XML 42 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Balance Sheets (USD $)
Dec. 31, 2012
Dec. 31, 2011
Current Assets:    
Cash and cash equivalents $ 3,747,210 $ 8,995,571
Cash restricted pursuant to letters of credit 407,463 250,000
Accounts receivable    37,065
Stock subscriptions receivable    6,667
Current portion of deferred financing costs 968,004 100,458
Prepaid expenses and other current assets 75,626 173,750
Total current assets 5,198,303 9,563,511
Property and Equipment, at cost:    
Computer equipment 367,854 298,290
Office and laboratory equipment (including assets under capitalized leases) 732,296 624,817
Furniture and fixtures 728,269 186,837
Manufacturing equipment 156,435 156,435
Leasehold improvements 818,939 187,264
Property and equipment, at cost 2,803,793 1,453,643
Less-Accumulated depreciation and amortization (1,165,398) (1,135,912)
Net property and equipment (including assets under capitalized leases) 1,638,395 317,731
Other Assets:    
Restricted cash 9,740 19,739
Intangible assets, net of accumulated amortization 9,625,000 9,625,000
Deferred financing costs 3,549,328   
Other assets 826 826
Total other assets 13,184,894 9,645,565
Total assets 20,021,592 19,526,807
Current Liabilities:    
Accounts payable 2,319,219 365,298
Deferred revenue from licensing agreements 90,228 123,708
Current portion of capital lease obligation 2,527 2,288
Derivative warrant liability 5,585,141 1,035,337
Accrued expenses and other liabilities 1,581,448 965,832
Total current liabilities 9,578,563 2,492,463
Capital lease obligation, net of current portion 1,361 3,888
Note payable, net of discount 120,834   
Deferred revenue from licensing arrangements, net of current portion 90,228 61,867
Total liabilities 9,790,986 2,558,218
Series C, $0.01 par value, authorized 10,000 shares, issued and outstanding 9,974.185 at December 31, 2012 and 2011 100 100
Series D, $0.01 par value, authorized 3,600,000 shares, issued and outstanding 3,006,000 at December 31, 2012 and 2011 (preference in liquidation of $3,006,000) 30,060 30,060
Common stock, $0.01 par value, authorized 150,000 shares, issued and outstanding 44,373,461 and 38,543,944 shares at December 31, 2012 and 2011, respectively 443,737 385,442
Additional paid-in capital 103,658,724 98,116,327
Common stock subscribed for but not paid for or issued, 33,333 shares at December 31, 2011    6,667
Accumulated deficit (93,902,015) (81,570,007)
Total stockholders' equity 10,230,606 16,968,589
Total liabilities and stockholders' equity $ 20,021,592 $ 19,526,807