CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) |
12 Months Ended | |
|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
|
| Operating expenses | ||
| Research and development | $ 939,040 | $ 576,093 |
| General and administrative | 3,531,540 | 3,741,017 |
| Total operating expenses | 4,470,580 | 4,317,110 |
| Operating loss | (4,470,580) | (4,317,110) |
| Other expense (income) | ||
| Change in fair value of warrant liability | (1,342,651) | (481,610) |
| Net Loss before income taxes | (3,176,493) | (4,839,445) |
| Provision for income taxes | 1,600 | 1,716 |
| Net loss | (3,178,093) | (4,841,161) |
| Less: Preferred deemed dividend | 325,000 | |
| Net loss applicable to common shareholders | $ (3,503,093) | $ (4,841,161) |
| Basic and diluted loss per common share (in dollars per share) | $ (0.17) | $ (0.29) |
| Shares used in computing basic and diluted loss per share (in shares) | 18,947,375 | 16,938,318 |
| Series A Preferred stock | ||
| Other expense (income) | ||
| Change in fair value of conversion rights | $ 986,000 | |
| Series B Preferred Stock | ||
| Other expense (income) | ||
| Change in fair value of conversion rights | $ 48,564 | $ 17,945 |