Corbus Pharmaceuticals (CRBP) 10-Q 8 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 03, 2017
Document And Entity Information
Entity Registrant Name	Corbus Pharmaceuticals Holdings, Inc.
Entity Central Index Key	1,595,097
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		54,873,010
Trading Symbol	CRBP
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,017

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 36,597,469	$ 14,992,257
Restricted cash	200,000	150,000
Grants receivable	500,000	1,000,000
Stock subscriptions receivable		330,413
Prepaid expenses and other current assets	719,868	930,261
Total current assets	38,017,337	17,402,931
Restricted cash		50,000
Property and equipment, net	337,297	435,251
Other assets	65,026
Total assets	38,419,660	17,888,182
Current liabilities:
Notes payable		271,757
Accounts payable	3,776,516	3,419,921
Accrued expenses	2,558,602	3,256,455
Deferred revenue		1,940,195
Deferred rent, current		10,263
Total current liabilities	6,335,118	8,898,591
Deferred rent, noncurrent	102,561	65,724
Other liabilities	1,482	4,632
Total liabilities	6,439,161	8,968,947
Commitments and Contingencies
Stockholders' equity
Preferred stock, $0.0001 par value; 10,000,000 shares authorized, no shares issued and outstanding at September 30, 2017 and December 31, 2016
Common stock, $0.0001 par value; 150,000,000 shares authorized, 50,223,010 and 44,681,745 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively	5,022	4,468
Additional paid-in capital	86,979,888	42,191,256
Accumulated deficit	(55,004,411)	(33,276,489)
Total stockholders' equity	31,980,499	8,919,235
Total liabilities and stockholders' equity	$ 38,419,660	$ 17,888,182

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	50,223,010	44,681,745
Common stock, shares outstanding	50,223,010	44,681,745

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Collaboration revenue	$ 796,312	$ 742,558	$ 2,440,195	$ 1,535,754
Operating expenses:
Research and development	5,622,511	4,315,632	17,752,283	10,056,568
General and administrative	2,130,587	1,760,696	6,388,802	3,891,810
Total operating expenses	7,753,098	6,076,328	24,141,085	13,948,378
Operating loss	(6,956,786)	(5,333,770)	(21,700,890)	(12,412,624)
Other income (expense), net:
Interest income, net	43,402	1,731	50,039	420
Foreign currency exchange loss	(52,212)	(14,729)	(77,071)	(16,196)
Other expense, net	(8,810)	(12,998)	(27,032)	(15,776)
Net loss	$ (6,965,596)	$ (5,346,768)	$ (21,727,922)	$ (12,428,400)
Net loss per share, basic and diluted	$ (0.14)	$ (0.12)	$ (0.44)	$ (0.31)
Weighted average number of common shares outstanding, basic and diluted	50,221,597	43,783,504	48,946,335	40,059,364

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - 9 months ended Sep. 30, 2017 - USD ($)	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Total
Balance at Dec. 31, 2016	$ 4,468	$ 42,191,256	$ (33,276,489)	$ 8,919,235
Balance, shares at Dec. 31, 2016	44,681,745
Issuance of common stock, net of issuance costs of $492,674	$ 530	40,446,092		40,446,622
Issuance of common stock, net of issuance costs of $492,674, shares	5,301,448
Stock based compensation expense		4,233,511		4,233,511
Issuance of common stock upon exercise of stock options	$ 24	109,029		$ 109,053
Issuance of common stock upon exercise of stock options, Shares	239,817			239,817
Net loss			(21,727,922)	$ (21,727,922)
Balance at Sep. 30, 2017	$ 5,022	$ 86,979,888	$ (55,004,411)	$ 31,980,499
Balance, shares at Sep. 30, 2017	50,223,010

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) (Parenthetical)	9 Months Ended
	Sep. 30, 2017USD ($)
Statement of Stockholders' Equity [Abstract]
Stock issuance cost	$ 492,674

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net loss	$ (21,727,922)	$ (12,428,400)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation expense	4,233,511	1,522,345
Depreciation and amortization	191,093	57,695
Unrealized loss on foreign exchange	39,492
Deferred rent	26,574
Changes in operating assets and liabilities:
Decrease in grants receivable	500,000
Decrease in prepaid expenses	210,393	60,717
Increase in other assets	(65,026)
Increase in accounts payable	517,677	1,448,004
(Decrease) increase in accrued expenses	(668,286)	1,772,585
Decrease in deferred revenue	(1,940,195)	(535,753)
Increase in other long-term liabilities		10,205
Net cash used in operating activities	(18,682,689)	(8,092,602)
Cash flows from investing activities:
Purchases of property and equipment	(127,246)	(257,014)
Net cash used in investing activities	(127,246)	(257,014)
Cash flows from financing activities:
Principal payments on notes payable	(271,757)	(162,019)
Proceeds from issuance of common stock	41,378,762	15,235,283
Issuance costs paid for common stock financings	(689,023)
Principal payments on capital lease obligation	(2,835)	(2,575)
Net cash provided by financing activities	40,415,147	15,070,689
Net increase in cash, cash equivalents, and restricted cash	21,605,212	6,721,073
Cash, cash equivalents, and restricted cash at beginning of the period	15,192,257	12,374,650
Cash, cash equivalents, and restricted cash at end of the period	36,797,469	19,095,723
Supplemental disclosure of cash flow information and non-cash transactions:
Cash paid during the period for interest	10,691	3,815
Cash paid during the period for income taxes		1,877
Asset acquired under capital lease obligation		11,638
Purchases of property and equipment included in accounts payable		$ 13,999

Nature of Operations

Nature of Operations	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	1. NATURE OF OPERATIONS Business Corbus Pharmaceuticals Holdings, Inc. (the “Company”) is a clinical stage pharmaceutical company, focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. Since its inception, the Company has devoted substantially all of its efforts to business planning, research and development, recruiting management and technical staff, acquiring operating assets and raising capital. The Company’s business is subject to significant risks and uncertainties and the Company will be dependent on raising substantial additional capital before it becomes profitable and it may never achieve profitability. In the opinion of management of the Company, the accompanying unaudited condensed consolidated interim financial statements reflect all adjustments (which include only normal recurring adjustments) necessary to present fairly, in all material respects, the consolidated financial position of the Company as of September 30, 2017, the results of its operations for the three months and nine months ended September 30, 2017 and 2016 and its cash flows for the nine months ended September 30, 2017 and 2016. The December 31, 2016 condensed consolidated balance sheet was derived from audited financial statements. The Company prepared the condensed consolidated financial statements following the requirements of the SEC for interim reporting. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. It is suggested that these condensed consolidated financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, filed on March 8, 2017. The results of operations for such interim periods are not necessarily indicative of the operating results for the full fiscal year.

