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Fair Value Measurement (Tables)

9 Months Ended

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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- References

No definition available.

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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

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