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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
6 Months Ended 135 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Operating activities:      
Net loss $ (7,253,103) $ (23,431,502) $ (222,314,513)
Adjustments to reconcile net loss to net cash used in operating activities:      
Non-cash stock-based compensation 1,034,624 1,281,688 11,853,484
Depreciation and amortization 59,375 68,115 608,705
Stock issued for license agreement 0 0 575,023
Non-cash interest expense 0 0 34,020
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 (118,218) (353,989) (469,592)
Accounts payable, accrued contract research and manufacturing expenses and other accrued expenses 102,115 (3,474,498) 2,072,394
Accrued compensation and related expenses 8,385 (1,039,518) 208,320
Accrued restructuring (321,705) 0 519,479
Net cash used in operating activities (6,488,527) (26,949,704) (206,455,979)
Investing activities:      
Acquisitions of property and equipment 0 (23,121) (739,731)
Proceeds from sale of assets 0 0 15,907
Purchases of short-term investments 0 0 (115,143,906)
Redemptions and sales of short-term investments 0 4,500,000 115,143,906
Security deposits 0 38,267 0
Net cash provided by (used in) investing activities 0 4,515,146 (723,824)
Financing activities:      
Proceeds from borrowings from affiliate 0 0 1,745,000
Proceeds from exercise of stock options 76,362 0 164,285
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 22,151,851 218,550,016
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 76,362 22,151,851 229,192,269
Net (decrease) increase in cash and cash equivalents (6,412,165) (282,707) 22,012,466
Cash and cash equivalents, beginning of period 28,424,631 41,106,301 0
Cash and cash equivalents, end of period 22,012,466 40,823,594 22,012,466
Supplemental disclosure of cash flow information:      
Cash paid for interest $ 0 $ 0 $ 224,328