Balance Sheets - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 8,691,155	$ 14,155,809
Prepaid expenses	833,276	931,461
Other current assets		137,812
Total current assets	9,524,431	15,225,082
Other assets	7,997	7,997
Total assets	9,532,428	15,233,079
Current Liabilities:
Accounts payable and accrued expenses	927,606	1,011,629
Accrued compensation	760,782	697,245
Other current liabilities		12,313
Current portion of long-term debt	146,052	126,806
Total current liabilities	1,834,440	1,847,993
Long-term debt, net of current portion	4,233,059	4,196,422
Total liabilities	$ 6,067,499	$ 6,044,415
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.0001 par value; authorized shares — 5,000,000 at December 31, 2015 and 2014; issued and outstanding shares — 0 at December 31, 2015 and 2014
Common stock, $0.0001 par value; authorized shares — 50,000,000 at December 31, 2015 and 2014; issued and outstanding shares — 7,201,774 and 6,112,091 at December 31, 2015 and 2014, respectively	$ 720	$ 611
Additional paid-in capital	51,524,821	45,127,202
Accumulated deficit	(48,060,612)	(35,939,149)
Total stockholders' equity	3,464,929	9,188,664
Total liabilities and stockholders' equity	$ 9,532,428	$ 15,233,079