Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 29,349,124 $ 18,474,211
Prepaid expenses and other current assets 2,311,385 1,331,214
Total current assets 31,660,509 19,805,425
Property and equipment, net 2,162,771 2,052,221
Other non-current assets 126,781  
Total assets 33,950,061 21,857,646
Current liabilities:    
Trade accounts payable 1,058,536 1,260,015
Accrued expenses and other current liabilities 1,739,380 986,620
Bank loan, including accrued interest, current portion 0 1,270,605
Total current liabilities 2,797,916 3,517,240
Accrued expenses and other non-current liabilities 23,852 333,988
Total liabilities 2,821,768 3,851,228
Stockholders' equity:    
Common stock, $0.001 par value per share, 300,000,000 shares authorized and 39,833,023 and 29,279,522 shares issued and outstanding at December 31, 2015 and 2014 39,833 29,280
Additional paid-in capital 112,226,723 84,627,283
Accumulated other comprehensive loss (1,272,574) (843,097)
Accumulated deficit (79,865,689) (65,807,048)
Total stockholders' equity 31,128,293 18,006,418
Total liabilities and stockholders' equity $ 33,950,061 $ 21,857,646