Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2016

Stock-Based Compensation

Schedule of stock-based compensation expense

	Year Ended December 31, 2016						Year Ended December 31, 2015
	Research and Development		General and Administrative		Total		Research and Development		General and Administrative		Total
Stock option grants	$	1,137,639	$	1,891,887	$	3,029,526	$	403,395	$	860,281	$	1,263,676
Restricted stock awards		143,469		96,371		239,840		142,506		194,443		336,949
	$	1,281,108	$	1,988,258	$	3,269,366	$	545,901	$	1,054,724	$	1,600,625

Summary of stock option activity

		Weighted
		Average		Weighted
		Grant Date		Average
	Options	Fair Value		Exercise Price
Outstanding as of December 31, 2014	542,550	$	0.84	$	3.98
Granted under the 2014 Plan	1,110,806	$	9.13	$	13.58
Exercised	(15,957)	$	0.84	$	3.98
Outstanding as of December 31, 2015	1,637,399	$	6.47	$	10.49
Granted under the 2014 Plan	135,000	$	5.96	$	8.99
Granted as an inducement grant	150,000	$	6.95	$	10.23
Forfeited	(113,906)	$	8.12	$	12.67
Outstanding as of December 31, 2016	1,808,493	$	6.36	$	10.22

Summary of restricted stock activity

		Weighted
		Average
		Grant Date
	Shares	Fair Value
Unvested as of December 31, 2014	579,882	$	1.65
Vested	(181,211)	$	1.65
Unvested as of December 31, 2015	398,671	$	1.65
Vested	(144,969)	$	1.65
Unvested as of December 31, 2016	253,702	$	1.65