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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
9 Months Ended 138 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Operating activities:      
Net loss $ (11,095,786) $ (29,507,800) $ (226,157,196)
Adjustments to reconcile net loss to net cash used in operating activities:      
Non-cash stock-based compensation 1,448,294 1,385,400 12,267,154
Depreciation and amortization 87,868 97,441 637,198
Stock issued for license agreement 0 0 575,023
Non-cash interest expense 0 0 34,020
Gain on disposition of assets 0 37,388 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 (848,239) 379,203 (1,199,613)
Accounts payable, accrued contract research and manufacturing expenses and other accrued expenses 403,412 (6,942,266) 2,373,691
Accrued compensation and related expenses (14,845) (1,209,676) 185,090
Accrued restructuring (446,235) 1,026,931 394,949
Net cash used in operating activities (10,465,531) (34,733,379) (210,432,983)
Investing activities:      
Acquisitions of property and equipment 0 (25,260) (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 4,513,007 (723,824)
Financing activities:      
Proceeds from borrowings from affiliate 0 0 1,745,000
Proceeds from exercise of stock options 141,012 0 228,935
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 2,781,604 22,151,851 221,331,620
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 2,922,616 22,151,851 232,038,523
Net (decrease) increase in cash and cash equivalents (7,542,915) (8,068,521) 20,881,716
Cash and cash equivalents, beginning of period 28,424,631 41,106,301 0
Cash and cash equivalents, end of period 20,881,716 33,037,780 20,881,716
Supplemental disclosure of cash flow information:      
Cash paid for interest $ 0 $ 0 $ 224,328