Liquidity

Liquidity	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Liquidity	2. LIQUIDITY The Company anticipates operating losses and negative cash flows from operations to continue for the foreseeable future due to, among other things, costs related to research funding, development of its product candidates and its preclinical and clinical programs, strategic alliances and the development of its administrative organization. The Company has incurred recurring losses since inception and as of September 30, 2017, had an accumulated deficit of $55,004,411. On October 26, 2017, the Company consummated an underwritten public offering of shares of its common stock pursuant to which the Company sold an aggregate of 4,650,000 shares of its common stock to institutional investors at a purchase price of $7.00 per share with net proceeds to the Company totaling approximately $30,397,000 (“October 2017 Offering”) (See Notes 9 and 13). The Company expects the cash on hand of $36,597,469 at September 30, 2017 together with the proceeds from the October 2017 Offering and the remaining milestone payment of $500,000 from the Cystic Fibrosis Foundation Therapeutics, Inc. (“CFFT”), which the Company received in the fourth quarter of 2017 (See Note 8), to be sufficient to meet its operating and capital requirements at least 12 months from the filing of this 10-Q. Should the Company be unable to raise sufficient additional capital, the Company may be required to undertake cost-cutting measures including delaying or discontinuing certain clinical activities. The Company will need to raise significant additional capital to continue to fund the clinical trials for anabasum. The Company may seek to sell common or preferred equity or convertible debt securities, enter into a credit facility or another form of third-party funding, or seek other debt financing. The sale of equity and convertible debt securities may result in dilution to the Company’s stockholders and certain of those securities may have rights senior to those of the Company’s common shares. If the Company raises additional funds through the issuance of preferred stock, convertible debt securities or other debt financing, these securities or other debt could contain covenants that would restrict the Company’s operations. Any other third-party funding arrangement could require the Company to relinquish valuable rights. The source, timing and availability of any future financing will depend principally upon market conditions, and, more specifically, on the progress of the Company’s clinical development programs. Funding may not be available when needed, at all, or on terms acceptable to the Company. Lack of necessary funds may require the Company, among other things, to delay, scale back or eliminate some or all of the Company’s planned clinical trials.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Significant Accounting Policies	3. SIGNIFICANT ACCOUNTING POLICIES A summary of the significant accounting policies followed by the Company in the preparation of the financial statements is as follows: Use of Estimates The process of preparing financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and changes in estimates may occur. The most significant estimates are related to the expected performance period under the Company’s development award agreement with CFFT (See Note 8), stock based compensation and the accrual of research, product development and clinical obligations. Prior to the registration of its common stock and the subsequent public listing of the common stock, the Company had granted stock options at exercise prices not less than the fair value of its common stock as determined by the board of directors, with input from management. The Company’s board of directors determined the estimated fair value of the common stock based on a number of objective and subjective factors, including external market conditions affecting the biotechnology industry sector and the historic prices at which the Company sold shares of preferred stock. Reclassifications The Company has reclassified certain prior period amounts to conform to the current period financial statement presentation, specifically in the presentation of the cash flow statement for the comparable prior period as a result of the Restricted Cash (a consensus of the FASB Emerging Issues Task Force ”). ASU 2016-18 requires companies to show the changes in the total of cash, cash equivalents, restricted cash and restricted cash equivalents in the statement of cash flows and as a result, transfers between cash and cash equivalents and restricted cash and restricted cash equivalents will no longer be presented in the statement of cash flows. ASU 2016-18 is being applied using a retrospective transition method to each period presented. The impact on prior periods was not material to the Company’s financial statements. Cash and Cash Equivalents The Company considers only those investments which are highly liquid, readily convertible to cash, and that mature within three months from date of purchase to be cash equivalents. Marketable investments are those with maturities in excess of three months. At September 30, 2017 and December 31, 2016, cash equivalents were comprised of money market funds. The Company had no marketable investments at September 30, 2017 and December 31, 2016. Restricted cash as of September 30, 2017 and December 31, 2016 included a $150,000 collateral account for the Company’s corporate credit cards and is classified in current assets. Additionally, as of September 30, 2017 and December 31, 2016 restricted cash included a stand-by letter of credit issued in favor of a landlord for $50,000 which was classified in current assets as of September 30, 2017 and in noncurrent assets as of December 31, 2016 (See Note 5). Cash and cash equivalents consist of the following: September 30, 2017 December 31, 2016 Cash $ 219,141 $ 1,127,530 Money market fund 36,378,328 13,864,727 Cash and cash equivalents 36,597,469 14,992,257 Restricted cash, current 200,000 150,000 Restricted cash, noncurrent — 50,000 Restricted cash 200,000 200,000 Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 36,797,469 $ 15,192,257 Financial Instruments The carrying amounts reported in the consolidated balance sheet for cash and cash equivalents, receivables, accounts payable and accrued expenses approximate their fair value based on the short-term nature of these instruments. The carrying values of the notes payable approximate their fair value due to their market terms. Property and Equipment The estimated life for the Company’s property and equipment is as follows: three years for computer hardware and software and three to five years for office furniture and equipment. The Company’s leasehold improvements and assets under capital lease are amortized over the shorter of their useful lives or the respective leases. See Note 4 for details of property and equipment and Note 5 for operating and capital lease commitments. Research and Development Expenses and Collaborative Research Agreements Costs incurred for research and development are expensed as incurred. For amounts received under the development award from the CFFT (See Note 8), the Company is recognized those amounts when the triggering event to receive those payments occurred, with those amounts being amortized on a straight-line basis over the expected duration of the remaining performance period of the development program under the award, which concluded in the third quarter of 2017. Accruals for Research and Development Expenses and Clinical Trials As part of the process of preparing its financial statements, the Company is required to estimate its expenses resulting from its obligations under contracts with vendors, clinical research organizations and consultants and under clinical site agreements in connection with conducting clinical trials. The financial terms of these contracts are subject to negotiations, which vary from contract to contract and may result in payment terms that do not match the periods over which materials or services are provided under such contracts. The Company’s objective is to reflect the appropriate expenses in its financial statements by matching those expenses with the period in which services are performed and efforts are expended. The Company accounts for these expenses according to the timing of various aspects of the expenses. The Company determines accrual estimates by taking into account discussion with applicable personnel and outside service providers as to the progress of clinical trials, or the services completed. During the course of a clinical trial, the Company adjusts its clinical expense recognition if actual results differ from its estimates. The Company makes estimates of its accrued expenses as of each balance sheet date based on the facts and circumstances known to it at that time. The Company’s clinical trial accruals are dependent upon the timely and accurate reporting of contract research organizations and other third-party vendors. Although the Company does not expect its estimates to be materially different from amounts actually incurred, its understanding of the status and timing of services performed relative to the actual status and timing of services performed may vary and may result in it reporting amounts that are too high or too low for any particular period. For the three and nine months ended September 30, 2017 and 2016, there were no material adjustments to the Company’s prior period estimates of accrued expenses for clinical trials. Concentrations of Credit Risk The Company has no significant off-balance-sheet concentration of credit risk such as foreign exchange contracts, option contracts or other hedging arrangements. The Company may from time to time have cash in banks in excess of Federal Deposit Insurance Corporation insurance limits. However, the Company believes the risk of loss is minimal as these banks are large financial institutions. Segment Information Operating segments are identified as components of an enterprise for which separate discrete financial information is used by the chief operating decision maker, or decision making group, in making decisions regarding resource allocation and assessing performance. To date, the Company has viewed its operations and manages its business as one operating segment, which is developing and commercializing therapeutics to treat rare life-threating, inflammatory fibrotic diseases. As of September 30, 2017 and December 31, 2016, all of the Company’s assets were located in the United States. Income Taxes For federal and state income taxes, deferred tax assets and liabilities are recognized based upon temporary differences between the financial statement and the tax basis of assets and liabilities. Deferred income taxes are based upon prescribed rates and enacted laws applicable to periods in which differences are expected to reverse. A valuation allowance is recorded to reduce a net deferred tax asset when it is more likely than not that the tax benefit from the deferred tax assets will not be realized. Accordingly, given the cumulative losses since inception, the Company has provided a valuation allowance equal to 100% of the tax asset in order to eliminate the deferred tax assets amounts. Tax positions taken or expected to be taken in the course of preparing the Company’s tax returns are required to be evaluated to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax positions not deemed to meet a more-likely-than-not threshold, as well as accrued interest and penalties, if any, would be recorded as a tax expense in the current year. There were no uncertain tax positions that require accrual or disclosure to the financial statements as of September 30, 2017 or December 31, 2016. Impairment of Long-lived Assets The Company continually monitors events and changes in circumstances that could indicate that carrying amounts of long-lived assets may not be recoverable. An impairment loss is recognized when expected undiscounted cash flows of an asset are less than an asset’s carrying value. Accordingly, when indicators of impairment are present, the Company evaluates the carrying value of such assets in relation to the operating performance and future undiscounted cash flows of the underlying assets. An impairment loss equal to the excess of the fair value of the asset over its carrying amount, is recorded when it is determined that the carrying value of the asset may not be recoverable. No impairment charges were recorded during the three and nine months ended September 30, 2017 and 2016. Share-based Payments The Company recognizes compensation costs resulting from the issuance of stock-based awards to employees, non-employees and directors as an expense in the statement of operations over the service period based on a measurement of fair value for each stock-based award. The fair value of each option grant is estimated as of the date of grant using the Black-Scholes option-pricing model. The fair value is amortized as compensation cost on a straight-line basis over the requisite service period of the awards, which is generally the vesting period. Stock options granted to non-employee consultants are revalued at the end of each reporting period until vested and the changes in their fair value are recorded as adjustments to expense over the related vesting period. Net Loss Per Common Share Basic and diluted net loss per share of the Company’s common stock has been computed by dividing net loss by the weighted average number of common shares outstanding during the period. For years in which there is a net loss, options, warrants and convertible securities are anti-dilutive and therefore are excluded from diluted loss per share calculations. The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2017 and 2016: Three Months Ended September 30 Nine Months Ended September 30 2017 2016 2017 2016 Basic and diluted net loss per share of common stock: Net loss $ (6,965,596 ) $ (5,346,768 ) $ (21,727,922 ) $ (12,428,400 ) Weighted average shares of common stock outstanding 50,221,597 43,783,504 48,946,335 40,059,364 Net loss per share of common stock-basic and diluted $ (0.14 ) $ (0.12 ) $ (0.44 ) $ (0.31 ) The following potentially dilutive securities for the three and nine months ended September 30, 2017 and 2016 have been excluded from the computation of dilutive weighted average shares outstanding for the computation of dilutive net loss per share as the inclusion would be anti-dilutive Three and Nine Months Ended September 30, 2017 2016 Warrants 1,288,500 1,789,250 Stock options 7,724,779 5,932,679 Total 9,013,279 7,721,929 On October 26, 2017, the Company consummated an underwritten public offering of shares of its common stock pursuant to which the Company sold an aggregate of 4,650,000 shares of its common stock to institutional investors at a purchase price of $7.00 per share with net proceeds to the Company totaling approximately $30,397,000 (“October 2017 Offering”) (See Notes 9 and 13). Recent Accounting Pronouncements Revenue Recognition In May 2014, the FASB issued guidance codified in Accounting Standards Codification (ASC) 606, Revenue Recognition — Revenue from Contracts with Customers ASC 605, Revenue Recognition Accounting for Leases In February 2016, the FASB issued ASU No . Leases (Topic 842) . Employee Share-Based Payment Accounting On March 30, 2016, the FASB issued ASU No. 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting .

