Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash Flows from Operating Activities
Net loss	$ (8,929,615)	$ (5,381,323)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	53,937	$ 21,068
Amortization of debt issuance costs	50,074
Amortization of bond premium	$ 59,882	$ 106,762
Re-measurement of fair value of stock warrants liability		20,600
Stock based compensation	$ 786,847	497,772
Increase (decrease) in cash arising from changes in assets and liabilities:
Related party receivable	(9,375)	(11,446)
Prepaid expenses, and other current assets, and restricted cash	23,202	398,454
Deposits	(50,000)	(10,478)
Accounts payable	(569,974)	68,228
Accrued expenses and other payables	362,523	$ (182,944)
Other long term liabilities	$ 12,228
Accrued interest		$ (25,364)
Net Cash Used by Operating Activities	$ (8,210,271)	(4,498,671)
Cash Flows from Investing Activities
Proceeds from maturities of short term investments	12,967,509	9,631,543
Purchases of short term investments	(10,241,275)	(3,305,972)
Purchases of property and equipment	(103,369)	(448,234)
Net Cash Provided by Investing Activities	2,622,865	$ 5,877,337
Cash Flows from Financing Activities
Proceeds from March 2015 public offering, net of underwriting discounts	$ 11,400,870
Proceeds from the exercise of stock options		$ 37,719
Proceeds from long term debt	$ 2,242,575
Stock issuance costs	(302,461)
Net Cash Provided by Financing Activities	13,340,984	$ 37,719
Effect of exchange rate changes on cash and cash equivalents	(16,487)
Net Increase in Cash and Cash Equivalents	7,737,091	$ 1,416,385
Cash and Cash Equivalents - Beginning of Period	3,714,304	4,566,992
Cash and Cash Equivalents - End of Period	11,451,395	$ 5,983,377
Supplemental Disclosure for Cash Flow Information
Interest paid	$ 98,430
Cashless exercise of stock warrants		$ 143,190