Schedule of significant components of the Company's deferred tax assets |
|
|
December 31,
|
|
|
|
2014
|
|
2013
|
|
Deferred tax assets:
|
|
|
|
|
|
|
|
Net operating losse carryforwards
|
|
$
|
9,245,934
|
|
$
|
5,159,176
|
|
Research and development credits
|
|
|
5,101,755
|
|
|
2,801,924
|
|
Research and development expenses capitalized for tax purposes
|
|
|
43,038,057
|
|
|
26,936,217
|
|
Deferred rent
|
|
|
129,998
|
|
|
140,873
|
|
Depreciation
|
|
|
476,799
|
|
|
652,104
|
|
Other temporary differences
|
|
|
458,413
|
|
|
628,296
|
|
|
|
|
|
|
|
|
|
Total deferred tax assets
|
|
|
58,450,956
|
|
|
36,318,590
|
|
Deferred tax liabilities:
|
|
|
|
|
|
|
|
Prepaid expenses
|
|
|
(90,385
|
)
|
|
(80,311
|
)
|
|
|
|
|
|
|
|
|
Total deferred tax liabilities
|
|
|
(90,385
|
)
|
|
(80,311
|
)
|
|
|
|
|
|
|
|
|
Net deferred tax assets
|
|
|
58,360,571
|
|
|
36,238,279
|
|
Less valuation allowance
|
|
|
(58,360,571
|
)
|
|
(36,238,279
|
)
|
|
|
|
|
|
|
|
|
Net deferred tax asset
|
|
$
|
—
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|