Inhibitor Therapeutics (INTI) 10-Q 14 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 14, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	HPPI
Entity Registrant Name	HedgePath Pharmaceuticals, Inc.
Entity Central Index Key	1,042,418
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		245,353,270

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 1,893,572	$ 365,161
Prepaid expenses and other current assets	46,274	97,817
Total current assets	1,939,846	462,978
Other long-term assets	250,000
Total assets	2,189,846	462,978
Current liabilities:
Accounts payable	246,470	324,966
Other liabilities	166,221	75,933
Total current liabilities	412,691	400,899
Total liabilities	$ 412,691	$ 400,899
Commitments and contingencies
Stockholders' equity:
Common stock, $0.0001 par value; 340,000,000 shares authorized; 245,353,270 and 211,419,937 shares issued and outstanding at June 30, 2015 and December 31, 2014, respectively	$ 24,535	$ 21,142
Additional paid-in capital	35,689,903	32,263,890
Accumulated deficit	(33,937,283)	(32,222,953)
Total stockholders' equity	1,777,155	62,079
Total liabilities and stockholders' equity	$ 2,189,846	$ 462,978

Condensed Balance Sheets (Unau3

Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	340,000,000	340,000,000
Common stock, shares issued	245,353,270	211,419,937
Common stock, shares outstanding	245,353,270	211,419,937

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues:
Total Revenues:	$ 0	$ 0	$ 0	$ 0
Expenses:
Research and development expenses	300,288	1,930,482	613,305	1,955,807
General and administrative	491,368	185,182	1,101,025	346,787
Total Expenses:	791,656	2,115,664	1,714,330	2,302,594
Loss from operations	(791,656)	(2,115,664)	(1,714,330)	(2,302,594)
Interest expense		(24,994)		(34,552)
Net loss	$ (791,656)	$ (2,140,658)	$ (1,714,330)	$ (2,337,146)
Basic and diluted net loss per share	$ 0	$ (0.10)	$ (0.01)	$ (0.12)
Weighted average common stock shares outstanding	227,827,263	20,622,065	219,668,924	19,760,306

Condensed Statement of Stockhol

Condensed Statement of Stockholders' Equity (Unaudited) - 6 months ended Jun. 30, 2015 - USD ($)	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]
Beginning balance at Dec. 31, 2014	$ 62,079	$ 21,142	$ 32,263,890	$ (32,222,953)
Beginning balance, shares at Dec. 31, 2014	211,419,937	211,419,937
Sale of common stock and common stock warrants to related party	$ 2,500,000	$ 3,333	2,496,667
Sale of common stock and common stock warrants to related party, shares		33,333,333
Common shares issued for payment of trade payables	90,000	$ 60	89,940
Common shares issued for payment of trade payables, shares		600,000
Stock-based compensation	839,406		839,406
Net loss	(1,714,330)			(1,714,330)
Ending balance at Jun. 30, 2015	$ 1,777,155	$ 24,535	$ 35,689,903	$ (33,937,283)
Ending balance, shares at Jun. 30, 2015	245,353,270	245,353,270

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Operating activities:
Net loss	$ (1,714,330)	$ (2,337,146)
Adjustments to reconcile net loss to net cash flows from operating activities:
In-process research and development purchased with the issuance of preferred stock and common stock warrants		1,909,860
Non-cash interest expense		24,666
Stock based compensation	839,406
Changes in assets and liabilities:
Prepaid expense, other current assets, and other assets	(198,457)	(19,291)
Accounts payable and other current liabilities	101,792	19,282
Net cash used in operating activities	(971,589)	(402,629)
Financing activities:
Proceeds from related party advances		273,638
Proceeds from sale of common stock and common stock warrants to related party	2,500,000	400,000
Net cash flows from financing activities	2,500,000	673,638
Net change in cash and cash equivalents	1,528,411	271,009
Cash and cash equivalents at beginning of period	365,161	217
Cash and cash equivalents at end of period	1,893,572	271,226
Supplemental disclosure of non-cash financing activity:
Issuance of common stock for common stock subscription receivable		110,000
Issuance of common stock in payment of trade payables	$ 90,000
Common Stock [Member]
Supplemental disclosure of non-cash financing activity:
Issuance of stock in debt forgiveness transaction		189,768
Warrants [Member]
Supplemental disclosure of non-cash financing activity:
Issuance of stock in debt forgiveness transaction		$ 450,000

