Capricor Therapeutics (CAPR) 10-Q 14 Aug 17 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 10, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Entity Registrant Name	CAPRICOR THERAPEUTICS, INC.
Entity Central Index Key	1,133,869
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	CAPR
Entity Common Stock, Shares Outstanding		23,496,249

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2017	Dec. 31, 2016
CURRENT ASSETS
Cash and cash equivalents	$ 8,260,897	$ 3,204,378
Marketable securities	3,998,520	12,990,510
Restricted cash	828,569	1,347,225
Grant receivable	312,870	223,335
Prepaid expenses and other current assets	239,331	342,892
TOTAL CURRENT ASSETS	13,640,187	18,108,340
PROPERTY AND EQUIPMENT, net	399,035	435,336
OTHER ASSETS
Intangible assets, net of accumulated amortization of $171,803 and $147,429, respectively	117,879	142,253
Other assets	61,166	61,426
TOTAL ASSETS	14,218,267	18,747,355
CURRENT LIABILITIES
Accounts payable and accrued expenses	2,177,280	3,038,780
Accounts payable and accrued expenses, related party	311,190	489,217
Loan payable, current	14,155,857	0
Deferred revenue, current	0	1,367,186
TOTAL CURRENT LIABILITIES	16,644,327	4,895,183
LONG-TERM LIABILITIES
Loan payable	0	13,905,857
CIRM liability	3,100,000	3,100,000
Accrued interest	1,060,316	849,469
TOTAL LONG-TERM LIABILITIES	4,160,316	17,855,326
TOTAL LIABILITIES	20,804,643	22,750,509
COMMITMENTS AND CONTINGENCIES (NOTE 7)
STOCKHOLDERS' EQUITY (DEFICIT)
Preferred stock, $0.001 par value, 5,000,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.001 par value, 50,000,000 shares authorized, 22,595,310 and 21,399,019 shares issued and outstanding, respectively	22,595	21,399
Additional paid-in capital	54,501,710	49,951,165
Accumulated other comprehensive income	7,317	3,524
Accumulated deficit	(61,117,998)	(53,979,242)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)	(6,586,376)	(4,003,154)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$ 14,218,267	$ 18,747,355

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Net of accumulated amortization (in dollars)	$ 171,803	$ 147,429
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	22,595,310	21,399,019
Common stock, shares outstanding	22,595,310	21,399,019

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
INCOME
Collaboration income	$ 683,592	$ 911,458	$ 1,367,186	$ 1,822,916
Grant income	312,870	218,361	510,083	521,992
TOTAL INCOME	996,462	1,129,819	1,877,269	2,344,908
OPERATING EXPENSES
Research and development	3,128,182	4,307,948	6,385,331	8,649,067
General and administrative	1,246,942	1,434,259	2,436,181	2,518,955
TOTAL OPERATING EXPENSES	4,375,124	5,742,207	8,821,512	11,168,022
LOSS FROM OPERATIONS	(3,378,662)	(4,612,388)	(6,944,243)	(8,823,114)
OTHER INCOME (EXPENSE)
Investment income	12,052	427	16,334	10,937
Interest expense	(105,527)	(76,887)	(210,847)	(143,011)
TOTAL OTHER INCOME (EXPENSE)	(93,475)	(76,460)	(194,513)	(132,074)
NET LOSS	(3,472,137)	(4,688,848)	(7,138,756)	(8,955,188)
OTHER COMPREHENSIVE GAIN (LOSS)
Net unrealized gain (loss) on marketable securities	(2,394)	1,551	3,793	(4,607)
COMPREHENSIVE LOSS	$ (3,474,531)	$ (4,687,297)	$ (7,134,963)	$ (8,959,795)
Net loss per share, basic and diluted (in dollars per share)	$ (0.16)	$ (0.26)	$ (0.33)	$ (0.52)
Weighted average number of shares, basic and diluted (in shares)	22,135,198	17,952,323	21,769,142	17,244,912

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT) - 6 months ended Jun. 30, 2017 - USD ($)	Total	COMMON STOCK [Member]	ADDITIONAL PAID-IN CAPITAL[Member]	OTHER COMPREHENSIVE INCOME [Member]	ACCUMULATED DEFICIT [Member]
Balance at Dec. 31, 2016	$ (4,003,154)	$ 21,399	$ 49,951,165	$ 3,524	$ (53,979,242)
Balance (in shares) at Dec. 31, 2016		21,399,019
Issuance of common stock, net of fees	3,681,861	$ 1,196	3,680,665	0	0
Issuance of common stock, net of fees (in shares)		1,196,291
Stock-based compensation	869,880	$ 0	869,880	0	0
Stock-based compensation (in shares)		0
Unrealized gain on marketable securities	3,793	$ 0	0	3,793	0
Net loss	(7,138,756)	0	0	0	(7,138,756)
Balance at Jun. 30, 2017	$ (6,586,376)	$ 22,595	$ 54,501,710	$ 7,317	$ (61,117,998)
Balance (in shares) at Jun. 30, 2017		22,595,310

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (3,472,137)	$ (4,688,848)	$ (7,138,756)	$ (8,955,188)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization			76,055	65,097
Stock-based compensation	398,089	654,025	869,880	944,611
Change in assets - (increase) decrease:
Receivables			(89,535)	(6,423)
Prepaid expenses and other current assets			103,561	(28,660)
Other assets			260	8,590
Change in liabilities - increase (decrease):
Accounts payable and accrued expenses			(861,044)	393,100
Accounts payable and accrued expenses, related party			(178,027)	194,391
Accrued interest			210,847	142,452
Deferred revenue			(1,367,186)	(1,822,916)
NET CASH USED IN OPERATING ACTIVITIES			(8,373,945)	(9,064,946)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of marketable securities			(6,004,217)	(2,505,572)
Proceeds from sales and maturities of marketable securities			15,000,000	8,000,000
Purchases of property and equipment			(15,836)	(75,671)
Payments for leasehold improvements			0	(1,769)
NET CASH PROVIDED BY INVESTING ACTIVITIES			8,979,947	5,416,988
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from sale of common stock			3,681,861	3,929,795
Proceeds from loan payable			250,000	3,000,000
Proceeds from stock awards, warrants, and options			0	986
NET CASH PROVIDED BY FINANCING ACTIVITIES			3,931,861	6,930,781
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH			4,537,863	3,282,823
Cash, cash equivalents, and restricted cash balance at beginning of period			4,551,603	5,568,306	$ 5,568,306
Cash, cash equivalents, and restricted cash balance at end of period	$ 9,089,466	$ 8,851,129	9,089,466	8,851,129	$ 4,551,603
SUPPLEMENTAL DISCLOSURES:
Interest paid in cash			0	1,343
Income taxes paid in cash			$ 0	$ 0

