Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Taxes

Schedule of components of deferred tax assets

	December 31, 2017		December 31, 2016
Deferred tax assets:
Net federal operating loss carryforward	$	12,844,032	$	12,747,837
Net foreign operating loss carryforward		49,846		23,293
Net state operating loss carryforward		7,981,812		4,068,086
Non-cash compensation		1,719,315		1,450,620
Research and development credits		5,713,709		3,491,251
Deferred finance costs		44,042		—
Fixed Assets		2,597		—
Accrued expenses		472,004		308,007
Deferred tax asset, excluding valuation allowance		28,827,357		22,089,094
Fixed Assets		—		(19,985)
Less valuation allowance		(28,827,357)		(22,069,109)
Net deferred tax assets	$	—	$	—

Schedule of income tax rate reconciliation

	December 31, 2017		December 31, 2016
U.S. federal statutory income tax rate	34.0	%	34.0	%
State taxes, net of federal benefit	10.0		9.4
Permanent differences	(2.9)		(3.7)
Tax credit	7.7		12.8
US Federal tax rate change - tax reform	(25.4)		—
Change in valuation allowance	(23.4)		(52.5)
Other	—		—
Effective tax rate	—	%	—	%