Corporate Overview

Corporate Overview	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Corporate Overview	1. Corporate overview: Overview The accompanying unaudited condensed financial statements of HedgePath Pharmaceuticals, Inc., a Delaware corporation (the “Company”, “HPPI”, “we”, “us” or similar terminology), have been prepared by the Company without audit. In the opinion of management, all adjustments (which include normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows as of June 30, 2015, and for all periods presented, have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted pursuant to the Securities and Exchange Commission (“SEC”) rules and regulations. These unaudited condensed financial statements should be read in conjunction with the audited financial statements and notes thereto for the year ended December 31, 2014, which are included in the Company’s 2014 Annual Report on Form 10-K, filed with the SEC on February 13, 2015 (the “2014 Annual Report”). The accompanying condensed balance sheet at December 31, 2014 has been derived from the audited financial statements at that date, but does not include all information and footnotes required by GAAP for complete financial statements. As used herein, the term “Common Stock” means the Company’s common stock, $0.0001 par value per share. The results of operations for the three and six month periods ended June 30, 2015 are not necessarily indicative of results that may be expected for any other interim period or for the full fiscal year. Readers of this Quarterly Report are strongly encouraged to review the risk factors relating to the Company which are set forth in the 2014 Annual Report and our other filings with the SEC. The accompanying financial statements have been prepared on a going concern basis which contemplates the realization of assets and satisfaction of liabilities of the Company in the normal course of business. If the Company is unable to raise required funding to continue to pursue its business plan, it may have to cease operations. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. Nature of the Business and Background The Company is a clinical stage biopharmaceutical company that is seeking to discover, develop and commercialize innovative therapeutics for patients with certain cancers. The Company’s preliminary focus is on the development of therapies for skin, lung and prostate cancers in the United States of America (“U.S.”) market, with the first indication targeting basal cell carcinoma in patients with Basal Cell Carcinoma Nevus Syndrome (also known as Gorlin Syndrome). The Company’s proposed therapy is based upon the use of SUBA-Itraconazole™, a patented, oral formulation of the currently marketed anti-fungal drug itraconazole. The Company believes that the dosing of oral capsules of this formulation can affect the Hedgehog signaling pathway, a major regulator of many fundamental cellular processes, which, in turn, can impact the development and growth of cancers such as basal cell carcinoma. Itraconazole has been approved by the U.S. Food and Drug Administration (“FDA”) for, and has been extensively used to treat, fungal infections and has an extensive history of safe and effective use in humans. The Company has developed, optioned and licensed intellectual property and know-how related to the treatment of cancer patients using itraconazole and has applied for patents to cover the Company’s inventions. On July 24,2015, the US Patent and Trademark Office issued a Notice of Allowance with respect to the Company’s US patent application, #14/173,588, “Treatment and Prognostic Monitoring of Proliferation Disorders Using Hedgehog Pathway Inhibitors”, which was filed on February 5, 2014. Relationship with Mayne Pharma Ventures Pty Ltd. The Company has exclusive rights in the U.S. to develop and to commercialize SUBA-Itraconazole Capsules for the treatment of human cancer via oral administration. SUBA-Itraconazole was developed and is licensed to us by our manufacturing partner and significant shareholder Mayne Pharma Ventures Pty Ltd. and its affiliates (“Mayne Pharma”) under a supply and license agreement, originally dated September 3, 2013 and most recently amended and restated on May 15, 2015 (the “SLA”). Mayne Pharma is an Australian specialty pharmaceutical company that develops and manufactures branded and generic products, which it distributes directly or through distribution partners and also provides contract development and manufacturing services. In addition to being the Company’s licensor and supply partner, under the SLA and related agreements, Mayne Pharma holds a significant minority equity stake in the Company and holds important rights with respect to the Company, such as the right to appoint a member to the Company’s Board of Directors. In addition, the Company expects to obtain a sublicense from Mayne Pharma to rights for certain patents regarding the use of itraconazole as a cancer treatment. On May 15, 2015, the Company and Mayne Pharma, along with Nicholas J. Virca, the Company’s President and Chief Executive Officer (“Virca”), Frank O’Donnell, Jr., M.D., the Company’s Executive Chairman (“O’Donnell”) and Hedgepath, LLC, a Florida limited liability company and substantial stockholder of the Company which is controlled by Black Robe Capital LLC, of which O’Donnell is the manager (“HPLLC”), consummated a series of related transactions in connection with a $2.5 million equity financing for the Company from Mayne Pharma and to remedy certain breaches by the Company related to the agreements previously consummated by the Company, Mayne Pharma, HPLLC, Virca and O’Donnell on June 24, 2014. For more information regarding the equity financing, see note 6.

