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Fair Value Measurement (Tables) | 9 Months Ended
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Sep. 30, 2016
Fair Value Disclosures [Abstract] |
Financial Assets and Liabilities Measured at Fair Value | The following table presents financial liabilities measured at fair value as of September 30, 2016:
|  | Fair Value Measurement at Report Date Using |  |  |  |  |  |  |
|  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Unobservable Inputs (Level 3) |  |  | As of September 30, 2016 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Note payable |  |  | — |  |  | $ | 2,000,000 |  |  | $ | — |  |  | $ | 2,000,000 |
Warrant liabilities |  |  | — |  |  |  | 651,902 |  |  |  | — |  |  |  | 651,902 |
Total financial liabilities |  | $ | — |  |  | $ | 2,651,902 |  |  | $ | — |  |  | $ | 2,651,902 |
The following table presents financial assets and liabilities measured at fair value as of December 31, 2015:
|  | Fair Value Measurement at Report Date Using |  |  |  |  |  |  |
|  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Unobservable Inputs (Level 3) |  |  | As of December 31, 2015 |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 2,544,475 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,544,475 |
U.S. Treasury debt obligations |  |  | 11,158,400 |  |  |  | — |  |  |  | — |  |  |  | 11,158,400 |
Total financial assets |  | $ | 13,702,875 |  |  | $ | — |  |  | $ | — |  |  | $ | 13,702,875 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loan payable net of discounts |  | $ | — |  |  | $ | — |  |  | $ | 10,334,029 |  |  | $ | 10,334,029 |
Warrant liabilities |  |  | — |  |  |  | — |  |  |  | 770,964 |  |  |  | 770,964 |
Total financial liabilities |  | $ | — |  |  | $ | — |  |  | $ | 11,104,993 |  |  | $ | 11,104,993 |

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
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