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2017
Property, Plant and Equipment [Abstract]
Property and Equipment	4. PROPERTY AND EQUIPMENT Property and equipment consisted of the following: September 30, 2017 December 31, 2016 Computer hardware and software $ 121,905 $ 96,131 Office furniture and equipment 284,558 259,138 Leasehold improvements 191,244 188,219 Construction in progress 38,920 — Property and equipment, gross 636,627 543,488 Less: accumulated depreciation (299,330 ) (108,237 ) Property and equipment, net $ 337,297 $ 435,251 Depreciation expense was $126,641 and $20,464 for the three months ended September 30, 2017 and 2016, respectively and $191,093 and $57,695 for the nine months ended September 30, 2017 and 2016, respectively. On December 30, 2015, the Company entered into a lease agreement for a copier machine. The cost of the machine was approximately $12,000 and is included in office furniture and equipment category in the table above. The lease payments commenced when the machine was placed in service in January 2016. The machine is being amortized over the life of the lease, which is for a three-year term and includes a bargain purchase option at the end of the term. See Note 5 for details of this capital lease commitment.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	5. COMMITMENTS AND CONTINGENCIES Operating Lease Commitment In September 2016, the Company amended its commercial lease for office space to expand into an additional 4,088 square feet of office space within the existing building for an aggregate total of 10,414 square feet of leased office space (“September 2016 Amendment”). The Company began occupying this space in early November 2016 and the final lease payment was to be due in January 2021. The September 2016 Amendment required an increase in the standby letter of credit to $50,000 (See Note 4). The September 2016 Amendment will be terminated upon the commencement date of the August 2017 Lease Agreement discussed below. On August 21, 2017, the Company entered into a lease agreement (“August 2017 Lease Agreement”) with the existing landlord, pursuant to which the Company agreed to lease 32,733 square feet of office space (“Leased Premises”) in a building different than under the September 2016 Amendment. The initial term of the August 2017 Lease Agreement is for a period of seven years and is expected to begin upon the earlier of the date of completion of the Company’s work to be performed to prepare the Leased Premises for its initial occupancy or February 18, 2018. The base rent for the Leased Premises ranges from approximately $470,000 for the first year to $908,341 for the seventh year. Additionally, the August 2017 Lease Agreement required a standby irrevocable letter of credit of $400,000, which may be reduced, if the Company is not in default under the August 2017 Lease Agreement, to $300,000 and $200,000 on the third and fourth anniversary of the commencement date, respectively, The Company entered into an unsecured letter of credit for $400,000 in connection with the August 2017 Lease Agreement for which it incurred interest expense of $8,669 in the three and nine months ended September 30, 2017. The Company records the total rent payable during the lease term on a straight-line basis over the term of the lease and records the difference between the rents paid and the straight-line rent as deferred rent, which is classified in deferred rent, current and deferred rent, noncurrent in the Company’s balance sheet as of September 30, 2017 and December 31, 2016. Pursuant to the terms of the Company’s non-cancelable lease agreements in effect at September 30, 2017, the future minimum rent commitments are as follows: 2017 (remainder of year) $ 81,576 2018 432,889 2019 623,958 2020 784,243 2021 830,600 2022 855,150 Thereafter 1,935,339 Total $ 5,543,755 Total rent expense for the three months ended September 30, 2017 and 2016 was $92,671 and $37,666, respectively. Total rent expense for the nine months ended September 30, 2017 and 2016 was $209,687 and $111,878, respectively. Capital Lease Commitment The lease payments under the capital lease agreement for the copier machine commenced when the machine was placed in service in January 2016. The lease is for a three-year term and includes a bargain purchase option at the end of the term. In the accompanying balance sheet as of September 30, 2017, the current portion of this capital lease obligation is classified in accrued expenses and the long-term portion of the capital lease obligation is classified in other long-term liabilities. Pursuant to the terms of this capital lease agreement, the future minimum capital lease commitments are as follows as of September 30, 2017: 2017 (remainder of year) $ 1,136 2018 4,543 2019 379 Total future minimum lease payments 6,058 Less: interest (430 ) Future capital lease obligations 5,628 Less: current portion (4,146 ) Long-term portion $ 1,482

Notes Payable

Notes Payable	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Notes Payable	6. NOTES PAYABLE In November 2015, the Company entered into a loan agreement with a financing company for $207,750 to finance one of the Company’s insurance policies. The terms of the loan stipulated equal monthly payments of principal and interest payments of $23,397 over a nine-month period. Interest on this loan was accrued at an annual rate of 3.25%. This loan was fully repaid in July 2016. In October 2016, the Company entered into a loan agreement with a financing company for $348,750 to finance one of the Company’s insurance policies. The terms of the loan stipulated equal monthly payments of principal and interest payments of $39,114 over a nine-month period. Interest accrued on this loan at an annual rate of 2.25%. This loan was fully repaid in July 2017. Prepaid expenses as of September 30, 2017 and December 31, 2016 included $30,000 and $378,750, respectively, related to this insurance policy. For three months ended September 30, 2017 and 2016, interest expense for notes payable totaled $73 and $63, respectively. For nine months ended September 30, 2017 and 2016, interest expense for notes payable totaled $2,042 and $1,760, respectively. Notes payable consisted of the following: September 30, 2017 December 31, 2016 Notes payable $ — $ 271,757 Less: current portion — (271,757 ) Long term portion $ — $ —

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2017
Payables and Accruals [Abstract]
Accrued Expenses	7. ACCRUED EXPENSES Accrued expenses consisted of the following: September 30, 2017 December 31, 2016 Accrued clinical operations and trials costs $ 1,395,736 $ 1,647,490 Accrued product development costs 885,063 713,426 Accrued compensation 131,905 778,250 Accrued other 145,898 117,289 Total $ 2,558,602 $ 3,256,455

