Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2016

Stock-Based Compensation

Schedule of stock-based compensation expense

	Research and Development		General and Administrative		Total
Stock option grants	$	558,922	$	897,696	$	1,456,618
Restricted stock awards		64,729		55,191		119,920
	$	623,651	$	952,887	$	1,576,538

Summary of stock option activity

:

		Weighted
		Average		Weighted
		Grant Date		Average
	Options	Fair Value		Exercise Price
Outstanding as of December 31, 2015	1,637,399	$	6.47	$	10.49
Granted	120,000	$	5.50	$	8.35
Outstanding as of June 30, 2016	1,757,399	$	6.40	$	10.34

Summary of restricted stock activity

		Weighted
		Average
		Grant Date
	Shares	Fair Value
Unvested as of December 31, 2015	398,671	$	1.65
Vested	(72,486)	$	1.65
Unvested as of June 30, 2016	326,185	$	1.65