Liquidity and Management's Plan

Liquidity and Management's Plans	6 Months Ended
	Jun. 30, 2015
Text Block [Abstract]
Liquidity and Management's Plans	2. Liquidity and management’s plans: The Company had cash and cash equivalents of approximately $1.9 million as of June 30, 2015 which should fund current anticipated operations into the first quarter of next year, but requires significant additional financing for its research and development, commercialization and distribution efforts, and its working capital. The Company intends to finance these activities primarily through: • public and private financings and, potentially, from strategic transactions; • potential partnerships with other pharmaceutical companies to assist in the supply, manufacturing and distribution of its products for which the Company would expect to receive upfront milestone and royalty payments; • potential licensing and joint venture arrangements with third parties, including other pharmaceutical companies where the Company would receive funding based on out-licensing its product; and • seeking government or private foundation grants which would be awarded to the Company to further develop its current and future anti-cancer therapies. However, there is a material risk that none of these plans will be implemented and that the Company will be unable to obtain additional financing on commercially reasonable terms, if at all. If adequate funds are not available, the Company may be required to significantly reduce or refocus operations or to obtain funds through arrangements that may require the Company to relinquish rights to technologies or potential markets, any of which could have a material adverse effect on the Company, its viability, its financial condition and its results of operations in 2015 and beyond. To the extent that additional capital is raised through the sale of equity or convertible debt securities or exercise of warrants and options, the issuance of such securities would result in ownership dilution to existing stockholders. As a result, there is substantial doubt about the Company’s ability to continue as a going concern. The Company’s current independent registered public accounting firm has included a paragraph emphasizing this going concern uncertainty in their audit report on the 2014 financial statements dated February 13, 2015. The condensed financial statements included herein do not include any adjustments relating to the recoverability or classification of asset carrying amounts or the amounts and classification of liabilities that may result should the Company be unable to continue as a going concern.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	3. Summary of Significant Accounting Policies: Estimates The preparation of condensed financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates. Revenue Recognition The Company currently has no ongoing source of revenues. Miscellaneous income is recognized when earned by the Company. Cash and Cash Equivalents The Company considers all highly liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents. At times, the Company may maintain cash balances in excess of Federal Deposit Insurance Corporation insured amounts which is up to $250,000 for substantially all depository accounts. As of June 30, 2015, the Company had approximately $1.4 million which exceeded these insured limits. Research and Development Expenses Research and development costs are expensed in the period in which they are incurred and include the expenses paid to third parties who conduct research and development activities on behalf of the Company as well as purchased in-process research and development. Stock-Based Compensation The Company accounts for stock-based awards to employees and non-employees using Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 718 – Accounting for Share-Based Payments, which provides for the use of the fair value based method to determine compensation for all arrangements where shares of stock or equity instruments are issued for compensation. Fair values of equity securities issued are determined by the Company based predominantly on the trading price of the Common Stock. The value of these awards is based upon their grant-date fair value. That cost is recognized over the period during which the employee is required to provide service in exchange for the award. Income Taxes Deferred tax assets and liabilities are recognized for future tax consequences attributed to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and are measured using enacted tax rates that are expected to apply to the differences in the periods that they are expected to reverse. Management has evaluated the guidance relating to accounting for uncertainty in income taxes and has determined that the Company had no uncertain income tax positions that could have a significant effect on the condensed financial statements for the six months ended June 30, 2015 or 2014. Recent accounting pronouncements: In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update 2014-09, “Revenue from Contracts with Customers,” which supersedes the revenue recognition requirements of Accounting Standards Codification (“ASC”) Topic 605, “Revenue Recognition” and most industry-specific guidance on revenue recognition throughout the ASC. The new standard is principles-based and provides a five step model to determine when and how revenue is recognized. The core principle of the new standard is that revenue should be recognized when a company transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The new standard also requires disclosure of qualitative and quantitative information surrounding the amount, nature, timing and uncertainty of revenues and cash flows arising from contracts with customers. The new standard, as updated in 2015, will be effective for the Company in the first quarter of the year ending December 31, 2018 and can be applied either retrospectively to all periods presented or as a cumulative-effect adjustment as of the date of adoption. Early adoption is not permitted. The Company will evaluate the impact of adoption of this standard on its financial statements upon commencement of revenue generating activities.

