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Condensed Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Operating costs and expenses        
Research and development $ 2,880,574 $ 47,977 $ 4,763,422 $ 79,555
Patent costs 68,616 50,148 100,980 112,423
General and administrative 1,206,943 2,001,706 2,441,961 3,304,152
Total operating costs and expenses 4,156,133 2,099,831 7,306,363 3,496,130
Operating loss (4,156,133) (2,099,831) (7,306,363) (3,496,130)
Other income        
Interest income 16,661 2,101 37,227 4,305
Other income 1,214 7,091
Total other income 16,661 2,101 38,441 11,396
Net loss (4,139,472) (2,097,730) (7,267,922) (3,484,734)
Cumulative preferred stock dividends (178,286) (327,569)
Accretion of discount on Series C preferred stock (31,465) (63,283)
Net loss applicable to common shareholders $ (4,139,472) $ (2,307,481) $ (7,267,922) $ (3,875,586)
Net loss per common share — basic and diluted $ (0.48) $ (4.18) $ (0.85) $ (7.62)
Weighted-average common shares outstanding — basic and diluted 8,584,661 551,912 8,583,259 508,645