Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Components of Income Tax Expense

The components of income tax expense are as follows:

	Years Ended December 31,
	2016		2015
Current:
Federal	$	—	$	—
State		10,118		10,189
Total current income tax expense	$	10,118	$	10,189
Deferred:
Federal	$	—	$	—
State		—		—
Total deferred income tax expense	$	—	$	—
Total income tax expense	$	10,118	$	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 2016 and 2015 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,
	2016			2015
Computed tax (benefit) at 34%	$	(8,850,007	)	$	(7,271,785	)
State taxes, net of federal benefit		(462,609	)		(918,079	)
Stock-based compensation		210,367			102,699
Expiring state net operating loss ("NOL") carryforwards		94,962			(20,086	)
Return to provision		248,263			(27,934	)
Other		25,718			44,679
Research and development tax credit - state		(453,071	)		(300,213	)
Research and development tax credit - federal		(341,785	)		(342,681	)
Change in valuation reserve		9,538,280			8,743,589
	$	10,118		$	10,189

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities comprise the following:

	Years Ended December 31,
	2016			2015
Deferred tax assets:
Net operating loss carryforwards	$	37,114,445		$	28,795,562
Research and development credits		2,132,050			1,435,314
Deferred revenue		177,683			17,396
Inventory reserve		99,583			104,182
Fixed assets and intangibles		193,833			50,128
Change in fair value of warrant liability		—			111,993
Accrued NuvoGen liability		3,176,449			3,282,756
Capitalized research and development		—			27,583
Accrued expense		351,505			—
Other		233,438			115,792
		43,478,986			33,940,706
Valuation allowance		(43,478,986	)		(33,940,706	)
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	2016 Bonus Amount
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		21,079,240
	2036		23,706,988
		$	102,162,333