Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2013

Property, Plant, and Equipment Useful Lives

Equipment is depreciated using the straight-line method over the estimated useful lives of the respective assets as follows:


Asset Category	Estimated Useful Life (in Years)
Laboratory equipment		5
Furniture and fixtures		5
Computer equipment		3

Summary of Assumptions Used in Valuing Stock Options Granted

The Company utilizes the Black-Scholes valuation model for estimating the fair value of all stock options granted. Set forth below are the assumptions used in valuing the stock options granted and a discussion of the Company’s methodology for developing each of the assumptions used:


	For the year ended December 31,
	2013			2012			2011
Risk-free interest rate		.02 - 1.92	%		.65 - 1.49	%		.96 - 2.61	%
Expected dividend yield		0	%		0	%		0	%
Expected life		5 - 7.3 Years			5 - 6 Years			5 - 6 Years
Expected volatility		78.62 - 89.66	%		86.58 - 92.60	%		84.28 - 92.38	%

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The Company has excluded the following outstanding warrants and options from the calculation of diluted net loss per share because all such securities were antidilutive for the periods presented:


	As of December 31,
Common Equivalent Securities	2013		2012		2011
Preferred Shares		—		—		—
Warrants		10,534,245		10,377,995		12,564,193
Options		5,564,833		5,016,966		4,117,979

Total		16,099,078		15,394,961		16,682,172