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The mission of Capricor Therapeutics, Inc., a Delaware corporation (referred to herein as “Capricor Therapeutics” or the “Company”), is to develop therapies for the treatment of diseases based upon the Company’s proprietary cell-based and exosome-based technology. Capricor, Inc. (“Capricor”), a wholly-owned subsidiary of Capricor Therapeutics, was founded in 2005 as a Delaware corporation based on the innovative work of its founder, Eduardo Marbán, M.D., Ph.D. After completion of a merger between Capricor and a subsidiary of Nile Therapeutics, Inc., a Delaware corporation (“Nile”), on November 20, 2013, Capricor became a wholly-owned subsidiary of Nile and Nile formally changed its name to Capricor Therapeutics, Inc. Capricor Therapeutics and its subsidiary, Capricor, together have four drug candidates, two of which are in various stages of active development. The accompanying unaudited interim condensed consolidated financial statements for Capricor Therapeutics and its wholly-owned subsidiary have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and with the instructions to Form 10-Q and, therefore, do not include all disclosures necessary for a complete presentation of financial position, results of operations and cash flows in conformity with U.S. GAAP. In the Company’s opinion, all adjustments, consisting of normal and recurring adjustments, considered necessary for a fair presentation have been included. The accompanying financial information should be read in conjunction with the financial statements and the notes thereto in the Company’s most recent Annual Report on Form 10-K, as filed with the Securities and Exchange Commission (“SEC”) on March 16, 2017, from which the December 31, 2016 consolidated balance sheet has been derived. Interim results are not necessarily indicative of the results that may be expected for the year ending December 31, 2017. Our condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All intercompany transactions have been eliminated in consolidation. The Company has historically financed its research and development activities as well as operational expenses from equity financings, Federal government grants, a payment from Janssen Biotech, Inc. (“Janssen”) pursuant to a Collaboration Agreement with Janssen and a loan award and a grant from the California Institute for Regenerative Medicine (“CIRM”). Cash, cash equivalents and marketable securities as of June 30, 2017 were approximately $ 12.3 16.2 0.001 5.0 900,939 1.45 1.3 The Company has been awarded various grant and loan awards which fund, in part, various pre-clinical and clinical activities (see Note 2 – “Loan Payable” and Note 6 – “Government Grant Awards”). The Company has up to approximately $ 6.3 The Company’s principal uses of cash are for research and development expenses, general and administrative expenses, capital expenditures and other working capital requirements. The Company’s future expenditures and capital requirements may be substantial and will depend on many factors, including, but not limited to, the following: ⋅ the timing and costs associated with its clinical trials and preclinical studies; ⋅ the timing and costs associated with the manufacturing of its product candidates; ⋅ the timing and costs associated with commercialization of its product candidates; ⋅ the number and scope of its research programs; and ⋅ the costs involved in prosecuting and enforcing patent claims and other intellectual property rights. The Company has implemented certain budget reductions starting in the end of the second quarter ending June 30, 2017. The The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements. Estimates also affect the reported amounts of revenues and expenses during the reporting period. The most sensitive estimates relate to recoverability and fair value of intangible assets and the assumptions used to estimate stock-based compensation expense. Management uses its historical records and knowledge of its business in making these estimates. Accordingly, actual results may differ from these estimates. The Company considers all highly liquid investments with a maturity of three months or less at the date of purchase to be cash equivalents. June 30, June 30, 2017 2016 Cash and cash equivalents $ 8,260,897 $ 8,851,129 Restricted cash 828,569 - Total cash, cash equivalents, and restricted cash shown in the statements of cash flows $ 9,089,466 $ 8,851,129 The Company has two awards with CIRM designated for specific use, a Loan Agreement with CIRM (the “CIRM Loan Agreement”) entered into on February 5, 2013 (see Note 2 – “Loan Payable”) in connection with the ALLSTAR Phase II clinical trial and the CIRM Award (see Note 6 – “Government Grant Awards”) related to the HOPE Phase I/II clinical trial. Restricted cash represents funds received under these awards which are to be allocated to the research costs as incurred. Generally, a reduction of restricted cash occurs when the Company deems certain costs are attributable to the respective award. The restricted cash balance was approximately $ 0.8 1.3 The Company determines the appropriate classification of its marketable securities at the time of purchase and reevaluates such designation at each balance sheet date. All of the Company’s marketable securities are considered as available-for-sale and carried at estimated fair values. Realized gains and losses on the sale of debt and equity securities are determined using the specific identification method. Unrealized gains and losses on available-for-sale securities are excluded from net income and reported in accumulated other comprehensive income (loss) as a separate component of stockholders’ equity. Property and equipment are stated at cost. Repairs and maintenance costs are expensed in the period incurred. Depreciation is computed using the straight-line method over the related estimated useful life of the asset, which such estimated useful lives range from five to seven years. Leasehold improvements are depreciated on a straight-line basis over the shorter of the useful life of the asset or the lease term. Depreciation was approximately $ 51,681 40,722 June 30, December 31, 2017 2016 Furniture and fixtures $ 46,709 $ 51,161 Laboratory equipment 603,646 587,809 Leasehold improvements 47,043 47,043 697,398 686,013 Less accumulated depreciation (298,363) (250,677) Property and equipment, net $ 399,035 $ 435,336 Amounts attributable to intellectual property consist primarily of the costs associated with the acquisition of certain technologies, patents, pending patents and related intangible assets with respect to research and development activities. Certain intellectual property assets are stated at cost and are amortized on a straight-line basis over the respective estimated useful lives of the assets ranging from five to fifteen years. Also, the Company recorded capitalized loan fees as a component of intangible assets on the consolidated balance sheet (see Note 2 – “Loan Payable”). Total amortization expense was approximately $ 24,375 Years ended Amortization Expense 2017 (6 months) $ 24,375 2018 43,733 2019 43,276 2020 4,330 2021 2,165 As a result of the merger in 2013 between Capricor and Nile, the Company recorded $1.5 million as in-process research and development in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 805, Business Combinations 1.5 Government Research Grants Generally, government research grants that provide funding for research and development activities are recognized as income when the related expenses are incurred, as applicable. Because the terms of the CIRM Award allow Capricor to elect to convert the grant into a loan at the end of the project period, the CIRM Award is being classified as a liability rather than income (see Note 6 - “Government Grant Awards”). Revenue from nonrefundable, up-front license or technology access payments under license and collaborative arrangements that are not dependent on any future performance by the Company is recognized when such amounts are earned. If the Company has continuing obligations to perform under the arrangement, such fees are recognized over the estimated period of the continuing performance obligation. The Company accounts for multiple element arrangements, such as license and development agreements in which a customer may purchase several deliverables, in accordance with FASB ASC Subtopic 605-25, Multiple Element Arrangements The Company determined that the deliverables under its Collaboration Agreement with Janssen (see Note 8 – “License Agreements”) did not meet the criteria to be considered separate accounting units for the purposes of revenue recognition. As a result, the Company recognizes revenue from non-refundable, upfront fees ratably over the term of its performance under the agreement with Janssen. The upfront payments received, pending recognition as revenue, are recorded as deferred revenue and are classified as a short-term or long-term liability on the consolidated balance sheets of the Company and amortized over the estimated period of performance. The Company periodically reviews the estimated performance period of its contract based on the estimated progress of its project. As of June 30, 2017, the full amount of income has been recognized under the Janssen Agreement. The Company accounts for the funds advanced under the CIRM Loan Agreement (see Note 2 – “Loan Payable”) as a loan payable as the eventual repayment of the loan proceeds or forgiveness of the loan is contingent upon certain future milestones being met and other conditions. As the likelihood of whether or not the Company will ever achieve these milestones or satisfy these conditions cannot be reasonably predicted at this time, the Company records these amounts as a loan payable. Rent Rent expense for the Company’s leases, which generally have escalating rental amounts over the term of the lease, is recorded on a straight-line basis over the lease term. The difference between the rent expense and rent paid has been recorded as deferred rent in the consolidated balance sheet under accounts payable and accrued expenses and accounts payable and accrued expenses, related party, as applicable. Rent is amortized on a straight-line basis over the term of the applicable lease, without consideration of renewal options. Costs relating to the design and development of new products are expensed as research and development as incurred in accordance with FASB ASC 730-10, Research and Development 3.1 4.3 6.4 8.6 Comprehensive income (loss) generally represents all changes in stockholders’ equity during the period except those resulting from investments by, or distributions to, stockholders. The Company’s comprehensive loss was approximately $ 3.5 4.7 7.1 9.0 (2,394) 1,551 3,793 (4,607) Stock-Based Compensation The Company accounts for stock-based employee compensation arrangements in accordance with guidance issued by the FASB, which requires the measurement and recognition of compensation expense for all share-based payment awards made to employees, consultants, and directors based on estimated fair values. The Company estimates the fair value of stock-based compensation awards on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as an expense over the requisite service periods in the Company’s statements of operations. The Company estimates the fair value of stock-based compensation awards using the Black-Scholes model. This model requires the Company to estimate the expected volatility and value of its common stock and the expected term of the stock options, all of which are highly complex and subjective variables. The variables take into consideration, among other things, actual and projected stock option exercise behavior. For employees and directors, the expected life was calculated based on the simplified method as described by the SEC Staff Accounting Bulletin No. 110, Share-Based Payment. For other service providers, the expected life was calculated using the contractual term of the award. The Company's estimate of expected volatility was based on the historical stock price of the Company. The Company has selected a risk-free rate based on the implied yield available on U.S. Treasury securities with a maturity equivalent to the expected term of the options. Basic loss per share is computed using the weighted-average number of common shares outstanding during the period. Diluted loss per share is computed using the weighted-average number of common shares and dilutive potential common shares outstanding during the period. Dilutive potential common shares, which primarily consist of stock options issued to employees, consultants and directors as well as warrants issued to third parties, have been excluded from the diluted loss per share calculation because their effect is anti-dilutive. For the three months ended June 30, 2017 and 2016, warrants and options to purchase 8,177,295 7,732,632 8,177,295 7,732,632 Assets and liabilities recorded at fair value in the balance sheet are categorized based upon the level of judgment associated with the inputs used to measure their fair value. The categories are as follows: Level Input: Input Definition: Level I Inputs are unadjusted, quoted prices for identical assets or liabilities in active markets at the measurement date. Level II Inputs, other than quoted prices included in Level I, that are observable for the asset or liability through corroboration with market data at the measurement date. Level III Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. June 30, 2017 Level I Level II Level III Total Marketable securities $ 3,998,520 $ - $ - $ 3,998,520 December 31, 2016 Level I Level II Level III Total Marketable securities $ 12,990,510 $ - $ - $ 12,990,510 Carrying amounts reported in the balance sheet of cash and cash equivalents, grants receivable, accounts payable and accrued expenses approximate fair value due to their relatively short maturity. The carrying amounts of the Company’s marketable securities are based on market quotations from national exchanges at the balance sheet date. Interest and dividend income are recognized separately on the income statement based on classifications provided by the brokerage firm holding the investments. The fair value of borrowings is not considered to be significantly different from its carrying amount because the stated rates for such debt reflect current market rates and conditions. In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern (Topic 915): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern Consolidation (Topic 810): Amendments to the Consolidation Analysis . In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs . Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of Credit Arrangements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , Leases (Topic 840) In March 2016, the FASB issued ASU 2016-09, Compensation — Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the SEC, did not or are not believed by management to have a material impact on the Company’s present or future condensed consolidated financial statement presentation or disclosures. For a more detailed listing of the Company’s significant accounting policies, see Note 1 – “Organization and Summary of Significant Accounting Policies,” of the notes to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, as filed with the SEC on March 16, 2017.

LOAN PAYABLE

LOAN PAYABLE	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	LOAN PAYABLE Pursuant to the terms of the CIRM Loan Agreement, CIRM agreed to disburse $ 19,782,136 70 75 Under the CIRM Loan Agreement, Capricor is required to repay the CIRM loan with interest at the end of the loan period. The loan also provides for the payment of a risk premium whereby Capricor is required to pay CIRM a premium of up to 500 2 1 5 Under the terms of the CIRM Loan Agreement, if Capricor is not in default, the loan may be forgiven during the term of the project period if Capricor abandons the trial due to the occurrence of a no-go milestone. After the end of the project period, the loan may also be forgiven if Capricor elects to abandon the project under certain circumstances. Under the terms of the CIRM Loan Agreement, Capricor is required to meet certain financial milestones by demonstrating to CIRM prior to each disbursement of loan proceeds that it has sufficient funds available to cover all costs and expenses anticipated to be required to continue Phase II of the ALLSTAR trial for at least the following 12-month period, less the costs budgeted to be covered by planned loan disbursements. Capricor did not issue stock, warrants or other equity to CIRM in connection with this loan award. Additionally, on September 30, 2015, the Company entered into a Joinder Agreement with Capricor and CIRM, pursuant to which, among other things, the Company agreed to become a loan party under the CIRM Loan Agreement and to be jointly and severally responsible with Capricor for the performance of, and to be bound by the obligations and liabilities under, the CIRM Loan Agreement, subject to the rights and benefits afforded to a loan recipient thereunder. In addition to the foregoing, the timing of the distribution of funds pursuant to the CIRM Loan Agreement shall be contingent upon the availability of funds in the California Stem Cell Research and Cures Fund in the California State Treasury, as determined by CIRM in its sole discretion. The due diligence costs are recorded as a discount on the loan and amortized to general and administrative expenses over the remaining term of the loan. As of June 30, 2017, $ 30,000 3,192 In 2013, Capricor received disbursements pursuant to the terms of the CIRM Loan Agreement of $ 3,925,066 2.5 2.8 In 2014, Capricor received disbursements pursuant to the terms of the CIRM Loan Agreement of $ 5,194,124 2.6 In 2016, Capricor received disbursements pursuant to the terms of the CIRM Loan Agreement of $ 4,750,000 3.2 3.4 In June 2017, Capricor received an additional disbursement of $ 250,000 3.7 For the three months ended June 30, 2017 and 2016, interest expense under the CIRM Loan Agreement was approximately $ 105,527 76,663 210,847 142,452 14,155,857 13,905,857 In May 2017, we announced that a pre-specified administrative interim analysis performed on six-month follow-up data from the ALLSTAR trial demonstrated a low probability (futility) of achieving a statistically-significant difference in the 12-month primary efficacy endpoint of percent change from baseline infarct size as a percentage of left ventricular mass, measured by cardiac MRI. As a result, we transitioned the remaining subjects in the ALLSTAR trial into long-term follow-up.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2017
Stockholders Equity Note [Abstract]
Stockholders Equity Note Disclosure [Text Block]	STOCKHOLDERS’ EQUITY March 2016 Registered Direct Offering On March 16, 2016, the Company issued and sold to certain investors an aggregate of 1,692,151 2.40 4,060,000 0.1 3.9 In connection with the sale of shares of the Company’s common stock, on March 16, 2016, the Company also issued and sold to the investors, in a concurrent private placement, warrants to purchase up to an aggregate of 846,073 4.50 7.50 0.001 September 2016 Underwritten Public and Registered Direct Offering In September 2016, the Company completed an underwritten registered public offering and concurrent registered direct offering pursuant to which the Company issued an aggregate of 3,403,125 3.20 10,890,000 1.0 9.9 Common Stock Sales Agreement On March 31, 2017, the Company entered into the Sales Agreement with Wainwright, under which the Company may, from time to time, issue and sell shares of its common stock through Wainwright as sales agent in an at-the-market offering under a prospectus supplement for aggregate sales proceeds of up to $5.0 million. The common stock will be distributed at the market prices prevailing at the time of sale. The Sales Agreement provides that Wainwright will be entitled to compensation for its services at a commission rate of 3.0% of the gross sales price per share of common stock sold. As of June 30, 2017, no shares had been sold by the Company pursuant to the ATM Program. Subsequently, as of the date of filing of this quarterly report on Form 10-Q, the Company has sold an aggregate of 900,939 common shares under the ATM Program at an average price of approximately $1.45 per common share for gross proceeds of approximately $1.3 million (see Note 10 – “Subsequent Events”). May 2017 Financing On May 5, 2017, the Company entered into Subscription Agreements with certain accredited investors (the “Investors”), pursuant to which the Company agreed to issue and sell to the investors, in a private placement (the “Private Placement”), an aggregate of 1,196,291 0.001 3.10 3.7 In connection with the Private Placement, the Company also entered into a Registration Rights Agreement with the Investors. Pursuant to the terms of the Registration Rights Agreement, the Company is obligated (i) to prepare and file with the SEC a registration statement to register for resale the shares issued in the Private Placement, and (ii) to use its reasonable best efforts to cause the registration statement to be declared effective by the SEC as soon as practicable, in each case subject to certain deadlines. The Company will be required to pay to each Investor liquidated damages equal to 1.0% of the aggregate purchase price paid by such Investor pursuant to the Subscription Agreements for the shares per month (up to a cap of 10.0%) if it does not meet certain obligations with respect to the registration of the shares, subject to certain conditions. Pursuant to its obligations under the Registration Rights Agreement, the Company registered for resale the shares issued in the Private Placement pursuant to a registration statement on Form S-3 (File No. 333-219188), which was filed with the SEC on July 7, 2017 and declared effective on July 17, 2017. Outstanding Shares At June 30, 2017, the Company had 22,595,310

