Stock Based Compensation (Tables)

9 Months Ended

Sep. 30, 2017

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Summarizes Information About Stock Options

The following table summarizes information about stock options for the periods presented below:

				Weighted
	Number			Average		Aggregate
	Stock			Exercise		Intrinsic
	Options			Price		Value
Outstanding at December 31, 2016		1,633,313		$	5.14
Granted		365,000		$	5.36
Exercised		—		$	—
Forfeited		(76,389	)	$	5.00
Outstanding at September 30, 2017		1,921,924		$	5.19	$	805,127
Vested and exercisable at September 30, 2017		807,972		$	5.13	$	331,839
Unvested at September 30, 2017		1,113,952		$	5.23	$	473,288

Schedule of Stock-Based Compensation Awards Granted

Stock-based compensation expense for the three and nine months ended September 30, 2017 and 2016 was recognized as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
General and administrative expenses	$	241,401	$	292,085	$	707,588	$	447,232
Research and development expenses		30,900		30,900		91,693		52,396
	$	272,301	$	322,985	$	799,281	$	499,628

Employees [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Fair Values of Stock Options Granted Using Black-scholes Valuation Model Assumptions

The weighted average fair value of stock options granted to employees and members of the board of directors was $1.57 per share during the nine months ended September 30, 2017 and $1.32 per share during the nine months ended September 30, 2016, calculated using the following Black-Scholes valuation model assumptions:

	Nine Months Ended September 30,
	2017			2016
Risk free interest rate		1.53	%		1.40	%
Expected term of stock options (in years)		5.8			5.8
Expected stock price volatility		50	%		50	%
Expected dividend yield		0	%		0	%

Non-employees [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Fair Values of Stock Options Granted Using Black-scholes Valuation Model Assumptions

The weighted average fair value of stock options granted to non-employees was $4.32 per share at September 30, 2017 and $11.45 at September 30, 2016, with such fair values calculated using the following weighted-average Black-Scholes valuation model assumptions:

	Nine Months Ended September 30,
	2017			2016
Risk free interest rate		2.19	%		1.54	%
Expected term of stock options (in years)		9.0			9.6
Expected stock price volatility		60	%		60	%
Expected dividend yield		0	%		0	%