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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Contract revenue $ 804,071 $ 1,005,694
Operating expenses:    
Research and development 725,797 1,029,131
General and administrative 3,228,590 1,193,298
Depreciation 33,007 37,701
Total operating expenses 3,987,394 2,260,130
Loss from operations (3,183,323) (1,254,436)
Other (expense) income:    
Interest income (expense), net 74,977 (1,050)
Change in fair value of derivative instruments (90,191) 39,898
Other (expense) income (375) 4,119
Total other (expense) income (15,589) 42,967
Loss before income taxes (3,198,912) (1,211,469)
Income tax benefit (provision) 1,001,315 (15,437)
Net loss $ (2,197,597) $ (1,226,906)
Basic and diluted net loss per share $ (0.03) $ (0.02)
Weighted-average shares used in calculation of basic and diluted net loss per share 68,737,093 64,404,396