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Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net loss $ (2,464,985) $ (2,951,649)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 91,949 22,803
Stock-based compensation 183,897 426,809
Change in assets and liabilities:    
Royalty receivables (592,254) (354,465)
Prepaid expenses and other current assets 44,002 47,526
Deferred revenue 10,000 (8,750)
Accounts payable and accrued expenses (130,379) 120,272
Net cash used in operating activities (2,857,770) (2,697,454)
Cash flows from investing activities:    
Purchases of fixed assets (312,943) (109,817)
Change in investments 1,493,888 (3,003,915)
Net cash provided by (used in) investing activities $ 1,180,945 (3,113,732)
Cash flows from financing activities:    
Net proceeds from sale of common stock 3,278,250
Net proceeds from exercise of options and warrants $ 535,123 304,788
Net cash provided by (used in) financing activities 535,123 3,583,038
Net decrease in cash and cash equivalents (1,141,702) (2,228,148)
Cash and cash equivalents at beginning of year 7,569,537 5,866,123
Cash and cash equivalents at end of period $ 6,427,835 $ 3,637,975