Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2015

Accounting Policies [Abstract]

Product Revenue from Sale of Instruments and Consumables

The Company had product revenue consisting of revenue from the sale of instruments and consumables for the years ended December 31, 2015 and 2014 as follows:

	Years Ended December 31,
	2015		2014
Instruments	$	789,231	$	793,505
Consumables		2,742,797		994,700
Total product sales	$	3,532,028	$	1,788,205

Schedule of Black-Scholes Assumptions Used to Calculate the Fair Value of Options Granted

Black-Scholes assumptions used to calculate the fair value of options granted during the years ended December 31, 2015 and 2014 were as follows:

	2015	2014
Fair value of common stock	$  4.88 - 14.64	$  2.15 - 12.89
Risk-free interest rate	1.36% - 2.22%	1.65% - 2.03%
Expected volatility	60.5% - 75.0%		70%
Expected term	5.0 to 10 years	5.4 to 6.1 years
Expected dividend yield	—%	—%

Schedule of Stock-Based Compensation Cost

Stock-based compensation cost amounted to the following:  

	Year Ended December 31,
	2015		2014
Selling, general and administrative	$	367,000	$	163,540
Research and development		38,426		21,426
	$	405,426	$	184,966