0001144204-13-062733.txt : 20131118 0001144204-13-062733.hdr.sgml : 20131118 20131118142957 ACCESSION NUMBER: 0001144204-13-062733 CONFORMED SUBMISSION TYPE: 10-Q/A PUBLIC DOCUMENT COUNT: 7 CONFORMED PERIOD OF REPORT: 20130930 FILED AS OF DATE: 20131118 DATE AS OF CHANGE: 20131118 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BIO-PATH HOLDINGS INC CENTRAL INDEX KEY: 0001133818 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-MISCELLANEOUS SHOPPING GOODS STORES [5940] IRS NUMBER: 870652870 STATE OF INCORPORATION: UT FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q/A SEC ACT: 1934 Act SEC FILE NUMBER: 000-53404 FILM NUMBER: 131226576 BUSINESS ADDRESS: STREET 1: 2626 SOUTH LOOP, SUITE 180 CITY: HOUSTON STATE: TX ZIP: 77054 BUSINESS PHONE: 8329716616 MAIL ADDRESS: STREET 1: 2626 SOUTH LOOP, SUITE 180 CITY: HOUSTON STATE: TX ZIP: 77054 FORMER COMPANY: FORMER CONFORMED NAME: OGDEN GOLF CO CORP DATE OF NAME CHANGE: 20010205 10-Q/A 1 v360631_10qa.htm 10-Q/A

  

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q/A

(Amendment No. 1)

 

(Mark One)

 

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended September 30, 2013

 

Or

 

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from ________________________

 

Commission file number: 000-53404

 

Bio-Path Holdings, Inc.

(Exact name of registrant as specified in its charter)

 

Utah   87-0652870
(State or other jurisdiction of   (I.R.S. employer
incorporation or organization)   identification no.)

 

2626 South Loop, Suite 180, Houston, TX 77054

(Address of principal executive offices)

 

Registrant's telephone no., including area code: (832) 971 -6616

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes      x      No      ¨

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  Yes      x      No      ¨

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer  ¨ Accelerated filer  ¨
Non-accelerated filer    ¨  (Do not check if a smaller reporting company) Smaller reporting company  x

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes      ¨      No      x

 

At November 12, 2013, the Company had 84,237,872 outstanding shares of common stock, no par value.

 

 
 

 

EXPLANATORY NOTE

  

Bio-Path Holdings, Inc. (the “Company”) is filing this Amendment No. 1 to its Quarterly Report on Form 10-Q for the quarter ended September 30, 2013, filed with the Securities and Exchange Commission on November 14, 2013 (“Form 10-Q”), for the sole purpose of furnishing the interactive data files marked as Exhibits 101.INS, 101.SCH, 101.CAL, 101.DEF, 101.LAB and 101.PRE and formatted in XBRL (eXtensible Business Reporting Language).

 

No other changes have been made to the Form 10-Q. This Amendment No. 1 speaks only as of the original filing date of the Form 10-Q, does not reflect events that may have occurred subsequent to such original filing date and does not modify or update in any way disclosures made in the Form 10-Q.

 

PART III

 

ITEM 6.  EXHIBITS

 

Exhibit No.   Description of Exhibit
31*   Certification of Chief Executive Officer and Chief Financial Officer Pursuant to Section 302 of the Sarbanes Oxley Act of 2002.
32*   Certification of Chief Executive Officer and Chief Financial Officer Pursuant to Section 906 of the Sarbanes Oxley Act of 2002.
99.1*   Temporary Hardship Exemption
101.INS**   XBRL Instance Document
101.SCH**   XBRL Taxonomy Schema Document
101.CAL**   XBRL Taxonomy Calculation Linkbase Document
101.DEF**   XBRL Taxonomy Definition Linkbase Document
101.LAB**   XBRL Taxonomy Label Linkbase Document
101.PRE**   XBRL Taxonomy Presentation Linkbase Document

 

* Previously filed as an exhibit to the Form 10-Q.

** Filed herewith. Pursuant to Rule 406T of Regulation S-T, the interactive data files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.  

 

 
 

 

SIGNATURE

 

In accordance with the requirements of the Exchange Act, the Company has caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

Dated: November 18, 2013 BIO-PATH HOLDINGS, INC.
   
  By /s/ Peter H. Nielsen
    Chief Executive Officer, President/Principal Executive
    Officer, Chief Financial Officer, Principal Financial Officer

 

 