STOCK AWARDS, WARRANTS AND OPTI

STOCK AWARDS, WARRANTS AND OPTIONS	6 Months Ended
	Jun. 30, 2017
Stock Awards, Warrants and Options [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	STOCK AWARDS, WARRANTS AND OPTIONS Warrants Warrants Weighted Average Exercise Price Outstanding at January 1, 2017 1,081,903 $ 4.01 Granted - - Exercised - - Expired (187) 2.27 Outstanding at June 30, 2017 1,081,716 $ 4.01 At June 30, 2017 Grant Date Warrants Outstanding Exercise Price Expiration Date 11/20/2013 235,643 $ 2.27 11/20/2018 3/16/2016 846,073 $ 4.50 3/16/2019 1,081,716 Stock Options The Company’s Board of Directors (the “Board”) has approved three stock option plans: (i) the 2006 Stock Option Plan, (ii) the 2012 Restated Equity Incentive Plan (which superseded the 2006 Stock Option Plan) (the “2012 Plan”), and (iii) the 2012 Non-Employee Director Stock Option Plan (the “2012 Non-Employee Director Plan”). At the time the merger between Capricor and Nile became effective, 4,149,710 100,000 On June 2, 2016 at the Company’s annual stockholder meeting, the stockholders approved a proposal to amend the 2012 Plan, to, among other things, increase the number of shares of common stock of the Company that may be issued under the 2012 Plan to equal the sum of 4,149,710 2 2 4,474,809 325,099 427,980 At the time the merger between Capricor and Nile became effective, 2,697,311 Each of the Company’s stock option plans are administered by the Board, or a committee appointed by the Board, which determines the recipients and types of awards to be granted, as well as the number of shares subject to the awards, the exercise price and the vesting schedule. Currently, stock options are granted with an exercise price equal to the closing price of the Company’s common stock on the date of grant, and generally vest over a period of one to four years. The term of stock options granted under each of the plans cannot exceed ten years. The estimated weighted average fair value of the options granted during the three months ended June 30, 2017 and 2016 were approximately $ 2.81 2.15 1.78 2.00 June 30, 2017 June 30, 2016 Expected volatility 78% - 132% 79% - 80% Expected term 5 – 10 years 5 - 7 years Dividend yield 0% 0% Risk-free interest rates 2.0% - 2.3% 0.5% - 1.7% Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 General and administrative $ 298,570 $ 471,761 $ 599,792 $ 691,085 Research and development 99,519 182,264 270,088 253,526 Total $ 398,089 $ 654,025 $ 869,880 $ 944,611 Common stock, stock options or other equity instruments issued to non-employees (including consultants) as consideration for goods or services received by the Company are accounted for based on the fair value of the equity instruments issued (unless the fair value of the consideration received can be more reliably measured). The fair value of stock options is determined using the Black-Scholes option-pricing model and is periodically re-measured as the underlying options vest. The fair value of any options issued to non-employees is recorded as an expense over the applicable vesting periods. Weighted Number of Average Aggregate Options Exercise Price Intrinsic Value Outstanding at January 1, 2017 6,608,382 $ 1.62 $ - Granted 617,131 2.60 Exercised - - Expired/Cancelled (129,934) 3.92 Outstanding at June 30, 2017 7,095,579 $ 1.66 $ - Exercisable at June 30, 2017 5,620,242 $ 1.19 $ - The aggregate intrinsic value represents the excess difference between the estimated fair value of the Company’s common stock for each of the respective periods and exercise price of the options.

CONCENTRATIONS

CONCENTRATIONS	6 Months Ended
	Jun. 30, 2017
Risks and Uncertainties [Abstract]
Concentration Risk Disclosure [Text Block]	5. CONCENTRATIONS Cash Concentration The Company has historically maintained checking accounts at two financial institutions. These accounts are each insured by the Federal Deposit Insurance Corporation for up to $ 250,000 12.7

GOVERNMENT GRANT AWARDS

GOVERNMENT GRANT AWARDS	6 Months Ended
	Jun. 30, 2017
Award [Abstract]
Government Grant Awards Disclosure [Text Block]	6. GOVERNMENT GRANT AWARDS CIRM Grant Award (HOPE) On June 16, 2016, Capricor entered into the CIRM Award with CIRM in the amount of approximately $ 3.4 2.3 After completing the CIRM funded research project and after the award period end date, estimated to be in late 2017 or in 2018, Capricor has the right to convert the CIRM Award into a loan, the terms of which will be determined based on various factors, including the stage of the research and development of the program at the time the election is made. On June 20, 2016, Capricor entered into a Loan Election Agreement with CIRM whereby, among other things, CIRM and Capricor agreed that if converted, the term of the loan would be five years from the date of execution of the applicable loan agreement; provided that the term of the loan will not exceed ten years from the date on which the CIRM Award was granted. Beginning on the date of the loan, the loan shall bear interest on the unpaid principal balance plus the interest that was accrued prior to the election point according to the terms set forth in CIRM’s Loan Policy (the “New Loan Balance”) at a per annum rate equal to the LIBOR rate for a three-month deposit in U.S. dollars, as published by the Wall Street Journal on the loan date, plus one percent. Interest shall be compounded annually on the outstanding New Loan Balance commencing with the loan date and the interest shall be payable, together with the New Loan Balance, upon the due date of the loan. If Capricor elects to convert the CIRM Award into a loan, certain requirements of the CIRM Award will no longer be applicable, including the revenue sharing requirements. Capricor will not make its decision as to whether it will elect to convert the CIRM Award into a loan until after the end of the HOPE-Duchenne trial. Since Capricor may be required to repay some or all of the amounts awarded by CIRM, the Company will account for this award as a liability rather than income. If Capricor were to lose this funding, it may be required to delay, postpone, or cancel its HOPE-Duchenne trial or otherwise reduce or curtail its operations, unless it was able to obtain adequate financing for its clinical trial from alternative sources. In July 2016, Capricor received the first disbursement of $ 2.0 Additionally, in September 2016, the Company completed the first operational milestone which was tied to the completion of enrollment of the HOPE-Duchenne clinical trial, for which $ 1.1 3.1 0.8 On August 8, 2017, we entered into an Amendment to the CIRM Notice of Award pursuant to which CIRM approved the Company’s request to use the remaining estimated project funds of the CIRM Award for technology transfer activities in support of the manufacture of CAP-1002 to a designated contract manufacturing organization, or CMO, which will enable Capricor to offer access to CAP-1002 to patients from the control arm of the ongoing study (HOPE) via an open-label extension protocol, subject to regulatory approval. (see Note 10 – “Subsequent Events”). NIH Grant Award (DYNAMIC) In August 2013, Capricor was approved for a Phase IIB bridge grant through the NIH Small Business Innovation Research (“SBIR”) program for continued development of its CAP-1002 product candidate. Under the terms of the NIH grant, disbursements were made to Capricor over a period of approximately three years, in an aggregate amount of approximately $ 2.9 2.9 NIH Grant Award (HLHS) In September 2016, Capricor was approved for a grant from the NIH to study CAP-2003 (cardiosphere-derived cell exosomes) for hypoplastic left heart syndrome (HLHS). Under the terms of the NIH grant, disbursements will be made to Capricor in an amount up to approximately $ 4.2 0.2 U.S. Department of Defense Grant Award In September 2016, Capricor was approved for a grant award from the DoD in the amount of approximately $ 2.4 0.6

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	COMMITMENTS AND CONTINGENCIES Leases Capricor leases space for its corporate offices pursuant to a lease that was originally effective for a two-year period beginning July 1, 2013 with an option to extend the lease for an additional twelve months. The monthly lease payment was $ 16,620 17,285 17,957 21,420 22,111 22,995 23,915 24,872 Capricor entered into a facilities lease with Cedars-Sinai Medical Center (“CSMC”), a shareholder of the Company, for two research labs (the “Facilities Lease”). The Facilities Lease is for a term of three years commencing June 1, 2014 and replaces the month-to-month lease that was previously in effect between CSMC and Capricor. The monthly lease payment under the Facilities Lease was approximately $ 15,461 19,350 Years ended Operating Leases 2017 (6 months) $ 143,490 2018 292,722 Total minimum lease payments $ 436,212 Expense incurred under operating leases to unrelated parties was approximately $ 71,215 65,088 142,430 130,176 56,754 56,105 112,859 112,211 Legal Contingencies The Company is not party to any material legal proceedings at this time. From time to time, the Company may become involved in various legal proceedings that arise in the ordinary course of our business.

