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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
3 Months Ended 132 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Mar. 31, 2013
Operating activities:      
Net loss $ (3,917,219) $ (15,559,218) $ (218,978,629)
Adjustments to reconcile net loss to net cash used in operating activities:      
Non-cash stock-based compensation 625,874 828,084 11,444,734
Depreciation and amortization 29,909 33,965 579,239
Stock issued for license agreement 0 0 575,023
Non-cash interest expense 0 0 34,020
Loss (gain) on disposition of assets 0 0 22,951
Fair value of warrants for finder's agreement 0 0 433,750
Changes in operating assets and liabilities:      
Prepaid contract research and manufacturing expenses, other prepaid expenses and other assets (188,135) (560,177) (539,509)
Accounts payable, accrued contract research and manufacturing expenses and other accrued expenses 103,818 (167,191) 2,074,097
Accrued compensation and related expenses 173,257 (625,594) 373,192
Accrued restructuring (193,013) 0 648,171
Net cash used in operating activities (3,365,509) (16,050,131) (203,332,961)
Investing activities:      
Acquisitions of property and equipment 0 (20,929) (739,731)
Proceeds from sale of assets 0 0 15,907
Puchases of short-term investments 0 0 (115,143,906)
Redemptions and sales of short-term investments 0 4,500,000 115,143,906
Net cash provided by (used in) investing activities 0 4,479,071 (723,824)
Financing activities:      
Proceeds from borrowings from affiliate 0 0 1,745,000
Proceeds from exercise of stock options 0 0 87,923
Proceeds from exercise of common stock warrants 0 0 9,054,546
Recapitalization of the Company 0 0 (400,000)
Proceeds from sales of equity securities, net of issuance costs 0 22,145,220 218,550,016
Receipt of recovery of short-swing profits 0 0 73,797
Receipt of cash for stock subscription receivable 0 0 4,625
Net cash provided by financing activities 0 22,145,220 229,115,907
Net (decrease) increase in cash and cash equivalents (3,365,509) 10,574,160 25,059,122
Cash and cash equivalents, beginning of period 28,424,631 41,106,301 0
Cash and cash equivalents, end of period 25,059,122 51,680,461 25,059,122
Supplemental disclosure of cash flow information:      
Cash paid for interest $ 0 $ 0 $ 224,328