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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2014

Stock-Based Compensation

Summary of stock option compensation expense recognized in the consolidated statements of operations

		December 31,			December 31,
		2014			2013
Research and development		$	526,331		$	—
General and administrative		1,080,616			2,225,989
Total stock based compensation expense		$	1,606,947		$	2,225,989

Schedule of weighted-average assumptions

		2014		2013
Risk-free interest rate		1.82% - 2.03%		0.35%
Expected life in years		6.0		5.0
Expected volatility		70% - 71%		141%
Expected dividend yield		—		—

Schedule of stock options outstanding that have vested or are expected to vest

Stock options outstanding that have vested or are expected to vest as of December 31, 2014 were as follows:

		Shares of Common Stock		Weighted- Average Per Share Exercise Price			Weighted- Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value
Vested		1,072,111		$	9.49		7.2		$	143,013
Expected to vest		2,576,136		3.75			9.5		283,921
Total		3,648,247		$	5.44		8.8		$	426,934

Summary of the Company's employee stock option activity

		Outstanding							Exercisable
		Number of Shares		Weighted- Average Per Share Exercise Price			Weighted- Average Remaining Contractual life (in years)		Number of Shares		Weighted- Average Per Share Exercise Price			Weighted- Average Remaining Contractual life (in years)
Outstanding at January 1, 2013		79,436		$	46.00		3.0		57,310		$	48.00		2.6
Granted		310,000		3.00
Exercised		—		—
Forfeited or expired		—		—
Outstanding at December 31, 2013		389,436		$	11.77		3.9		367,110		$	11.10		3.9
Granted		3,287,181		3.71
Exercised		—		—
Forfeited or expired		(28,370	)	33.99
Outstanding at December 31, 2014		3,648,247		$	5.44		8.8		1,072,111		$	9.49		7.2

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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.

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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.

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Tabular disclosure of the number of fully vested share options (or share units) and share options expected to vest at the date of the latest statement of financial position, weighted-average exercise price (or conversion ratio), aggregate intrinsic value (except for nonpublic entities), and weighted-average remaining contractual term for both options (or share units) currently outstanding and options (or share units) exercisable (or convertible).

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