LICENSE AGREEMENTS

LICENSE AGREEMENTS	6 Months Ended
	Jun. 30, 2017
License Agreements [Abstract]
License Agreements [Text Block]	8. LICENSE AGREEMENTS Capricor’s Technology - CAP-1002, CAP-1001, CSps and Exosomes Capricor has entered into exclusive license agreements for intellectual property rights related to cardiac-derived cells with Università Degli Studi Di Roma La Sapienza (the “University of Rome”), The Johns Hopkins University (“JHU”) and CSMC. In addition, Capricor has filed patent applications related to enhancements or validation of the technology developed by its own scientists. University of Rome License Agreement Capricor and the University of Rome entered into a License Agreement, dated June 21, 2006 (the “Rome License Agreement”), which provides for the grant of an exclusive, world-wide, royalty-bearing license by the University of Rome to Capricor (with the right to sublicense) to develop and commercialize licensed products under the licensed patent rights in all fields. With respect to any new or future patent applications assigned to the University of Rome utilizing cardiac stem cells in cardiac care, Capricor has a first right of negotiation for a certain period of time to obtain a license thereto. Pursuant to the Rome License Agreement, Capricor paid the University of Rome a license issue fee, is currently paying minimum annual royalties in the amount of 20,000 The Rome License Agreement will, unless extended or sooner terminated, remain in effect until the later of the last claim of any patent or until any patent application comprising licensed patent rights has expired or been abandoned. Under the terms of the Rome License Agreement, either party may terminate the agreement should the other party become insolvent or file a petition in bankruptcy. Either party will have up to 90 days to cure its material breach. The Johns Hopkins University License Agreement Capricor and JHU entered into an Exclusive License Agreement, effective June 22, 2006 (the “JHU License Agreement”), which provides for the grant of an exclusive, world-wide, royalty-bearing license by JHU to Capricor (with the right to sublicense) to develop and commercialize licensed products and licensed services under the licensed patent rights in all fields and a nonexclusive right to the know-how. In May 2009, the JHU License Agreement was amended to add additional patent rights to the JHU License Agreement in consideration of a payment to JHU and reimbursement of patent costs. Capricor and JHU executed a Second Amendment to the JHU License Agreement, effective as of December 20, 2013, pursuant to which, among other things, certain definitions were added or amended, the timing of certain obligations was revised and other obligations of the parties were clarified. Under the JHU License Agreement, Capricor is required to exercise commercially reasonable and diligent efforts to develop and commercialize licensed products covered by the licenses from JHU. Pursuant to the JHU License Agreement, JHU was paid an initial license fee and, thereafter, Capricor is required to pay minimum annual royalties on the anniversary dates of the JHU License Agreement. The minimum annual royalties range from $ 5,000 20,000 100,000 1,000,000 1,850,000 The JHU License Agreement will, unless sooner terminated, continue in effect in each applicable country until the date of expiration of the last to expire patent within the patent rights, or, if no patents are issued, then for twenty years from the effective date. Under the terms of the JHU License Agreement, either party may terminate the agreement should the other party become insolvent or file a petition in bankruptcy, or fail to cure a material breach within 30 days after notice. In addition, Capricor may terminate for any reason upon 60 days’ written notice. Cedars-Sinai Medical Center License Agreements License Agreement for CDCs On January 4, 2010, Capricor entered into an Exclusive License Agreement with CSMC (the “Original CSMC License Agreement”) for certain intellectual property rights. In 2013, the Original CSMC License Agreement was amended twice resulting in, among other things, a reduction in the percentage of sublicense fees which would have been payable to CSMC. Effective December 30, 2013, Capricor entered into an Amended and Restated Exclusive License Agreement with CSMC (the “Amended CSMC License Agreement”), pursuant to which, among other things, certain definitions were added or amended, the timing of certain obligations was revised and other obligations of the parties were clarified. The Amended CSMC License Agreement provides for the grant of an exclusive, world-wide, royalty-bearing license by CSMC to Capricor (with the right to sublicense) to conduct research using the patent rights and know-how and develop and commercialize products in the field using the patent rights and know-how. In addition, Capricor has the exclusive right to negotiate for an exclusive license to any future rights arising from related work conducted by or under the direction of Dr. Eduardo Marbán on behalf of CSMC. In the event the parties fail to agree upon the terms of an exclusive license for any future rights, Capricor will have a non-exclusive license to such future rights, subject to royalty obligations. Pursuant to the Original CSMC License Agreement, CSMC was paid a license fee and Capricor was obligated to reimburse CSMC for certain fees and costs incurred in connection with the prosecution of certain patent rights. Additionally, Capricor is required to meet certain spending and development milestones. The annual spending requirements range from $ 350,000 800,000 Pursuant to the Amended CSMC License Agreement, Capricor remains obligated to pay low single-digit royalties on sales of royalty-bearing products as well as a low double-digit percentage of the consideration received from any sublicenses or other grant of rights. The above-mentioned royalties are subject to reduction in the event Capricor becomes obligated to obtain a license from a third party for patent rights in connection with the royalty-bearing product. In 2010, Capricor discontinued its research under some of the patents. The Amended CSMC License Agreement will, unless sooner terminated, continue in effect on a country by country basis until the last to expire of the patents covering the patent rights or future patent rights. Under the terms of the Amended CSMC License Agreement, unless waived by CSMC, the agreement shall automatically terminate: (i) if Capricor ceases, dissolves or winds up its business operations; (ii) in the event of the insolvency or bankruptcy of Capricor or if Capricor makes an assignment for the benefit of its creditors; (iii) if performance by either party jeopardizes the licensure, accreditation or tax exempt status of CSMC or the agreement is deemed illegal by a governmental body; (iv) within 30 days for non-payment of royalties; (v) after 90 days’ notice from CSMC if Capricor fails to undertake commercially reasonable efforts to exploit the patent rights or future patent rights; (vi) if a material breach has not been cured within 90 days; or (vii) if Capricor challenges any of the CSMC patent rights. If Capricor fails to undertake commercially reasonable efforts to exploit the patent rights or future patent rights, and fails to cure that breach after 90 days’ notice from CSMC, instead of terminating the license, CSMC has the option to convert any exclusive license to Capricor to a non-exclusive or co-exclusive license. Capricor may terminate the agreement if CSMC fails to cure any material breach within 90 days after notice. On March 20, 2015, Capricor and CSMC entered into a First Amendment to the Amended CSMC License Agreement, pursuant to which the parties agreed to delete certain patent applications from the list of Scheduled Patents which Capricor determined not to be material to the portfolio. On August 5, 2016, Capricor and CSMC entered into a Second Amendment to the Amended CSMC License Agreement (the “Second License Amendment”), pursuant to which the parties agreed to add certain patent families to the schedule of patent rights set forth in the agreement. Under the Second License Amendment, (i) the description of patent rights in Schedule A has been replaced by a Revised Schedule A that includes two additional patent family applications; (ii) Capricor paid an upfront fee of $ 2,500 10,000 License Agreement for Exosomes On May 5, 2014, Capricor entered into an Exclusive License Agreement with CSMC (the “Exosomes License Agreement”) for certain intellectual property rights related to exosomes technology. The Exosomes License Agreement provides for the grant of an exclusive, world-wide, royalty-bearing license by CSMC to Capricor (with the right to sublicense) in order to conduct research using the patent rights and know-how and to develop and commercialize products in the field using the patent rights and know-how. In addition, Capricor has the exclusive right to negotiate for an exclusive license to any future rights arising from related work conducted by or under the direction of Dr. Eduardo Marbán on behalf of CSMC. In the event the parties fail to agree upon the terms of an exclusive license, Capricor shall have a non-exclusive license to such future rights, subject to royalty obligations. Pursuant to the Exosomes License Agreement, CSMC was paid a license fee and Capricor reimbursed CSMC for certain fees and costs incurred in connection with the prosecution of certain patent rights. Additionally, Capricor is required to meet certain non-monetary development milestones and is obligated to pay low single-digit royalties on sales of royalty-bearing products as well as a single-digit percentage of the consideration received from any sublicenses or other grant of rights. The above-mentioned royalties are subject to reduction in the event Capricor becomes obligated to obtain a license from a third party for patent rights in connection with the royalty bearing product. The Exosomes License Agreement will, unless sooner terminated, continue in effect on a country by country basis until the last to expire of the patents covering the patent rights or future patent rights. Under the terms of the Exosomes License Agreement, unless waived by CSMC, the agreement shall automatically terminate: (i) if Capricor ceases, dissolves or winds up its business operations; (ii) in the event of the insolvency or bankruptcy of Capricor or if Capricor makes an assignment for the benefit of its creditors; (iii) if performance by either party jeopardizes the licensure, accreditation or tax exempt status of CSMC or the agreement is deemed illegal by a governmental body; (iv) within 30 days for non-payment of royalties; (v) after 90 days if Capricor fails to undertake commercially reasonable efforts to exploit the patent rights or future patent rights; (vi) if a material breach has not been cured within 90 days; or (vii) if Capricor challenges any of the CSMC patent rights. If Capricor fails to undertake commercially reasonable efforts to exploit the patent rights or future patent rights, and fails to cure that breach after 90 days’ notice from CSMC, instead of terminating the license, CSMC has the option to convert any exclusive license to Capricor to a non-exclusive or co-exclusive license. Capricor may terminate the agreement if CSMC fails to cure any material breach within 90 days after notice. On February 27, 2015, Capricor and CSMC entered into a First Amendment to Exosomes License Agreement (the “First Exosomes License Amendment”). Under the First Exosomes License Amendment, (i) the description of patent rights in Schedule A has been replaced by a Revised Schedule A that includes four additional patent applications; (ii) Capricor was required to pay CSMC an upfront fee of $ 20,000 34,000 15,000 75,000 190,000 On June 10, 2015, Capricor and CSMC entered into a Second Amendment to Exosomes License Agreement, thereby amending the Exosomes License Agreement further to add an additional patent application to the Schedule of Patent