INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Schedule of Deferred Tax Assets and Liabilities

	2017			2016
Deferred tax assets (liabilities):
Net operating loss carryforwards	$	83,655,879		$	95,329,928
Research and development credit		10,490,793			7,326,715
Noncash compensation		4,933,807			12,915,672
Other		632,274			599,514
Deferred tax asset, excluding valuation allowance		99,712,753			116,171,829
Less valuation allowance		(99,712,753	)		(116,171,829	)
Net deferred tax assets	$	--		$	--

Schedule of Effective Income Tax Rate Reconciliation

	2017			2016			2015
Loss before income taxes, as reported in the consolidated statements of operations	$	(118,476,012	)	$	(78,252,894	)	$	(62,948,646	)
Computed “expected” tax benefit	$	(40,281,844	)	$	(26,605,984	)	$	(21,402,540	)
Increase (decrease) in income taxes resulting from:
Expected benefit from state and local taxes		(1,105,708	)		(835,072	)		(672,306	)
Research and development credits		(3,697,258	)		(2,364,417	)		(1,603,364	)
Other		1,563,114			(7,506	)		566,310
Impact of change in state tax rates on deferred taxes		--			--			5,836,819
Stock awards		8,213,188
Effects of federal tax reform rate changes		51,767,584
Change in the balance of the valuation allowance for deferred tax assets		(16,459,076)			29,812,979			17,275,081
	$	--		$	--		$	--