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Stock-based Compensation (Tables)

3 Months Ended

Mar. 31, 2017

Share-based Arrangements with Employees and Nonemployees [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The Company recorded stock-based compensation expense in the following expense categories of its unaudited interim condensed consolidated statements of operations for the periods indicated:

	Three Months Ended March 31,
	2017				2016
Research and development	$	43,322			$	242,277
General and administrative	323,061				151,194
Total stock-based compensation expense	$	366,383			$	393,471

Schedule of Share-based Compensation, Stock Options, Activity

The following table summarizes the activity related to all stock option grants to employees and non-employees for the three months ended March 31, 2017:

	Number of Options			Weighted average exercise price per share				Weighted average remaining contractual life (in years)
Balance at January 1, 2017	2,207,409			$	8.09
Granted	98,184			2.33
Expired	(1,461	)		15.00
Outstanding at March 31, 2017	2,304,132			$	7.84			7.6
Exercisable at March 31, 2017	1,548,216			$	9.04			6.9

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

Options granted were valued using the Black-Scholes model and assumptions used to value the options granted during the first three months of 2017 were as follows:

Expected term (in years)	5.77
Risk-free interest rate	2.1	%
Expected volatility	125.2	%
Dividend yield	—	%

X

- 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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
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-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 14.F)
-URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809

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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
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-Section 50
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- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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