Rights. On August 5, 2016, Capricor and CSMC entered into a Third Amendment to the Exosomes License Agreement (the “Third Exosomes License Amendment”), pursuant to which the parties agreed to add certain patent families to the schedule of patent rights under the agreement. Under the Third Exosomes License Amendment, (i) the description of patent rights in Schedule A has been replaced by a Revised Schedule A that includes two additional patent family applications; (ii) Capricor paid CSMC an upfront fee of $ 2,500 16,000 Collaboration Agreement with Janssen Biotech, Inc. On December 27, 2013, Capricor entered into a Collaboration Agreement and Exclusive License Option (the “Janssen Agreement”) with Janssen, a wholly-owned subsidiary of Johnson & Johnson. Under the terms of the Janssen Agreement, Capricor and Janssen agreed to collaborate on the development of Capricor’s cell therapy program for cardiovascular applications, including its lead product candidate, CAP-1002. Capricor and Janssen further agreed to collaborate on the development of cell manufacturing in preparation for future clinical trials. Under the Janssen Agreement, Capricor was paid $ 12.5 On June 30, 2017, Capricor was informed by Janssen that Janssen would not be exercising its exclusive option right to exploit CAP-1002 as well as certain allogeneic cardiospheres and cardiosphere-derived cells in the field of cardiology. Capricor will retain full rights to CAP-1002 in all indications as a result of this decision. Capricor will also have an irrevocable, fully paid-up non-exclusive license under patents controlled by Janssen utilized in the production of the clinical trial materials manufactured pursuant to the CMC development plan between Capricor and Janssen and a non-exclusive perpetual license to publish, disclose and use the information of Janssen that was utilized in the production of the clinical trial materials manufactured pursuant to the CMC development plan. Company Technology – Cenderitide and CU-NP The Company entered into an exclusive license agreement for intellectual property rights related to natriuretic peptides with the Mayo Foundation for Medical Education and Research (“Mayo”), a Clinical Trial Funding Agreement with Medtronic, Inc. (“Medtronic”), and a Transfer Agreement with Medtronic, all of which also include certain intellectual property licensing provisions. Mayo License Agreement The Company and Mayo previously entered into a Technology License Agreement with respect to Cenderitide on January 20, 2006, which was filed as Exhibit 10.6 to the Company’s Current Report on Form 8-K filed with the SEC on September 21, 2007, and which was amended on June 2, 2008 (as so amended, the “CD-NP Agreement”). On June 13, 2008, the Company and Mayo entered into a Technology License Agreement with respect to CU-NP (the “CU-NP Agreement”), which was filed as Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q filed with the SEC on August 14, 2008. On November 14, 2013, the Company entered into an Amended and Restated License Agreement with Mayo (the “Amended Mayo Agreement”). The Amended Mayo Agreement amended and restated in its entirety each of the CD-NP Agreement and the CU-NP Agreement, and created a single amended and restated license agreement between the Company and Mayo with respect to CD-NP and CU-NP. On February 13, 2017, the Company provided Mayo with a notice of termination of the Amended Mayo Agreement pursuant to Section 7.03 of the Amended Mayo Agreement, thereby relinquishing all rights previously licensed by Mayo to Capricor with respect to CD-NP and CU-NP. The Company provided 90 days’ notice of the effectiveness of termination, but Mayo had indicated to the Company that it considered the Amended Mayo Agreement to be terminated as of February 14, 2017 due to an ongoing dispute with Mayo regarding the payment of certain fees incurred in the prosecution of the intellectual property rights licensed by Mayo to the Company, which fees the Company does not deem to be material in amount. The Company elected to terminate the Amended Mayo Agreement so we may focus our resources and efforts on our CAP-1002 and CAP-2003 programs. Medtronic Clinical Trial Funding Agreement In February 2011, the Company entered into a Clinical Trial Funding Agreement with Medtronic. Pursuant to the agreement, Medtronic provided funding and equipment necessary for the Company to conduct a Phase I clinical trial to assess the pharmacokinetics and pharmacodynamics of Cenderitide when delivered to heart failure patients through continuous subcutaneous infusion using Medtronic’s pump technology. The agreement provided that intellectual property conceived in or otherwise resulting from the performance of the Phase I clinical trial will be jointly owned by the Company and Medtronic (the “Joint Intellectual Property”), and that the Company is to pay royalties to Medtronic based on the net sales of a product covered by the Joint Intellectual Property. The agreement further provided that, if the parties fail to enter into a definitive commercial license agreement with respect to Cenderitide, each party will have a right of first negotiation to license exclusive rights to any Joint Intellectual Property. Pursuant to its terms, the agreement expired in February 2012, following the completion of the Phase I clinical trial and the delivery of data and reports related to such study. Although the Medtronic agreement expired, there are certain provisions that survive the expiration of the agreement, including the obligation to pay royalties on products that might be covered by the Joint Intellectual Property. The Company and Medtronic subsequently entered into a Transfer Agreement, described below. Medtronic Transfer Agreement On October 8, 2014, the Company entered into a Transfer Agreement (the “Transfer Agreement”) with Medtronic to acquire patent rights relating to the formulation and pump delivery of natriuretic peptides. Pursuant to the Transfer Agreement, Medtronic assigned to the Company all of its right, title and interest in all natriuretic peptide patents and patent applications previously owned by Medtronic or co-owned by Medtronic and the Company (the “Natriuretic Peptide Patents”). Under the Transfer Agreement, the Company received all rights to the Natriuretic Peptide Patents, including the right to grant licenses and to make assignments without approval from Medtronic. The Transfer Agreement became effective on October 8, 2014 and will expire simultaneously with the expiration of the last to expire of the valid claims. Both parties have the right to terminate the Transfer Agreement upon 30 days’ written notice to the other party in the event of a default which has not been cured within such 30-day period. In addition, Medtronic had the right to terminate the Transfer Agreement and to have the rights to the Natriuretic Peptide Patents reassigned to it by the Company if either the Company, an affiliate, or a non-party licensee failed to commence a clinical trial of a CD-NP product within 18 months from the effective date. Such condition was satisfied when the Company initiated its clinical trial of Cenderitide in January 2015. In the event of a termination of the Transfer Agreement, (i) the Natriuretic Peptide Patents which were not owned or co-owned by the Company prior to the effective date of the Transfer Agreement shall be assigned back to Medtronic; (ii) the Company’s rights in the Natriuretic Peptide Patents that were co-owned by Capricor pursuant to the Clinical Trial Funding Agreement will remain with the Company, subject to the surviving terms and provisions thereof; and (iii) the Company shall assign back to Medtronic those rights that were co-owned by Medtronic pursuant to the Clinical Trial Funding Agreement. Pursuant to the Transfer Agreement, Medtronic was paid an upfront payment of $ 100,000 7.0 In light of our decision to terminate our development program with respect to natriuretic peptides, the Company is now considering whether or not to cease prosecution of some or all of the Natriuretic Peptide Patents and has offered to reassign to Medtronic rights to certain patent applications obtained through the Transfer Agreement.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	9. RELATED PARTY TRANSACTIONS Lease and Sub-Lease Agreements As noted above, Capricor is a party to lease agreements with CSMC, which holds more than 10% of the outstanding capital stock of Capricor Therapeutics (see Note 7 – “Commitments and Contingencies”), and CSMC has served and continues to serve as an investigative site in Capricor’s clinical trials. Additionally, Dr. Eduardo Marbán, who holds more than 10% of the outstanding capital stock of Capricor Therapeutics and participates as an observer at the Company’s meetings of the Board of Directors, is the Director of the Cedars-Sinai Heart Institute, a Co-Founder of Capricor and the Chairman of the Company’s Scientific Advisory Board. On April 1, 2013, Capricor entered into a sublease with Reprise Technologies, LLC, a limited liability company which is wholly owned by Dr. Frank Litvack, the Company’s Executive Chairman and member of its Board of Directors, for $ 2,500 7,500 Consulting Agreements Effective January 1, 2013, Frank Litvack, the Company’s Executive Chairman and a member of its Board of Directors, entered into an oral Consulting Agreement with Capricor whereby Capricor agreed to pay Dr. Litvack fees of $10,000 per month for consulting services. On March 24, 2014, Capricor entered into a written Consulting Agreement with Dr. Litvack memorializing the $10,000 per month compensation arrangement described above. The agreement is terminable upon 30 days’ notice. Additionally, in 2016, Capricor retained the services of Lit Digital Media, LLC whose sole member is Harry Litvack, the son of Frank Litvack. Lit Digital Media provides services to the Company related to social media and public relations, and the Company pays Lit Digital Media approximately $ 1,500 Payables to Related Party At June 30, 2017 and December 31, 2016, the Company had accounts payable and accrued expenses to related parties totaling $ 311,190 489,217 311,058 477,907 Related Party Clinical Trials Capricor has agreed to provide cells for investigational purposes in two clinical trials sponsored by CSMC, subject to final documentation. The first trial is known as “Regression of Fibrosis and Reversal of Diastolic Dysfunction in HFpEF Patients Treated with Allogeneic CDCs.” Dr. Eduardo Marbán is the named principal investigator under the study. The second trial is known as “Pulmonary Arterial Hypertension treated with Cardiosphere-derived Allogeneic Stem Cells.” In both studies, Capricor will provide the necessary number of doses of cells and will receive a negotiated amount of monetary compensation therefor.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Events [Text Block]	10. SUBSEQUENT EVENTS Common Stock Sales Agreement As of the date of filing of this quarterly report on Form 10-Q, the Company has sold an aggregate of 900,939 1.45 1.3 3 39,200 Cedars Facilities Lease Amendment On August 10, 2017, the Company and CSMC entered into the First Amendment to the Facilities Lease effective August 1, 2017 pursuant to which the term of the facilities lease has been extended for an additional 12-month period, and the Company was granted an option to further extend the term for an additional 12-month period thereafter. Under the First Amendment, the total monthly rent increased from approximately $ 19,350 19,756 Amendment to CIRM Award On August 8, 2017, we entered into an Amendment to the CIRM Notice of Award pursuant to which CIRM approved the Company’s request to use the remaining estimated project funds of the CIRM Award for technology transfer activities in support of the manufacture of CAP-1002 to a designated contract manufacturing organization, or CMO, which will enable Capricor to offer access to CAP-1002 to patients from the control arm of the ongoing study (HOPE) via an open-label extension protocol, subject to regulatory approval.

