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Consolidated Balance Sheets (USD $)
Mar. 31, 2014
Dec. 31, 2013
Current Assets:    
Cash and cash equivalents $ 7,081,051 $ 8,055,385
Cash restricted pursuant to letters of credit 52,488 302,488
Current portion of deferred financing costs 968,004 968,004
Prepaid expenses and other current assets 118,202 49,221
Total current assets 8,219,745 9,375,098
Property and Equipment, at cost:    
Computer equipment 323,488 323,488
Office and laboratory equipment (including assets under capitalized leases) 728,152 728,152
Furniture and fixtures 755,444 755,444
Manufacturing equipment 111,980 111,980
Leasehold improvements 825,589 825,589
Property and equipment, at cost 2,744,653 2,744,653
Less-Accumulated depreciation and amortization (1,348,746) (1,248,846)
Net property and equipment (including assets under capitalized leases) 1,395,907 1,495,807
Other Assets:    
Restricted cash 10,490 10,490
Intangible assets, net of accumulated amortization 9,625,000 9,625,000
Deferred financing costs 2,339,323 2,581,324
Other assets 1,576 1,576
Total other assets 11,976,389 12,218,390
Total assets 21,592,041 23,089,295
Current Liabilities:    
Accounts payable 704,240 1,036,320
Deferred revenue from licensing arrangements, current portion 76,428 76,428
Current portion of capital lease obligation 689 1,361
Derivative warrant liability 979,155 1,119,155
Accrued expenses and other current liabilities 824,712 1,411,107
Total current liabilities 2,585,224 3,644,371
Capital lease obligation, net of current portion 57,321 76,428
Note payable, net of discount 2,642,545 3,720,799
Deferred revenue from licensing arrangements, net of current portion 57,321 76,428
Total liabilities 2,642,545 3,720,799
Convertible Preferred Stock:    
Series C, $0.01 par value, authorized 10,000 shares, issued and outstanding 1,000 shares at March 31, 2014 and December 31, 2013 10 10
Series D, $0.01 par value, authorized 3,600,000 shares, issued and outstanding 1,000,000 shares at March 31, 2014 and December 31, 2013(preference in liquidation of $1,000,000) 10,000 10,000
Series E, $0.01 par value, authorized 1,748,613 shares, issued and outstanding 1,748,613 shares at March 31, 2014 and December 31, 2013 17,486 17,486
Common stock, $0.01 par value, authorized 150,000,000 shares, issued and outstanding 11,967,414 and 11,776,578 shares at March 31, 2014 and December 31, 2013, respectively 119,672 117,764
Additional paid-in capital 133,044,781 132,192,648
Common stock subscription 1,500,000   
Accumulated deficit (115,742,453) (112,969,412)
Total stockholders' equity 18,949,496 19,368,496
Total liabilities and stockholders' equity $ 21,592,041 $ 23,089,295