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In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature. The unaudited quarterly financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Annual Report on Form 10-K of Bio-Path Holdings, Inc. (together with its subsidiary, &#8220;Bio-Path&#8221; or the &#8220;Company&#8221;) as of and for the fiscal year ended December 31, 2012. 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The Company was founded with technology from The University of Texas, MD Anderson Cancer Center (&#8220;MD Anderson&#8221;) and is dedicated to developing novel cancer drugs under an exclusive license arrangement. The Company has drug delivery platform technology with composition of matter intellectual property for systemic delivery of antisense. Bio-Path also plans to investigate developing liposome tumor targeting technology, which has the potential to be developed to augment the Company&#8217;s current delivery technology to improve further the effectiveness of its antisense. In addition to its existing technology under license, the Company expects to maintain a close working relationship with key members of the MD Anderson staff, which has the potential to provide Bio-Path with additional drug candidates in the future. 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The Company&#8217;s two lead liposomal antisense drug candidates are targeted to treat acute myeloid leukemia, myelodysplastic syndrome, chronic myelogenous leukemia, acute lymphoblastic leukemia and follicular lymphoma, and if successful, could potentially be used in treating many other indications of cancer. For example, recently in July of 2013 Bio-Path announced that it was initiating development of its lead cancer drug Liposomal Grb-2 to treat triple negative breast cancer (TNBC) and inflammatory breast cancer (IBC), two cancers characterized by formation of aggressive tumors and relatively high mortality rates.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Bio-Path is currently treating patients with its lead cancer drug candidate Liposomal Grb-2 in a Phase I clinical trial. In March of 2010, Bio-Path received written notification from the U.S. Food and Drug Administration (the &#8220;FDA&#8221;) that its application for Investigational New Drug (&#8220;IND&#8221;) status for L-Grb-2 had been granted. 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In addition, patient blood samples from the trial will be tested using a new assay developed by the Company to measure down-regulation of the target protein, the critical scientific data that will demonstrate that the delivery technology does in fact successfully deliver the antisense drug substance to the cell and across the cell membrane into the interior of the cell where expression of the target protein is blocked. The clinical trial is being conducted at The University of Texas MD Anderson Cancer Center.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"> &#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The original IND granted by the FDA in March of 2010 allowed the Company to proceed with a Phase I clinical trial having five (5) cohorts culminating in a maximum dose of 50 mg/m<sup>2</sup>. 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These are patients with very advanced stages of the disease, and consequently, not all patients enrolled are able to complete the four-week treatment cycle because of progressive disease, which is unrelated to the treatment with Liposomal-Grb-2.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">An important outcome for the Phase I clinical trial is the ability to assess for the first time the performance of the Company&#8217;s delivery technology platform in human patients. The Company has developed two new assays to be able to provide scientific proof of concept of the delivery technology. The first involves a novel detection method for the drug substance in blood samples that will be used to assess the pharmacokinetics of the drug. The second involves a method to measure down-regulation of the target protein in a patient blood sample that was achieved. The latter measurement will provide critical proof that the neutral liposome delivery technology delivered the drug substance to the cell and was able to transport it across the cell membrane into the interior to block cellular production of the Grb-2 protein.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">In this regard, in August of 2013 Bio-Path announced that its liposomal delivery technology achieved a major milestone in the development of antisense therapeutics based on a scientific assay confirming that treating patients with its drug candidate BP-100-1.01 inhibits the Grb-2 disease-causing target protein in patients with blood cancers. Inhibition of the disease-causing protein has the effect of down regulating the disease. This will allow for Liposomal Grb-2 to be used potentially in combination with current frontline treatments. This discovery also points to the potential use of a liposomal antisense treatment as a standalone treatment to transform and manage a disease, which has a disease causing protein, as a chronic disorder. This accomplishment is potentially a significant breakthrough for antisense therapeutics, whose development, to date, as a class of therapeutics has been severely limited by a lack of a systemic delivery mechanism that can safely distribute the drug throughout the body and get the antisense drug substance across the cell membrane into the interior of the cell. Further, we expect that scientific proof of principal for our delivery technology may lead to licensing and business development opportunities, furthering our business model.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Being platform technology, a successful demonstration of the delivery technology in this study will allow the Company to begin expanding Bio-Path&#8217;s drug candidates by simply applying the delivery technology template to multiple new drug product targets. In this manner, Bio-Path can quickly build an attractive drug product pipeline with multiple drug product candidates for treating cancer as well as treating other important diseases including diabetes, cardiovascular conditions and neuromuscular disorders. Currently, the Company is researching potential targets for which it can apply its liposomal antisense drug delivery technology.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The Phase I clinical trial is typically ended when a maximum tolerated dose (MTD) is encountered. However, due to the lack of toxicity of the drug to date, it is not expected that a MTD will be encountered. As a result, the optimal biological dose will be determined and this dose will be used in the following Phase II clinical trial. The Company plans to evaluate patients at the close of Cohort 6 to evaluate whether the Phase I clinical trial should be ended at that time. It is expected that the down regulation assay will be a factor in the evaluation of whether we have reached optimal inhibition. It is noted, however, that the lack of toxicity is a major advantage for the drug candidate BP-100-1.01 since it allows higher levels of drug to be administered to the patient, increasing the potential therapeutic benefit.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Bio-Path has also been working with the Principal Investigator to finalize plans for Phase II clinical trials in Liposomal Grb-2. Significantly, these plans include three Phase II trials, one each for CML, AML and MDS, of the drug candidate Liposomal Grb-2 in salvage therapy for very advanced patients.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">At the end of January 2012, the Company&#8217;s Board of Directors held a strategic planning session. Among several topics was a discussion of Company&#8217;s liposomal siRNA technology. The siRNA discussion covered a broad range of topics including intellectual property, the amount of development that would be needed and the overall impression of diminishing acceptance of siRNA technology by the pharmaceutical industry and equity market investors. The Board compared this to our core liposomal antisense technology, which has a stronger intellectual property position, a method of action blocking expression of disease-causing proteins that is better understood in the scientific community and a much easier path for development than liposomal siRNA technology. Since both antisense and siRNA are means to block expression of disease-causing proteins, the Board concluded that there was no apparent reason to develop a second, higher-risk siRNA method of blocking protein expression when the development of the liposomal antisense method is now much further along and showing promising results. After this discussion the Board decided to discontinue development of the licensed liposomal siRNA technology and the Company commenced discussions regarding this decision with MD Anderson to determine with them whether to modify the license to include other products, postpone the license or simply abandon the license. As an interim step pending final resolution of this matter, the Company took a charge of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">345,000</font> at the end of the fiscal year ending December 31, 2011 to reduce the carrying value of the siRNA license by fifty percent (<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">50</font>%). This amount represented one half of the value of the common stock given to MD Anderson when the original siRNA license was finalized. 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A major part of the update on the Liposomal Grb-2 Phase I trial will be the inclusion of the results of testing of patient blood samples, which demonstrates significant inhibition of the disease causing protein Grb-2. This is a significant development which suggests the potential of Liposomal Grb-2 to inhibit AML and MDS in patients.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The Company was founded in May of 2007 as a Utah corporation. In February of 2008, Bio-Path completed a reverse merger with Ogden Golf Co. Corporation, a public company traded over the counter that had no current operations. The name of Ogden Golf was changed to Bio-Path Holdings, Inc. and the directors and officers of Bio-Path, Inc. became the directors and officers of Bio-Path Holdings, Inc. Bio-Path has become a publicly traded company (symbol OTCBB: BPTH) as a result of this merger. The Company&#8217;s operations to date have been limited to organizing and staffing the Company, acquiring, developing and securing its technology and undertaking product development for a limited number of product candidates including readying and now conducting a Phase I clinical trial in its lead drug product candidate Liposomal Grb-2.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">An important milestone was achieved for the Company in the second quarter, 2012 when Bio-Path&#8217;s common stock began trading on the quality-controlled OTCQX. OTCQX is the highest tier, premier trading platform for OTC companies. The Company also announced that it had retained Roth Capital Partners to serve as the Company&#8217;s Designated Advisor for Disclosure (&#8220;DAD&#8221;) on OTCQX, responsible for providing guidance on OTCQX requirements.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">As of September 30, 2013, Bio-Path had $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">4,100,841</font> in cash on hand. During the third quarter of 2013, the Company received approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">2.8</font> million in cash net of placement agent commissions from the sale of shares of common stock in a private placement.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"> &#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">As the Company has not begun its planned principal operations of commercializing a product candidate, the accompanying financial statements have been prepared in accordance with principles established for development stage enterprises.</div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in"> <div><b>2.</b></div> </td> <td> <div><b>Related Party</b></div> </td> </tr> </table> </div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>&#160;</b></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Based on its stock ownership in the Company, MD Anderson Cancer Center meets the criteria to be deemed a related party of Bio-Path Holdings. For the quarters ending September 30, 2013 and 2012, MD Anderson related party research and development expense was $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">15,000</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">47,582</font>, respectively. MD Anderson related party research and development expense for the quarter ending September 30, 2013 was comprised of MD Anderson clinical trial hospital expense of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">15,000</font>. As of September 30, 2013 accrued expense related party was $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">52,050</font> for MD Anderson clinical trial hospital expense and accrued license payments related party of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">50,000</font> for past patent expenses (See Notes 4., 5. and 6.). For the quarter ending September 30, 2012 related party research and development expense consisted of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">39,000</font> for expenses for treating patients in the Company&#8217;s clinical trial and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">8,582</font> for patent expenses. As of September 30, 2012, the Company had accrued expense of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">39,000</font> for clinical trial expense for the related party, $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">8,582</font> in related party accounts payable and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">50,000</font> in accrued license payments payable due to the related party for past patent expenses for the Company&#8217;s Technology License. See Notes 5 and 6.</div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> 8582 15000 47582 15000 52050 39000 8582 39000 50000 <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><strong>3. Prepaid Drug Product for Testing</strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Advance payments, including nonrefundable amounts, for goods or services that will be used or rendered for future R&amp;D activities are deferred and capitalized. Such amounts will be recognized as an expense as the related goods are delivered or the related services are performed. The Company incurred installments to its contract drug manufacturing and raw material suppliers totaling $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">195,000</font> during 2012 pursuant to a Drug Supply Contract (See Note 10.) for the manufacture and delivery of the Company&#8217;s lead drug product for testing in a Phase I clinical trial. This amount was carried on the Balance Sheet as of December 31, 2012 at cost as Prepaid Drug Product for Testing. This product was delivered to the Company in the first quarter of 2013 and costs associated with this drug batch were expensed. Another drug batch was in the process of starting to be produced in the third quarter of 2013 and installment costs totaling $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">148,301</font> are carried on the Balance Sheet as of September 30, 2013 as Prepaid Drug Product for Testing (See Note 10.).</div> </div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><b>4.</b><b>Accounts Payable</b></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">As of September 30, 2013, Current Liabilities included accounts payable of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">43,578</font> comprised primarily of approximate amounts owed to the Company&#8217;s drug substance manufacturer totaling $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">9,900</font>, $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">8,100</font> for consultants and advisors to the Company, <font style="COLOR: black">$<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">6,900</font> in services as the Company commenced development of a data management system for clinical trial patient data, $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">9,300</font> for legal fees and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">9,400</font> for communications, miscellaneous drug development and clinical trial expense.</font> As of December 31, 2012, Current Liabilities included accounts payable $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">57,000</font> and accounts payable related party of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">8,582</font>, which amounts were subsequently paid in 2013.</div> </div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> 43578 6900 9300 9400 57000 9900 8100 <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><b>5. 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In August of 2007, the Company issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 3,975,000</font> shares of common stock for $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">993,750</font> in cash to investors in the Company pursuant to a private placement memorandum. In August of 2007 the Company issued an additional <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 1,333,334</font> shares of common stock for $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">1,000,000</font> in cash to investors in the Company pursuant to a second round of financing. The Company issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 530,833</font> in common stock to the Placement Agent as commission for the shares of common stock sold to investors. In November of 2007, the Company issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 3,138,889</font> shares in common stock to MD Anderson as partial consideration for its two technology licenses from MD Anderson.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">In February of 2008, the Company completed a reverse merger with Ogden Golf Co. Corporation and issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 38,023,578</font> shares of common stock of the public company Bio-Path Holdings (formerly Ogden Golf Co. Corporation) in exchange for pre-merger common stock of Bio-Path, Inc. In addition, shareholders of Ogden Golf Co. Corporation retained <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 3,600,000</font> shares of common stock of Bio-Path Holdings. In February of 2008 Bio-Path issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 80,000</font> shares of common stock to strategic consultants pursuant to executed agreements and the fair value was expensed upfront as common stock for services. In April of 2008, the Company issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 200,000</font> shares of common stock to a firm in connection with introducing Bio-Path, Inc. to its merger partner Ogden Golf Co. Corporation. The fair value of this stock issuance was expensed upfront as common stock for services valued at $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">180,000</font>. 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In June of 2009, the Company issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 660,000</font> shares of common stock and warrants to purchase an additional <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 660,000</font> shares of common stock for $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">165,000</font> in cash to investors in the Company pursuant to a private placement memorandum. The warrants must be exercised within <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> two</font> years from the date of issuance. The exercise price of the warrants is $1.50 a share. In connection with this private placement, the Company issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 66,000</font> shares of common stock to the Placement Agent as commission for the shares of common stock sold to investors. 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In January 2010, the Company issued these investors <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2,700,000</font> shares of common stock and warrants to purchase an additional <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2,700,000</font> shares of common stock. The warrants must be exercised within <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> two</font> years from the date of issuance. The exercise price of the warrants is $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">1.50</font> a share. In January 2010, the Company also sold an additional <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 900,000</font> shares of common stock and warrants to purchase an additional <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 900,000</font> shares of common stock for $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">225,000</font> in cash to investors in the Company pursuant to a private placement memorandum. The warrants must be exercised within <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> two</font> years from the date of issuance and the exercise price is $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">1.50</font> a share. In connection with these private placement sales of equity, the Company issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 360,000</font> shares of common stock to the Placement Agent as commission for the shares of common stock sold to investors.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">In May of 2010, the Company issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 780,000</font> shares of common stock and warrants to purchase an additional <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 780,000</font> shares of common stock for $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">273,000</font> in cash to investors in the Company pursuant to a private placement memorandum. The warrants must be exercised within <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> two</font> years from the date of issuance. The exercise price of the warrants is $1.50 a share. In connection with this private placement, the Company issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 78,000</font> shares of common stock to the Placement Agent as commission for the shares of common stock sold to investors.