Development Award and Deferred

Development Award and Deferred Revenue	9 Months Ended
	Sep. 30, 2017
Development Award And Deferred Revenue
Development Award and Deferred Revenue	8. DEVELOPMENT AWARD AND DEFERRED REVENUE On April 20, 2015, the Company entered into an award agreement with the CFFT, a non-profit drug discovery and development affiliate of the Cystic Fibrosis Foundation, pursuant to which it received a development award (the “Award”) for up to $5 million in funding. The funding from the Award supported a first-in-patient Phase 2 clinical trial of the Company’s oral anti-inflammatory drug anabasum in adults with cystic fibrosis (“CF”). The Company has billed and received $5.0 million in payments since the inception of the Award as outlined below. The payments received under the award were recorded as deferred revenue when the triggering event to receive those amounts has occurred and were amortized on a straight-line basis over the expected duration of the remaining performance period under the Award which concluded in the third quarter of 2017. Upon the execution of the Award agreement, the Company received a payment of $1,250,000 in May 2015. In November 2015, the Company received a second payment of $1,250,000 upon the achievement of a milestone for dosing the first patient. In August 2016, the Company received a third payment from the CFFT in the amount of $1,000,000 for achieving a milestone in July 2016 related to dosing the median clinical trial patient. In January 2017, the Company received a fourth payment from the CFFT in the amount of $1,000,000 for achieving a milestone in December 2016 related to completing the final visit for the final patient, which was billed by the Company to CFFT in December 2016 and was classified in grants receivable as of December 31, 2016. The Company achieved the final milestone in September 2017 related to the issuance to CFFT of the final integrated statistical report related to the Phase 2 CF clinical trial. At that time the Company had completed all its performance obligations under the contract and therefore the performance period had concluded. The final milestone amount of $500,000 was billed by the Company to CFFT in September 2017 and was classified in grants receivable as of September 30, 2017. The Company received the $500,000 milestone payment under the Award from CFFT in November 2017. Pursuant to the terms of the Award agreement, the Company is obligated to make royalty payments to CFFT contingent upon commercialization of anabasum in the Field of Use (as defined in the Award agreement) as follows: (i) a royalty payment equal to five times the amount the Company receives under the Award agreement, up to $25 million, payable in three equal annual installments following the first commercial sale of anabasum, the first of which is due within 90 days following the first commercial sale of anabasum, (ii) a royalty payment to CFFT equal to the amount the Company receives under the Award agreement, up to $5 million, due in the first calendar year in which the aggregate cumulative net sales of anabasum in the Field of Use exceed $500 million, and (iii) royalty payment(s) to CFFT of up to approximately $15 million if the Company transfers, sells or licenses anabasum in the Field of Use other than for certain clinical or development purposes, or if the Company enters into a change of control transaction, with such payment(s) to be credited against the royalty payments due upon commercialization. The Field of Use is defined in the Award as the treatment in humans of CF, asbestosis, bronchiectasis, byssinosis, chronic bronchitis/COPD hypersensitivity pneumonitis, pneumoconiosis, primary ciliary dyskinesis, sarcoidosis and silicosis. Either CFFT or the Company may terminate the agreement for cause, which includes the Company’s material failure to achieve certain commercialization and development milestones. The Company’s payment obligations, if any, would survive the termination of the Award agreement. For the three months ended September 30, 2017 and 2016, the Company recognized revenue in respect of this collaboration of $796,312 and $742,558, respectively. For the nine months ended September 30, 2017 and 2016, the Company recorded revenue of $2,440,195 and $1,535,754, respectively. Deferred revenue consists of the following: September 30, 2017 December 31, 2016 Deferred revenue $ — $ 1,940,195 Less: current portion — (1,940,195 ) Long-term portion $ — $ —

Common Stock

Common Stock	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Common Stock	9. COMMON STOCK The Company has authorized 150,000,000 shares of common stock, $0.0001 par value per share, of which 50,223,010 shares and 44,681,745 shares were issued and outstanding as of September 30, 2017 and December 31, 2016, respectively. On February 28, 2017, the Company entered into a securities purchase agreement providing for the issuance and sale by the Company of 3,887,815 shares of its common stock in a registered direct offering to institutional and accredited investors at a purchase price of $7.00 per share with gross proceeds to the Company totaling $27,214,705 less issuance costs of approximately $36,291. In November 2016, the Company entered into a sales agreement with Cantor Fitzgerald (“Cantor”) under which the Company directed Cantor as its placement agent to sell common stock under an “At the Market Offering” (“Sales Agreement”). Sales of common stock under the Sales Agreement were made pursuant to an effective registration statement for an aggregate offering of up to $35 million, under which the Company sold an aggregate of approximately $15.4 million of common stock through September 30, 2017. Under the Sales Agreement, the Company was obligated to pay Cantor a 3% commission on gross proceeds. During the three months ended March 31, 2017, the Company sold 1,413,633 shares of its common stock under the Sales Agreement at an average selling price of approximately $9.71 per share for gross proceeds of $13,724,591 and net proceeds of $13,268,208. The Company did not sell any shares of its common stock under the Sales Agreement in the second or third quarter of 2017 and terminated the Sales Agreement in connection with the October 2017 Offering. During the three months ended September 30, 2017, the Company issued 2,500 shares of common stock upon the exercise of stock options to purchase common stock and the Company received proceeds of $8,250 from these exercises. During the nine months ended September 30, 2017, the Company issued 239,817 shares of common stock upon the exercise of stock options to purchase common stock and the Company received proceeds of $109,053 from these exercises. On October 26, 2017, the Company consummated an underwritten public offering of shares of its common stock pursuant to which the Company sold an aggregate of 4,650,000 shares of its common stock to institutional investors at a purchase price of $7.00 per share with gross proceeds to the Company totaling $32,550,000, less estimated issuance costs of approximately $2,153,000. The Company also granted the underwriters a 30-day option to purchase up to an additional 697,500 shares of common stock on the same terms as the underwriters are purchasing the base number of shares.

Stock Options

Stock Options	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Options	10. STOCK OPTIONS In April 2014, the Company adopted the Corbus Pharmaceuticals Holdings, Inc. 2014 Equity Incentive Plan (the “2014 Plan”). Pursuant to the 2014 Plan, the Company’s Board of Directors may grant incentive and nonqualified stock options and restricted stock to employees, officers, directors, consultants and advisors. On January 1, 2016, pursuant to an annual evergreen provision contained in the 2014 Plan, the number of shares reserved for future grants was increased by 1,250,000 shares, respectively. As of December 31, 2016, there was a total of 9,916,017 shares reserved for issuance under the 2014 Plan and there were 2,840,133 shares available for future grants. Options issued under the 2014 Plan are exercisable for up to 10 years from the date of issuance. Pursuant to the terms of an annual evergreen provision in the 2014 Plan, the number of shares of common stock available for issuance under the 2014 Plan shall automatically increase on January 1 of each year by at least seven percent (7%) of the total number of shares of common stock outstanding on December 31 st Share-based Compensation For stock options issued and outstanding for the three months ended September 30, 2017 and 2016, the Company recorded non-cash, stock-based compensation expense of $1,351,284 ($1,213,552 for employees and $137,732 for non-employees) and $828,097 ($813,200 for employees and $14,897 for non-employees), respectively, net of estimated forfeitures. For stock options issued and outstanding for the nine months ended September 30, 2017 and 2016, the Company recorded non-cash, stock-based compensation expense of $4,233,511 ($3,302,437 for employees and $931,073 for non-employees) and $1,522,345 ($1,377,811 for employees and $144,534 for non-employees) respectively, net of estimated forfeitures. The fair value of each option award for employees is estimated on the date of grant and for non-employees is estimated at the end of each reporting period using the Black-Scholes option pricing model that uses the assumptions noted in the following table. Due to its limited operating history and limited number of sales of its common stock, the Company estimated its volatility in consideration of a number of factors, including the volatility of comparable public companies and, commencing in 2015, the Company also included the volatility of its own common stock. The expected term of options granted under the 2014 Plan, all of which qualify as “plain vanilla” per SEC Staff Accounting Bulletin 107, is determined based on the simplified method due to the Company’s limited operating history, and is 6.25 years based on the average between the vesting period and the contractual life of the option. For non-employee options, the expected term is the contractual term. The risk-free rate is based on the yield of a U.S. Treasury security with a term consistent with the option. The Company uses historical data to estimate forfeitures, which are estimated at 5%. The weighted average of assumptions used principally in determining the fair value of options granted to employees and non-employees were as follows: Nine Months Ended September 30, 2017 2016 Risk free interest rate 2.13 % 1.65 % Expected dividend yield 0 % 0 % Expected term in years 6.5 7 6.74 Expected volatility 85.8 % 93.1 % A summary of option activity for the nine months ended September 30, 2017 and is presented below: Options Shares Weighted Average Exercise Price Weighted Contractual Aggregate Intrinsic Value Outstanding at December 31, 2016 6,610,179 $ 2.54 Granted 1,423,000 8.42 Exercised (239,817 ) 0.42 Forfeited (68,583 ) 6.62 Outstanding at September 30, 2017 7,724,779 $ 3.66 7.93 $ 29,985,612 Vested at September 30, 2017 4,055,877 $ 1.61 7.16 $ 22,466,228 The weighted average grant-date fair value of options granted during the nine months ended September 30, 2017 and 2016 was $6.22 and $2.85 per share, respectively. The aggregate intrinsic value of options exercised during the nine months ended September 30, 2017 and September 30, 2016 was approximately $1,935,624 and $610,608, respectively. As of September 30, 2017, there was approximately $12,809,402 of total unrecognized compensation expense, related to non-vested share-based compensation arrangements. The unrecognized compensation expense is estimated to be recognized over a period of 3.05 years as of September 30, 2017.

