Annual report pursuant to Section 13 and 15(d)

Income Taxes - Deferred Taxes (Details)

v3.3.1.900
Income Taxes - Deferred Taxes (Details) - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Income Taxes    
Net loss before income taxes $ 50,528,240 $ 49,700,875
Deferred tax assets:    
Net operating loss carryforwards 11,649,441 9,245,934
Research and development credits 6,824,974 5,101,755
Research and development expenses capitalized for tax purposes 61,073,917 43,038,057
Deferred rent 103,454 129,998
Depreciation 552,235 476,799
Other temporary differences 653,078 458,413
Total deferred tax assets 80,857,099 58,450,956
Deferred tax liabilities:    
Prepaid expenses (81,706) (90,385)
Total deferred tax liabilities (81,706) (90,385)
Net deferred tax assets 80,775,393 58,360,571
Less valuation allowance (80,775,393) (58,360,571)
Increase in valuation allowance $ 22,400,000 $ 22,100,000