CONDENSED STATEMENTS OF OPERATIONS (unaudited) - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
| Operating expenses: | ||||
| Research and development | $ 1,153,043 | $ 489,563 | $ 1,579,157 | $ 791,642 |
| General and administrative | 4,380,540 | 3,938,015 | 6,266,000 | 6,684,868 |
| Depreciation | 2,333 | 2,481 | 5,241 | 5,341 |
| Total operating expenses | 5,535,916 | 4,430,059 | 7,850,398 | 7,481,851 |
| Loss from operations | (5,535,916) | (4,430,059) | (7,850,398) | (7,481,851) |
| Other income (expense): | ||||
| (Loss) gain on change in fair value of derivatives | (556,433) | 198,563 | (824,858) | 198,563 |
| Interest income (expense) | 1 | (184) | 1 | (1,298) |
| Financing costs | 0 | (529,704) | 0 | (529,704) |
| Total other income (expense) | (556,432) | (331,325) | (824,857) | (332,439) |
| Loss before income taxes | (6,092,348) | (4,761,384) | (8,675,255) | (7,814,290) |
| Income taxes (benefit) | 0 | 0 | 0 | 0 |
| Net loss | (6,092,348) | (4,761,384) | (8,675,255) | (7,814,290) |
| Preferred stock dividend | (28,497) | (112,073) | (60,741) | (191,468) |
| NET LOSS AVAILABLE TO COMMON STOCKHOLDERS | $ (6,120,845) | $ (4,873,457) | $ (8,735,996) | $ (8,005,758) |
| Net loss per common share, basic and diluted (in Dollars per share) | $ (0.32) | $ (0.35) | $ (0.49) | $ (0.62) |
| Weighted average number of common shares outstanding, basic and diluted (in Shares) | 18,875,819 | 13,852,955 | 17,971,228 | 13,010,754 |
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- Definition Amount of amortization expense attributable to debt discount (premium) and debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of paid and unpaid preferred stock dividends declared with the form of settlement in cash, stock and payment-in-kind (PIK). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net amount of operating interest income (expense). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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