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">In June of 2010, the Company signed an equity purchase agreement for up to $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">7</font> million with Lincoln Park Capital Fund, LLC (&#8220;LPC&#8221; or &#8220;Lincoln&#8221;), a Chicago-based institutional investor. Under the terms of the equity purchase agreement, the Company has the right to sell shares of its common stock to LPC from time to time over a 24-month period in amounts between $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">50,000</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">1,000,000</font> up to an aggregate amount of $7 million depending upon certain conditions set forth in the purchase agreement including that a registration statement related to the transaction has been declared effective by the U.S. Securities and Exchange Commission (&#8220;SEC&#8221;). As a result, a registration statement was filed and later declared effective by the SEC on July 12, 2010. Upon signing the agreement, the Company received $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">200,000</font> from LPC as an initial purchase in exchange for <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 571,429</font> shares (&#8220;Initial Purchase Shares&#8221;) of the Company&#8217;s common stock and warrants to purchase <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 571,429</font> shares of the Company&#8217;s common stock at an exercise price of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">1.50</font> per share. Subsequent purchases of the Company&#8217;s common stock by Lincoln Park under the agreement do not include warrants. In connection with the signing of the LPC financing agreement, the Company issued LPC <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 12,000</font> shares of the Company&#8217;s common stock for its due diligence efforts and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 566,801</font> shares of the Company&#8217;s common stock as a commitment fee for the balance of the $7 million equity purchase commitment.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">In July of 2010, the Company received $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">150,000</font> from LPC in exchange for <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 375,000</font> shares of the Company&#8217;s common stock. LPC was also issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 6,251</font> shares of the Company&#8217;s common stock as a commitment fee in connection with the purchase of the 375,000 shares of common stock. No warrants to purchase additional shares of common stock of the Company were issued to Lincoln in connection with the sale of the common stock.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">In September of 2010, the Company received $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">50,000</font> from LPC in exchange for 125,000 shares of the Company&#8217;s common stock. LPC was also issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2,084</font> shares of the Company&#8217;s common stock as a commitment fee in connection with the purchase of the <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 125,000</font> shares of common stock. No warrants to purchase additional shares of common stock of the Company were issued to Lincoln in connection with the sale of the common stock.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">In October of 2010, the Company received $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">50,000</font> from LPC in exchange for 135,135 shares of the Company&#8217;s common stock. LPC was also issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2,084</font> shares of the Company&#8217;s common stock as a commitment fee in connection with the purchase of the <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 135,135</font> shares of common stock. No warrants to purchase additional shares of common stock of the Company were issued to Lincoln in connection with the sale of the common stock.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">In November of 2010, the Company received $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">50,000</font> from LPC in exchange for 135,135 shares of the Company&#8217;s common stock. LPC was also issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2,084</font> shares of the Company&#8217;s common stock as a commitment fee in connection with the purchase of the <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 135,135</font> shares of common stock. No warrants to purchase additional shares of common stock of the Company were issued to Lincoln in connection with the sale of the common stock.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">From November 2010 through April of 2011 the Company sold shares of common stock for $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">1,794,205</font> in cash to investors pursuant to a private placement memorandum. In June of 2011, the Company issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 5,980,685</font> shares of common stock to these investors. In connection with this private placement, in June of 2011 the Company issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 598,069</font> shares of common stock to the Placement Agent as commission for the shares of common stock sold to investors. No warrants to purchase additional shares of common stock of the Company were issued to these investors in connection with the sale of the common stock.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">In June of 2011, the Company received $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">50,000</font> from LPC in exchange for <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 164,853</font> shares of the Company&#8217;s common stock. LPC was also issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2,084</font> shares of the Company&#8217;s common stock as a commitment fee in connection with the purchase of the 164,853 shares of common stock. No warrants to purchase additional shares of common stock of the Company were issued to Lincoln in connection with the sale of the common stock.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">In October of 2011, the Company issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 1,920,000</font> shares of common stock for $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">576,000</font> to investors who exercised warrants from September to October 2011.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">In November of 2011, the Company received $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">25,000</font> from LPC in exchange for <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 83,333</font> shares of the Company&#8217;s common stock. LPC was also issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 1,042</font> shares of the Company&#8217;s common stock as a commitment fee in connection with the purchase of the 83,333 shares of common stock. No warrants to purchase additional shares of common stock of the Company were issued to Lincoln in connection with the sale of the common stock.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">In December of 2011, the Company received $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">50,000</font> from LPC in exchange for <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 172,414</font> shares of the Company&#8217;s common stock. LPC was also issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2,084</font> shares of the Company&#8217;s common stock as a commitment fee in connection with the purchase of the 172,414 shares of common stock. No warrants to purchase additional shares of common stock of the Company were issued to Lincoln in connection with the sale of the common stock.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">In March of 2012, the Company received $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">50,000</font> from LPC in exchange for <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 166,667</font> shares of the Company&#8217;s common stock. LPC was also issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2,084</font> shares of the Company&#8217;s common stock as a commitment fee in connection with the purchase of the 166,667 shares of common stock. No warrants to purchase additional shares of common stock of the Company were issued to Lincoln in connection with the sale of the common stock.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">In April of 2012, LPC made three separate purchases of the Company&#8217;s common stock. The Company received $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">25,000</font> from LPC in exchange for <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 89,286</font> shares of the Company&#8217;s common stock. LPC was also issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 1,042</font> shares of the Company&#8217;s common stock as a commitment fee in connection with the purchase of the 89,286 shares of common stock. The Company received another $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">25,000</font> from LPC in exchange for <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 96,154</font> shares of the Company&#8217;s common stock. LPC was also issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 1,042</font> shares of the Company&#8217;s common stock as a commitment fee in connection with the purchase of the 96,154 shares of common stock. Finally, the Company received $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">50,000</font> from LPC in exchange for <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 185,185</font> shares of the Company&#8217;s common stock. LPC was also issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2,084</font> shares of the Company&#8217;s common stock as a commitment fee in connection with the purchase of the 185,185 shares of common stock. No warrants to purchase additional shares of common stock of the Company were issued to Lincoln in connection with the sale of the common stock.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">In June of 2012, the Company sold $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">150,000</font> in shares of its common stock pursuant to a private placement, with shares to be issued, and $18,500 in shares of its common stock for services with shares to be issued.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">In August of 2012, the Company issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 50,000</font> shares of its common stock for the $18,500 shares for services previously recognized in June 2012.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">In July through September of 2012, the Company sold $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">795,001</font> in shares of its common stock pursuant to a private placement, with shares to be issued.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">In October through December of 2012, the Company sold $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">708,600</font> in shares of its common stock pursuant to a private placement, with shares to be issued.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">As of December 31, 2012 the Company issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 3,300,337</font> shares of its common stock to investors who purchased shares of common stock from the period June through September of 2012.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">In February and March of 2013, the Company sold $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">346,201</font> in shares of its common stock pursuant to a private placement, with shares to be issued.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">In April and May of 2013, the Company sold $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">2,000,198</font> in shares of its common stock pursuant to a private placement, with shares to be issued, and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">489,501</font> in shares of its common stock pursuant in a direct offering, with shares to be issued.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">In June of 2013, the Company issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 11,664,665</font> shares of common stock to investors in connection with the private placement and direct offering. In June of 2013 the Company issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 1,496,499</font> shares of common stock to the Placement Agent as commission for the shares of common stock sold to investors. No warrants to purchase additional shares of common stock of the Company were issued to these investors or to the Placement Agent in connection with the sale of the common stock.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">In August and September of 2013, the Company sold $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">3,220,966</font> in shares of its common stock pursuant to a private placement, with shares to be issued.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">As of September 30, 2013, there were <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 75,380,214</font> shares of common stock issued and outstanding. There are no preferred shares outstanding as of September 30, 2013.</div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> 1.50 125000 <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><b>9. 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Terms of the stock option grants require that the individuals continue employment with the Company over the vesting period of the option, fifty percent (50%) of which vested upon the date of the grant of the stock options and fifty percent (50%) of which will vest over <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">3</font> years from the date that the options were granted. The exercise price of the option is $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">0.46</font> per share, which was the closing price of the common stock at the date of the grants being approved. The Company determined the fair value of the stock option granted using the Black Scholes model and expenses this value monthly based upon the vesting schedule of the stock option award. For purposes of determining fair value, the Company used an average annual volatility of one hundred eighty nine percent (<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">189</font>%), which was calculated based on the closing price of the Company&#8217;s stock over the preceding five years. The risk free rate of interest used in the model was taken from a table of the market rate of interest for U. S. Government Securities for the date of the stock option awards and the effective term. <font style="FONT-FAMILY: Times New Roman, Times, Serif; COLOR: black"> The Company used the simplified method to determine the expected term of the options due to the lack of historical data.</font> The total value of stock options granted to management and officers was determined using this methodology to be $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">1,125,000</font>, half of which was expensed at the date of grant and the balance will be expensed over the next three years based on the stock option service period.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><b><i>Warrant</i></b> <i>-&#160;</i> There were no warrants for services granted during the quarter ending September 30, 2013.</div> </div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> 2500000 P3Y 0.46 1.89 1125000 0.5 0.5 52050 75000 25000 50000 340000 <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in"> <div><b><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>10.</b></div> </td> <td style="TEXT-ALIGN: justify"> <div><b>Commitments and Contingencies</b></div> </td> </tr> </table> </div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><b><i>Technology License &#150; Related Party -</i></b> The Company has negotiated exclusive licenses from the MD Anderson Cancer Center to develop drug delivery technology for antisense and siRNA drug products. These licenses require, among other things, the Company to reimburse MD Anderson for ongoing patent expense. Related party accrued license payments attributable to the Technology License totaling $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">50,000</font> are included in Current Liabilities as of September 30, 2013. Related party accrued expense totaling $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">52,050</font> as of September 30, 2013 represents hospital costs for the clinical trial and are not related to the Technology License. As of September 30, 2013, the Company estimates reimbursable past patent expenses will total approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">75,000</font> for the Technology License. The Company will be required to pay when invoiced the past patent expenses at the rate of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">25,000</font> per quarter. In addition, the Company decided to discontinue development of its siRNA technology and subsequently canceled its siRNA license in June of 2012 (See Note 1).</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><b><i>Drug Supplier Project Plan</i></b> - In August of 2012, Bio-Path entered into two project plan agreements with the Company&#8217;s drug substance manufacturer and its final drug product manufacturer for the manufacture and delivery of final drug product incorporating the drug substance for expected delivery in the fourth quarter of 2012, with delivery subsequently revised to the first quarter of 2013. The project plans required the Company to pay approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">340,000</font> in various stages as the drug substance and product are manufactured and delivered to the Company. Of this amount, $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">195,000</font> was paid for or owed by the Company and was carried on the Balance Sheet as of December 31, 2012 as Prepaid Drug Product for Testing. The drug product was delivered to the Company in the first quarter of 2013 and the Balance Sheet item Prepaid Drug Product for Testing totaling $195,000 was expensed in the first quarter 2013. Amounts owed to the Company&#8217;s manufacturers for this drug batch have been paid subsequent to year end. The Company signed a supply agreement in the third quarter of 2013. Installment payments paid or in accounts payable to the Company&#8217;s drug manufacturers totaling $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">148,301</font> are being carried at cost on the Balance Sheet as of September 30, 2013 as Prepaid Drug Product for testing.</div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><strong>11. Subsequent Events</strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: #1f497d"> <font style="COLOR: black">Subsequent to September 30, 2013, the Company is committed to issue <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 8,052,416</font> shares of common stock pursuant to the private placement disclosed in Note 8.&#160; In connection with this private placement, the Company is also committed to issue <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 805,242</font> shares of common stock to the&#160; Placement Agent as commission for the shares of common stock sold to investors. &#160;&#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"> &#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">On November 5, 2013, the Company filed a registration statement on Form S-3 with the SEC, which has not yet been declared effective. The shelf registration statement has been filed to register the offering and sale of up to $100 million of our common stock, preferred stock, warrants to purchase common stock or preferred stock or any combination thereof, either individually or in units. The foregoing does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. There can be no assurance that the shelf registration statement will be declared effective.</div> </div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> 8052416 805242 100000000 <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong>6. Accrued License Payments &#150; Related Party</strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Accrued license payments related party totaling $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">50,000</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">100,000</font> were included in Current Liabilities as of September 30, 2013 and December 31, 2012, respectively. The amount included for September 30, 2013 represents reimbursement of past patent expenses incurred by MD Anderson prior to the Bio-Path license.</div> </div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> Represents 8,052,416 shares of common stock Represents 2,541,700 shares of common stock Includes $345,000 technology impairment charge for the nine month period ending 9/30/2012; and $690,000 for the period from inception through 9/30/2013 Research and development expense includes stock option expenses of $6,623 and $11,414 for the quarters ending 9/30/2013 and 9/30/2012, respectively; $26,256 and $42,231 for the nine month periods ending 9/30/2013 and 9/30/2012, respectively; and $449,255 for the period from inception through 9/30/2013. Research and development expense also includes amortization expenses of $40,156 and $48,503 for the quarters ending 9/30/2013 and 9/30/2012, respectively; $120,469 and $145,115 for the nine month periods ending 9/30/2013 and 9/30/2012, respectively; and $1,097,203 for the period from inception through 9/30/2013. General & administrative expense includes stock for services, stock option and warrant expenses of $599,424 for the quarter ending 9/30/2013; $609,347 and $3,250 for the nine month periods ending 9/30/2013 and 9/30/2012, respectively; and for the period from inception through 9/30/2013 $3,200,103 for stock option and warrant expense and $318,500 in stock for services. 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Commitments and Contingencies
9 Months Ended
Sep. 30, 2013
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
10.
Commitments and Contingencies
 
