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Summarized Quarterly Data (Tables)
 12 Months Ended
Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]  
Summarized Quarterly Data

Summarized quarterly data for the years ended December 31, 2014 and 2013 are as follows

 

 

For the Quarters Ended

 

 

 

March 31,

 

 

June 30,

 

 

September 30,

 

 

December 31,

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Research and development expense

 

$

1,852,116

 

 

$

2,874,977

 

 

$

3,088,373

 

 

$

2,176,388

 

General and administrative expense

 

$

1,070,479

 

 

$

616,888

 

 

$

732,800

 

 

$

738,012

 

Net loss

 

$

(2,955,484

)

 

$

(3,547,040

)

 

$

(3,825,354

)

 

$

(2,919,803

)

Net loss per common share, basic and diluted (1)

 

$

(0.49

)

 

$

(0.59

)

 

$

(0.63

)

 

$

(0.48

)

Weighted average shares outstanding,

basic and diluted

 

 

6,002,936

 

 

 

6,027,672

 

 

 

6,054,250

 

 

 

6,065,841

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Research and development expense

 

$

110,981

 

 

$

130,846

 

 

$

78,731

 

 

$

636,423

 

General and administrative expense

 

$

221,049

 

 

$

72,578

 

 

$

406,862

 

 

$

944,359

 

Net loss

 

$

(493,992

)

 

$

(239,871

)

 

$

(485,904

)

 

$

(1,616,698

)

Net loss per common share, basic and diluted (1)

 

$

(0.44

)

 

$

(0.21

)

 

$

(0.41

)

 

$

(0.27

)

Weighted average shares outstanding,

    basic and diluted

 

 

1,133,375

 

 

 

1,137,125

 

 

 

1,190,212

 

 

 

5,971,236

 

 

—

Net loss per share is computed independently for each of the quarters presented.  Therefore, the sum of the quarterly per-share calculations will not necessarily equal the annual per share calculation.