Warrants

Warrants	9 Months Ended
	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Warrants	11. WARRANTS At September 30, 2017, there were warrants outstanding to purchase 1,288,500 shares of common stock with a weighted average exercise price of $1.00 and a weighted average remaining life of 1.66 years. No warrants were exercised during the nine months ended September 30, 2017. During the nine months ended September 30, 2016, warrants to purchase 178,750 shares of common stock were exercised on a cashless basis resulting in the issuance of 161,591 shares and warrants to purchase 1,250 shares of common stock were exercised on a for cash basis. There were no warrants issued or cancelled during the nine months ended September 30, 2017 and 2016.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
Related Party Transactions	12. RELATED PARTY TRANSACTIONS On September 20, 2016, the Company entered into a consulting agreement (the “2016 Consulting Agreement”) with Orchestra Medical Ventures, LLC (“Orchestra”), of which a member of our Board of Directors, David Hochman, is Managing Partner. Under this agreement, Orchestra rendered a variety of consulting and advisory services relating principally to identifying and evaluating strategic relationships, licensing opportunities, and business strategies. The term of the 2016 Consulting Agreement commenced on September 20, 2016 and expired on March 20, 2017. Pursuant to the terms of the 2016 Consulting Agreement, the Company paid to Orchestra cash compensation in an aggregate amount of $100,000. In connection with this agreement, the Company granted an equity incentive award to Mr. Hochman consisting of options to purchase 50,000 shares (“Option Shares”) of common stock (the “Option Award”) pursuant to the Company’s 2014 Equity Compensation Plan, of which fifty percent (50%) vested on the three (3) month anniversary of the date of grant of the Option Award and the remainder of the Option Shares vested on the six (6) month anniversary of the date of grant of the Option Award. The Option Shares were granted with an exercise price of $7.14 per share. The Company recorded stock-based compensation expense of approximately $222,000 during the year ended December 31, 2016 and $171,000 during the first quarter of 2017 in respect of the Option Award. No stock-based compensation expense was recorded after the first quarter of 2017 related to the Option Shares as they were fully vested in March 2017.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	13. SUBSEQUENT EVENTS On October 26, 2017, the Company consummated an underwritten public offering of shares of its common stock pursuant to which the Company sold an aggregate of 4,650,000 shares of its common stock to institutional investors at a purchase price of $7.00 per share with gross proceeds to the Company totaling $32,550,000, less estimated issuance costs of approximately $2,153,000. The Company also granted the underwriters a 30-day option to purchase up to an additional 697,500 shares of common stock on the same terms as the underwriters purchased the base number of shares.

Significant Accounting Polici21

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The process of preparing financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and changes in estimates may occur. The most significant estimates are related to the expected performance period under the Company’s development award agreement with CFFT (See Note 8), stock based compensation and the accrual of research, product development and clinical obligations. Prior to the registration of its common stock and the subsequent public listing of the common stock, the Company had granted stock options at exercise prices not less than the fair value of its common stock as determined by the board of directors, with input from management. The Company’s board of directors determined the estimated fair value of the common stock based on a number of objective and subjective factors, including external market conditions affecting the biotechnology industry sector and the historic prices at which the Company sold shares of preferred stock.
Reclassifications	Reclassifications The Company has reclassified certain prior period amounts to conform to the current period financial statement presentation, specifically in the presentation of the cash flow statement for the comparable prior period as a result of the Restricted Cash (a consensus of the FASB Emerging Issues Task Force ”). ASU 2016-18 requires companies to show the changes in the total of cash, cash equivalents, restricted cash and restricted cash equivalents in the statement of cash flows and as a result, transfers between cash and cash equivalents and restricted cash and restricted cash equivalents will no longer be presented in the statement of cash flows. ASU 2016-18 is being applied using a retrospective transition method to each period presented. The impact on prior periods was not material to the Company’s financial statements.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers only those investments which are highly liquid, readily convertible to cash, and that mature within three months from date of purchase to be cash equivalents. Marketable investments are those with maturities in excess of three months. At September 30, 2017 and December 31, 2016, cash equivalents were comprised of money market funds. The Company had no marketable investments at September 30, 2017 and December 31, 2016. Restricted cash as of September 30, 2017 and December 31, 2016 included a $150,000 collateral account for the Company’s corporate credit cards and is classified in current assets. Additionally, as of September 30, 2017 and December 31, 2016 restricted cash included a stand-by letter of credit issued in favor of a landlord for $50,000 which was classified in current assets as of September 30, 2017 and in noncurrent assets as of December 31, 2016 (See Note 5). Cash and cash equivalents consist of the following: September 30, 2017 December 31, 2016 Cash $ 219,141 $ 1,127,530 Money market fund 36,378,328 13,864,727 Cash and cash equivalents 36,597,469 14,992,257 Restricted cash, current 200,000 150,000 Restricted cash, noncurrent — 50,000 Restricted cash 200,000 200,000 Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 36,797,469 $ 15,192,257
Financial Instruments	Financial Instruments The carrying amounts reported in the consolidated balance sheet for cash and cash equivalents, receivables, accounts payable and accrued expenses approximate their fair value based on the short-term nature of these instruments. The carrying values of the notes payable approximate their fair value due to their market terms.
Property and Equipment	Property and Equipment The estimated life for the Company’s property and equipment is as follows: three years for computer hardware and software and three to five years for office furniture and equipment. The Company’s leasehold improvements and assets under capital lease are amortized over the shorter of their useful lives or the respective leases. See Note 4 for details of property and equipment and Note 5 for operating and capital lease commitments.
Research and Development Expenses and Collaborative Research Agreements	Research and Development Expenses and Collaborative Research Agreements Costs incurred for research and development are expensed as incurred. For amounts received under the development award from the CFFT (See Note 8), the Company is recognized those amounts when the triggering event to receive those payments occurred, with those amounts being amortized on a straight-line basis over the expected duration of the remaining performance period of the development program under the award, which concluded in the third quarter of 2017.
Accruals for Research and Development Expenses and Clinical Trials	Accruals for Research and Development Expenses and Clinical Trials As part of the process of preparing its financial statements, the Company is required to estimate its expenses resulting from its obligations under contracts with vendors, clinical research organizations and consultants and under clinical site agreements in connection with conducting clinical trials. The financial terms of these contracts are subject to negotiations, which vary from contract to contract and may result in payment terms that do not match the periods over which materials or services are provided under such contracts. The Company’s objective is to reflect the appropriate expenses in its financial statements by matching those expenses with the period in which services are performed and efforts are expended. The Company accounts for these expenses according to the timing of various aspects of the expenses. The Company determines accrual estimates by taking into account discussion with applicable personnel and outside service providers as to the progress of clinical trials, or the services completed. During the course of a clinical trial, the Company adjusts its clinical expense recognition if actual results differ from its estimates. The Company makes estimates of its accrued expenses as of each balance sheet date based on the facts and circumstances known to it at that time. The Company’s clinical trial accruals are dependent upon the timely and accurate reporting of contract research organizations and other third-party vendors. Although the Company does not expect its estimates to be materially different from amounts actually incurred, its understanding of the status and timing of services performed relative to the actual status and timing of services performed may vary and may result in it reporting amounts that are too high or too low for any particular period. For the three and nine months ended September 30, 2017 and 2016, there were no material adjustments to the Company’s prior period estimates of accrued expenses for clinical trials.
Concentrations of Credit Risk	Concentrations of Credit Risk The Company has no significant off-balance-sheet concentration of credit risk such as foreign exchange contracts, option contracts or other hedging arrangements. The Company may from time to time have cash in banks in excess of Federal Deposit Insurance Corporation insurance limits. However, the Company believes the risk of loss is minimal as these banks are large financial institutions.
Segment Information	Segment Information Operating segments are identified as components of an enterprise for which separate discrete financial information is used by the chief operating decision maker, or decision making group, in making decisions regarding resource allocation and assessing performance. To date, the Company has viewed its operations and manages its business as one operating segment, which is developing and commercializing therapeutics to treat rare life-threating, inflammatory fibrotic diseases. As of September 30, 2017 and December 31, 2016, all of the Company’s assets were located in the United States.
Income Taxes	Income Taxes For federal and state income taxes, deferred tax assets and liabilities are recognized based upon temporary differences between the financial statement and the tax basis of assets and liabilities. Deferred income taxes are based upon prescribed rates and enacted laws applicable to periods in which differences are expected to reverse. A valuation allowance is recorded to reduce a net deferred tax asset when it is more likely than not that the tax benefit from the deferred tax assets will not be realized. Accordingly, given the cumulative losses since inception, the Company has provided a valuation allowance equal to 100% of the tax asset in order to eliminate the deferred tax assets amounts. Tax positions taken or expected to be taken in the course of preparing the Company’s tax returns are required to be evaluated to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax positions not deemed to meet a more-likely-than-not threshold, as well as accrued interest and penalties, if any, would be recorded as a tax expense in the current year. There were no uncertain tax positions that require accrual or disclosure to the financial statements as of September 30, 2017 or December 31, 2016.
Impairment of Long-lived Assets	Impairment of Long-lived Assets The Company continually monitors events and changes in circumstances that could indicate that carrying amounts of long-lived assets may not be recoverable. An impairment loss is recognized when expected undiscounted cash flows of an asset are less than an asset’s carrying value. Accordingly, when indicators of impairment are present, the Company evaluates the carrying value of such assets in relation to the operating performance and future undiscounted cash flows of the underlying assets. An impairment loss equal to the excess of the fair value of the asset over its carrying amount, is recorded when it is determined that the carrying value of the asset may not be recoverable. No impairment charges were recorded during the three and nine months ended September 30, 2017 and 2016.
Share-based Payments	Share-based Payments The Company recognizes compensation costs resulting from the issuance of stock-based awards to employees, non-employees and directors as an expense in the statement of operations over the service period based on a measurement of fair value for each stock-based award. The fair value of each option grant is estimated as of the date of grant using the Black-Scholes option-pricing model. The fair value is amortized as compensation cost on a straight-line basis over the requisite service period of the awards, which is generally the vesting period. Stock options granted to non-employee consultants are revalued at the end of each reporting period until vested and the changes in their fair value are recorded as adjustments to expense over the related vesting period.
Net Loss Per Common Share	Net Loss Per Common Share Basic and diluted net loss per share of the Company’s common stock has been computed by dividing net loss by the weighted average number of common shares outstanding during the period. For years in which there is a net loss, options, warrants and convertible securities are anti-dilutive and therefore are excluded from diluted loss per share calculations. The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2017 and 2016: Three Months Ended September 30 Nine Months Ended September 30 2017 2016 2017 2016 Basic and diluted net loss per share of common stock: Net loss $ (6,965,596 ) $ (5,346,768 ) $ (21,727,922 ) $ (12,428,400 ) Weighted average shares of common stock outstanding 50,221,597 43,783,504 48,946,335 40,059,364 Net loss per share of common stock-basic and diluted $ (0.14 ) $ (0.12 ) $ (0.44 ) $ (0.31 ) The following potentially dilutive securities for the three and nine months ended September 30, 2017 and 2016 have been excluded from the computation of dilutive weighted average shares outstanding for the computation of dilutive net loss per share as the inclusion would be anti-dilutive Three and Nine Months Ended September 30, 2017 2016 Warrants 1,288,500 1,789,250 Stock options 7,724,779 5,932,679 Total 9,013,279 7,721,929 On October 26, 2017, the Company consummated an underwritten public offering of shares of its common stock pursuant to which the Company sold an aggregate of 4,650,000 shares of its common stock to institutional investors at a purchase price of $7.00 per share with net proceeds to the Company totaling approximately $30,397,000 (“October 2017 Offering”) (See Notes 9 and 13).
Recent Accounting Pronouncements	Recent Accounting Pronouncements Revenue Recognition In May 2014, the FASB issued guidance codified in Accounting Standards Codification (ASC) 606, Revenue Recognition — Revenue from Contracts with Customers ASC 605, Revenue Recognition Accounting for Leases In February 2016, the FASB issued ASU No . Leases (Topic 842) . Employee Share-Based Payment Accounting On March 30, 2016, the FASB issued ASU No. 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting .

