Fair Value Instruments (Tables)

6 Months Ended

Jun. 30, 2017

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table classifies the Company’s financial assets and liabilities measured at fair value on a recurring basis at June 30, 2017 and December 31, 2016, respectively, in the fair value hierarchy:

	Balance at June 30, 2017
	Level 1		Level 2		Level 3		Total
Asset included in:
Cash and cash equivalents
Money market securities	$	12,434,936	$	—	$	—	$	12,434,936
Total	$	12,434,936	$	—	$	—	$	12,434,936
	Balance at December 31, 2016
	Level 1		Level 2		Level 3		Total
Asset included in:
Cash and cash equivalents
Money market securities	$	6,443,102	$	—	$	—	$	6,443,102
Investments available-for-sale at fair value
U.S. government obligations	$	1,300,663	$	—	$	—	$	1,300,663
Corporate debt securities	$	—	$	3,004,238	$	—	$	3,004,238
Total	$	7,743,765	$	3,004,238	$	—	$	10,748,003