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Cash, Cash Equivalents and Short-Term Investments (Tables) | 9 Months Ended
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Sep. 30, 2018
Cash And Cash Equivalents [Abstract] |
Schedule of Cash and Cash Equivalents and Short-Term Investments by Significant Investment Category | The following tables show the Company’s cash and cash equivalents and short-term investments by significant investment category as of September 30, 2018 and December 31, 2017:
|  | September 30, 2018 |
|  | Amortized Cost |  |  | Gross Unrealized Gain (Loss) |  |  | Estimated Fair Value |  |  | Cash and Cash Equivalents |  |  | Short-Term Investments |
Cash |  | $ | 2,215,116 |  |  | $ | — |  |  | $ | 2,215,116 |  |  | $ | 2,215,116 |  |  | $ | — |
Level 1 (1): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  |  | 7,848,998 |  |  |  | — |  |  |  | 7,848,998 |  |  |  | 7,848,998 |  |  |  | — |
U.S. treasury securities |  |  | 989,051 |  |  |  | 89 |  |  |  | 989,140 |  |  |  | — |  |  |  | 989,140 |
Subtotal |  |  | 8,838,049 |  |  |  | 89 |  |  |  | 8,838,138 |  |  |  | 7,848,998 |  |  |  | 989,140 |
Level 2 (2): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  |  | 8,531,479 |  |  |  | — |  |  |  | 8,531,479 |  |  |  | — |  |  |  | 8,531,479 |
Corporate debt obligations |  |  | 5,936,106 |  |  |  | (2,008 | ) |  |  | 5,934,098 |  |  |  | — |  |  |  | 5,934,098 |
Repurchase agreements |  |  | 3,000,542 |  |  |  | — |  |  |  | 3,000,542 |  |  |  | 3,000,542 |  |  |  | — |
Asset-backed securities |  |  | 3,312,145 |  |  |  | (1,626 | ) |  |  | 3,310,519 |  |  |  | — |  |  |  | 3,310,519 |
Subtotal |  |  | 20,780,272 |  |  |  | (3,634 | ) |  |  | 20,776,638 |  |  |  | 3,000,542 |  |  |  | 17,776,096 |
Total |  | $ | 31,833,437 |  |  | $ | (3,545 | ) |  | $ | 31,829,892 |  |  | $ | 13,064,656 |  |  | $ | 18,765,236 |
|  | December 31, 2017 |
|  | Amortized Cost |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |  |  | Cash and Cash Equivalents |  |  | Short-Term Investments |
Cash |  | $ | 3,040,696 |  |  | $ | — |  |  | $ | 3,040,696 |  |  | $ | 3,040,696 |  |  | $ | — |
Level 1 (1): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  |  | 8,234,751 |  |  |  | — |  |  |  | 8,234,751 |  |  |  | 8,234,751 |  |  |  | — |
U.S. treasury securities |  |  | 2,490,799 |  |  |  | (5,540 | ) |  |  | 2,485,259 |  |  |  | — |  |  |  | 2,485,259 |
Subtotal |  |  | 10,725,550 |  |  |  | (5,540 | ) |  |  | 10,720,010 |  |  |  | 8,234,751 |  |  |  | 2,485,259 |
Level 2 (2): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  |  | 9,716,093 |  |  |  | — |  |  |  | 9,716,093 |  |  |  | — |  |  |  | 9,716,093 |
Corporate debt obligations |  |  | 6,829,191 |  |  |  | (9,414 | ) |  |  | 6,819,777 |  |  |  | — |  |  |  | 6,819,777 |
Repurchase agreements |  |  | 3,000,233 |  |  |  | — |  |  |  | 3,000,233 |  |  |  | 3,000,233 |  |  |  | — |
Asset-backed securities |  |  | 3,018,276 |  |  |  | (1,953 | ) |  |  | 3,016,323 |  |  |  | 750,388 |  |  |  | 2,265,935 |
Subtotal |  |  | 22,563,793 |  |  |  | (11,367 | ) |  |  | 22,552,426 |  |  |  | 3,750,621 |  |  |  | 18,801,805 |
Total |  | $ | 36,330,039 |  |  | $ | (16,907 | ) |  | $ | 36,313,132 |  |  | $ | 15,026,068 |  |  | $ | 21,287,064 |
| (1) | Level 1 fair value estimates are based on quoted prices in active markets for identical assets or liabilities.
| (2) | Level 2 fair value estimates are based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
Summary of Short-term Investments with Unrealized Losses | The following table presents the Company’s short-term investments with unrealized losses by investment category and length of time that individual securities have been in a continuous unrealized loss position as of September 30, 2018:
|  | Less Than 12 Months |
Description of Securities |  | Estimated Fair Value |  |  | Unrealized Losses |
September 30, 2018 |  |  |  |  |  |  |  |
Corporate debt obligations |  | $ | 4,482,979 |  |  | $ | (2,091 | )
Asset-backed securities |  |  | 3,310,519 |  |  |  | (1,626 | )
Total |  | $ | 7,793,498 |  |  | $ | (3,717 | )
Schedule of Contractual Maturities of Short-term Investments | Contractual maturities of short-term investments as of September 30, 2018 are as follows:
|  | Estimated Fair Value |
Due within one year |  | $ | 18,765,236 |
Total |  | $ | 18,765,236 |

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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27290-111563 + Details
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