Quarterly report pursuant to Section 13 or 15(d)

Condensed Statement Of Cash Flows

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Condensed Statement Of Cash Flows (USD $)
 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash Flows from Operating Activities:    
Net loss $ (14,406,035) $ (4,638,855)
Adjustments to reconcile net loss to net cash used in operating activities:    
Compensatory stock 336,000 137,200
Depreciation and amortization 18,674 18,551
Stock-based compensation 260,868 426,322
Amortization of deferred research and development arrangements (155,474) (382,121)
Unrealized loss on fair value of warrants 7,995,159 837,754
Financing expense 206,172  
Amortization of deferred lease incentive (6,221) (10,000)
Deferred lease expenses 11,123 (10,466)
Changes in assets and liabilities:    
Prepaid expenses and other current assets (394,132) (201,863)
Accounts payable and accrued expenses 606,093 (231,770)
Net Cash Used in Operating Activities (5,527,773) (4,055,248)
Cash Flows from Investing Activities:    
Restricted cash equivalents 117,974 522,922
Purchase of equipment (14,214) (1,609)
Net Cash Provided by Investing Activities 103,760 521,313
Cash Flows from Financing Activities:    
Issuance of common stock and units, net of issuance costs 18,634,247  
Proceeds from exercise of stock options 258,955  
Proceeds from exercise of stock warrants 5,947,268 26,739
Net Cash Provided by Financing Activities 24,840,470 26,739
Net Increase (Decrease) in Cash and Cash Equivalents 19,416,457 (3,507,196)
Cash and Cash Equivalents - beginning of period 18,688,031 13,486,543
Cash and Cash Equivalents - end of period 38,104,488 9,979,347
Non-cash financing and investing activties:    
Warrants issued 3,691,429  
Warrant liability extinguishment from exercise of warrants 10,137,243 16,820
Shares withheld for net stock option exercise $ 100,000