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Stockholders Equity (Tables) (Imported)

3 Months Ended

Mar. 31, 2016

Stock-Based Compensation Expense

Stock-based compensation expense was classified on the statement of operations as follows for the three months ended March 31, 2016 and 2015:

		Three Months Ended March 31,
		2016			2015
Research and development expense		$	253,282		$	202,907
General and administrative expense			474,265			384,607
Total stock-based compensation expense		$	727,547		$	587,514

2003 Stock Incentive Plan

Company's Stock Option Activity

A summary of the Company’s stock option activity under the 2003 Plan for the three months ended March 31, 2016 is as follows:

							WEIGHTED-AVERAGE
				WEIGHTED-			REMAINING		AGGREGATE
		OUTSTANDING		AVERAGE			CONTRACTUAL TERM		INTRINSIC VALUE
		OPTIONS		EXERCISE PRICE			(YEARS)		(IN THOUSANDS)
Outstanding as of December 31, 2015		758,187		$	1.27		4.2
Options exercised		(23,986)			1.50
Options forfeited		—			—
Outstanding as of March 31, 2016		734,201			1.26		4.0		$	3,451
Vested or expected to vest as of March 31, 2016		734,066			1.26		4.0		$	3,450
Exercisable as of March 31, 2016		729,317			1.25		3.9		$	3,435

2013 Equity Incentive Plan

Company's Stock Option Activity

A summary of the Company’s stock option activity under the 2013 Plan for the three months ended March 31, 2016 is as follows:

							WEIGHTED-AVERAGE
ccc				WEIGHTED-			REMAINING		AGGREGATE
		OUTSTANDING		AVERAGE			CONTRACTUAL TERM		INTRINSIC VALUE
		OPTIONS		EXERCISE PRICE			(YEARS)		(IN THOUSANDS)
Outstanding as of December 31, 2015		1,470,338		$	8.26		8.5
Options granted		528,800			5.11
Options exercised		—			—
Options forfeited		—			—
Outstanding as of March 31, 2016		1,999,138			7.43		8.6		$	449
Vested or expected to vest as of March 31, 2016		1,988,448			7.43		8.6		$	444
Exercisable as of March 31, 2016		615,819			8.32		8.1		$	—

Weighted-Average Fair Value of Options Granted

		Three Months Ended		Three Months Ended
		March 31, 2016		March 31, 2015
Expected term (years)		6.25		6.25
Expected volatility		68.36%		82.08%
Risk-free interest rate		1.74%		1.68%
Expected dividend yield		0%		0%

Summary of RSU Activity

The following is a summary of RSU activity under the 2013 Plan for the three months ended March 31, 2016:

					WEIGHTED-AVERAGE
			NUMBER		GRANT DATE
		OF SHARES				FAIR VALUE
Unvested at December 31, 2015			4,833		$	7.62
Granted			14,500			4.61
Forfeited			—			—
Vested			—			—
Unvested at March 31, 2016			19,333			5.36

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- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14
-Section F

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- Definition

Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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+ References

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