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Warrants | 12 Months Ended
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Dec. 31, 2016
Warrants [Abstract] |
Warrants | 11. Warrants ﻿ On January 4, 2016, the Company entered into an Asset Purchase Agreement with Novolytics Limited (the “Purchase Agreement”), to purchase certain preclinical materials and intangible assets, including patent rights, from Novolytics, an unrelated third party. In consideration for the assets acquired, the Company paid cash consideration of approximately $205,000 and issued warrants to purchase an aggregate of 170,000 shares of the Company’s common stock. The warrants have an exercise price of $12.00 per share and contain certain registration rights. The fair value of the warrants issued was $204,000, based on a Monte Carlo valuation model and are classified as equity in the consolidated balance sheet as of December 31, 2016. The Company expensed the total value provided for the acquired assets of $409,000 as in-process research and development as of the acquisition date given there was no alternative future use of the acquired assets due to the early stage nature of the technology and preclinical materials. ﻿ On April 8, 2016, the Company modified 315,244 warrants held by the Holders, in accordance with the terms of the CSIA (see Note 10). On June 3, 2016, the Company issued warrants exercisable for an aggregate of 1,063,830 shares of common stock at an exercise price of $2.25 per share in connection with the closing of a registered public offering of common stock and warrants (see Note 15). On November 22, 2016, the Company issued warrants exercisable for an aggregate of 5,335,000 shares of common stock at an exercise price of $0.75 per share in connection with the closing of a registered public offering of common stock and warrants (see Note 15). The following table provides a summary of warrants outstanding, issued or expired for the year ended December 31, 2016. Also included are the average exercise price per share and the aggregate proceeds to the Company if exercised as of December 31, 2016: ﻿ ﻿ ﻿
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﻿ |  |  | $0.75 |  |  | $2.25 |  | $4.05 - $8.25 |  | $10.75 - $23.00 |  | Totals
﻿ |  |  |  |  | Weighted |  |  |  |  | Weighted |  |  |  |  | Weighted |  |  |  |  | Weighted |  |  |  |  | Weighted
﻿ |  |  |  |  | Average |  |  |  |  | Average |  |  |  |  | Average |  |  |  |  | Average |  |  |  |  | Average
﻿ |  |  |  |  | Exercise |  |  |  |  | Exercise |  |  |  |  | Exercise |  |  |  |  | Exercise |  |  |  |  | Exercise
﻿ |  |  | Shares |  | Price |  |  | Shares |  | Price |  | Shares |  | Price |  | Shares |  | Price |  | Shares |  | Price
﻿Balance, December 31, 2015 | - |  | - |  | $ | - | - |  | - |  | $ | - |  |  | 694,062 |  | $ | 5.82 |  |  | 515,587 |  | $ | 11.39 |  |  | 1,209,649 |  | $ | 8.19
﻿Issuances |  |  | 5,335,000 |  |  | 0.75 |  |  | 1,063,830 |  |  | 2.25 |  |  | - |  |  | - |  |  | 170,000 |  |  | 12.00 |  |  | 6,568,830 |  |  | 1.28
﻿Expiration |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (27,103) |  |  | 23.00 |  |  | (27,103) |  |  | 23.00
﻿Balance, December 31, 2016 |  |  | 5,335,000 |  | $ | 0.75 |  |  | 1,063,830 |  | $ | 2.25 |  |  | 694,062 |  | $ | 5.82 |  |  | 658,484 |  | $ | 11.07 |  |  | 7,751,376 |  | $ | 2.29
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﻿Aggregate proceeds if exercised |  | $ | 4,001,250 |  |  |  |  | $ | 2,393,618 |  |  |  |  | $ | 4,039,441 |  |  |  |  | $ | 7,289,418 |  |  |  |  | $ | 17,723,727 |  |  |
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