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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
3 Months Ended 144 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2014
Operating activities:      
Net loss $ (8,073,660) $ (3,917,219) $ (239,551,303)
Adjustments to reconcile net loss to net cash used in operating activities:      
Non-cash stock-based compensation 706,060 625,874 13,371,996
Depreciation and amortization 16,083 29,909 675,373
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 (108,886) (188,135) (1,243,769)
Accounts payable, accrued contract research and manufacturing expenses and other accrued expenses 722,421 103,818 3,485,538
Accrued compensation and related expenses 234,806 173,257 505,225
Accrued restructuring (230,257) (193,013) (16,944)
Net cash used in operating activities (6,733,433) (3,365,509) (221,708,140)
Investing activities:      
Acquisitions of property and equipment 0 0 (742,724)
Investment in intangible asset (1,500,000) 0 (1,500,000)
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 0 115,143,906
Net cash used in investing activities (1,500,000) 0 (2,226,817)
Financing activities:      
Proceeds from borrowings from affiliate 0 0 1,745,000
Proceeds from exercise of stock options 594 0 229,529
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 0 250,317,683
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 594 0 261,025,180
Net (decrease) increase in cash and cash equivalents (8,232,839) (3,365,509) 37,090,223
Cash and cash equivalents, beginning of period 45,323,062 28,424,631 0
Cash and cash equivalents, end of period 37,090,223 25,059,122 37,090,223
Supplemental disclosure of cash flow information:      
Cash paid for interest $ 0 $ 0 $ 224,328