Technology License – Related Party - The Company has negotiated exclusive licenses from the MD Anderson Cancer Center to develop drug delivery technology for antisense and siRNA drug products. These licenses require, among other things, the Company to reimburse MD Anderson for ongoing patent expense. Related party accrued license payments attributable to the Technology License totaling $50,000 are included in Current Liabilities as of September 30, 2013. Related party accrued expense totaling $52,050 as of September 30, 2013 represents hospital costs for the clinical trial and are not related to the Technology License. As of September 30, 2013, the Company estimates reimbursable past patent expenses will total approximately $75,000 for the Technology License. The Company will be required to pay when invoiced the past patent expenses at the rate of $25,000 per quarter. In addition, the Company decided to discontinue development of its siRNA technology and subsequently canceled its siRNA license in June of 2012 (See Note 1).
 
Drug Supplier Project Plan - In August of 2012, Bio-Path entered into two project plan agreements with the Company’s drug substance manufacturer and its final drug product manufacturer for the manufacture and delivery of final drug product incorporating the drug substance for expected delivery in the fourth quarter of 2012, with delivery subsequently revised to the first quarter of 2013. The project plans required the Company to pay approximately $340,000 in various stages as the drug substance and product are manufactured and delivered to the Company. Of this amount, $195,000 was paid for or owed by the Company and was carried on the Balance Sheet as of December 31, 2012 as Prepaid Drug Product for Testing. The drug product was delivered to the Company in the first quarter of 2013 and the Balance Sheet item Prepaid Drug Product for Testing totaling $195,000 was expensed in the first quarter 2013. Amounts owed to the Company’s manufacturers for this drug batch have been paid subsequent to year end. The Company signed a supply agreement in the third quarter of 2013. Installment payments paid or in accounts payable to the Company’s drug manufacturers totaling $148,301 are being carried at cost on the Balance Sheet as of September 30, 2013 as Prepaid Drug Product for testing.
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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
3 Months Ended 9 Months Ended 77 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Revenue $ 0 $ 0 $ 0 $ 0 $ 0
Operating expense          
General & administrative 810,152 [1] 246,086 [1] 1,290,506 [1] 729,569 [1] 8,349,969 [1]
Total operating expense 1,393,728 840,489 2,478,284 2,150,898 14,926,964
Net operating loss (1,393,728) (840,489) (2,478,284) (2,150,898) (14,926,964)
Other income (expense)          
Interest income 837 26 2,492 768 79,581
Other income 0 0 0 0 244,479
Other expense (316) (89) (661) (487) (4,834)
Total Other Income (Expense) 521 (63) 1,831 281 319,226
Net Loss (1,393,207) (840,552) (2,476,453) (2,150,617) (14,607,738)
Loss per share          
Net loss per share, basic and diluted $ (0.02) $ (0.01) $ (0.04) $ (0.04) $ (0.30)
Basic and diluted weighted average number of common shares outstanding 75,380,214 58,902,046 68,068,456 58,717,393 48,619,280
All Other
         
Operating expense          
Research and development 568,576 [2] 546,821 [2] 1,125,711 [2] 994,459 [2] 5,451,308 [2]
MD Anderson for License
         
Operating expense          
Research and development $ 15,000 [3] $ 47,582 [3] $ 62,067 [3] $ 426,870 [3] $ 1,125,687 [3]
[1] General & administrative expense includes stock for services, stock option and warrant expenses of $599,424 for the quarter ending 9/30/2013; $609,347 and $3,250 for the nine month periods ending 9/30/2013 and 9/30/2012, respectively; and for the period from inception through 9/30/2013 $3,200,103 for stock option and warrant expense and $318,500 in stock for services.
[2] Research and development expense includes stock option expenses of $6,623 and $11,414 for the quarters ending 9/30/2013 and 9/30/2012, respectively; $26,256 and $42,231 for the nine month periods ending 9/30/2013 and 9/30/2012, respectively; and $449,255 for the period from inception through 9/30/2013. Research and development expense also includes amortization expenses of $40,156 and $48,503 for the quarters ending 9/30/2013 and 9/30/2012, respectively; $120,469 and $145,115 for the nine month periods ending 9/30/2013 and 9/30/2012, respectively; and $1,097,203 for the period from inception through 9/30/2013.
[3] Includes $345,000 technology impairment charge for the nine month period ending 9/30/2012; and $690,000 for the period from inception through 9/30/2013
XML 11 R10.htm IDEA: XBRL DOCUMENT v2.4.0.8
Prepaid Drug Product for Testing
9 Months Ended
Sep. 30, 2013
Prepaid Drug Product For Testing [Abstract]  
Prepaid Drug Product for Testing
3. Prepaid Drug Product for Testing
 
Advance payments, including nonrefundable amounts, for goods or services that will be used or rendered for future R&D activities are deferred and capitalized. Such amounts will be recognized as an expense as the related goods are delivered or the related services are performed. The Company incurred installments to its contract drug manufacturing and raw material suppliers totaling $195,000 during 2012 pursuant to a Drug Supply Contract (See Note 10.) for the manufacture and delivery of the Company’s lead drug product for testing in a Phase I clinical trial. This amount was carried on the Balance Sheet as of December 31, 2012 at cost as Prepaid Drug Product for Testing. This product was delivered to the Company in the first quarter of 2013 and costs associated with this drug batch were expensed. Another drug batch was in the process of starting to be produced in the third quarter of 2013 and installment costs totaling $148,301 are carried on the Balance Sheet as of September 30, 2013 as Prepaid Drug Product for Testing (See Note 10.).
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Accrued License Payments - Related Party - Additional Information (Detail) (USD $)
Sep. 30, 2013
Dec. 31, 2012
Related Party Transaction [Line Items]    
Accrued license payments - related party $ 50,000 $ 100,000
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Subsequent Events
9 Months Ended
Sep. 30, 2013
Subsequent Events [Abstract]  
Subsequent Events
11. Subsequent Events
 
Subsequent to September 30, 2013, the Company is committed to issue 8,052,416 shares of common stock pursuant to the private placement disclosed in Note 8.  In connection with this private placement, the Company is also committed to issue 805,242 shares of common stock to the  Placement Agent as commission for the shares of common stock sold to investors.   
 
