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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (9,511,217) $ (4,288,537)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 79,787 28,352
Stock-based compensation 1,181,978 347,482
Change in assets - (increase) decrease:    
Restricted cash 2,977,024 (2,297,801)
Receivables (43,192) (260,436)
Prepaid expenses and other current assets 143,047 117,663
Other assets (77,881) (29,592)
Change in liabilities - increase (decrease):    
Accounts payable and accrued expenses 609,423 95,792
Accounts payable and accrued expenses, related party 145,945 (123,142)
Accrued interest 185,043 140,122
Deferred revenue (2,864,583) 9,374,999
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (7,174,626) 3,104,902
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of marketable securities (17,987,496) 0
Proceeds from sales and maturities of marketable securities 5,000,000 549
Purchases of property and equipment (124,383) (146,685)
Payments for leasehold improvements (21,530) (23,744)
Other investing activities, net 0 (64,514)
NET CASH USED IN INVESTING ACTIVITIES (13,133,409) (234,394)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from sale of common stock 16,446,218 0
Proceeds from loan payable, net 0 5,200,791
Proceeds from stock awards, warrants, and options 45,461 4,599
NET CASH PROVIDED BY FINANCING ACTIVITIES 16,491,679 5,205,390
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (3,816,356) 8,075,898
Cash and cash equivalents balance at beginning of period 8,034,765 1,729,537
Cash and cash equivalents balance at end of period 4,218,409 9,805,435
SUPPLEMENTAL DISCLOSURES:    
Interest paid in cash 0 0
Income taxes paid in cash $ 0 $ 0