Quarterly report pursuant to Section 13 or 15(d)

Statement of Cash Flows

v2.4.0.8
Statement of Cash Flows (USD $)
 9 Months Ended 150 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Cash Flows from Operating Activities:      
Net loss $ (6,779,759) $ (6,171,266) $ (70,091,042)
Adjustments to reconcile net loss to net cash used in operating activities:      
Beneficial conversion feature     1,625,000
Compensatory stock 200,800   2,330,677
Depreciation and amortization 28,196 32,163 711,119
Stock-based compensation 494,037 202,537 6,302,653
Amortization of deferred research and development arrangement (460,571) (56,250) (1,260,571)
Note receivable (Note 5)   18,682  
Realized losses on marketable securities     13,301
Unrealized loss/(gain) on fair value of warrants 1,055,505 655,545 (3,284,476)
Unrealized gain on fair value of put feature on common stock     (2,315,539)
Financing expense 112,559   1,084,690
Amortization of deferred lease incentive (13,111) (15,000) (83,111)
Deferred lease expenses 7,622 (13,739) 43,039
Loss on impairment of intangible assets     286,132
Changes in assets and liabilities:      
Prepaid expenses and other current assets (279,649) 115,145 (468,457)
Accounts payable and accrued expenses (101,595) (313,898) 750,242
Net Cash Used in Operating Activities (5,735,966) (5,546,081) (64,356,343)
Cash Flows from Investing Activities:      
Restricted cash equivalents 582,622 1,214,592 (509,179)
Purchase of equipment (46,459)   (611,454)
Purchase of marketable securities     (21,123,960)
Proceeds from sales of marketable securities   1,850,000 21,010,659
Payment of licensing fees     (356,216)
Net Cash Provided By (Used in) Investing Activities 536,163 3,064,592 (1,590,150)
Cash Flows from Financing Activities:      
Issuance of common stock and units, net of issuance costs 5,173,155   68,107,379
Proceeds from exercise of stock options 90,000   260,082
Proceeds from exercise of stock warrants 1,321,105   4,902,442
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 6,584,260   80,817,493
Net Increase (Decrease) in Cash and Cash Equivalents 1,384,457 (2,481,489) 14,871,000
Cash and Cash Equivalents - beginning of period 13,486,543 9,861,488  
Cash and Cash Equivalents - end of period 14,871,000 7,379,999 14,871,000
Supplemental Cash Flow Information      
Interest paid     301,147
Non-cash financing and investing activties:      
Warrants issued 1,406,441   15,098,084
Put feature on common stock issued     4,954,738
Dilutive issuances of common stock     2,639,199
Warrant liability extinguishment from exercise of warrants 1,111,795   7,292,455
Leasehold improvement incentive 54,660   154,660
Settlement of lawsuit     $ 43,953