Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2016
Income Tax Disclosure [Abstract]  
Difference Between Expected Income Tax Benefits and Income Tax Benefit Recorded in the Financial Statements

The difference between expected income tax benefits and income tax benefit recorded in the financial statements is explained below:

 

     December 31,  
     2016      2015  

Income taxes benefit computed at statutory rate

    $ (2,380,073 )     $ (1,342,859 ) 

State income tax benefit, net

      (241,633 )       (136,332 ) 

Other

      74,355         20,950   

Change in valuation allowance

      2,547,351         1,458,241   
  

 

 

     

 

 

  

Total

    $ —         $ —     
  

 

 

     

 

 

  
Components of Deferred Income Tax Assets and Liabilities

The significant components of deferred income tax assets and liabilities consist of the following:

 

     December 31,  

Deferred tax assets (liabilities)

    2016      2015  

In-process research and development

    $ 996,154       $ 996,154   

Net operating loss carry forward

      2,995,024         1,681,549   

R&D credit

      142,721         60,213   

Share-based compensation

      2,010,742         841,524   

Accrued expenses

      —           17,850   
  

 

 

     

 

 

  
     6,144,641         3,597,290   
  

 

 

     

 

 

  

Less: valuation allowance

      (6,144,641 )       (3,597,290 ) 
  

 

 

     

 

 

  

Total

    $ —         $ —