Consolidated Statements of Cash Flows - USD ($)
|
9 Months Ended |
12 Months Ended |
Sep. 30, 2015 |
Sep. 30, 2014 |
Dec. 31, 2014 |
Dec. 31, 2013 |
| Cash Flows from Operating Activities |
|
|
|
|
| Net loss |
$ (14,357,325)
|
$ (8,508,592)
|
$ (12,243,211)
|
$ (6,609,864)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
|
| Depreciation |
84,373
|
41,850
|
66,895
|
6,348
|
| Amortization of debt issuance costs |
75,818
|
13,848
|
37,556
|
28,229
|
| Amortization of bond premium |
$ 102,618
|
137,897
|
173,204
|
50,781
|
| Re-measurement of fair value of stock warrants liability |
|
7,263
|
7,263
|
30,440
|
| Stock based compensation |
$ 1,046,086
|
722,358
|
1,066,443
|
571,924
|
| Increase (decrease) in cash arising from changes in assets and liabilities: |
|
|
|
|
| Related party receivable |
(9,375)
|
(18,446)
|
(23,696)
|
(15,375)
|
| Prepaid expenses and other current assets |
(157,440)
|
318,275
|
203,411
|
(1,008,202)
|
| Restricted cash |
|
|
(99,877)
|
$ 24,962
|
| Deposits |
(50,000)
|
(10,478)
|
(10,478)
|
|
| Accounts payable |
(385,161)
|
28,561
|
715,509
|
$ 146,446
|
| Accrued expenses and other payables |
1,260,355
|
$ (56,888)
|
302,918
|
373,842
|
| Other long term liabilities |
$ 12,228
|
|
|
|
| Accrued interest |
|
$ (25,364)
|
(25,364)
|
11,601
|
| Net Cash Used in Operating Activities |
$ (12,377,823)
|
(7,349,716)
|
(9,829,427)
|
$ (6,388,868)
|
| Cash Flows from Investing Activities |
|
|
|
|
| Proceeds from maturities of short term investments |
14,943,468
|
13,827,773
|
18,623,826
|
|
| Purchases of short term investments |
(11,090,091)
|
(8,783,623)
|
(12,198,847)
|
$ (17,347,946)
|
| Purchases of property and equipment |
(106,838)
|
(452,444)
|
(458,676)
|
(49,319)
|
| Net Cash Provided by Investing Activities |
3,746,539
|
$ 4,591,706
|
$ 5,966,303
|
(17,397,265)
|
| Cash Flows from Financing Activities |
|
|
|
|
| Initial public offering price |
|
|
|
$ 25,110,000
|
| Proceeds from long term debt, net |
|
|
$ 2,972,500
|
|
| Payments on notes payable |
|
|
|
$ (925,000)
|
| Issuance of convertible notes payable, net of issuance costs |
|
|
|
(197,099)
|
| Proceeds from March 2015 public offering, net of underwriting discounts |
$ 11,400,870
|
|
|
540
|
| Proceeds from the exercise of stock options |
|
$ 37,719
|
$ 37,936
|
54,042
|
| Proceeds from issuance of long term debt |
$ 2,242,575
|
$ 1,435,283
|
|
200,000
|
| Payments on long term debt |
(145,161)
|
|
|
|
| Stock issuance costs |
(302,461)
|
|
|
(944,478)
|
| Net Cash Provided by Financing Activities |
13,195,823
|
$ 1,473,002
|
$ 3,010,436
|
28,348,095
|
| Effect of exchange rate changes on cash and cash equivalents |
(67,905)
|
|
|
|
| Net (Decrease) Increase in Cash and Cash Equivalents |
4,496,634
|
$ (1,285,008)
|
(852,688)
|
4,561,962
|
| Cash and Cash Equivalents - Beginning of Period |
3,714,304
|
4,566,992
|
4,566,992
|
5,030
|
| Cash and Cash Equivalents - End of Period |
8,210,938
|
3,281,984
|
3,714,304
|
4,566,992
|
| Supplemental Disclosure for Cash Flow Information |
|
|
|
|
| Interest paid |
$ 257,339
|
8,138
|
$ 32,025
|
60,922
|
| Supplemental Schedule of Noncash Investing and Financing Activities |
|
|
|
|
| Beneficial conversion charge |
|
|
|
2,300,000
|
| Non-cash conversion of preferred stock into common stock |
|
|
|
386
|
| Preferred conversion of preferred stock into common stock |
|
|
|
$ 361,668
|
| Cashless exercise of stock warrants |
|
$ 452,874
|
$ 452,874
|
|
| Issuance of warrants |
|
|
$ 323,021
|
|
| Series B-1 Preferred Stock [Member] |
|
|
|
|
| Cash Flows from Operating Activities |
|
|
|
|
| Net loss |
|
|
|
|
| Cash Flows from Financing Activities |
|
|
|
|
| Issuance of preferred stock |
|
|
|
$ 5,050,090
|
| Series A Preferred Stock [Member] |
|
|
|
|
| Cash Flows from Operating Activities |
|
|
|
|
| Net loss |
|
|
|
|