Quarterly report pursuant to Section 13 or 15(d)

Condensed Statement Of Cash Flows

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Condensed Statement Of Cash Flows (USD $)
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash Flows from Operating Activities:    
Net loss $ (16,311,483) $ (6,779,759)
Adjustments to reconcile net loss to net cash used in operating activities:    
Compensatory stock 409,000 200,800
Depreciation and amortization 22,418 28,196
Stock-based compensation 424,059 494,037
Amortization of deferred research and development arrangements (214,880) (460,571)
Unrealized loss on fair value of warrants 6,793,765 1,055,505
Financing expense 206,172 112,559
Amortization of deferred lease incentive (9,332) (13,111)
Deferred lease expenses 9,478 7,622
Changes in assets and liabilities:    
Prepaid expenses and other current assets (250,338) (279,649)
Accounts payable and accrued expenses 791,750 (101,595)
Net Cash Used in Operating Activities (8,129,391) (5,735,966)
Cash Flows from Investing Activities:    
Restricted cash equivalents 158,630 582,622
Purchase of equipment (30,154) (46,459)
Purchase of marketable securities (20,555,926)  
Net Cash (Used In) Provided by Investing Activities (20,427,450) 536,163
Cash Flows from Financing Activities:    
Issuance of common stock and units, net of issuance costs 18,634,247 5,173,155
Proceeds from exercise of stock options 258,955 90,000
Proceeds from exercise of stock warrants 5,947,268 1,321,105
Net Cash Provided by Financing Activities 24,840,470 6,584,260
Net (Decrease) Increase in Cash and Cash Equivalents (3,716,371) 1,384,457
Cash and Cash Equivalents - beginning of period 18,688,031 13,486,543
Cash and Cash Equivalents - end of period 14,971,660 14,871,000
Non-cash financing and investing activties:    
Warrants issued 3,691,429 1,406,411
Warrant liability extinguishment from exercise of warrants 10,137,243 1,111,795
Shares withheld for net stock option exercise 100,000  
Leasehold improvement incentive   $ 54,660