Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Significant components of our deferred tax assets and liabilities are as follows:

	December 31,
	2014		2013
Deferred tax assets/(liabilities)
Net operating loss carry-forwards	$	61,332,000	$	59,051,000
Research and orphan drug credit carry-forwards		3,855,000		3,700,000
Depreciation and amortization		(8,000)		(4,000)
Stock options and other		1,381,000		1,121,000
Intangible assets		(3,155,000)		(3,162,000)
Net deferred tax assets/(liabilities)		63,405,000		60,708,000
Valuation allowance for deferred tax assets		(66,483,000)		(63,786,000)
Net deferred tax assets/(liabilities)	$	(3,078,000)	$	(3,078,000)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The Company has provided a valuation allowance to offset the deferred tax assets due to the uncertainty of realizing the benefits of the net deferred tax asset.

	December 31,
	2014		2013
Percent of pre-tax income:
U.S. federal statutory income tax rate	34.0	%	34.0	%
Warrant liability and preferred stock conversion liability	(54.9)	%	(24.8)	%
Other permanent differences	1.0	%	(2.1)	%
State taxes, net of federal benefit	3.7	%	3.7	%
Change in valuation allowance	16.2	%	(10.8)	%
Effective income tax rate	0.0	%	0.0	%