On November 5, 2013, the Company filed a registration statement on Form S-3 with the SEC, which has not yet been declared effective. The shelf registration statement has been filed to register the offering and sale of up to $100 million of our common stock, preferred stock, warrants to purchase common stock or preferred stock or any combination thereof, either individually or in units. The foregoing does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. There can be no assurance that the shelf registration statement will be declared effective.
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Stock Options and Warrants - Additional Information (Detail) (USD $)
1 Months Ended
Aug. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Share based compensation arrangement by share based payment award options grants in period 2,500,000
Share based compensation arrangement by share based payment award award vesting period 3 years
Share based compensation arrangements by share based payment award options grants in period weighted average exercise price $ 0.46
Share based compensation arrangement by share based payment award options grants in period grant date fair value $ 1,125,000
Share based compensation arrangement by share based payment award average annual volitality rate 189.00%
Percentage of stock options vested on the grant date, stock options issued 50.00%
Percentage of stock options vested 50.00%
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Stockholders' Equity - Additional Information (Detail) (USD $)
1 Months Ended 2 Months Ended 3 Months Ended 9 Months Ended 77 Months Ended 2 Months Ended 1 Months Ended 2 Months Ended 1 Months Ended 6 Months Ended 1 Months Ended 6 Months Ended 1 Months Ended
Aug. 31, 2012
Oct. 31, 2011
Apr. 30, 2008
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
May 31, 2013
IPO
Jun. 30, 2010
Warrant
Sep. 30, 2013
Private Placement memorandum
Aug. 31, 2013
Private Placement memorandum
Jun. 30, 2012
Private Placement memorandum
Jun. 30, 2009
Private Placement memorandum
May 31, 2013
Private Placement memorandum
Dec. 31, 2008
Investor Relations Services
Jun. 30, 2010
LPC
Jun. 30, 2007
Founders
Mar. 31, 2012
Equity Unit Purchase Agreements
LPC
Dec. 31, 2011
Equity Unit Purchase Agreements
LPC
Nov. 30, 2011
Equity Unit Purchase Agreements
LPC
Jun. 30, 2011
Equity Unit Purchase Agreements
LPC
Nov. 30, 2010
Equity Unit Purchase Agreements
LPC
Oct. 31, 2010
Equity Unit Purchase Agreements
LPC
Sep. 30, 2010
Equity Unit Purchase Agreements
LPC
Jul. 31, 2010
Equity Unit Purchase Agreements
LPC
Jun. 30, 2010
Equity Unit Purchase Agreements
LPC
Jun. 30, 2010
Equity Unit Purchase Agreements
LPC
Minimum
Jun. 30, 2010
Equity Unit Purchase Agreements
LPC
Maximum
Apr. 30, 2012
Equity Unit Purchase Agreements
LPC
Scenario 1
Apr. 30, 2012
Equity Unit Purchase Agreements
LPC
Scenario 2
Apr. 30, 2012
Equity Unit Purchase Agreements
LPC
Scenario 3
Jun. 30, 2010
LPC financing agreement
LPC
Jun. 30, 2011
Investors
Jun. 30, 2013
Investors
Dec. 31, 2012
Investors
Apr. 30, 2011
Investors
Private Placement memorandum
May 31, 2010
Investors
Private Placement memorandum
Jan. 31, 2010
Investors
Private Placement memorandum
Dec. 31, 2009
Investors
Private Placement memorandum
Nov. 30, 2009
Investors
Private Placement memorandum
Jun. 30, 2009
Investors
Private Placement memorandum
Aug. 31, 2007
Investors
Private Placement memorandum
Aug. 31, 2007
Investors
Additional Shares
Jan. 31, 2010
Investors
Additional Shares
Private Placement memorandum
Jun. 30, 2011
Placement Agent
Aug. 31, 2007
Placement Agent
Jun. 30, 2013
Placement Agent
May 31, 2010
Placement Agent
Private Placement memorandum
Jan. 31, 2010
Placement Agent
Private Placement memorandum
Jun. 30, 2009
Placement Agent
Private Placement memorandum
Nov. 30, 2007
MD Anderson Cancer Center
Apr. 30, 2008
BioPathHoldingsInc
Feb. 29, 2008
BioPathHoldingsInc
Feb. 29, 2008
Ogden Golf Co.
Shareholders Equity [Line Items]                                                                                                                
Common stock and warrants issued, shares                     571,429               6,505,994 166,667 172,414 83,333 164,853 135,135 135,135 125,000 375,000 571,429     89,286 96,154 185,185 12,000   11,664,665               3,975,000 1,333,334     530,833 1,496,499 78,000 360,000 66,000   200,000 80,000  
Common stock issued , value                   $ 489,501                 $ 6,506                                     $ 1,794,205           $ 993,750 $ 1,000,000                      
Common stock issued , shares 50,000                         150,000                                         5,980,685                       598,069           3,138,889      
Common stock issued merger transactions, shares                                                                                                             38,023,578  
Common stock retained shareholders, shares                                                                                                               3,600,000
Common stock issued for services, value 18,500   180,000                     18,500     40,000                                                                              
Common stock issued, additional shares     24                                                                                                          
Common stock issued for service, shares                                 100,000                                                                              
Common stock and warrant issued, shares                             660,000                                               780,000 2,700,000           900,000                    
Common stock repurchased, shares                                                                             780,000 2,700,000     660,000     900,000                    
Common stock and warrants issued, Value                                                                             273,000   675,000 675,000 165,000     225,000                    
Warrants exercisable period                                                                             2 years 2 years     2 years     2 years                    
Warrants exercise price                                                       $ 1.50                     $ 1.50 $ 1.50     $ 1.50     $ 1.50                    
Equity purchase agreement value                                   7,000,000                     50,000 1,000,000                                                    
Agreement period                                                       24 months                                                        
Proceeds from issuance of common stock and warrant from LPC             5,403,106 973,146 13,442,489                     50,000 50,000 25,000 50,000 50,000 50,000 50,000 150,000 200,000     25,000 25,000 50,000                                              
Committed shares issued                                       2,084 2,084 1,042 2,084 2,084 2,084 2,084 6,251       1,042 1,042 2,084 566,801                                            
Warrants issued, shares                                       0 0 0 0 0 0 0 0                                                          
Common stock issued for exercise of warrant (in shares)   1,920,000                                                                                                            
Common stock issued for exercise of warrant   576,000                                                                                                            
Common stock issued for services       $ 346,201 $ 708,600 $ 795,001 $ 0 $ 18,500 $ 318,500     $ 3,220,966 $ 3,220,966     $ 2,000,198                                                                                
Common Stock, shares issued         62,219,050   75,380,214   75,380,214                                                       3,300,337                                      
Common Stock, shares outstanding         62,219,050   75,380,214   75,380,214                                                                                              
Preferred Stock, shares outstanding         0   0   0                                                                                              
XML 17 R25.htm IDEA: XBRL DOCUMENT v2.4.0.8
Additional Paid In Capital For Shares To Be Issued - Additional Information (Detail) (USD $)
Sep. 30, 2013
Dec. 31, 2012
Additional Paid In Capital For Shares To Be Issued [Line Items]    
Common stock issuable shares issuable 8,052,416 2,541,700
Other Additional Capital $ 3,220,967 [1] $ 762,510 [2]
[1] Represents 8,052,416 shares of common stock
[2] Represents 2,541,700 shares of common stock
XML 18 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
9 Months Ended 77 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
CASH FLOW FROM OPERATING ACTIVITIES      
Net loss $ (2,476,453) $ (2,150,617) $ (14,607,738)
Adjustments to reconcile net loss to net cash used in operating activities      
Amortization 120,469 145,115 1,097,203
Technology impairment 0 345,000 690,000
Common stock issued for services 0 18,500 318,500
Stock options and warrants 635,603 45,481 3,649,357
(Increase) decrease in assets      
Prepaid drug product for testing 46,699 73,500 (148,301)
Other current assets (7,138) 3,044 (49,713)
Increase (decrease) in liabilities      
Accounts payable and accrued expenses (155,491) (47,559) 173,753
Net cash used in operating activities (1,836,311) (1,567,536) (8,876,939)
CASH FLOW FROM INVESTING ACTIVITIES      
Purchase of exclusive license - related party 0 (25,000) (884,710)
Net cash used in investing activities 0 (25,000) (884,710)
CASH FLOW FROM FINANCING ACTIVITIES      
Proceeds from convertible notes 0 0 435,000
Cash repayment of convertible notes 0 0 (15,000)
Net proceeds from sale of common stock 5,403,106 973,146 13,442,489
Net cash from financing activities 5,403,106 973,146 13,862,490
NET INCREASE (DECREASE) IN CASH 3,566,795 (619,390) 4,100,841
Cash, beginning of period 534,046 952,252 0
Cash, end of period 4,100,841 332,862 4,100,841
Cash paid for      
Interest 0 0 445
Income taxes 0 0 0
Non-cash financing activities      
Common stock issued upon conversion of convertible notes 0 0 420,000
Placement Agent
     
Non-cash financing activities      
Common stock issued 448,950 0 1,040,516
MD Anderson for License
     
Non-cash financing activities      
Common stock issued 0 0 2,354,167
LPC
     
Non-cash financing activities      
Common stock issued $ 0 $ 0 $ 210,755
XML 19 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Organization and Business
9 Months Ended
Sep. 30, 2013
Organization and Business [Abstract]  
Organization and Business
1.
Organization and Business
 
Bio-Path is a development stage company with its lead cancer drug candidate, Liposomal Grb-2 (L-Grb-2 or BP-100-1.01), currently in clinical trials. The Company was founded with technology from The University of Texas, MD Anderson Cancer Center (“MD Anderson”) and is dedicated to developing novel cancer drugs under an exclusive license arrangement. The Company has drug delivery platform technology with composition of matter intellectual property for systemic delivery of antisense. Bio-Path also plans to investigate developing liposome tumor targeting technology, which has the potential to be developed to augment the Company’s current delivery technology to improve further the effectiveness of its antisense. In addition to its existing technology under license, the Company expects to maintain a close working relationship with key members of the MD Anderson staff, which has the potential to provide Bio-Path with additional drug candidates in the future. Bio-Path also expects to broaden its technology to include cancer drugs other than antisense, including drug candidates licensed from institutions other than MD Anderson.
 
Bio-Path believes that its core technology, if successful, will enable it to be at the center of emerging genetic and molecular target-based therapeutics that require systemic delivery of DNA and RNA-like material. The Company’s two lead liposomal antisense drug candidates are targeted to treat acute myeloid leukemia, myelodysplastic syndrome, chronic myelogenous leukemia, acute lymphoblastic leukemia and follicular lymphoma, and if successful, could potentially be used in treating many other indications of cancer. For example, recently in July of 2013 Bio-Path announced that it was initiating development of its lead cancer drug Liposomal Grb-2 to treat triple negative breast cancer (TNBC) and inflammatory breast cancer (IBC), two cancers characterized by formation of aggressive tumors and relatively high mortality rates.
 
Bio-Path is currently treating patients with its lead cancer drug candidate Liposomal Grb-2 in a Phase I clinical trial. In March of 2010, Bio-Path received written notification from the U.S. Food and Drug Administration (the “FDA”) that its application for Investigational New Drug (“IND”) status for L-Grb-2 had been granted. This enabled the Company to commence its Phase I clinical trial to study L-Grb-2 in human patients, which began in the third quarter 2010.
 
The Phase I clinical trial is a dose-escalating study to determine the safety and tolerance of escalating doses of L-Grb-2. The study will also determine the optimal biologically active dose for further development. The pharmacokinetics of L-Grb-2 in patients will be studied, making it possible to investigate whether the delivery technology performs as expected based on pre-clinical studies in animals. In addition, patient blood samples from the trial will be tested using a new assay developed by the Company to measure down-regulation of the target protein, the critical scientific data that will demonstrate that the delivery technology does in fact successfully deliver the antisense drug substance to the cell and across the cell membrane into the interior of the cell where expression of the target protein is blocked. The clinical trial is being conducted at The University of Texas MD Anderson Cancer Center.
 
The original IND granted by the FDA in March of 2010 allowed the Company to proceed with a Phase I clinical trial having five (5) cohorts culminating in a maximum dose of 50 mg/m2. However, in November of 2012, the Company announced that since there had been no evidence of significant toxicity from treatment of patients with L-Grb-2, the Company was proceeding with requesting the FDA to allow higher dosing in patients. The Principal Investigator for the clinical trial, in consultation with Bio-Path’s Board of Directors, advised that with the absence of any real toxicity barriers, the Company should continue to evaluate higher doses of Liposomal Grb-2. The absence of significant toxicity provides a significant opportunity for the Company to test higher doses in patients in order to find a dose that provides maximum potential benefit and duration of anti-leukemia effect. These actions were approved and a revised protocol is in place allowing higher dosing. The Company announced in June of 2013 that it completed Cohort 5, successfully treating three patients at a dose 60 mg/m2, which had been increased from 50 mg/m2in the revised protocol. The Company has enrolled three patients in Cohort 6 for treatment at a dose of 90 mg/m2 and currently has two evaluable patients. The Company is currently awaiting drug resupply to complete Cohort 6.
 
