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Condensed Consolidated Statements of Cash Flows (USD $)
9 Months Ended 22 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:      
Consolidated net loss $ (14,814,358) $ (22,680,898) $ (41,886,381)
Adjustments to reconcile consolidated net loss to net cash used in operating activities:      
Stock compensation expense 4,256,000 2,178,590 7,764,676
Noncash stock expense associated with in-licensing agreement 0 16,578,000 16,875,000
Impairment of in-process research and development 0 0 1,104,700
Depreciation 634 118 869
Change in fair value of notes payable (210,052) (284,297) (1,025,751)
Changes in assets and liabilities, net of effects of acquisition:      
Decrease (increase) in other current assets 1,589,950 (1,697,304) (339,167)
Increase in other assets (85,121) 0 (85,121)
Increase in accounts payable and accrued expenses 3,412,916 1,505,531 4,416,983
Increase in interest payable 49,240 45,628 117,908
(Decrease) increase in deferred revenue (114,286) 0 1,866,666
Net cash used in operating activities (5,915,077) (4,354,632) (11,189,618)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property, plant and equipment (3,299) (1,399) (4,698)
Cash acquired in connection with acquisition 0 0 10,386
Net cash (used in) provided by investing activities (3,299) (1,399) 5,688
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from the exercise of warrants 1,997,498 0 1,997,498
Payments of short-term loans 0 (200,000) (200,001)
Proceeds from sale of common stock, net 37,648,280 0 47,472,962
Proceeds from sale of preferred stock, net 0 12,257,309 12,257,309
Offering costs paid 0 (75,903) (75,903)
Purchase of treasury stock 0 0 (84,538)
Net cash provided by financing activities 39,645,778 11,981,406 61,367,327
NET INCREASE IN CASH AND CASH EQUIVALENTS 33,727,402 7,625,375 50,183,397
Cash and cash equivalents at beginning of period 16,455,995 9,748,491 0
CASH AND CASH EQUIVALENTS AT END OF PERIOD 50,183,397 17,373,866 50,183,397
NONCASH TRANSACTIONS:      
Conversion of notes payable to preferred stock 0 0 55,271
Accrued financing costs $ 0 $ 0 $ 61,138