Annual report pursuant to Section 13 and 15(d)

10. INCOME TAXES (Tables)

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10. INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2016
Income Tax Disclosure [Abstract]  
Schedule of reconciliation of income taxes
    Year Ended December 31,
    2016   2015
Benefit at U.S. Federal statutory rate   $ (6,635,151 )   $ (6,109,776 )
State taxes - deferred     (266,312 )     (124,874 )
Increase in valuation allowance, inclusive of true-ups     5,755,413       6,021,614  
Research and development credits     (322,499 )     (389,355 )
Other     1,468,549       602,391  
Benefit for income taxes   $ —       $ —    
Schedule of deferred tax asset
    December 31,
    2016   2015
Federal and state net operating loss carryforwards   $ 30,843,479     $ 25,834,860  
Federal and state research credits     4,099,249       4,353,534  
Transaction costs     652,695       —    
Deferred revenue     972,345       1,020,872  
Accrued expenses and other     747,586       350,675  
Total gross deferred tax assets     37,315,354       31,559,941  
Less: valuation allowance for deferred tax assets     (37,315,354 )     (31,559,941 )
Net deferred tax assets   $ —       $ —