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Stock-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Stock-Based Compensation Expense | Our stock-based compensation expense for the three months ended March 31 was as follows:
|  | Three months ended |
|  | March 31, |
|  | 2016 |  |  | 2015 |
Research and development expense |  | $ | 313,378 |  |  | $ | 583,669 |
General and administrative expense |  |  | 1,539,048 |  |  |  | 725,225 |
Total stock-based compensation |  | $ | 1,852,426 |  |  | $ | 1,308,894 |
Effect on basic and diluted net loss per share |  | $ | (0.19 | ) |  | $ | (0.23 | )
Stock Option Activity | A summary of our stock option activity for the three months ended March 31, 2016 is as follows:
|  | Number of options |  |  | Weighted-average exercise price ($) per share |
Outstanding options at December 31, 2015 |  |  | 173,261 |  |  |  | 34.80 |
Granted |  |  | 10,000 |  |  |  | 3.60 |
Exercised |  |  | — |  |  |  | — |
Cancelled |  |  | (27,430 | ) |  |  | 34.20 |
Outstanding options at March 31, 2016 |  |  | 155,831 |  |  |  | 32.76 |
Summary of Changes in Unvested Options | The following is a summary of changes in unvested options:
Unvested Options |  | Number of Options |  |  | Weighted Average Grant Date Fair Value |
Unvested options at December 31, 2015 |  |  | 140,000 |  |  | $ | 8.28 |
Granted(1) |  |  | 10,000 |  |  | $ | 3.60 |
Vested |  |  | — |  |  | $ | 145.68 |
Cancelled |  |  | (25,417 | ) |  | $ | 8.52 |
Unvested options at March 31, 2016 |  |  | 124,583 |  |  | $ | 7.92 |
(1) | The 10,000 options granted are performance based and vest on achievement of predefined milestones.
Summary of Unvested Restricted Stock Unit Activity | A summary of changes in our unvested restricted stock units for the three months ended March 31, 2016 is as follows:
|  | Number of RSUs |  |  | Weighted Average Grant Date Fair Value ($) |
Outstanding at December 31, 2015 |  |  | 687,613 |  |  |  | 14.52 |
Granted(1) |  |  | 277,210 |  |  |  | 3.84 |
Vested and exercised |  |  | (217,919 | ) |  |  | 14.52 |
Cancelled |  |  | (34,875 | ) |  |  | 13.68 |
Outstanding at March 31, 2016 |  |  | 712,029 |  |  |  | 10.44 |
(1) | Of the 277,210 restricted stock units issued, 73,171 restricted stock units vest and convert into shares of our common stock after one year from the date of grant. 204,039 restricted stock units are performance based and vest on achievement of predefined milestones.

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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 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 14.F) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 -Section F + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested shares. + 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 (c)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + 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 (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + 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 (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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