Quarterly report pursuant to Section 13 or 15(d)

Statement of Cash Flows

v2.4.0.6
Statement of Cash Flows (USD $)
 3 Months Ended 144 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Mar. 31, 2013
Cash Flows from Operating Activities:      
Net loss $ (1,530,105) $ (2,139,794) $ (64,841,388)
Adjustments to reconcile net loss to net cash used in operating activities:      
Beneficial conversion feature     1,625,000
Compensatory stock     2,129,877
Depreciation and amortization 9,316 10,721 692,239
Stock-based compensation 371,951 91,174 6,180,567
Amortization of deferred research and development arrangement (153,371) (18,750) (953,371)
Note receivable (Note 5)   7,006  
Realized losses on marketable securities     13,301
Unrealized (gain)/loss on fair value of warrants (368,902) 261,861 (4,708,883)
Unrealized gain on fair value of put feature on common stock     (2,315,539)
Financing expense     972,131
Amortization of deferred lease incentive (5,000) (5,000) (75,000)
Deferred lease expenses (5,233) (4,253) 30,184
Loss on impairment of intangible assets     286,132
Changes in assets and liabilities:      
Prepaid expenses and other current assets 5,488 45,919 (183,320)
Accounts payable and accrued expenses 124,329 (165,394) 976,166
Net Cash Used in Operating Activities (1,551,527) (1,916,510) (60,171,904)
Cash Flows from Investing Activities:      
Restricted cash equivalents 134,621 156,134 (957,180)
Purchase of equipment (609)   (565,604)
Purchase of marketable securities     (21,123,960)
Proceeds from sales of marketable securities     21,010,659
Payment of licensing fees     (356,216)
Net Cash Provided By (Used in) Investing Activities 134,012 156,134 (1,992,301)
Cash Flows from Financing Activities:      
Issuance of common stock and units, net of issuance costs     62,934,224
Proceeds from exercise of stock options     170,082
Proceeds from exercise of stock warrants     3,581,337
Proceeds from long-term debt     5,150,000
Proceeds from research and development arrangement     2,426,000
Purchase of treasury stock     (28,410)
Net Cash Provided by Financing Activities     74,233,233
Net (Decrease) Increase in Cash and Cash Equivalents (1,417,515) (1,760,376) 12,069,028
Cash and Cash Equivalents - beginning of period 13,486,543 9,861,488  
Cash and Cash Equivalents - end of period 12,069,028 8,101,112 12,069,028
Supplemental Cash Flow Information      
Interest paid     301,147
Non-cash financing and investing activties:      
Warrants issued     13,691,643
Put feature on common stock issued     4,954,738
Dilutive issuances of common stock     2,639,199
Warrant liability extinguishment from exercise of warrants     6,180,660
Leasehold improvement incentive     100,000
Settlement of lawsuit     $ 43,953