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Condensed Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current Assets:    
Cash and cash equivalents $ 10,379,882 $ 8,691,155
Prepaid expenses 425,246 833,276
Other current assets 7,997  
Total current assets 10,813,125 9,524,431
Other assets   7,997
Total assets 10,813,125 9,532,428
Current Liabilities:    
Accounts payable and accrued expenses 498,134 927,606
Accrued compensation 513,509 760,782
Current portion of long-term debt   146,052
Total current liabilities 1,011,643 1,834,440
Warrant liability 5,098,404  
Long-term debt, net of current portion   4,233,059
Total liabilities 6,110,047 6,067,499
Stockholders' equity:    
Common stock, $0.0001 par value; authorized shares — 50,000,000; issued and outstanding shares - 12,350,360 and 7,201,774 at September 30, 2016 and December 31, 2015, respectively 1,235 720
Additional paid-in capital 61,983,643 51,524,821
Accumulated deficit (57,281,800) (48,060,612)
Total stockholders' equity 4,703,078 3,464,929
Total liabilities and stockholders' equity $ 10,813,125 $ 9,532,428