ORGANIZATION AND SUMMARY OF S17

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Description Of Business [Policy Text Block]	Description of Business The mission of Capricor Therapeutics, Inc., a Delaware corporation (referred to herein as “Capricor Therapeutics” or the “Company”), is to develop therapies for the treatment of diseases based upon the Company’s proprietary cell-based and exosome-based technology. Capricor, Inc. (“Capricor”), a wholly-owned subsidiary of Capricor Therapeutics, was founded in 2005 as a Delaware corporation based on the innovative work of its founder, Eduardo Marbán, M.D., Ph.D. After completion of a merger between Capricor and a subsidiary of Nile Therapeutics, Inc., a Delaware corporation (“Nile”), on November 20, 2013, Capricor became a wholly-owned subsidiary of Nile and Nile formally changed its name to Capricor Therapeutics, Inc. Capricor Therapeutics and its subsidiary, Capricor, together have four drug candidates, two of which are in various stages of active development.
Basis of Presentation and Significant Accounting Policies [Policy Text Block]	Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements for Capricor Therapeutics and its wholly-owned subsidiary have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and with the instructions to Form 10-Q and, therefore, do not include all disclosures necessary for a complete presentation of financial position, results of operations and cash flows in conformity with U.S. GAAP. In the Company’s opinion, all adjustments, consisting of normal and recurring adjustments, considered necessary for a fair presentation have been included. The accompanying financial information should be read in conjunction with the financial statements and the notes thereto in the Company’s most recent Annual Report on Form 10-K, as filed with the Securities and Exchange Commission (“SEC”) on March 16, 2017, from which the December 31, 2016 consolidated balance sheet has been derived. Interim results are not necessarily indicative of the results that may be expected for the year ending December 31, 2017.
Consolidation, Policy [Policy Text Block]	Basis of Consolidation Our condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All intercompany transactions have been eliminated in consolidation.
Liquidity [Policy Text Block]	The Company has historically financed its research and development activities as well as operational expenses from equity financings, Federal government grants, a payment from Janssen Biotech, Inc. (“Janssen”) pursuant to a Collaboration Agreement with Janssen and a loan award and a grant from the California Institute for Regenerative Medicine (“CIRM”). Cash, cash equivalents and marketable securities as of June 30, 2017 were approximately $ 12.3 16.2 0.001 5.0 900,939 1.45 1.3 The Company has been awarded various grant and loan awards which fund, in part, various pre-clinical and clinical activities (see Note 2 – “Loan Payable” and Note 6 – “Government Grant Awards”). The Company has up to approximately $ 6.3 The Company’s principal uses of cash are for research and development expenses, general and administrative expenses, capital expenditures and other working capital requirements. The Company’s future expenditures and capital requirements may be substantial and will depend on many factors, including, but not limited to, the following: ⋅ the timing and costs associated with its clinical trials and preclinical studies; ⋅ the timing and costs associated with the manufacturing of its product candidates; ⋅ the timing and costs associated with commercialization of its product candidates; ⋅ the number and scope of its research programs; and ⋅ the costs involved in prosecuting and enforcing patent claims and other intellectual property rights. The Company has implemented certain budget reductions starting in the end of the second quarter ending June 30, 2017. The
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements. Estimates also affect the reported amounts of revenues and expenses during the reporting period. The most sensitive estimates relate to recoverability and fair value of intangible assets and the assumptions used to estimate stock-based compensation expense. Management uses its historical records and knowledge of its business in making these estimates. Accordingly, actual results may differ from these estimates.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash, Cash Equivalents, and Restricted Cash The Company considers all highly liquid investments with a maturity of three months or less at the date of purchase to be cash equivalents. June 30, June 30, 2017 2016 Cash and cash equivalents $ 8,260,897 $ 8,851,129 Restricted cash 828,569 - Total cash, cash equivalents, and restricted cash shown in the statements of cash flows $ 9,089,466 $ 8,851,129 The Company has two awards with CIRM designated for specific use, a Loan Agreement with CIRM (the “CIRM Loan Agreement”) entered into on February 5, 2013 (see Note 2 – “Loan Payable”) in connection with the ALLSTAR Phase II clinical trial and the CIRM Award (see Note 6 – “Government Grant Awards”) related to the HOPE Phase I/II clinical trial. Restricted cash represents funds received under these awards which are to be allocated to the research costs as incurred. Generally, a reduction of restricted cash occurs when the Company deems certain costs are attributable to the respective award. The restricted cash balance was approximately $ 0.8 1.3
Marketable Securities, Available-for-sale Securities, Policy [Policy Text Block]	Marketable Securities The Company determines the appropriate classification of its marketable securities at the time of purchase and reevaluates such designation at each balance sheet date. All of the Company’s marketable securities are considered as available-for-sale and carried at estimated fair values. Realized gains and losses on the sale of debt and equity securities are determined using the specific identification method. Unrealized gains and losses on available-for-sale securities are excluded from net income and reported in accumulated other comprehensive income (loss) as a separate component of stockholders’ equity.
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment Property and equipment are stated at cost. Repairs and maintenance costs are expensed in the period incurred. Depreciation is computed using the straight-line method over the related estimated useful life of the asset, which such estimated useful lives range from five to seven years. Leasehold improvements are depreciated on a straight-line basis over the shorter of the useful life of the asset or the lease term. Depreciation was approximately $ 51,681 40,722 June 30, December 31, 2017 2016 Furniture and fixtures $ 46,709 $ 51,161 Laboratory equipment 603,646 587,809 Leasehold improvements 47,043 47,043 697,398 686,013 Less accumulated depreciation (298,363) (250,677) Property and equipment, net $ 399,035 $ 435,336
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]	Intangible Assets Amounts attributable to intellectual property consist primarily of the costs associated with the acquisition of certain technologies, patents, pending patents and related intangible assets with respect to research and development activities. Certain intellectual property assets are stated at cost and are amortized on a straight-line basis over the respective estimated useful lives of the assets ranging from five to fifteen years. Also, the Company recorded capitalized loan fees as a component of intangible assets on the consolidated balance sheet (see Note 2 – “Loan Payable”). Total amortization expense was approximately $ 24,375 Years ended Amortization Expense 2017 (6 months) $ 24,375 2018 43,733 2019 43,276 2020 4,330 2021 2,165 As a result of the merger in 2013 between Capricor and Nile, the Company recorded $1.5 million as in-process research and development in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 805, Business Combinations 1.5
Government Research Grants [Policy Text Block]	Government Research Grants Generally, government research grants that provide funding for research and development activities are recognized as income when the related expenses are incurred, as applicable. Because the terms of the CIRM Award allow Capricor to elect to convert the grant into a loan at the end of the project period, the CIRM Award is being classified as a liability rather than income (see Note 6 - “Government Grant Awards”).
Income from Collaborative Agreement [Policy Text Block]	Income from Collaboration Agreement Revenue from nonrefundable, up-front license or technology access payments under license and collaborative arrangements that are not dependent on any future performance by the Company is recognized when such amounts are earned. If the Company has continuing obligations to perform under the arrangement, such fees are recognized over the estimated period of the continuing performance obligation. The Company accounts for multiple element arrangements, such as license and development agreements in which a customer may purchase several deliverables, in accordance with FASB ASC Subtopic 605-25, Multiple Element Arrangements The Company determined that the deliverables under its Collaboration Agreement with Janssen (see Note 8 – “License Agreements”) did not meet the criteria to be considered separate accounting units for the purposes of revenue recognition. As a result, the Company recognizes revenue from non-refundable, upfront fees ratably over the term of its performance under the agreement with Janssen. The upfront payments received, pending recognition as revenue, are recorded as deferred revenue and are classified as a short-term or long-term liability on the consolidated balance sheets of the Company and amortized over the estimated period of performance. The Company periodically reviews the estimated performance period of its contract based on the estimated progress of its project. As of June 30, 2017, the full amount of income has been recognized under the Janssen Agreement.
Loan Payable [Policy Text Block]	Loan Payable The Company accounts for the funds advanced under the CIRM Loan Agreement (see Note 2 – “Loan Payable”) as a loan payable as the eventual repayment of the loan proceeds or forgiveness of the loan is contingent upon certain future milestones being met and other conditions. As the likelihood of whether or not the Company will ever achieve these milestones or satisfy these conditions cannot be reasonably predicted at this time, the Company records these amounts as a loan payable.
Lessor, Leases [Policy Text Block]	Rent Rent expense for the Company’s leases, which generally have escalating rental amounts over the term of the lease, is recorded on a straight-line basis over the lease term. The difference between the rent expense and rent paid has been recorded as deferred rent in the consolidated balance sheet under accounts payable and accrued expenses and accounts payable and accrued expenses, related party, as applicable. Rent is amortized on a straight-line basis over the term of the applicable lease, without consideration of renewal options.
Research and Development Expense, Policy [Policy Text Block]	Research and Development Costs relating to the design and development of new products are expensed as research and development as incurred in accordance with FASB ASC 730-10, Research and Development 3.1 4.3 6.4 8.6
Comprehensive Income loss [Policy Text Block]	Comprehensive Income (Loss) Comprehensive income (loss) generally represents all changes in stockholders’ equity during the period except those resulting from investments by, or distributions to, stockholders. The Company’s comprehensive loss was approximately $ 3.5 4.7 7.1 9.0 (2,394) 1,551 3,793 (4,607)
Compensation Related Costs, Policy [Policy Text Block]	Stock-Based Compensation The Company accounts for stock-based employee compensation arrangements in accordance with guidance issued by the FASB, which requires the measurement and recognition of compensation expense for all share-based payment awards made to employees, consultants, and directors based on estimated fair values. The Company estimates the fair value of stock-based compensation awards on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as an expense over the requisite service periods in the Company’s statements of operations. The Company estimates the fair value of stock-based compensation awards using the Black-Scholes model. This model requires the Company to estimate the expected volatility and value of its common stock and the expected term of the stock options, all of which are highly complex and subjective variables. The variables take into consideration, among other things, actual and projected stock option exercise behavior. For employees and directors, the expected life was calculated based on the simplified method as described by the SEC Staff Accounting Bulletin No. 110, Share-Based Payment. For other service providers, the expected life was calculated using the contractual term of the award. The Company's estimate of expected volatility was based on the historical stock price of the Company. The Company has selected a risk-free rate based on the implied yield available on U.S. Treasury securities with a maturity equivalent to the expected term of the options.
Earnings Per Share, Policy [Policy Text Block]	Basic and Diluted Loss per Share Basic loss per share is computed using the weighted-average number of common shares outstanding during the period. Diluted loss per share is computed using the weighted-average number of common shares and dilutive potential common shares outstanding during the period. Dilutive potential common shares, which primarily consist of stock options issued to employees, consultants and directors as well as warrants issued to third parties, have been excluded from the diluted loss per share calculation because their effect is anti-dilutive. For the three months ended June 30, 2017 and 2016, warrants and options to purchase 8,177,295 7,732,632 8,177,295 7,732,632
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements Assets and liabilities recorded at fair value in the balance sheet are categorized based upon the level of judgment associated with the inputs used to measure their fair value. The categories are as follows: Level Input: Input Definition: Level I Inputs are unadjusted, quoted prices for identical assets or liabilities in active markets at the measurement date. Level II Inputs, other than quoted prices included in Level I, that are observable for the asset or liability through corroboration with market data at the measurement date. Level III Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. June 30, 2017 Level I Level II Level III Total Marketable securities $ 3,998,520 $ - $ - $ 3,998,520 December 31, 2016 Level I Level II Level III Total Marketable securities $ 12,990,510 $ - $ - $ 12,990,510 Carrying amounts reported in the balance sheet of cash and cash equivalents, grants receivable, accounts payable and accrued expenses approximate fair value due to their relatively short maturity. The carrying amounts of the Company’s marketable securities are based on market quotations from national exchanges at the balance sheet date. Interest and dividend income are recognized separately on the income statement based on classifications provided by the brokerage firm holding the investments. The fair value of borrowings is not considered to be significantly different from its carrying amount because the stated rates for such debt reflect current market rates and conditions.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern (Topic 915): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern Consolidation (Topic 810): Amendments to the Consolidation Analysis . In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs . Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of Credit Arrangements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , Leases (Topic 840) In March 2016, the FASB issued ASU 2016-09, Compensation — Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the SEC, did not or are not believed by management to have a material impact on the Company’s present or future condensed consolidated financial statement presentation or disclosures. For a more detailed listing of the Company’s significant accounting policies, see Note 1 – “Organization and Summary of Significant Accounting Policies,” of the notes to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, as filed with the SEC on March 16, 2017.

