Quarterly report pursuant to Section 13 or 15(d)

CONDENSED BALANCE SHEETS

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CONDENSED BALANCE SHEETS - USD ($)
Mar. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 23,710,666 $ 29,872,564
Prepaid expenses and other current assets 667,077 722,249
Prepaid rent, current 80,784 80,784
Total current assets 24,458,527 30,675,597
Property and equipment, net 1,658,631 1,730,365
Prepaid rent, non-current 198,040 218,236
Other assets 51,330 51,330
Total assets 26,366,528 32,675,528
Current liabilities:    
Accounts payable 4,436,972 2,324,973
Accrued expenses 850,185 1,075,879
Deferred revenue 363,636 0
Total current liabilities $ 5,650,793 $ 3,400,852
Commitments and contingencies
Stockholders’ equity    
Preferred Stock, $0.00001 par value, 10,000,000 shares authorized at March 31, 2016 and December 31, 2015; no shares issued or outstanding $ 0 $ 0
Common Stock, $0.00001 par value, 50,000,000 shares authorized at March 31, 2016 and December 31, 2015; 16,488,977 and 16,298,208 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively. 163 161
Additional paid-in capital 110,219,294 107,981,695
Accumulated deficit (89,503,722) (78,707,180)
Total stockholders’ equity 20,715,735 29,274,676
Total liabilities and stockholders’ equity $ 26,366,528 $ 32,675,528