Accrued Expenses

9 Months Ended

Sep. 30, 2014

Accrued Expenses

Accrued Expenses

5. Accrued Expenses

At September 30, 2014 and December 31, 2013 accrued expenses consisted of the following:

	September 30, 2014		December 31, 2013
Investor deposit	$	—	$	500,000
Payroll and related costs	255,395		203,718
Clinical trials and drug development	84,403		73,500
Professional fees	110,420		295,000
Other	57,861		24,256
	$	508,079	$	1,096,474

Investor deposit represents funds received from an investor for 422,119 shares of Series C Preferred Stock. The shares were issued in April 2014 and subsequently converted to common stock upon the closing of our initial public offering.