ORGANIZATION AND SUMMARY OF S18

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Schedule Of Cash And Cash Equivalents And Restricted Cash [Table Text Block]	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that total the same such amounts shown in the statement of cash flows. June 30, June 30, 2017 2016 Cash and cash equivalents $ 8,260,897 $ 8,851,129 Restricted cash 828,569 - Total cash, cash equivalents, and restricted cash shown in the statements of cash flows $ 9,089,466 $ 8,851,129
Property, Plant and Equipment [Table Text Block]	Property and equipment consisted of the following as of June 30, 2017 and December 31, 2016: June 30, December 31, 2017 2016 Furniture and fixtures $ 46,709 $ 51,161 Laboratory equipment 603,646 587,809 Leasehold improvements 47,043 47,043 697,398 686,013 Less accumulated depreciation (298,363) (250,677) Property and equipment, net $ 399,035 $ 435,336
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	A summary of future amortization expense as of June 30, 2017 is as follows: Years ended Amortization Expense 2017 (6 months) $ 24,375 2018 43,733 2019 43,276 2020 4,330 2021 2,165
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	The following table summarizes fair value measurements by level at June 30, 2017 and December 31, 2016 for assets and liabilities measured at fair value on a recurring basis: June 30, 2017 Level I Level II Level III Total Marketable securities $ 3,998,520 $ - $ - $ 3,998,520 December 31, 2016 Level I Level II Level III Total Marketable securities $ 12,990,510 $ - $ - $ 12,990,510

STOCK AWARDS, WARRANTS AND OP19

STOCK AWARDS, WARRANTS AND OPTIONS (Tables)	6 Months Ended
	Jun. 30, 2017
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Employee and non-employee stock-based compensation expense for the three and six months ended June 30, 2017 and 2016 was as follows: Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 General and administrative $ 298,570 $ 471,761 $ 599,792 $ 691,085 Research and development 99,519 182,264 270,088 253,526 Total $ 398,089 $ 654,025 $ 869,880 $ 944,611
Warrant
Schedule Of Warrant Activity [Table Text Block]	The following table summarizes all warrant activity for the period ended June 30, 2017: Warrants Weighted Average Exercise Price Outstanding at January 1, 2017 1,081,903 $ 4.01 Granted - - Exercised - - Expired (187) 2.27 Outstanding at June 30, 2017 1,081,716 $ 4.01
Schedule of Stockholders Equity Note, Warrants or Rights [Table Text Block]	The following table summarizes all outstanding warrants to purchase shares of the Company’s common stock as of June 30, 2017: At June 30, 2017 Grant Date Warrants Outstanding Exercise Price Expiration Date 11/20/2013 235,643 $ 2.27 11/20/2018 3/16/2016 846,073 $ 4.50 3/16/2019 1,081,716
Stock Options
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	The Company estimates the fair value of each option award using the Black-Scholes option-pricing model. The Company used the following assumptions to estimate the fair value of stock options issued during the six months ended June 30, 2017 and 2016: June 30, 2017 June 30, 2016 Expected volatility 78% - 132% 79% - 80% Expected term 5 – 10 years 5 - 7 years Dividend yield 0% 0% Risk-free interest rates 2.0% - 2.3% 0.5% - 1.7%
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	The following is a schedule summarizing employee and non-employee stock option activity for the six months ended June 30, 2017: Weighted Number of Average Aggregate Options Exercise Price Intrinsic Value Outstanding at January 1, 2017 6,608,382 $ 1.62 $ - Granted 617,131 2.60 Exercised - - Expired/Cancelled (129,934) 3.92 Outstanding at June 30, 2017 7,095,579 $ 1.66 $ - Exercisable at June 30, 2017 5,620,242 $ 1.19 $ -

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Unless renewed, each of the leases described above will not be in effect for fiscal year 2019. A summary of future minimum rental payments required under operating leases as of June 30, 2017 is as follows: Years ended Operating Leases 2017 (6 months) $ 143,490 2018 292,722 Total minimum lease payments $ 436,212

ORGANIZATION AND SUMMARY OF S21

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Cash and cash equivalents	$ 8,260,897	$ 3,204,378	$ 8,851,129
Restricted cash	828,569	$ 1,347,225	0
Total cash, cash equivalents, and restricted cash shown in the statements of cash flows	$ 9,089,466		$ 8,851,129

ORGANIZATION AND SUMMARY OF S22

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Property, Plant and Equipment, Gross	$ 697,398	$ 686,013
Less accumulated depreciation	(298,363)	(250,677)
Property and equipment, net	399,035	435,336
Furniture and fixtures [Member]
Property, Plant and Equipment, Gross	46,709	51,161
Laboratory equipment [Member]
Property, Plant and Equipment, Gross	603,646	587,809
Leasehold improvements [Member]
Property, Plant and Equipment, Gross	$ 47,043	$ 47,043

ORGANIZATION AND SUMMARY OF S23

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2)	Jun. 30, 2017USD ($)
Finite-Lived Intangible Assets [Line Items]
2017 (6 months)	$ 24,375
2,018	43,733
2,019	43,276
2,020	4,330
2,021	$ 2,165

ORGANIZATION AND SUMMARY OF S24

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 3,998,520	$ 12,990,510
Level 1[Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	3,998,520	12,990,510
Level 2[Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 3[Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 0	$ 0

ORGANIZATION AND SUMMARY OF S25

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($)	Aug. 11, 2017	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016	Mar. 31, 2017
Accounting Policies [Line Items]
Common Stock, Par or Stated Value Per Share		$ 0.001		$ 0.001		$ 0.001
Research and Development Expense, Total		$ 3,128,182	$ 4,307,948	$ 6,385,331	$ 8,649,067
Cash, Cash Equivalents, and Marketable Securities		$ 12,300,000		$ 12,300,000		$ 16,200,000
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		8,177,295	7,732,632	8,177,295	7,732,632
Comprehensive Income (Loss), Net of Tax, Attributable to Parent		$ (3,474,531)	$ (4,687,297)	$ (7,134,963)	$ (8,959,795)
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax		(2,394)	$ 1,551	3,793	(4,607)
Amortization of Intangible Assets				24,375	24,375
Depreciation				51,681	40,722
Restricted Cash and Cash Equivalents		800,000		800,000		1,300,000
Impairment of Intangible Assets (Excluding Goodwill)						$ 1,500,000
Proceeds from Issuance of Common Stock				3,681,861	$ 3,929,795
Share-based Compensation Arrangement by Share-based Payment Award, Available for Grant		$ 6,300,000		$ 6,300,000
ATM Program [Member]
Accounting Policies [Line Items]
Common Stock, Par or Stated Value Per Share		$ 0.001		$ 0.001
Common Stock Sales Agreement, Maximum Amount To Be Issued		$ 5,000,000		$ 5,000,000			$ 5,000,000
Subsequent Event [Member] | ATM Program [Member]
Accounting Policies [Line Items]
Stock Issued During Period, Shares, New Issues	900,939
Shares Issued, Price Per Share	$ 1.45
Proceeds from Issuance of Common Stock	$ 1,300,000

LOAN PAYABLE (Details Textual)

LOAN PAYABLE (Details Textual) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016	Dec. 31, 2014	Dec. 31, 2013
LOAN PAYABLE [Line Items]
Deferred Finance Costs, Noncurrent, Net	$ 30,000		$ 30,000
Proceeds from loan payable			250,000	$ 3,000,000
Interest expense	105,527	$ 76,887	210,847	143,011
Long Term Loans Payable	0		0		$ 13,905,857
Proceeds from Issuance of Long-term Debt, Total			$ 250,000	$ 3,000,000
Minimum [Member]
LOAN PAYABLE [Line Items]
Amount Available Under Loan Agreement, Expected Borrowing Percentage			70.00%
Maximum [Member]
LOAN PAYABLE [Line Items]
Amount Available Under Loan Agreement, Expected Borrowing Percentage			75.00%
CIRM Loan Agreement [Member]
LOAN PAYABLE [Line Items]
Maximum Payback Percentage of Loan Amount to be Paid upon Achievement of Certain Revenue Thresholds			500.00%
Base Rate for Computation of Interest Rate			2.00%
Increase In Base Rate after Fifth Year for Computation of Interest Rate			1.00%
Maximum Increase In Base Rate in Tenth Year for Computation of Interest Rate			5.00%
Deferred Finance Costs, Noncurrent, Net	$ 3,192		$ 3,192
Proceeds from loan payable			$ 250,000		4,750,000	$ 5,194,124	$ 3,925,066
Debt Instrument, Interest Rate, Effective Percentage	3.70%		3.70%			2.60%
Amount Awarded Under Loan Agreement	$ 19,782,136		$ 19,782,136
Long Term Loans Payable	$ 14,155,857		14,155,857		13,905,857
Proceeds from Issuance of Long-term Debt, Total			$ 250,000		$ 4,750,000	$ 5,194,124	$ 3,925,066
CIRM Loan Agreement [Member] | Minimum [Member]
LOAN PAYABLE [Line Items]
Debt Instrument, Interest Rate, Effective Percentage					3.20%		2.50%
CIRM Loan Agreement [Member] | Maximum [Member]
LOAN PAYABLE [Line Items]
Debt Instrument, Interest Rate, Effective Percentage					3.40%		2.80%

STOCKHOLDERS' EQUITY (Details T

STOCKHOLDERS' EQUITY (Details Textual) - USD ($)	Aug. 11, 2017	May 05, 2017	Mar. 31, 2017	Sep. 30, 2016	Mar. 16, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Class of Stock [Line Items]
Common Stock, par value (in dollars per share)						$ 0.001		$ 0.001
Common Stock Shares Issued						22,595,310		21,399,019
Stock Issued During Period, Value, New Issues						$ 3,681,861
Proceeds from Issuance of Common Stock						$ 3,681,861	$ 3,929,795
Warrant Redemption Fees Per Share					$ 0.001
Warrant Redemption Weighted Average Common Stock Per Share Threshold Limit					$ 7.50
Liquidity Damage Obligation Description		The Company will be required to pay to each Investor liquidated damages equal to 1.0% of the aggregate purchase price paid by such Investor pursuant to the Subscription Agreements for the shares per month (up to a cap of 10.0%) if it does not meet certain obligations with respect to the registration of the shares, subject to certain conditions.
Investors [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues					1,692,151
Stock Issued During Period, Value, New Issues					$ 4,060,000
Shares Issued, Price Per Share					$ 2.40
Class of Warrant or Right, Number of Securities Called by Warrants or Rights					846,073
Class of Warrant or Right, Exercise Price of Warrants or Rights					$ 4.50
Proceeds from Issuance of Common Stock					$ 3,900,000
Private Placement [Member]
Class of Stock [Line Items]
Payments of Stock Issuance Costs					$ 100,000
Underwritten Public and Registered Direct Offering [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues				3,403,125
Sale of Stock, Price Per Share				$ 3.20
Stock Issued During Period, Value, New Issues				$ 10,890,000
Payments of Stock Issuance Costs				1,000,000
Proceeds from Issuance of Common Stock				$ 9,900,000
ATM Program [Member]
Class of Stock [Line Items]
Common Stock, par value (in dollars per share)						$ 0.001
Common Stock Sales Agreement, Maximum Amount To Be Issued			$ 5,000,000			$ 5,000,000
Commission Rate On Sale Price Per Share			3.00%
ATM Program [Member] | Subsequent Event [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues	900,939
Sale of Stock, Price Per Share	$ 1.45
Payments of Stock Issuance Costs	$ 39,200
Shares Issued, Price Per Share	$ 1.45
Proceeds from Issuance of Common Stock	$ 1,300,000
Commission Rate On Sale Price Per Share	3.00%
Subscription Arrangement [Member]
Class of Stock [Line Items]
Common Stock, par value (in dollars per share)		$ 0.001
Stock Issued During Period, Shares, New Issues		1,196,291
Sale of Stock, Price Per Share		$ 3.10
Stock Issued During Period, Value, New Issues		$ 3,700,000

STOCK AWARDS, WARRANTS AND OP28

STOCK AWARDS, WARRANTS AND OPTIONS (Details)	6 Months Ended
	Jun. 30, 2017$ / sharesshares
Class of Warrant or Right [Line Items]
Warrants Outstanding at Beginning | shares	1,081,903
Warrants Granted | shares	0
Warrants Exercised | shares	0
Warrants Expired | shares	(187)
Warrants Outstanding at Ending | shares	1,081,716
Weighted Average Exercise Price Outstanding at Beginning | $ / shares	$ 4.01
Weighted Average Exercise Price Granted | $ / shares	0
Weighted Average Exercise Price Exercised | $ / shares	0
Weighted Average Exercise Price Expired | $ / shares	2.27
Weighted Average Exercise Price Outstanding at Ending | $ / shares	$ 4.01