Patients eligible for enrollment into the Phase I clinical trial have refractory or relapsed Acute Myeloid Leukemia (AML), Philadelphia Chromosome Positive Chronic Myelogenous Leukemia (CML) and Acute Lymphoblastic Leukemia (ALL), or Myelodysplastic Syndrome (MDS) and who have failed other approved treatments. These are patients with very advanced stages of the disease, and consequently, not all patients enrolled are able to complete the four-week treatment cycle because of progressive disease, which is unrelated to the treatment with Liposomal-Grb-2.
 
An important outcome for the Phase I clinical trial is the ability to assess for the first time the performance of the Company’s delivery technology platform in human patients. The Company has developed two new assays to be able to provide scientific proof of concept of the delivery technology. The first involves a novel detection method for the drug substance in blood samples that will be used to assess the pharmacokinetics of the drug. The second involves a method to measure down-regulation of the target protein in a patient blood sample that was achieved. The latter measurement will provide critical proof that the neutral liposome delivery technology delivered the drug substance to the cell and was able to transport it across the cell membrane into the interior to block cellular production of the Grb-2 protein.
 
In this regard, in August of 2013 Bio-Path announced that its liposomal delivery technology achieved a major milestone in the development of antisense therapeutics based on a scientific assay confirming that treating patients with its drug candidate BP-100-1.01 inhibits the Grb-2 disease-causing target protein in patients with blood cancers. Inhibition of the disease-causing protein has the effect of down regulating the disease. This will allow for Liposomal Grb-2 to be used potentially in combination with current frontline treatments. This discovery also points to the potential use of a liposomal antisense treatment as a standalone treatment to transform and manage a disease, which has a disease causing protein, as a chronic disorder. This accomplishment is potentially a significant breakthrough for antisense therapeutics, whose development, to date, as a class of therapeutics has been severely limited by a lack of a systemic delivery mechanism that can safely distribute the drug throughout the body and get the antisense drug substance across the cell membrane into the interior of the cell. Further, we expect that scientific proof of principal for our delivery technology may lead to licensing and business development opportunities, furthering our business model.
 
Being platform technology, a successful demonstration of the delivery technology in this study will allow the Company to begin expanding Bio-Path’s drug candidates by simply applying the delivery technology template to multiple new drug product targets. In this manner, Bio-Path can quickly build an attractive drug product pipeline with multiple drug product candidates for treating cancer as well as treating other important diseases including diabetes, cardiovascular conditions and neuromuscular disorders. Currently, the Company is researching potential targets for which it can apply its liposomal antisense drug delivery technology.
 
The Phase I clinical trial is typically ended when a maximum tolerated dose (MTD) is encountered. However, due to the lack of toxicity of the drug to date, it is not expected that a MTD will be encountered. As a result, the optimal biological dose will be determined and this dose will be used in the following Phase II clinical trial. The Company plans to evaluate patients at the close of Cohort 6 to evaluate whether the Phase I clinical trial should be ended at that time. It is expected that the down regulation assay will be a factor in the evaluation of whether we have reached optimal inhibition. It is noted, however, that the lack of toxicity is a major advantage for the drug candidate BP-100-1.01 since it allows higher levels of drug to be administered to the patient, increasing the potential therapeutic benefit.
 
Bio-Path has also been working with the Principal Investigator to finalize plans for Phase II clinical trials in Liposomal Grb-2. Significantly, these plans include three Phase II trials, one each for CML, AML and MDS, of the drug candidate Liposomal Grb-2 in salvage therapy for very advanced patients.
 
At the end of January 2012, the Company’s Board of Directors held a strategic planning session. Among several topics was a discussion of Company’s liposomal siRNA technology. The siRNA discussion covered a broad range of topics including intellectual property, the amount of development that would be needed and the overall impression of diminishing acceptance of siRNA technology by the pharmaceutical industry and equity market investors. The Board compared this to our core liposomal antisense technology, which has a stronger intellectual property position, a method of action blocking expression of disease-causing proteins that is better understood in the scientific community and a much easier path for development than liposomal siRNA technology. Since both antisense and siRNA are means to block expression of disease-causing proteins, the Board concluded that there was no apparent reason to develop a second, higher-risk siRNA method of blocking protein expression when the development of the liposomal antisense method is now much further along and showing promising results. After this discussion the Board decided to discontinue development of the licensed liposomal siRNA technology and the Company commenced discussions regarding this decision with MD Anderson to determine with them whether to modify the license to include other products, postpone the license or simply abandon the license. As an interim step pending final resolution of this matter, the Company took a charge of $345,000 at the end of the fiscal year ending December 31, 2011 to reduce the carrying value of the siRNA license by fifty percent (50%). This amount represented one half of the value of the common stock given to MD Anderson when the original siRNA license was finalized. In June 2012, the Company decided to write-off the balance of the carrying value of the siRNA license, representing $345,000, and cancel the license.
 
The Principal Investigator for the Phase I clinical trial, Dr. Jorge Cortes (the “Principal Investigator”), is a leading expert in the treatment of CML, AML, MDS and ALL. In the continuing effort to keep the leukemia oncology community apprised of the development of Liposomal Grb-2, the Principal Investigator submitted an abstract to the American Society of Hematology (ASH) to be considered for presentation at ASH’s annual meeting in December of 2013. The abstract was accepted and a poster updating the progress in the Phase I clinical trial will be presented at the ASH annual meeting. A major part of the update on the Liposomal Grb-2 Phase I trial will be the inclusion of the results of testing of patient blood samples, which demonstrates significant inhibition of the disease causing protein Grb-2. This is a significant development which suggests the potential of Liposomal Grb-2 to inhibit AML and MDS in patients.
 
The Company was founded in May of 2007 as a Utah corporation. In February of 2008, Bio-Path completed a reverse merger with Ogden Golf Co. Corporation, a public company traded over the counter that had no current operations. The name of Ogden Golf was changed to Bio-Path Holdings, Inc. and the directors and officers of Bio-Path, Inc. became the directors and officers of Bio-Path Holdings, Inc. Bio-Path has become a publicly traded company (symbol OTCBB: BPTH) as a result of this merger. The Company’s operations to date have been limited to organizing and staffing the Company, acquiring, developing and securing its technology and undertaking product development for a limited number of product candidates including readying and now conducting a Phase I clinical trial in its lead drug product candidate Liposomal Grb-2.
 
An important milestone was achieved for the Company in the second quarter, 2012 when Bio-Path’s common stock began trading on the quality-controlled OTCQX. OTCQX is the highest tier, premier trading platform for OTC companies. The Company also announced that it had retained Roth Capital Partners to serve as the Company’s Designated Advisor for Disclosure (“DAD”) on OTCQX, responsible for providing guidance on OTCQX requirements.
 
As of September 30, 2013, Bio-Path had $4,100,841 in cash on hand. During the third quarter of 2013, the Company received approximately $2.8 million in cash net of placement agent commissions from the sale of shares of common stock in a private placement.
 
As the Company has not begun its planned principal operations of commercializing a product candidate, the accompanying financial statements have been prepared in accordance with principles established for development stage enterprises.
XML 20 R11.htm IDEA: XBRL DOCUMENT v2.4.0.8
Accounts Payable
9 Months Ended
Sep. 30, 2013
Accounts Payable Disclosure [Abstract]  
Accounts Payable
4.Accounts Payable
 
As of September 30, 2013, Current Liabilities included accounts payable of $43,578 comprised primarily of approximate amounts owed to the Company’s drug substance manufacturer totaling $9,900, $8,100 for consultants and advisors to the Company, $6,900 in services as the Company commenced development of a data management system for clinical trial patient data, $9,300 for legal fees and $9,400 for communications, miscellaneous drug development and clinical trial expense. As of December 31, 2012, Current Liabilities included accounts payable $57,000 and accounts payable related party of $8,582, which amounts were subsequently paid in 2013.
XML 21 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
Related Party
9 Months Ended
Sep. 30, 2013
Related Party Transactions [Abstract]  
Related Party
2.
Related Party
 
Based on its stock ownership in the Company, MD Anderson Cancer Center meets the criteria to be deemed a related party of Bio-Path Holdings. For the quarters ending September 30, 2013 and 2012, MD Anderson related party research and development expense was $15,000 and $47,582, respectively. MD Anderson related party research and development expense for the quarter ending September 30, 2013 was comprised of MD Anderson clinical trial hospital expense of $15,000. As of September 30, 2013 accrued expense related party was $52,050 for MD Anderson clinical trial hospital expense and accrued license payments related party of $50,000 for past patent expenses (See Notes 4., 5. and 6.). For the quarter ending September 30, 2012 related party research and development expense consisted of $39,000 for expenses for treating patients in the Company’s clinical trial and $8,582 for patent expenses. As of September 30, 2012, the Company had accrued expense of $39,000 for clinical trial expense for the related party, $8,582 in related party accounts payable and $50,000 in accrued license payments payable due to the related party for past patent expenses for the Company’s Technology License. See Notes 5 and 6.
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Commitments and Contingencies - Additional Information (Detail) (USD $)
9 Months Ended
Sep. 30, 2013
Dec. 31, 2012
Product Liability Contingency [Line Items]    
Estimates reimbursable past patent expenses $ 75,000  
Patent expense per quarter 25,000  
Accrued expense - related party 52,050  
Other inventory, gross 148,301 195,000
Drug Product Testing Agreement Consideration To Be Paid In Stages 340,000  
Technology Licenses
   
Product Liability Contingency [Line Items]    
Accounts payable and accrued liabilities $ 50,000  
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CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)
Sep. 30, 2013
Dec. 31, 2012
Preferred Stock, par value $ 0.001 $ 0.001
Preferred Stock, shares authorized 10,000,000 10,000,000
Preferred Stock, shares issued 0 0
Preferred Stock, shares outstanding 0 0
Common Stock, par value $ 0.001 $ 0.001
Common Stock, shares authorized 200,000,000 200,000,000
Common Stock, shares issued 75,380,214 62,219,050
Common Stock, shares outstanding 75,380,214 62,219,050
Additional paid in capital for shares to be issued, shares of common stock 8,052,416 2,541,700
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Additional Paid In Capital For Shares To Be Issued
9 Months Ended
Sep. 30, 2013
Shares To Be Issued [Abstract]  
Additional Paid In Capital For Shares To Be Issued
7. Additional Paid In Capital For Shares To Be Issued
 
