Selected Quarterly Financial Data (Tables)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information

The Company believes that the following information reflects all normal recurring adjustments necessary for a fair statement of the information for the periods presented.

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2016
Operating expenses	$	11,277,152	$	10,454,130	$	11,678,925	$	11,868,254
Interest and other income	$	490,421	$	444,605	$	378,381	$	225,681
Realized loss from marketable securities	$	(201,827)	$	(142,675)	$	(273,573)	$	(521,786)
Net loss	$	(10,988,558)	$	(10,152,200)	$	(11,574,117)	$	(11,546,687)
Basic and diluted net loss per common share	$	(0.64)	$	(0.59)	$	(0.67)	$	(0.67)
2015
Operating expenses	$	7,203,218	$	7,153,905	$	7,122,226	$	8,176,281
Interest and other income	$	58,265	$	211,234	$	502,684	$	456,647
Realized gain (loss) from marketable securities	$	-	$	-	$	1,609	$	(28,642)
Net loss	$	(7,144,953)	$	(6,942,671)	$	(6,617,933)	$	(7,748,276)
Basic and diluted net loss per common share	$	(0.64)	$	(0.41)	$	(0.38)	$	(0.45)