XML 14 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Licensing revenue $ 125,000 $ 125,000 $ 250,000 $ 250,000
Operating expenses:        
Research and development 3,336,372 3,567,699 6,777,543 8,074,107
General and administrative 1,529,305 1,801,843 3,391,830 3,833,683
Total operating expenses 4,865,677 5,369,542 10,169,373 11,907,790
Loss from operations (4,740,677) (5,244,542) (9,919,373) (11,657,790)
Other income (expense):        
Gain (loss) from change in valuation of earn-out milestone liability 408,684 (69,392) 106,028 (241,528)
Loss from change in valuation of common stock warrant liability (18,018) (61,246)
Investment income, net 4,358 16,865 13,699 33,245
Interest expense (203,353) (360,259) (447,551) (752,562)
Other income (expense) 5 601 (253) 68
Total other income (expense), net 209,694 (430,203) (328,077) (1,022,023)
Net loss $ (4,530,983) $ (5,674,745) $ (10,247,450) $ (12,679,813)
Basic and diluted (in dollars per share) $ (0.19) $ (0.27) $ (0.43) $ (0.62)
Weighted average shares outstanding        
Basic and diluted (in shares) 24,124,052 20,969,821 23,752,258 20,477,344