FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value

The following table presents information about our assets and liabilities measured at fair value at June 30, 2018 and December 31, 2017, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value:

	Asset and Liabilities at Fair Value
	As of June 30, 2018
	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Certificate of deposit	$	-	$	3,000,000	$	-	$	3,000,000
Short-term investment securities:
Money market funds		5,272,629		-		-		5,272,629
Corporate bonds		-		27,610,232		-		27,610,232
Commercial paper		-		2,443,160		-		2,443,160
U.S. treasury securities		-		5,985,640		-		5,985,640
U.S. government agency bonds		-		8,769,352		-		8,769,352
Total cash equivalents and short-term investment securities	$	5,272,629	$	47,808,384	$	-	$	53,081,013
Liabilities
Warrant liability	$	-	$	-	$	167,779	$	167,779

	Asset and Liabilities at Fair Value
	As of December 31, 2017
	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Certificate of deposit	$	-	$	3,000,000	$	-	$	3,000,000
Short-term investment securities:
Certificates of deposit		-		6,000,000		-		6,000,000
Money market funds		41,526,540		-		-		41,526,540
Corporate bonds				9,450,933		-		9,450,933
U.S. government agency bonds		-		1,998,040		-		1,998,040
Total cash equivalents and short-term investment securities	$	41,526,540	$	20,448,973	$	-	$	61,975,513
Liabilities
Warrant liability	$	-	$	-	$	216,490	$	216,490