STOCK AWARDS, WARRANTS AND OP29

STOCK AWARDS, WARRANTS AND OPTIONS (Details 1) - $ / shares	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Class of Warrant or Right [Line Items]
Warrants Outstanding	1,081,716	1,081,903
Period Issuance one [Member]
Class of Warrant or Right [Line Items]
Grant Date	Nov. 20, 2013
Warrants Outstanding	235,643
Weighted Average Exercise Price	$ 2.27
Expiration Date	Nov. 20, 2018
Period Issuance two [Member]
Class of Warrant or Right [Line Items]
Grant Date	Mar. 16, 2016
Warrants Outstanding	846,073
Weighted Average Exercise Price	$ 4.50
Expiration Date	Mar. 16, 2019

STOCK AWARDS, WARRANTS AND OP30

STOCK AWARDS, WARRANTS AND OPTIONS (Details 2)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend yield	0.00%	0.00%
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	132.00%	80.00%
Expected term	10 years	7 years
Risk-free interest rates	2.30%	1.70%
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	78.00%	79.00%
Expected term	5 years	5 years
Risk-free interest rates	2.00%	0.50%

STOCK AWARDS, WARRANTS AND OP31

STOCK AWARDS, WARRANTS AND OPTIONS (Details 3) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation cost	$ 398,089	$ 654,025	$ 869,880	$ 944,611
General and adminstrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation cost	298,570	471,761	599,792	691,085
Research and development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation cost	$ 99,519	$ 182,264	$ 270,088	$ 253,526

STOCK AWARDS, WARRANTS AND OP32

STOCK AWARDS, WARRANTS AND OPTIONS (Details 4) - Stock Option [Member]	6 Months Ended
	Jun. 30, 2017USD ($)$ / sharesshares
Number of Options
Outstanding at Beginning of the period | shares	6,608,382
Granted | shares	617,131
Exercised | shares	0
Expired/Cancelled | shares	(129,934)
Outstanding at Ending of the period | shares	7,095,579
Exercisable | shares	5,620,242
Weighted Average Exercise Price
Outstanding at Beginning of the period | $ / shares	$ 1.62
Granted | $ / shares	2.6
Exercised | $ / shares	0
Expired/Cancelled | $ / shares	3.92
Outstanding at Ending of the period | $ / shares	1.66
Exercisable | $ / shares	$ 1.19
Aggregate Intrinsic Value
Outstanding at Beginning of the period | $	$ 0
Outstanding at Ending of the period | $	0
Exercisable | $	$ 0

STOCK AWARDS, WARRANTS AND OP33

STOCK AWARDS, WARRANTS AND OPTIONS (Details Textual) - USD ($)	Jun. 02, 2016	Jan. 31, 2017	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Disclosure Stockholders Equity, stock Options And Warrants Additional Information [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 2.81	$ 2.15	$ 1.78	$ 2
Stock Option Plan 2012 [Member]
Disclosure Stockholders Equity, stock Options And Warrants Additional Information [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized		427,980					325,099
Share-based Compensation Arrangement By Share-based Payment Award, Percentage Of Annual Increase In Number Of Shares Authorized	2.00%				2.00%
Non-Employee Director Plan 2012 [Member]
Disclosure Stockholders Equity, stock Options And Warrants Additional Information [Line Items]
Amount Authorized in Plans After Merger			2,697,311		2,697,311
Employee Stock Option [Member] | Stock Option Plan 2012 [Member]
Disclosure Stockholders Equity, stock Options And Warrants Additional Information [Line Items]
Amount Authorized in Plans After Merger			4,149,710		4,149,710
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant							4,474,809
Incentive Stock Option [Member] | Stock Option Plan 2012 [Member]
Disclosure Stockholders Equity, stock Options And Warrants Additional Information [Line Items]
Minimum Limit Of Fair Market Value To Be Treated As Non-Statutory Stock					$ 100,000

CONCENTRATIONS (Details Textual

CONCENTRATIONS (Details Textual)	Jun. 30, 2017USD ($)
Concentration Risk [Line Items]
Cash, Uninsured Amount	$ 12,700,000
Financial Institution One [Member]
Concentration Risk [Line Items]
Cash, FDIC Insured Amount	$ 250,000

GOVERNMENT GRANT AWARDS (Detail

GOVERNMENT GRANT AWARDS (Details Textual) - USD ($)	1 Months Ended	6 Months Ended
	Jul. 31, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016	Nov. 30, 2016	Sep. 30, 2016	Jun. 16, 2016	Aug. 31, 2013
Disbursement Amount Under Grant Award					$ 1,100,000
Proceeds from Issuance of Long-term Debt, Total		$ 250,000	$ 3,000,000
Restricted Cash and Cash Equivalents		800,000		$ 1,300,000
California Institute for Regenerative Medicine [Member]
Approved For Grant Award							$ 3,400,000
Grant Award Liability		3,100,000
Minimum Expected Contribution		2,300,000
Proceeds from Issuance of Long-term Debt, Total	$ 2,000,000
Restricted Cash and Cash Equivalents		800,000
NIH Grant Award DYNAMIC [Member]
Approved For Grant Award								$ 2,900,000
NIH Grant Award HLHS [Member]
Maximum Amount Approved for Grant Award						$ 4,200,000
Cost Incurred Under Award		200,000
U.S. Department of Defense Grant Award [Member]
Approved For Grant Award						$ 2,400,000
Cost Incurred Under Award		$ 600,000

COMMITMENTS AND CONTINGENCIES36

COMMITMENTS AND CONTINGENCIES (Details)	Jun. 30, 2017USD ($)
Other Commitments [Line Items]
2017 (6 months)	$ 143,490
2,018	292,722
Total minimum lease payments	$ 436,212

COMMITMENTS AND CONTINGENCIES37

COMMITMENTS AND CONTINGENCIES (Details Textual) - USD ($)	Feb. 02, 2015	Jul. 31, 2015	Mar. 31, 2015	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Jun. 01, 2014
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense, Net	$ 17,957
Monthly Lease Payment First Twelve Month [Member]
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense, Net						$ 16,620
Operating Leases, Rent Expense, Contingent Rentals						22,995
Monthly Lease Payment Second Twelve Month [Member]
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense, Net						17,285
Operating Leases, Rent Expense, Contingent Rentals						23,915
Monthly lease payment Remainder lease payment [Member]
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense, Contingent Rentals						24,872
Unrealated Party [Member]
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense				$ 71,215	$ 65,088	142,430	$ 130,176
Related party [Member]
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense				$ 56,754	$ 56,105	$ 112,859	$ 112,211
Per Month [Member]
Commitments and Contingencies Disclosure [Line Items]
Leases Monthly Payments for First Six Months								$ 15,461
Leases Monthly Payments for Remainder								$ 19,350
Operating Leases, Rent Expense, Net			$ 21,420
Operating Leases, Rent Expense, Contingent Rentals		$ 22,111

LICENSE AGREEMENTS (Details Tex

LICENSE AGREEMENTS (Details Textual)	Aug. 05, 2016USD ($)	Oct. 08, 2014USD ($)	Feb. 27, 2015USD ($)	Dec. 27, 2013USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2017EUR (€)
LICENSE AGREEMENTS [Line Items]
Payments for Royalties | €						€ 20,000
CSMC [Member]
LICENSE AGREEMENTS [Line Items]
Upfront Payment	$ 2,500
Reimbursed Expenses to be Paid	16,000
Medtronic [Member]
LICENSE AGREEMENTS [Line Items]
Upfront Payment		$ 100,000
Additional Milestone Payable Maximum Amount		$ 7,000,000
Exosomes License Agreement [Member]
LICENSE AGREEMENTS [Line Items]
Upfront Payment			$ 20,000
Additional Milestone Payable Maximum Amount			190,000
Reimbursed Expenses to be Paid			34,000
Janssen Agreement [Member]
LICENSE AGREEMENTS [Line Items]
Payment Received For Development Fee				$ 12,500,000
CSMC Licence Agreement [Member]
LICENSE AGREEMENTS [Line Items]
Upfront Payment	2,500
Reimbursed Expenses to be Paid	$ 10,000
Minimum [Member]
LICENSE AGREEMENTS [Line Items]
Development Milestones					$ 350,000
Maximum [Member]
LICENSE AGREEMENTS [Line Items]
Development Milestones					800,000
Maximum [Member] | JHU License Agreement [Member]
LICENSE AGREEMENTS [Line Items]
Potential Milestone Payments					1,850,000
Completion of Phase One [Member] | Exosomes License Agreement [Member]
LICENSE AGREEMENTS [Line Items]
Milestone Payments To Be Made Upon Successful Completion Of Certain Phases			15,000
Completion of Phase One [Member] | Minimum [Member]
LICENSE AGREEMENTS [Line Items]
Range of Milestone Payments, Payable Upon Successful Completion of Certain Phases					100,000
Obtention of FDA Approval [Member] | Exosomes License Agreement [Member]
LICENSE AGREEMENTS [Line Items]
Milestone Payments To Be Made Upon Successful Completion Of Certain Phases			$ 75,000
Obtention of FDA Approval [Member] | Maximum [Member]
LICENSE AGREEMENTS [Line Items]
Range of Milestone Payments, Payable Upon Successful Completion of Certain Phases					1,000,000
First and Second Anniversary [Member]
LICENSE AGREEMENTS [Line Items]
Payments for Royalties					5,000
Tenth Anniversary and Thereafter [Member]
LICENSE AGREEMENTS [Line Items]
Payments for Royalties					$ 20,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
	Apr. 30, 2013	Jun. 30, 2017	Dec. 31, 2016
Related Party Transaction [Line Items]
Accounts Payable and Accrued Expenses Related Party Current		$ 311,190	$ 489,217
Lit Digital Media LLC [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party			1,500
Board of Directors Chairman [Member] | Sublease Agreement with Frank Litvack [Member]
Related Party Transaction [Line Items]
Rental Income, Nonoperating	$ 2,500	7,500
Affiliated Entity [Member] | Transaction other than Sub-Award Agreement [Member]
Related Party Transaction [Line Items]
Accounts Payable and Accrued Expenses Related Party Current		$ 311,058	$ 477,907

SUBSEQUENT EVENTS (Details Text

SUBSEQUENT EVENTS (Details Textual) - USD ($)	Aug. 11, 2017	Aug. 01, 2017	Mar. 31, 2017	Jun. 30, 2017	Jun. 30, 2016
Proceeds from Issuance of Common Stock				$ 3,681,861	$ 3,929,795
ATM Program [Member]
Commission Rate On Sale Price Per Share			3.00%
Subsequent Event [Member] | Maximum [Member]
Operating Leases, Rent Expense		$ 19,756
Subsequent Event [Member] | Minimum [Member]
Operating Leases, Rent Expense		$ 19,350
Subsequent Event [Member] | ATM Program [Member]
Stock Issued During Period, Shares, New Issues	900,939
Shares Issued, Price Per Share	$ 1.45
Proceeds from Issuance of Common Stock	$ 1,300,000
Payments of Stock Issuance Costs	$ 39,200
Commission Rate On Sale Price Per Share	3.00%