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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities    
Net loss $ (17,073,018) $ (20,955,594)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 171,109 89,958
Stock-based compensation expense 2,262,098 3,506,482
Amortization and accretion on investments (15,895) 78,751
Changes in operating assets and liabilities:    
Accounts receivable (22,554) (11,595)
Inventory 207,063 (274,302)
Prepaid expenses and other current assets (283,209) (1,351,291)
Other assets 64,800 (64,800)
Accounts payable 601,646 508,066
Accrued expenses and other current liabilities 101,705 (78,918)
Deferred revenue 8,323 65,115
Deferred rent 62,385 2,363
Other long term liabilities 0 (15,442)
Net cash used in operating activities (13,915,547) (18,501,207)
Investing activities    
Purchases of marketable securities (9,607,390) (22,074,850)
Proceeds from maturities and sales of marketable securities 40,282,017 13,112,760
Purchases of property and equipment (53,741) (290,202)
Proceeds from sales of property and equipment 3,375 0
Net cash provided by (used in) investing activities 30,624,261 (9,252,292)
Financing activities    
Proceeds from exercise of common stock 2,047 8,043
Net cash provided by financing activities 2,047 8,043
Net increase (decrease) in cash and cash equivalents 16,710,761 (27,745,456)
Cash and cash equivalents at beginning of period 22,416,040 66,686,695
Cash and cash equivalents at end of period 39,126,801 38,941,239
Supplemental cash flow information    
Inventory purchases included in accrued expenses at June 30, 2017 441,116 0
Property and equipment purchases included in accounts payable at June 30, 2017 and 2016 19,630 161,049
Property and equipment purchases included in accounts payable and accrued expenses at December 31, 2016 and 2015 $ 7,100 $ 106,680