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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
12 Months Ended 141 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2013
Operating activities:        
Net loss $ (16,416,233) $ (31,735,909) $ (50,452,165) $ (231,477,643)
Adjustments to reconcile net loss to net cash used in operating activities:        
Non-cash stock-based compensation 1,847,076 1,828,204 2,648,741 12,665,936
Depreciation and amortization 109,960 127,350 116,465 659,290
Stock issued for license fee 0 0 0 575,023
Non-cash interest expense 0 0 0 34,020
Loss (gain) on disposition of fixed assets 0 25,158 0 22,951
Fair value of warrants for finder's fee 0 0 0 433,750
Changes in operating assets and liabilities:        
Prepaid contract research and manufacturing expenses, other prepaid expenses and other assets (783,509) 615,740 (404,377) (1,134,883)
Accounts payable, accrued contract research and manufacturing expenses and other accrued expenses 792,839 (9,848,177) (200,603) 2,763,118
Accrued restructuring (570,765) 841,184 0 270,419
Accrued compensation and related expenses 13,378 (1,219,502) 252,355 213,313
Net cash used in operating activities (15,007,254) (39,365,952) (48,039,584) (214,974,706)
Investing activities:        
Acquisitions of property and equipment (2,994) (25,260) (227,468) (742,725)
Proceeds from sale of assets 0 12,230 0 15,907
Purchases of short-term investments 0 0 (65,605,570) (115,143,906)
Redemptions of short-term investments 0 4,500,000 61,105,570 115,143,906
Security deposits 0 38,267 (172) 0
Net cash (used in) provided by investing activities (2,994) 4,525,237 (4,727,640) (726,818)
Financing activities:        
Proceeds from borrowings from affiliate 0 0 0 1,745,000
(Repayment of) borrowings from line of credit 0 0 0 0
Proceeds from exercise of stock options 141,012 7,194 0 228,935
Proceeds from exercise of common stock warrants 0 0 8,480,135 9,054,546
Proceeds from sales of equity securities, net of issuance costs 31,767,667 22,151,851 37,726,538 250,317,683
Receipt of recovery of short-swing profits 0 0 73,797 73,797
Recapitalization of the Company 0 0 0 (400,000)
Receipt of cash for stock subscription receivable 0 0 0 4,625
Net cash provided by financing activities 31,908,679 22,159,045 46,280,470 261,024,586
Net increase (decrease) in cash and cash equivalents 16,898,431 (12,681,670) (6,486,754) 45,323,062
Cash and cash equivalents, beginning of period 28,424,631 41,106,301 47,593,055 0
Cash and cash equivalents, end of period 45,323,062 28,424,631 41,106,301 45,323,062
Supplemental disclosure of cash flow information:        
Cash paid for interest $ 0 $ 0 $ 0 $ 224,328