During 2012 the Company sold shares of common stock for cash to investors in a private placement. As of December 31, 2012, there were 2,541,700 shares of common stock remaining to be issued, representing $762,510 in sales to accredited investors. The Company has closed this offering at the end of the first quarter 2013 and subsequently issued the shares of common stock to these investors in the second quarter of 2013. During the third quarter of 2013 the Company sold shares of common stock for cash to investors in another private placement. As of September 30, 2013, there were 8,052,416 shares of common stock to be issued, representing $3,220,967 in sales to accredited investors. The Company closed this offering during September of 2013. 
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CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) (USD $)
3 Months Ended 9 Months Ended 77 Months Ended 3 Months Ended 9 Months Ended 77 Months Ended
Sep. 30, 2013
Research and Development Expense
Sep. 30, 2012
Research and Development Expense
Sep. 30, 2013
Research and Development Expense
Sep. 30, 2012
Research and Development Expense
Sep. 30, 2013
Research and Development Expense
Sep. 30, 2013
General and Administrative Expense
Sep. 30, 2013
General and Administrative Expense
Sep. 30, 2012
General and Administrative Expense
Sep. 30, 2013
General and Administrative Expense
Equity compensation $ 6,623 $ 11,414 $ 26,256 $ 42,231 $ 449,255        
Amortization expenses 40,156 48,503 120,469 145,115 1,097,203        
Stock option and warrant expense           599,424 609,347 3,250 3,200,103
Stock for services                 318,500
Technology impairment charge       $ 345,000 $ 690,000        
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CONSOLIDATED BALANCE SHEETS (USD $)
Sep. 30, 2013
Dec. 31, 2012
Current assets    
Cash $ 4,100,841 $ 534,046
Prepaid drug product for testing 148,301 195,000
Other current assets 49,713 42,575
Total current assets 4,298,855 771,621
Other assets    
Technology licenses - related party 2,500,374 2,500,374
Less Accumulated Amortization (1,048,700) (928,231)
Intangible Assets, Net (Excluding Goodwill), Total 1,451,674 1,572,143
TOTAL ASSETS 5,750,529 2,343,764
Current liabilities    
Accounts payable 43,578 57,000
Accounts payable - related party 0 8,582
Accrued expense 28,125 137,662
Accrued expense - related party 52,050 26,000
Accrued license payments - related party 50,000 100,000
Total current liabilities 173,753 329,244
Long term debt 0 0
TOTAL LIABILITIES 173,753 329,244
Shareholders' Equity    
Preferred Stock, $.001 par value 10,000,000 shares authorized, no shares issued and outstanding 0 0
Common Stock, $.001 par value, 200,000,000 shares authorized 75,380,214 and 62,219,050 shares issued and outstanding as of 9/30/13 and 12/31/12, respectively 75,380 62,218
Additional paid in capital 16,888,167 13,321,075
Additional paid in capital for shares to be issued 3,220,967 [1] 762,510 [2]
Accumulated deficit during development stage (14,607,738) (12,131,283)
Total shareholders' equity 5,576,776 2,014,520
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY $ 5,750,529 $ 2,343,764
[1] Represents 8,052,416 shares of common stock
[2] Represents 2,541,700 shares of common stock
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Subsequent Events - Additional Information (Detail) (Subsequent Event, USD $)
In Millions, except Share data, unless otherwise specified
1 Months Ended 9 Months Ended
Nov. 05, 2013
Sep. 30, 2013
Private Placement
Subsequent Event [Line Items]    
Stock issued during period shares other   8,052,416
Stock issued during period shares new issues   805,242
Sale of securities consideration received on transaction $ 100  
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Accrued Expense - Additional Information (Detail) (USD $)
Sep. 30, 2013
Dec. 31, 2012
Accounts Payable and Accrued Liabilities [Line Items]    
Accrued expense $ 28,125 $ 137,662
Accrued expense - related party $ 52,050 $ 26,000
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Accrued License Payments - Related Party
9 Months Ended
Sep. 30, 2013
Accrued License Payment Related Party [Abstract]  
Accrued License Payments - Related Party
6. Accrued License Payments – Related Party
 
Accrued license payments related party totaling $50,000 and $100,000 were included in Current Liabilities as of September 30, 2013 and December 31, 2012, respectively. The amount included for September 30, 2013 represents reimbursement of past patent expenses incurred by MD Anderson prior to the Bio-Path license.
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Stock Options and Warrants
9 Months Ended
Sep. 30, 2013
Stock Options and Warrants [Abstract]  
Stock Options and Warrants
9. Stock Options and Warrants
 
Stock Option - In August of 2013 the Company made stock option grants to management and officers to purchase in the aggregate 2,500,000 shares of the Company’s common stock. The previous grant of stock options to management and officers was made in 2008. Terms of the stock option grants require that the individuals continue employment with the Company over the vesting period of the option, fifty percent (50%) of which vested upon the date of the grant of the stock options and fifty percent (50%) of which will vest over 3 years from the date that the options were granted. The exercise price of the option is $0.46 per share, which was the closing price of the common stock at the date of the grants being approved. The Company determined the fair value of the stock option granted using the Black Scholes model and expenses this value monthly based upon the vesting schedule of the stock option award. For purposes of determining fair value, the Company used an average annual volatility of one hundred eighty nine percent (189%), which was calculated based on the closing price of the Company’s stock over the preceding five years. The risk free rate of interest used in the model was taken from a table of the market rate of interest for U. S. Government Securities for the date of the stock option awards and the effective term. The Company used the simplified method to determine the expected term of the options due to the lack of historical data. The total value of stock options granted to management and officers was determined using this methodology to be $1,125,000, half of which was expensed at the date of grant and the balance will be expensed over the next three years based on the stock option service period.
 
Warrant There were no warrants for services granted during the quarter ending September 30, 2013.
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Accrued Expense
9 Months Ended
Sep. 30, 2013
Accrued Liabilities [Abstract]  
Accrued Expense
5. Accrued Expense
 
As of September 30, 2013, Current Liabilities included accrued expense of $28,125 for clinical trial operations management and management bonus accrual. Current Liabilities as of September 30, 2013 also included accrued expense related party of $52,050 for MD Anderson clinical trial hospital expense. (See Note 2.). As of December 31, 2012, Current Liabilities included accrued expense of $137,662 and accrued expense related party of $26,000.
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Basis of Presentation
9 Months Ended
Sep. 30, 2013
Basis Of Presentation [Abstract]  
Basis of Accounting
The accompanying interim financial statements have been prepared with the instructions to Form 10-Q pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and, therefore, do not include all information and footnotes necessary for a complete presentation of our financial position, results of operations, cash flows, and stockholders’ equity in conformity with generally accepted accounting principles. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature. The unaudited quarterly financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Annual Report on Form 10-K of Bio-Path Holdings, Inc. (together with its subsidiary, “Bio-Path” or the “Company”) as of and for the fiscal year ended December 31, 2012. The results of operations for the period ended September 30, 2013, are not necessarily indicative of the results for a full-year period.
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Organization and Business - Additional Information (Detail) (USD $)
1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended 77 Months Ended
Jun. 30, 2012
Sep. 30, 2013
Sep. 30, 2013
Sep. 30, 2012
Dec. 31, 2011
Sep. 30, 2013
Dec. 31, 2012
May 09, 2007
Organization and Nature of Operations [Line Items]                
Percentage of Charge         50.00%      
Impairment of License     $ 0 $ 345,000 $ 345,000 $ 690,000    
Cash   4,100,841 4,100,841 332,862 952,252 4,100,841 534,046 0
Carrying value of the siRNA license 345,000              
Placement agent commission   $ 2,800,000            
Phase I clinical trial
               
Organization and Nature of Operations [Line Items]                
Number patients benefited from Liposomal Grb-2 treatment   3 3     3    

XML 38 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stockholders' Equity
9 Months Ended
Sep. 30, 2013
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
8.
Stockholders’ Equity
 
Issuance of Common Stock – In May and June of 2007, the Company issued 6,505,994 shares of common stock for $6,506 in cash to founders of the Company. In August of 2007, the Company issued 3,975,000 shares of common stock for $993,750 in cash to investors in the Company pursuant to a private placement memorandum. In August of 2007 the Company issued an additional 1,333,334 shares of common stock for $1,000,000 in cash to investors in the Company pursuant to a second round of financing. The Company issued 530,833 in common stock to the Placement Agent as commission for the shares of common stock sold to investors. In November of 2007, the Company issued 3,138,889 shares in common stock to MD Anderson as partial consideration for its two technology licenses from MD Anderson.
 
In February of 2008, the Company completed a reverse merger with Ogden Golf Co. Corporation and issued 38,023,578 shares of common stock of the public company Bio-Path Holdings (formerly Ogden Golf Co. Corporation) in exchange for pre-merger common stock of Bio-Path, Inc. In addition, shareholders of Ogden Golf Co. Corporation retained 3,600,000 shares of common stock of Bio-Path Holdings. In February of 2008 Bio-Path issued 80,000 shares of common stock to strategic consultants pursuant to executed agreements and the fair value was expensed upfront as common stock for services. In April of 2008, the Company issued 200,000 shares of common stock to a firm in connection with introducing Bio-Path, Inc. to its merger partner Ogden Golf Co. Corporation. The fair value of this stock issuance was expensed upfront as common stock for services valued at $180,000. In April of 2008, the Company recorded an additional 24 shares for rounding in accordance with FINRA rules. In December of 2008, the Company issued 100,000 shares of common stock to an investor relations firm for services. The fair value of this stock issuance was expensed upfront as common stock for services valued at $40,000. There were no issuances of shares during the first quarter of 2009. In June of 2009, the Company issued 660,000 shares of common stock and warrants to purchase an additional 660,000 shares of common stock for $165,000 in cash to investors in the Company pursuant to a private placement memorandum. The warrants must be exercised within two years from the date of issuance. The exercise price of the warrants is $1.50 a share. In connection with this private placement, the Company issued 66,000 shares of common stock to the Placement Agent as commission for the shares of common stock sold to investors. There were no issuances of shares during the fourth quarter of 2009.
 
In November and December of 2009, the Company sold shares of common stock and warrants to purchase shares of common stock for $675,000 in cash to investors pursuant to a private placement memorandum. These shares were not issued by the December 31, 2009 year end. In January 2010, the Company issued these investors 2,700,000 shares of common stock and warrants to purchase an additional 2,700,000 shares of common stock. The warrants must be exercised within two years from the date of issuance. The exercise price of the warrants is $1.50 a share. In January 2010, the Company also sold an additional 900,000 shares of common stock and warrants to purchase an additional 900,000 shares of common stock for $225,000 in cash to investors in the Company pursuant to a private placement memorandum. The warrants must be exercised within two years from the date of issuance and the exercise price is $1.50 a share. In connection with these private placement sales of equity, the Company issued 360,000 shares of common stock to the Placement Agent as commission for the shares of common stock sold to investors.
 
