Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash Flows from Operating Activities
Net loss	$ (9,431,241)	$ (14,357,325)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	98,774	84,373
Amortization of deferred financing costs and debt issuance costs	77,231	75,818
Amortization of held to maturity investment premium	32,733	102,618
Stock-based compensation	460,505	1,046,086
Increase (decrease) in cash arising from changes in assets and liabilities:
Prepaid expenses, restricted cash and other current assets	261,700	(157,440)
Deposits		(50,000)
Related party receivable	(45,000)	(9,375)
Accounts payable	(1,485,735)	(385,161)
Accrued expenses and other liabilities	(1,030,413)	1,260,355
Other long term liabilities	289,500	12,228
Net Cash Used in Operating Activities	(10,771,946)	(12,377,823)
Cash Flows from Investing Activities
Proceeds from maturities of short-term investments	6,656,910	14,943,468
Purchases of short term investments		(11,090,091)
Purchase of property and equipment	(45,936)	(106,838)
Net Cash Provided by Investing Activities	6,610,974	3,746,539
Cash Flows from Financing Activities
Proceeds from public offering, net of underwriting discounts	6,287,250	11,400,870
Proceeds from issuance of common stock, net of commission	3,027,677
Proceeds from exercise of warrants	2,773,982
Stock issuance costs	(387,210)	(302,461)
Proceeds from long term debt		2,242,575
Payments on long term debt	(3,919,686)	(145,161)
Net Cash Provided by Financing Activities	7,782,013	13,195,823
Effect of exchange rate changes on cash and cash equivalents	(96,361)	(67,905)
Net Increase in Cash and Cash Equivalents	3,524,680	4,496,634
Cash and Cash Equivalents - Beginning of Period	4,939,955	3,714,304
Cash and Cash Equivalents - End of Period	8,464,635	8,210,938
Supplemental Disclosure for Cash Flow Information
Interest paid	$ 293,189	$ 257,339