| Quarterly Financial Information [Text Block] |
21. Selected Quarterly Data (unaudited)
|
|
|
Quarter Ended
|
|
|
|
|
March 31,
2014
|
|
|
June 30,
2014
|
|
|
September 30,
2014
|
|
|
December 31,
2014
|
|
|
Revenue
|
|
$
|
798,788
|
|
|
$
|
473,163
|
|
|
$
|
398,615
|
|
|
$
|
303,453
|
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development
|
|
|
8,472,195
|
|
|
|
10,569,134
|
|
|
|
12,998,409
|
|
|
|
13,459,178
|
|
|
General and administrative
|
|
|
1,933,476
|
|
|
|
1,865,822
|
|
|
|
2,320,036
|
|
|
|
2,480,025
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating loss
|
|
|
(9,606,883
|
)
|
|
|
(11,961,793
|
)
|
|
|
(14,919,830
|
)
|
|
|
(15,635,750
|
)
|
|
Other income (expense), net
|
|
|
(394,097
|
)
|
|
|
(21,738
|
)
|
|
|
(181,187
|
)
|
|
|
(584,660
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
|
(10,000,980
|
)
|
|
|
(11,983,531
|
)
|
|
|
(15,101,017
|
)
|
|
|
(16,220,410
|
)
|
|
Accretion of redeemable convertible preferred stock
|
|
|
(863,226
|
)
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
Less: Preferred stock dividend due to exchanges of preferred shares
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable to common stockholders
|
|
$
|
(10,864,206
|
)
|
|
$
|
(11,983,531
|
)
|
|
$
|
(15,101,017
|
)
|
|
$
|
(16,220,410
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable to common stockholders per share, basic and diluted
|
|
$
|
(1.05
|
)
|
|
$
|
(0.61
|
)
|
|
$
|
(0.77
|
)
|
|
$
|
(0.83
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares outstanding, basic and diluted
|
|
|
10,376,561
|
|
|
|
19,655,187
|
|
|
|
19,655,561
|
|
|
|
19,656,209
|
|
|
|
|
Quarter Ended
|
|
|
|
|
March 31,
2013
|
|
|
June 30,
2013
|
|
|
September 30,
2013
|
|
|
December 31,
2013
|
|
|
Revenue
|
|
$
|
1,461,687
|
|
|
$
|
1,263,008
|
|
|
$
|
981,247
|
|
|
$
|
715,747
|
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development
|
|
|
5,189,461
|
|
|
|
6,102,320
|
|
|
|
5,630,219
|
|
|
|
7,069,151
|
|
|
General and administrative
|
|
|
1,078,357
|
|
|
|
939,725
|
|
|
|
1,024,167
|
|
|
|
1,620,068
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating loss
|
|
|
(4,806,131
|
)
|
|
|
(5,779,037
|
)
|
|
|
(5,673,139
|
)
|
|
|
(7,973,472
|
)
|
|
Other income (expense), net
|
|
|
356,929
|
|
|
|
196
|
|
|
|
541
|
|
|
|
(47,450
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
|
(4,449,202
|
)
|
|
|
(5,778,841
|
)
|
|
|
(5,672,598
|
)
|
|
|
(8,020,922
|
)
|
|
Accretion of redeemable convertible preferred stock
|
|
|
(64,940
|
)
|
|
|
(10,446
|
)
|
|
|
5,325,406
|
|
|
|
(477,029
|
)
|
|
Less: Preferred stock dividend due to exchanges of preferred shares
|
|
|
—
|
|
|
|
—
|
|
|
|
(14,726,088
|
)
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable to common stockholders
|
|
$
|
(4,514,142
|
)
|
|
$
|
(5,789,287
|
)
|
|
$
|
(15,073,280
|
)
|
|
$
|
(8,497,951
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable to common stockholders per share, basic and diluted
|
|
$
|
(19.91
|
)
|
|
$
|
(25.53
|
)
|
|
$
|
(65.23
|
)
|
|
$
|
(36.19
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares outstanding, basic and diluted
|
|
|
226,757
|
|
|
|
226,757
|
|
|
|
231,084
|
|
|
|
234,789
|
|
|