Significant Accounting Polici22

Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents and Restricted Cash	Cash and cash equivalents consist of the following: September 30, 2017 December 31, 2016 Cash $ 219,141 $ 1,127,530 Money market fund 36,378,328 13,864,727 Cash and cash equivalents 36,597,469 14,992,257 Restricted cash, current 200,000 150,000 Restricted cash, noncurrent — 50,000 Restricted cash 200,000 200,000 Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 36,797,469 $ 15,192,257
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2017 and 2016: Three Months Ended September 30 Nine Months Ended September 30 2017 2016 2017 2016 Basic and diluted net loss per share of common stock: Net loss $ (6,965,596 ) $ (5,346,768 ) $ (21,727,922 ) $ (12,428,400 ) Weighted average shares of common stock outstanding 50,221,597 43,783,504 48,946,335 40,059,364 Net loss per share of common stock-basic and diluted $ (0.14 ) $ (0.12 ) $ (0.44 ) $ (0.31 )
Potentially Dilutive Securities Excluded from Computation of Dilutive Weighted Average Shares Outstanding	The following potentially dilutive securities for the three and nine months ended September 30, 2017 and 2016 have been excluded from the computation of dilutive weighted average shares outstanding for the computation of dilutive net loss per share as the inclusion would be anti-dilutive Three and Nine Months Ended September 30, 2017 2016 Warrants 1,288,500 1,789,250 Stock options 7,724,779 5,932,679 Total 9,013,279 7,721,929

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2017
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	Property and equipment consisted of the following: September 30, 2017 December 31, 2016 Computer hardware and software $ 121,905 $ 96,131 Office furniture and equipment 284,558 259,138 Leasehold improvements 191,244 188,219 Construction in progress 38,920 — Property and equipment, gross 636,627 543,488 Less: accumulated depreciation (299,330 ) (108,237 ) Property and equipment, net $ 337,297 $ 435,251

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rent Commitments	Pursuant to the terms of the Company’s non-cancelable lease agreements in effect at September 30, 2017, the future minimum rent commitments are as follows: 2017 (remainder of year) $ 81,576 2018 432,889 2019 623,958 2020 784,243 2021 830,600 2022 855,150 Thereafter 1,935,339 Total $ 5,543,755
Schedule of Future Minimum Capital Lease Commitments	Pursuant to the terms of this capital lease agreement, the future minimum capital lease commitments are as follows as of September 30, 2017: 2017 (remainder of year) $ 1,136 2018 4,543 2019 379 Total future minimum lease payments 6,058 Less: interest (430 ) Future capital lease obligations 5,628 Less: current portion (4,146 ) Long-term portion $ 1,482

Notes Payable (Tables)

Notes Payable (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Schedule of Notes Payable	Notes payable consisted of the following: September 30, 2017 December 31, 2016 Notes payable $ — $ 271,757 Less: current portion — (271,757 ) Long term portion $ — $ —

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2017
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consisted of the following: September 30, 2017 December 31, 2016 Accrued clinical operations and trials costs $ 1,395,736 $ 1,647,490 Accrued product development costs 885,063 713,426 Accrued compensation 131,905 778,250 Accrued other 145,898 117,289 Total $ 2,558,602 $ 3,256,455

Development Award and Deferre27

Development Award and Deferred Revenue (Tables)	9 Months Ended
	Sep. 30, 2017
Deferred Revenue Disclosure [Abstract]
Schedule of Deferred Revenue	Deferred revenue consists of the following: September 30, 2017 December 31, 2016 Deferred revenue $ — $ 1,940,195 Less: current portion — (1,940,195 ) Long-term portion $ — $ —

Stock Options (Tables)

Stock Options (Tables)	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Assumptions Used Principally in Determining Fair Value of Options Granted	The weighted average of assumptions used principally in determining the fair value of options granted to employees and non-employees were as follows: Nine Months Ended September 30, 2017 2016 Risk free interest rate 2.13 % 1.65 % Expected dividend yield 0 % 0 % Expected term in years 6.5 7 6.74 Expected volatility 85.8 % 93.1 %
Summary of Option Activity	A summary of option activity for the nine months ended September 30, 2017 and is presented below: Options Shares Weighted Average Exercise Price Weighted Contractual Aggregate Intrinsic Value Outstanding at December 31, 2016 6,610,179 $ 2.54 Granted 1,423,000 8.42 Exercised (239,817 ) 0.42 Forfeited (68,583 ) 6.62 Outstanding at September 30, 2017 7,724,779 $ 3.66 7.93 $ 29,985,612 Vested at September 30, 2017 4,055,877 $ 1.61 7.16 $ 22,466,228

