Cash |
Cash, cash equivalents, and
restricted cash consists of the following:
| |
|
December 31, |
|
| |
|
2017 |
|
|
2016 |
|
| Cash |
|
$ |
206,510 |
|
|
$ |
1,127,530 |
|
| Money market fund |
|
|
62,330,985 |
|
|
|
13,864,727 |
|
| Cash and cash equivalents |
|
|
62,537,495 |
|
|
|
14,992,257 |
|
| |
|
|
|
|
|
|
|
|
| Restricted cash, current |
|
|
158,991 |
|
|
|
150,000 |
|
| Restricted cash, noncurrent |
|
|
— |
|
|
|
50,000 |
|
| Restricted cash |
|
|
158,991 |
|
|
|
200,000 |
|
| Total cash, cash equivalents, and restricted cash shown in the statement of cash flows |
|
$ |
62,696,486 |
|
|
$ |
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 years ended December 31, 2017, 2016 and 2015:
| |
|
|
|
|
Years Ended December 31, |
|
| |
|
2017 |
|
|
2016 |
|
|
2015 |
|
| Basic and diluted net loss per share of common stock: |
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss |
|
|
(32,421,612 |
) |
|
|
(19,998,675 |
) |
|
$ |
(8,850,739 |
) |
| Weighted average shares of common stock outstanding |
|
|
50,176,953 |
|
|
|
41,137,518 |
|
|
|
31,350,145 |
|
| Net loss per share of common stock-basic and diluted |
|
$ |
(0.65 |
) |
|
$ |
(0.49 |
) |
|
$ |
(0.28 |
) |
|
| Potentially Dilutive Securities Excluded from Computation of Dilutive Weighted Average Shares Outstanding |
The impact of the following
potentially dilutive securities for the years ended December 31, 2017, 2016 and 2015 have been excluded from the computation of
dilutive weighted average shares outstanding as the inclusion would be antidilutive.
| |
|
December 31, |
|
| |
|
2017 |
|
|
2016 |
|
|
2015 |
|
| Warrants |
|
|
1,288,500 |
|
|
|
1,288,500 |
|
|
|
1,969,250 |
|
| Stock options |
|
|
7,844,966 |
|
|
|
6,610,179 |
|
|
|
3,982,065 |
|
| |
|
|
9,133,466 |
|
|
|
7,898,679 |
|
|
|
5,951,315 |
|
|