Condensed Consolidated Statements of Operations - USD ($) |
3 Months Ended | 6 Months Ended | 12 Months Ended | |||
|---|---|---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
| OPERATING EXPENSES: | ||||||
| Research and development - related party | $ 264,558 | $ 615,881 | $ 514,558 | $ 1,215,881 | $ 2,023,595 | $ 2,223,643 |
| Research and development | 925,942 | 586,821 | 1,818,679 | 1,079,478 | 2,180,263 | 1,242,706 |
| General and administrative - related party | 27,000 | 27,000 | 54,000 | 54,000 | 804,022 | 108,693 |
| General and administrative | 767,649 | 1,237,982 | 1,523,001 | 2,424,340 | 3,714,943 | 4,488,415 |
| Stock-based compensation - related party | 43,818 | 43,818 | 87,635 | 87,154 | 175,752 | 252,868 |
| Stock-based compensation | 165,823 | 139,375 | 327,052 | 157,861 | 547,182 | 950,795 |
| TOTAL OPERATING EXPENSES | 2,194,790 | 2,650,877 | 4,324,925 | 5,018,714 | 9,445,757 | 9,267,120 |
| OTHER INCOME: | ||||||
| Interest income | 1,856 | 921 | 3,934 | 2,489 | 4,222 | 13,797 |
| Net loss before income taxes | (2,192,934) | (2,649,956) | (4,320,991) | (5,016,225) | (9,441,535) | (9,253,323) |
| Provision for income taxes | 0 | 0 | 0 | 0 | 0 | 0 |
| Net loss | (2,192,934) | (2,649,956) | (4,320,991) | (5,016,225) | (9,441,535) | (9,253,323) |
| Preferred Stock dividends | (504,712) | (339,146) | (1,024,752) | (674,565) | (279,824) | (1,664,219) |
| Net loss attributable to common shareholders | $ (2,697,646) | $ (2,989,102) | $ (5,345,743) | $ (5,690,790) | $ (9,721,359) | $ (10,917,542) |
| PER SHARE DATA: | ||||||
| Basic and diluted loss per common share | $ (0.05) | $ (0.11) | $ (0.11) | $ (0.22) | $ (0.36) | $ (0.49) |
| Basic and diluted weighted average common shares outstanding | 49,373,000 | 27,623,000 | 49,237,000 | 25,829,000 | 26,725,000 | 22,107,000 |