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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Taxes

Schedule of Gross Deferred Tax Asset and Related Valuation Allowance

		2016			2015
Deferred tax assets:
Net operating loss carryforward		$	34,451,814		$	24,745,536
Capitalized start-up costs			2,708,479			2,986,272
Patent amortization			216,203			238,378
Research and orphan drug credits			14,988,522			10,110,590
Deferred rent			123,744			96,107
Deferred compensation			2,107,964			1,206,920
Other			70,511			52,985
Total gross deferred tax assets			54,667,237			39,436,788
Valuation allowance			(54,667,237)			(39,436,788)
Deferred tax assets			—			—
Deferred tax liabilities:
Depreciation			—			—
Total deferred tax liabilities			—			—
Net deferred tax assets		$	—		$	—

Schedule of Reconciliations Between Statutory Federal Income Tax Rate and Effective Income Tax Rate of Income Tax Expense

		2016		2015		2014
U.S. Federal statutory tax rate		34.0	%	34.0	%	34.0	%
State taxes		4.6		3.7		4.6
Research credit		1.0		5.6		7.4
Orphan drug credit		9.0		11.5		8.7
Stock-based compensation		(0.7)		(1.8)		(1.3)
Other		—		—		2.4
Change in valuation allowance		(47.9)		(53.0)		(55.8)
Provision for income taxes		—	%	—	%	—	%

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319

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