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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Taxes

Schedule of Gross Deferred Tax Asset and Related Valuation Allowance

		2017			2016
Deferred tax assets:
Net operating loss carryforward		$	30,813,509		$	34,451,814
Capitalized start-up costs			1,695,688			2,708,479
Patent amortization			135,358			216,203
Research and orphan drug credits			21,293,509			14,988,522
Deferred rent			71,938			123,744
Deferred compensation			2,274,885			2,107,964
Other			69,906			70,511
Total gross deferred tax assets			56,354,793			54,667,237
Valuation allowance			(56,354,793)			(54,667,237)
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

		2017		2016		2015
U.S. Federal statutory tax rate		34.0	%	34.0	%	34.0	%
State taxes		4.4		4.6		3.7
Research credit		1.3		1.0		5.6
Orphan drug credit		11.5		9.0		11.5
Other		0.3		—		—
Stock-based compensation		(0.7)		(0.7)		(1.8)
Change in valuation allowance		(5.1)		(47.9)		(53.0)
Effective change due to corporate tax rate reduction		(45.7)		—		—
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=84230637&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=84230637&loc=d3e32687-109319

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