Annual report pursuant to Section 13 and 15(d)

Cover
- Document and Entity Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- Significant Accounting Policies (Policies)
Notes Tables
Notes Details

Stock Based Compensation (Tables)

v3.3.1.900

Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of stock-based compensation expense


	Year Ended		Year Ended
	December 31, 2015		December 31, 2014
Research and development	$	67,021	$	201,653
General and administrative		327,727		884,928
Total stock-based compensation	$	394,748	$	1,086,581

Summary of option activity


	Options Outstanding
						Weighted average
				Fair value of		remaining
	Number of	Weighted‑average		options		contractual term
	shares	exercise price		granted		(in years)
Balance, January 1, 2014	381,669	$	7.78
Granted	177,484	$	12.14	$	389,538
Forfeitures	(6,427)	$	8.68
Balance, December 31, 2014	552,726	$	9.17
Granted	523,390	$	6.31	$	1,467,886
Forfeitures	(116,928)	$	8.60
Balance, December 31, 2015	959,188	$	7.68			7.51
Vested or expected to vest at December 31, 2015	959,188	$	7.68			7.51
Exercisable at December 31, 2015	604,167	$	8.51			7.05

Schedule of fair value assumptions for options


	Year Ended December 31,
	2015				2014				2013
Risk-free interest rate	1.64	-	1.97	%	0.85	-	1.97	%	0.85	-	1.90	%
Expected term of options (in years)	5.0	-	6.25		5.0	-	6.25				6.0
Expected stock price volatility			70.0	%			70.0	%			70.0	%
Expected annual dividend yield			0.00	%			0.00	%			0.00	%

Schedule of unrecognized compensation expense


Year ending December 31,
2016	$	273,913
2017		262,426
2018		246,094
2019		118,457
	$	900,890

- 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

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 14.F)
-URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14
-Section F

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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.

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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.

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- Definition

Tabular disclosure of the total compensation cost related to nonvested awards not yet recognized and the weighted-average period over which it is expected to be recognized.

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