Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2015

Summary of Assets and Liabilities Measured at Fair Value

Below is a summary of assets and liabilities measured at fair value as of December 31, 2015 and 2014.

			Fair Value Measurements Using
	December 31, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Money market funds	$	10,221,563	$	10,221,563	$	—	$	—
Corporate debt securities		24,334,917		—		24,334,917		—
Total assets	$	34,556,480	$	10,221,563	$	24,334,917	$	—

			Fair Value Measurements Using
	December 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Money market funds	$	6,998,111	$	6,998,111	$	—	$	—
Municipal bonds		70,000		—		70,000		—
Corporate debt securities		28,589,331		—		28,589,331		—
Total assets	$	35,657,442	$	6,998,111	$	28,659,331	$	—

Convertible promissory notes [Member]

Fair Value Measurements of Using Significant Unobservable Level 3 Inputs

The following table presents activity for the convertible promissory notes measured at fair value using significant unobservable Level 3 inputs during the year ended December 31, 2013.

	Fair Value Measurements at Reporting Date Using Significant Unobservable Inputs (Level 3)
Balance at December 31, 2012	$	—
Issuance of convertible promissory notes		970,000
Accretion of debt discount to interest expense		31,439
Conversion to equity at IPO		(1,001,439	)
Balance at December 31, 2013	$	—

Preferred stock warrant liability [Member]

Fair Value Measurements of Using Significant Unobservable Level 3 Inputs

The following table presents activity for the convertible preferred stock warrant liability measured at fair value using significant unobservable Level 3 inputs during the year ended December 31, 2013.

	Fair Value Measurements at Reporting Date Using Significant Unobservable Inputs (Level 3)
Balance at December 31, 2012	$	160,345
Issuance of preferred stock warrants		625,679
Changes in fair value reflected as other financing expense		3,457,184
Conversion to equity at IPO		(4,243,208	)
Balance at December 31, 2013	$	—