Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Components of Income Tax Expense

The components of income tax expense are as follows:

	Years Ended December 31,
	2015		2014
Current:
Federal	$	—	$	—
State		10,189		—
Total current income tax expense	$	10,189	$	—
Deferred:
Federal	$	—	$	—
State		—		—
Total deferred income tax expense	$	—	$	—
Total income tax expense	$	10,189	$	—

Schedule of Difference in Actual Income Tax Expense Computed by Applying the Statutory Federal Income Tax Rate to Loss Before Income Taxes

The Company’s actual income tax expense for the years 2015 and 2014 differ from the expected amount computed by applying the statutory federal income tax rate of 34% to loss before income taxes as follows:

	Years Ended December 31,
	2015			2014
Computed tax (benefit) at 34%	$	(7,271,785	)	$	(4,745,859	)
State taxes, net of federal benefit		(918,079	)		(233,632	)
Stock-based compensation		102,699			59,119
Expiring state net operating loss ("NOL") carryforwards		(20,086	)		131,342
Return to provision		(27,934	)		(4,269	)
Other		44,679			37,969
Research and development tax credit - state		(300,213	)		(20,720	)
Research and development tax credit - federal		(342,681	)		(11,224	)
Change in valuation reserve		8,743,589			4,787,274
	$	10,189		$	—

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities comprise the following:

	Years Ended December 31,
	2015			2014
Deferred tax assets:
Net operating loss carryforwards	$	28,795,562		$	20,977,060
Research and development credits		1,435,314			796,328
Deferred revenue		17,396			15,166
Inventory reserve		104,182			19,953
Fixed assets and intangibles		50,128			53,822
Change in fair value of warrant liability		111,993			3,541
Accrued NuvoGen liability		3,282,756			3,190,603
Capitalized research and development		27,583			55,354
Other		115,792			85,290
		33,940,706			25,197,117
Valuation allowance		(33,940,706	)		(25,197,117	)
Deferred tax asset, net	$	—		$	—

Summary of Federal Net Operating Loss Carryforwards

The Company’s federal NOL carryforwards have the following expiration dates:

	Year of Expiration	Carryforwards
Federal NOL carryforwards
	2021	$	211,806
	2023		1,635,651
	2024		1,217,290
	2025		1,409,498
	2026		1,175,594
	2027		1,676,458
	2028		3,037,785
	2029		3,753,314
	2030		623,235
	2031		5,435,312
	2032		10,913,787
	2033		12,095,966
	2034		14,190,409
	2035		21,120,642
		$	78,496,747