Fair Value Disclosures (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents the Company’s financial assets and liabilities that are measured at fair value on a recurring basis:

			Fair value measurements using:
	Fair Value		Level 1		Level 2		Level 3
March 31, 2015:
Cash equivalents:
Money market funds	$	189,036	$	189,036		—		—
Current liabilities:
Contingent consideration	$	10,000		—		—	$	10,000
Long-term liabilities
Contingent consideration	$	100,000		—		—	$	100,000
December 31, 2014:
Cash equivalents:
Money market funds	$	189,031	$	189,031		—		—
Current liabilities:
Contingent consideration	$	10,000		—		—	$	10,000
Long-term liabilities
Contingent consideration	$	96,000		—		—	$	96,000

Schedule of Undiscounted Amount of Contingent Consideration

The aggregate remaining, undiscounted amount of contingent consideration that the Company could potentially be required to pay to CureTech under the License Agreement is included in the table below:

Potential sales milestones	$	245,000
Potential development and regulatory milestones	$	85,000
Potential payment upon completion of Manufacturing Technology Transfer	$	5,000
Potential future tiered royalties on annual worldwide net sales		5% to 11	%

Schedule of Roll-forward of Fair Value of Level 3 Instruments

The following table includes a roll-forward of the fair value of Level 3 financial instruments:

	Three Months Ended March 31,
	2015		2014
Long-Term Liabilities (Contingent Consideration):
Balance at beginning of period	$	96,000	$	—
Amounts acquired or issued		—		—
Net change in fair value		4,000		—
Settlements		—		—
Transfers in and/or out of Level 3		—		—
Balance at end of period	$	100,000	$	—

Fair Value of Other Financial Instruments Not Measured on Recurring Basis

The following table presents the total balance of the Company’s other financial instruments that are not measured at fair value on a recurring basis.

			Fair value measurements using:
	Total Balance		Level 1		Level 2		Level 3
March 31, 2015:
Assets:
Bank deposits (included in “Cash and cash equivalents”)	$	379,600	$	379,600		—		—
Liabilities:
Convertible Notes	$	472,974		—	$	472,974		—
December 31, 2014:
Assets:
Bank deposits (included in “Cash and cash equivalents”)	$	313,646	$	313,646		—		—
Liabilities:
Convertible Notes	$	359,219		—	$	359,219		—