Liquidity (Details Narrative)

Liquidity (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Accumulated deficit	$ 55,004,411		$ 33,276,489
Proceeds from sale of stock	41,378,762	$ 15,235,283
Cash on hand	36,597,469		$ 14,992,257
Cystic Fibrosis Foundation Therapeutics Inc [Member]
Milestone payment	$ 500,000
Institutional Investors [Member] | October 26, 2017 [Member]
Number of common stock share sold	4,650,000
Purchase price per share	$ 7
Proceeds from sale of stock	$ 32,550,000
Institutional Investors [Member] | October 2017 Offering [Member] | October 26, 2017 [Member]
Number of common stock share sold	4,650,000
Purchase price per share	$ 7
Proceeds from sale of stock	$ 30,397,000

Significant Accounting Polici30

Significant Accounting Policies (Details Narrative)	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)$ / shares	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)Segment$ / sharesshares	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Significant Accounting Policies [Line Items]
Marketable investments	$ 0		$ 0		$ 0
Restricted cash					50,000
Operating segments | Segment			1
Valuation allowance			100.00%
Uncertain tax position	0		$ 0		0
Impairment charges	0	$ 0	0	$ 0
Proceeds from sale of stock			41,378,762	$ 15,235,283
Operating lease future non-cancelable lease payments amount	$ 5,543,755		$ 5,543,755
Institutional Investors [Member] | October 26, 2017 [Member]
Significant Accounting Policies [Line Items]
Number of common stock share sold | shares			4,650,000
Purchase price per share | $ / shares	$ 7		$ 7
Proceeds from sale of stock			$ 32,550,000
Institutional Investors [Member] | October 2017 Offering [Member] | October 26, 2017 [Member]
Significant Accounting Policies [Line Items]
Number of common stock share sold | shares			4,650,000
Purchase price per share | $ / shares	$ 7		$ 7
Proceeds from sale of stock			$ 30,397,000
Computer Hardware and Software [Member]
Significant Accounting Policies [Line Items]
Estimated useful life of all property and equipment			3 years
Corporate Credit Cards [Member]
Significant Accounting Policies [Line Items]
Restricted cash	$ 150,000		$ 150,000		$ 150,000
Maximum [Member]
Significant Accounting Policies [Line Items]
Cash and cash equivalents maturity period			3 months
Maximum [Member] | Office Furniture and Equipment [Member]
Significant Accounting Policies [Line Items]
Estimated useful life of all property and equipment			5 years
Minimum [Member]
Significant Accounting Policies [Line Items]
Marketable investments maturity period			3 months
Minimum [Member] | Office Furniture and Equipment [Member]
Significant Accounting Policies [Line Items]
Estimated useful life of all property and equipment			3 years

Significant Accounting Polici31

Significant Accounting Policies - Schedule of Cash and Cash Equivalents and Restricted Cash (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Cash and Cash Equivalents [Abstract]
Cash	$ 219,141	$ 1,127,530
Money market fund	36,378,328	13,864,727
Cash and cash equivalents	36,597,469	14,992,257
Restricted cash, current	200,000	150,000
Restricted cash, noncurrent		50,000
Restricted cash	200,000	200,000
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$ 36,797,469	$ 15,192,257	$ 19,095,723	$ 12,374,650

Significant Accounting Polici32

Significant Accounting Policies - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Net loss	$ (6,965,596)	$ (5,346,768)	$ (21,727,922)	$ (12,428,400)
Weighted average shares of common stock outstanding	50,221,597	43,783,504	48,946,335	40,059,364
Net loss per share of common stock-basic and diluted	$ (0.14)	$ (0.12)	$ (0.44)	$ (0.31)

Significant Accounting Polici33

Significant Accounting Policies - Potential Dilutive Securities Excluded from Computation of Dilutive Weighted Average Shares Outstanding (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential dilutive securities excluded from computation of dilutive weighted average shares outstanding	9,013,279	7,721,929	9,013,279	7,721,929
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential dilutive securities excluded from computation of dilutive weighted average shares outstanding	1,288,500	1,789,250	1,288,500	1,789,250
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential dilutive securities excluded from computation of dilutive weighted average shares outstanding	7,724,779	5,932,679	7,724,779	5,932,679

Property and Equipment (Details

Property and Equipment (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Dec. 30, 2015
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 126,641	$ 20,464	$ 191,093	$ 57,695
Cost of machine	$ 636,627		$ 636,627		$ 543,488
Copier Machine [Member]
Property, Plant and Equipment [Line Items]
Cost of machine						$ 12,000
Lease term			3 years

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 636,627	$ 543,488
Less: accumulated depreciation	(299,330)	(108,237)
Property and equipment, net	337,297	435,251
Computer Hardware and Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	121,905	96,131
Office Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	284,558	259,138
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	191,244	188,219
Construction In Progress [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 38,920

Commitments and Contingencies36

Commitments and Contingencies (Details Narrative)	Aug. 21, 2017USD ($)ft²	Sep. 30, 2016USD ($)ft²	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)
Commitment And Contingencies [Line Items]
Area of office space | ft²		10,414
Rent expense			$ 92,671	$ 37,666	$ 209,687	$ 111,878
August 2017 Lease Agreement [Member]
Commitment And Contingencies [Line Items]
Area of office space | ft²	32,733
Irrevocable letter of credit	$ 400,000
Incurred interest expense			$ 8,669		$ 8,669
August 2017 Lease Agreement [Member] | Third Anniversary [Member]
Commitment And Contingencies [Line Items]
Irrevocable letter of credit	300,000
August 2017 Lease Agreement [Member] | Fourth Anniversary [Member]
Commitment And Contingencies [Line Items]
Irrevocable letter of credit	200,000
August 2017 Lease Agreement [Member] | First Year [Member]
Commitment And Contingencies [Line Items]
Rent expense	470,000
August 2017 Lease Agreement [Member] | Seventh Year [Member]
Commitment And Contingencies [Line Items]
Rent expense	$ 908,341
September 2016 Amendment [Member]
Commitment And Contingencies [Line Items]
Area of office space | ft²		4,088
Operating lease expiration date		Jan. 31, 2021
Standby letters of credit		$ 50,000		$ 50,000		$ 50,000

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Future Minimum Rent Commitments (Details)	Sep. 30, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
2017 (remainder of year)	$ 81,576
2,018	432,889
2,019	623,958
2,020	784,243
2,021	830,600
2,022	855,150
Thereafter	1,935,339
Total	$ 5,543,755

Commitments and Contingencies38

Commitments and Contingencies - Schedule of Future Minimum Capital Lease Commitments (Details) - Copier Machine [Member]	Sep. 30, 2017USD ($)
Commitment And Contingencies [Line Items]
2017 (remainder of year)	$ 1,136
2,018	4,543
2,019	379
Total future minimum lease payments	6,058
Less: interest	(430)
Future capital lease obligations	5,628
Less: current portion	(4,146)
Long-term portion	$ 1,482

Notes Payable (Details Narrativ

Notes Payable (Details Narrative) - USD ($)	1 Months Ended		3 Months Ended		9 Months Ended
	Oct. 31, 2016	Nov. 30, 2015	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Debt Instrument [Line Items]
Prepaid expenses			$ 30,000		$ 30,000		$ 378,750
Interest expense for notes payable			$ 73	$ 63	$ 2,042	$ 1,760
Three Point Two Five Percent Notes Payable [Member] | Notes Payable Other Payables [Member]
Debt Instrument [Line Items]
Proceeds from issuance of notes payable		$ 207,750
Principal and interest payable		$ 23,397
Monthly loan payments term		9 months
Annual interest rate		3.25%
Two Point Two Five Percent Notes Payable [Member] | Notes Payable Other Payables [Member]
Debt Instrument [Line Items]
Proceeds from issuance of notes payable	$ 348,750
Principal and interest payable	$ 39,114
Monthly loan payments term	9 months
Annual interest rate	2.25%

Notes Payable - Schedule of Not

Notes Payable - Schedule of Notes Payable (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
Notes payable		$ 271,757
Less: current portion		(271,757)
Long term portion

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Payables and Accruals [Abstract]
Accrued clinical operations and trials costs	$ 1,395,736	$ 1,647,490
Accrued product development costs	885,063	713,426
Accrued compensation	131,905	778,250
Accrued other	145,898	117,289
Total	$ 2,558,602	$ 3,256,455

