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STOCKHOLDERS' EQUITY (Tables)
9 Months Ended
Sep. 30, 2016
Stockholders' Equity Note [Abstract]  
Schedule of assumptions used in the Black-Scholes Model of stock options

The assumptions used in the Black-Scholes Model for options granted during the nine months ended September 30, 2016 and 2015 are set forth in the table below.

 

    Nine Months Ended September 30,  
    2016     2015  
Risk-free interest rate     1.13-1.70 %     1.47-1.54 %
Volatility     70.26-71.22 %     58.77-62.94 %
Term (in years)     6.00-6.25       5.27-6.25  
Dividend yield     0.00 %     0.00 %
Schedule of plan activity

A summary of activity under the 2009 and 2012 Plans and related information follows:

 

    Number of
Shares
Underlying
Stock
Options
    Weighted
Average
Exercise
Price
    Weighted 
Average 
Remaining 
Contractual
Life in Years
    Aggregate
Intrinsic
Value
 
Balance at December 31, 2015     20,725,325     $ 3.28       6.5     $ 146,864,184  
   Granted     557,500     $ 7.37                  
   Exercised     (544,277 )   $ 2.27           $ 3,100,742  
   Expired/Forfeited     (32,625 )   $ 6.22                  
Balance at September 30, 2016     20,705,923     $ 3.42       5.8     $ 77,940,710  
Vested and Exercisable at September 30, 2016     17,336,805     $ 2.69       5.2     $ 75,393,944  
Unvested at September 30, 2016     3,369,118     $ 7.17       8.8     $ 2,546,766