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Balance Sheets - USD ($)
Mar. 31, 2016
Dec. 31, 2015
Current Assets:    
Cash and cash equivalents $ 38,830,110 $ 46,802,560
Prepaid expenses and other current assets 683,365 441,810
Total current assets 39,513,475 47,244,370
Property and equipment, net 491,414 521,378
Prepaid research and development expenses 696,531 696,531
Total assets 40,701,420 48,462,279
Current liabilities:    
Accounts payable 1,622,594 564,235
Accrued bonuses 276,005 1,037,112
Accrued expenses 3,784,712 6,145,631
Total current liabilities 5,683,311 7,746,978
Deferred rent 250,143 243,647
Total liabilities 5,933,454 7,990,625
Stockholders' equity:    
Common stock; $0.001 par value; 100,000,000 shares authorized, 19,280,690 shares issued and outstanding at March 31, 2016; 100,000,000 shares authorized, 19,050,204 shares issued and outstanding at December 31, 2015 19,279 19,049
Additional paid-in capital 129,470,138 127,619,078
Accumulated deficit (94,721,451) (87,166,473)
Total stockholders' equity 34,767,966 40,471,654
Total liabilities and stockholders' equity $ 40,701,420 $ 48,462,279