Development Award and Deferre42

Development Award and Deferred Revenue (Details Narrative)	Jan. 31, 2017USD ($)	Aug. 31, 2016USD ($)	Apr. 20, 2015USD ($)Installments	Nov. 30, 2015USD ($)	May 31, 2015USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)
Development Award [Line Items]
Revenue						$ 796,312	$ 742,558	$ 2,440,195	$ 1,535,754
Cystic Fibrosis Foundation Therapeutics Inc [Member]
Development Award [Line Items]
Amount received upon execution of award agreement	$ 1,000,000	$ 1,000,000		$ 1,250,000	$ 1,250,000
Deferred revenue						$ 500,000		500,000
Cystic Fibrosis Foundation Therapeutics Inc [Member] | November 2017 [Member]
Development Award [Line Items]
Milestone payment								$ 500,000
Oral Anti-inflammatory Drug [Member] | Cystic Fibrosis Foundation Therapeutics Inc [Member]
Development Award [Line Items]
Amount received upon execution of award agreement			$ 5,000,000
Oral Anti-inflammatory Drug [Member] | Maximum [Member]
Development Award [Line Items]
Development award received			$ 5,000,000
Anabasum [Member]
Development Award [Line Items]
Number of installments | Installments			3
Payment due period after the first commercial sale			90 days
Royalty payment, sales target			$ 500,000,000
Anabasum [Member] | Upon Transfer Sale Or Licensing [Member]
Development Award [Line Items]
Royalty payable			15,000,000
Anabasum [Member] | Maximum [Member] | Upon Commercialization Of The Product [Member]
Development Award [Line Items]
Royalty payable			25,000,000
Anabasum [Member] | Maximum [Member] | Upon Reaching The Sales Target [Member]
Development Award [Line Items]
Royalty payable			$ 5,000,000

Development Award and Deferre43

Development Award and Deferred Revenue - Schedule of Deferred Revenue (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Deferred Revenue Disclosure [Abstract]
Deferred revenue		$ 1,940,195
Less: current portion		(1,940,195)
Long-term portion

Common Stock (Details Narrative

Common Stock (Details Narrative) - USD ($)	Feb. 28, 2017	Nov. 30, 2016	Sep. 30, 2017	Mar. 31, 2017	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Common stock, shares authorized			150,000,000		150,000,000		150,000,000
Common stock, par value			$ 0.0001		$ 0.0001		$ 0.0001
Common stock, shares issued			50,223,010		50,223,010		44,681,745
Common stock, shares outstanding			50,223,010		50,223,010		44,681,745
Stock issuance cost					$ 492,674
Aggregate common stock sold, value					40,446,622
Proceeds from sale of common stock net					$ 41,378,762	$ 15,235,283
Issuance of common stock upon exercise of stock options, Shares			2,500		239,817
Proceeds from exercise of stock options			$ 8,250		$ 109,053
Institutional Investors [Member] | October 26, 2017 [Member]
Stock issuance cost					2,153,000
Proceeds from sale of common stock net					$ 32,550,000
Number of common stock share sold					4,650,000
Purchase price per share			$ 7		$ 7
Options to purchase shares of common stock					697,500
Securities Purchase Agreement [Member] | Institutional And Accredited Investors [Member]
Aggregate common stock sold, shares	3,887,815
Shares issued price per share	$ 7
Gross proceeds from sale of stock	$ 27,214,705
Stock issuance cost	$ 36,291
Sales Agreement [Member]
Aggregate common stock sold, shares				1,413,633
Shares issued price per share				$ 9.71
Gross proceeds from sale of stock				$ 13,724,591
Proceeds from sale of common stock net				$ 13,268,208
Sales Agreement [Member] | Cantor Fitzgerald [Member]
Aggregate common stock sold, value		$ 15,400,000
Commission paid percentage		3.00%
Sales Agreement [Member] | Cantor Fitzgerald [Member] | Maximum [Member]
Aggregate offering amount		$ 35,000,000

Stock Options (Details Narrativ

Stock Options (Details Narrative) - USD ($)	Jan. 02, 2016	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Jan. 02, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 1,351,284	$ 828,097	$ 4,233,511	$ 1,522,345
Forfeitures estimated, percentage				5.00%
Weighted average grant-date fair value, options granted				$ 6.22	$ 2.85
Average intrinsic value of options exercised				$ 1,935,624	$ 610,608
Total unrecognized compensation expense		12,809,402		$ 12,809,402
Share-based compensation expense, not yet recognized period of recognition				3 years 18 days
Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		1,213,552	813,200	$ 3,302,437	1,377,811
Non-Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 137,732	$ 14,897	$ 931,073	$ 144,534
2014 Equity Incentive Plan [Member] | Condition One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increases in number of shares of common stock available for issuance, minimum percentage of outstanding common stock						7.00%
2014 Equity Incentive Plan [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option expiration period						10 years
Expected term in years						6 years 2 months 30 days
Evergreen Provision [Member] | 2014 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in number of shares of common stock available for issuance	1,250,000					3,127,722
Aggregate common stock available for stock options granted, shares						9,916,017	13,043,739
Shares available for grant		4,613,438		4,613,438		2,840,133	5,967,855
Percentage of outstanding common shares						7.00%

Stock Options - Summary of Assu

Stock Options - Summary of Assumptions Used Principally in Determining Fair Value of Options Granted (Details)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate	2.13%	1.65%
Expected dividend yield	0.00%	0.00%
Expected term in years	6 years 6 months 25 days	6 years 8 months 26 days
Expected volatility	85.80%	93.10%
Non-Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate	2.13%	1.65%
Expected dividend yield	0.00%	0.00%
Expected term in years	6 years 6 months 25 days	6 years 8 months 26 days
Expected volatility	85.80%	93.10%

Stock Options - Summary of Opti

Stock Options - Summary of Option Activity (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Shares Outstanding, Beginning balance		6,610,179
Shares, Granted		1,423,000
Shares, Exercised	(2,500)	(239,817)
Shares, Forfeited		(68,583)
Shares Outstanding, Ending balance	7,724,779	7,724,779
Shares, Vested		4,055,877
Weighted Average Exercise Price Outstanding, Beginning balance		$ 2.54
Weighted Average Exercise Price, Granted		8.42
Weighted Average Exercise Price, Exercised		0.42
Weighted Average Exercise Price, Forfeited		6.62
Weighted Average Exercise Price Outstanding, Ending balance	$ 3.66	3.66
Weighted Average Exercise Price, Vested	$ 1.61	$ 1.61
Weighted Average Remaining Contractual Term in Years, Outstanding		7 years 11 months 4 days
Weighted Average Remaining Contractual Term in Years, Vested		7 years 1 month 27 days
Average Intrinsic Value, Outstanding	$ 29,985,612	$ 29,985,612
Average Intrinsic Value, Vested	$ 22,466,228	$ 22,466,228

Warrants (Details Narrative)

Warrants (Details Narrative) - $ / shares	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Equity [Abstract]
Warrants outstanding to purchase of common stock shares	1,288,500
Weighted average exercise price of warrants	$ 1
Weighted average remaining life of warrants	1 year 7 months 28 days
Warrants to purchase of common stock shares	178,750
Issuance of common stock shares exercised on cashless basis		161,591
Number of common stock were exercised on a cash basis		1,250
Number of warrants issued
Number of warrants cancelled

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 20, 2016	Mar. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Related Party Transaction [Line Items]
Options granted exercise price			$ 8.42
Stock-based compensation expense		$ 171,000		$ 222,000
2014 Equity Compensation Plan [Member]
Related Party Transaction [Line Items]
Option vested percentage			50.00%
Options granted exercise price			$ 7.14
Orchestra Medical Ventures L L C [Member] | 2016 Consulting Agreement [Member]
Related Party Transaction [Line Items]
Cash compensation amount	$ 100,000
Agreement expiry date	Mar. 20, 2017
Options to purchase, shares	50,000

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)	Oct. 26, 2017	Sep. 30, 2017	Sep. 30, 2016
Proceeds from sale of stock		$ 41,378,762	$ 15,235,283
Stock issuance cost		$ 492,674
Subsequent Event [Member] | Institutional Investors [Member]
Number of common stock share sold	4,650,000
Purchase price per share	$ 7
Proceeds from sale of stock	$ 32,550,000
Stock issuance cost	$ 2,153,000
Options to purchase shares of common stock	697,500