INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of Deferred Tax Assets and Liabilities

	2016			2015
Deferred tax assets (liabilities):
Net operating loss carryforwards	$	95,329,928		$	68,700,379
Research and development credit		7,326,715			4,962,298
Noncash compensation		12,915,672			12,087,968
Other		599,514			608,205
Deferred tax asset, excluding valuation allowance		116,171,829			86,358,850
Less valuation allowance		(116,171,829	)		(86,358,850	)
Net deferred tax assets	$	--		$	--

Schedule of Effective Income Tax Rate Reconciliation

	For the year ended December 31,
	2016			2015			2014
Loss before income taxes, as reported in the consolidated statements of operations	$	(78,252,894	)	$	(62,948,646	)	$	(55,781,277	)
Computed “expected” tax benefit	$	(26,605,984	)	$	(21,402,540	)	$	(18,965,634	)
Increase (decrease) in income taxes resulting from:
Expected benefit from state and local taxes		(835,072	)		(672,306	)		(2,533,156	)
Research and development credits		(2,364,417	)		(1,603,364	)		(1,092,767	)
Other		(7,506	)		566,310			35,459
Permanent difference related to contingent note payable		--			--			(244,814	)
Impact of change in state tax rates on deferred taxes		--			5,836,819			--
Change in the balance of the valuation allowance for deferred tax assets		29,812,979			17,275,081			22,800,912
	$	--		$	--		$	--