In May of 2010, the Company issued 780,000 shares of common stock and warrants to purchase an additional 780,000 shares of common stock for $273,000 in cash to investors in the Company pursuant to a private placement memorandum. The warrants must be exercised within two years from the date of issuance. The exercise price of the warrants is $1.50 a share. In connection with this private placement, the Company issued 78,000 shares of common stock to the Placement Agent as commission for the shares of common stock sold to investors.
 
In June of 2010, the Company signed an equity purchase agreement for up to $7 million with Lincoln Park Capital Fund, LLC (“LPC” or “Lincoln”), a Chicago-based institutional investor. Under the terms of the equity purchase agreement, the Company has the right to sell shares of its common stock to LPC from time to time over a 24-month period in amounts between $50,000 and $1,000,000 up to an aggregate amount of $7 million depending upon certain conditions set forth in the purchase agreement including that a registration statement related to the transaction has been declared effective by the U.S. Securities and Exchange Commission (“SEC”). As a result, a registration statement was filed and later declared effective by the SEC on July 12, 2010. Upon signing the agreement, the Company received $200,000 from LPC as an initial purchase in exchange for 571,429 shares (“Initial Purchase Shares”) of the Company’s common stock and warrants to purchase 571,429 shares of the Company’s common stock at an exercise price of $1.50 per share. Subsequent purchases of the Company’s common stock by Lincoln Park under the agreement do not include warrants. In connection with the signing of the LPC financing agreement, the Company issued LPC 12,000 shares of the Company’s common stock for its due diligence efforts and 566,801 shares of the Company’s common stock as a commitment fee for the balance of the $7 million equity purchase commitment.
 
In July of 2010, the Company received $150,000 from LPC in exchange for 375,000 shares of the Company’s common stock. LPC was also issued 6,251 shares of the Company’s common stock as a commitment fee in connection with the purchase of the 375,000 shares of common stock. No warrants to purchase additional shares of common stock of the Company were issued to Lincoln in connection with the sale of the common stock.
 
In September of 2010, the Company received $50,000 from LPC in exchange for 125,000 shares of the Company’s common stock. LPC was also issued 2,084 shares of the Company’s common stock as a commitment fee in connection with the purchase of the 125,000 shares of common stock. No warrants to purchase additional shares of common stock of the Company were issued to Lincoln in connection with the sale of the common stock.
 
In October of 2010, the Company received $50,000 from LPC in exchange for 135,135 shares of the Company’s common stock. LPC was also issued 2,084 shares of the Company’s common stock as a commitment fee in connection with the purchase of the 135,135 shares of common stock. No warrants to purchase additional shares of common stock of the Company were issued to Lincoln in connection with the sale of the common stock.
 
In November of 2010, the Company received $50,000 from LPC in exchange for 135,135 shares of the Company’s common stock. LPC was also issued 2,084 shares of the Company’s common stock as a commitment fee in connection with the purchase of the 135,135 shares of common stock. No warrants to purchase additional shares of common stock of the Company were issued to Lincoln in connection with the sale of the common stock.
 
From November 2010 through April of 2011 the Company sold shares of common stock for $1,794,205 in cash to investors pursuant to a private placement memorandum. In June of 2011, the Company issued 5,980,685 shares of common stock to these investors. In connection with this private placement, in June of 2011 the Company issued 598,069 shares of common stock to the Placement Agent as commission for the shares of common stock sold to investors. No warrants to purchase additional shares of common stock of the Company were issued to these investors in connection with the sale of the common stock.
 
In June of 2011, the Company received $50,000 from LPC in exchange for 164,853 shares of the Company’s common stock. LPC was also issued 2,084 shares of the Company’s common stock as a commitment fee in connection with the purchase of the 164,853 shares of common stock. No warrants to purchase additional shares of common stock of the Company were issued to Lincoln in connection with the sale of the common stock.
 
In October of 2011, the Company issued 1,920,000 shares of common stock for $576,000 to investors who exercised warrants from September to October 2011.
 
In November of 2011, the Company received $25,000 from LPC in exchange for 83,333 shares of the Company’s common stock. LPC was also issued 1,042 shares of the Company’s common stock as a commitment fee in connection with the purchase of the 83,333 shares of common stock. No warrants to purchase additional shares of common stock of the Company were issued to Lincoln in connection with the sale of the common stock.
 
In December of 2011, the Company received $50,000 from LPC in exchange for 172,414 shares of the Company’s common stock. LPC was also issued 2,084 shares of the Company’s common stock as a commitment fee in connection with the purchase of the 172,414 shares of common stock. No warrants to purchase additional shares of common stock of the Company were issued to Lincoln in connection with the sale of the common stock.
 
In March of 2012, the Company received $50,000 from LPC in exchange for 166,667 shares of the Company’s common stock. LPC was also issued 2,084 shares of the Company’s common stock as a commitment fee in connection with the purchase of the 166,667 shares of common stock. No warrants to purchase additional shares of common stock of the Company were issued to Lincoln in connection with the sale of the common stock.
 
In April of 2012, LPC made three separate purchases of the Company’s common stock. The Company received $25,000 from LPC in exchange for 89,286 shares of the Company’s common stock. LPC was also issued 1,042 shares of the Company’s common stock as a commitment fee in connection with the purchase of the 89,286 shares of common stock. The Company received another $25,000 from LPC in exchange for 96,154 shares of the Company’s common stock. LPC was also issued 1,042 shares of the Company’s common stock as a commitment fee in connection with the purchase of the 96,154 shares of common stock. Finally, the Company received $50,000 from LPC in exchange for 185,185 shares of the Company’s common stock. LPC was also issued 2,084 shares of the Company’s common stock as a commitment fee in connection with the purchase of the 185,185 shares of common stock. No warrants to purchase additional shares of common stock of the Company were issued to Lincoln in connection with the sale of the common stock.
 
In June of 2012, the Company sold $150,000 in shares of its common stock pursuant to a private placement, with shares to be issued, and $18,500 in shares of its common stock for services with shares to be issued.
 
In August of 2012, the Company issued 50,000 shares of its common stock for the $18,500 shares for services previously recognized in June 2012.
 
In July through September of 2012, the Company sold $795,001 in shares of its common stock pursuant to a private placement, with shares to be issued.
 
In October through December of 2012, the Company sold $708,600 in shares of its common stock pursuant to a private placement, with shares to be issued.
 
As of December 31, 2012 the Company issued 3,300,337 shares of its common stock to investors who purchased shares of common stock from the period June through September of 2012.
 
In February and March of 2013, the Company sold $346,201 in shares of its common stock pursuant to a private placement, with shares to be issued.
 
In April and May of 2013, the Company sold $2,000,198 in shares of its common stock pursuant to a private placement, with shares to be issued, and $489,501 in shares of its common stock pursuant in a direct offering, with shares to be issued.
 
In June of 2013, the Company issued 11,664,665 shares of common stock to investors in connection with the private placement and direct offering. In June of 2013 the Company issued 1,496,499 shares of common stock to the Placement Agent as commission for the shares of common stock sold to investors. No warrants to purchase additional shares of common stock of the Company were issued to these investors or to the Placement Agent in connection with the sale of the common stock.
 
In August and September of 2013, the Company sold $3,220,966 in shares of its common stock pursuant to a private placement, with shares to be issued.
 
As of September 30, 2013, there were 75,380,214 shares of common stock issued and outstanding. There are no preferred shares outstanding as of September 30, 2013.
XML 39 R22.htm IDEA: XBRL DOCUMENT v2.4.0.8
Accounts Payable - Additional Information (Detail) (USD $)
Sep. 30, 2013
Dec. 31, 2012
Sep. 30, 2012
Accounts Payable [Line Items]      
Accounts payable $ 43,578 $ 57,000  
Accounts payable, other, current 6,900    
Accounts payable - related party 0 8,582 8,582
Accounts payable to communication expenses 9,400    
Accounts payable to legal fees current 9,300    
Consultants
     
Accounts Payable [Line Items]      
Accounts payable, trade 9,900    
Advisors
     
Accounts Payable [Line Items]      
Accounts payable, trade $ 8,100    
XML 40 R20.htm IDEA: XBRL DOCUMENT v2.4.0.8
Related Party - Additional Information (Detail) (USD $)
3 Months Ended
Sep. 30, 2013
Dec. 31, 2012
Sep. 30, 2012
Sep. 30, 2012
MD Anderson Cancer Center
Sep. 30, 2013
MD Anderson Cancer Center
Clinical Trials
Sep. 30, 2012
MD Anderson Cancer Center
Clinical Trials
Sep. 30, 2013
MD Anderson Cancer Center
Research and Development Expense
Sep. 30, 2012
MD Anderson Cancer Center
Research and Development Expense
Related Party Transaction [Line Items]                
Accrued expense - related party $ 52,050 $ 26,000   $ 50,000 $ 52,050 $ 39,000    
Accrued license payments - related party 50,000 100,000            
Cash paid to MD Anderson Cancer Center for expenses             15,000 47,582
Accounts payable - related party 0 8,582 8,582          
Research and Development Expense         15,000 39,000    
Patent Expense       $ 8,582        
XML 41 R1.htm IDEA: XBRL DOCUMENT v2.4.0.8
Document And Entity Information
9 Months Ended
Sep. 30, 2013
Nov. 12, 2013
Document Information [Line Items]    
Document Type 10-Q  
Amendment Flag false  
Document Period End Date Sep. 30, 2013  
Document Fiscal Year Focus 2013  
Document Fiscal Period Focus Q3  
Trading Symbol BPTH  
Entity Common Stock, Shares Outstanding   84,237,872
Entity Registrant Name BIO-PATH HOLDINGS INC  
Entity Central Index Key 0001133818  
Current Fiscal Year End Date --12-31  
Entity Filer Category Smaller Reporting Company  
XML 42 R21.htm IDEA: XBRL DOCUMENT v2.4.0.8
Prepaid Drug Product for Testing - Additional Information (Detail) (USD $)
Sep. 30, 2013
Dec. 31, 2012
Inventory Disclosure [Line Items]    
Prepaid drug product for testing $ 148,301 $ 195,000