Income Taxes (Tables)

12 Months Ended

Sep. 30, 2013

Income Tax Disclosure [Abstract]

Components of the Income Tax Provision

Components of the income tax provision are as follows for the fiscal years ended September 30, 2013, 2012 and 2011:

	2013			2012			2011
Current:
State	$	3,200		$	3,200		$	3,200
Deferred:
Federal		(23,055,582	)		(15,486,906	)		(18,297,582	)
State		(4,938,691	)		(2,731,249	)		(2,020,800	)
		(27,994,273	)		(18,218,155	)		(20,318,382	)
Increase in deferred income tax asset valuation allowance		27,994,273			18,218,155			20,318,382
Total income tax provision	$	3,200		$	3,200		$	3,200

Significant Components of Deferred Tax Assets and Liabilities

Significant components of the Company’s net deferred income tax balance are as follows:

	September 30,
	2013			2012			2011
Net operating loss carryforwards	$	155,960,858		$	135,430,308		$	117,027,433
Deferred revenue		504,143			1,570,370			2,960,454
Research credit carryforwards		9,185,508			11,202,848			11,560,603
Capitalized license fees and patents		10,176,119			2,017,029			2,342,589
Capitalized research and development costs		29,705			99,671			263,942
Share-based compensation and options		8,452,457			6,979,532			5,586,697
Foreign tax credits		—			—			595,912
Other		3,404,764			2,579,478			1,480,613
Deferred income tax assets		187,713,554			159,879,236			141,818,243
Deferred tax liabilities:
Other		(162,824	)		(322,779	)		(479,941	)
Deferred tax liabilities		(162,824	)		(322,779	)		(479,941	)
Less valuation allowance for net deferred income tax assets		(187,550,730	)		(159,556,457	)		(141,338,302	)
Net deferred tax assets / (liabilities)	$	—		$	—		$	—

Reconciliation of the Federal Statutory Rate to the Effective Income Tax Rate

A reconciliation of the federal statutory income tax rate and the effective income tax rate is as follows for the fiscal years ended September 30:

	2013			2012			2011
Federal statutory rate		(34	)%		(34	)%		(34	)%
Increase in deferred income tax asset valuation allowance		37			31			34
State income taxes, net of federal effect		(5	)		(5	)		(4	)
Research and development credits		3			1			0
Expired net operating loss and other credits		—			6			4
Other		(1	)		1			0
Effective income tax rate		0	%		0	%		0	%