Other Long-term Assets

Other Long-term Assets	6 Months Ended
	Jun. 30, 2015
Text Block [Abstract]
Other Long-term Assets	4. Other long-term assets: Other long-term assets consists of a $250,000 deposit with our independent contract research organization. The deposit is fully refundable at the conclusion of our clinical trial which targets basal cell carcinoma in patients with Basal Cell Carcinoma Nevus Syndrome.

Other Liabilities

Other Liabilities	6 Months Ended
	Jun. 30, 2015
Other Liabilities Disclosure [Abstract]
Other Liabilities	5. Other liabilities: At June 30, 2015 and December 31, 2014 other liabilities include $52,500 payable to a third party service provider for which the Company has agreed to issue a number of restricted shares of its Common Stock to be determined based on the valuation of the shares to be issued to purchasers in connection with the Company’s offering of securities as described in Commonwealth Biotechnology, Inc.’s (“CBI”) Amended Plan of Reorganization filed in 2013. Such shares of Common Stock are to be issued to such service provider within five (5) business days of the final determination of such valuation (as memorialized in the final transaction documentation for such offering). Additional other liabilities at June 30, 2015 and December 31, 2014 include approximately $103,000 and $23,000 of accrued legal and research and development expenses, respectively.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Stockholders' Equity	6. Stockholders’ Equity: Securities Purchase Agreement On May 15, 2015, the Company and Mayne Pharma entered into a Securities Purchase Agreement (the “Purchase Agreement”) pursuant to which, in consideration of Mayne Pharma’s investment of $2.5 million in the Company, the Company issued (i) 33,333,333 shares of Common Stock and (ii) a warrant to purchase 33,333,333 shares of Common Stock (the “Warrant”) for an aggregate purchase price of $2,500,000, or $0.075 per share. The transaction contemplated by the Purchase Agreement formally closed on May 18, 2015. The Warrant is immediately exercisable, subject to certain restrictions, at an exercise price of $0.075 per share and expires on May 15, 2020. Employee Stock Plans Total stock-based compensation for the six months ended June 30, 2015 was $839,406 and is related to certain Restricted Stock Units (“RSUs”) granted in 2014 in connection with the Company’s 2014 Equity Incentive Plan. The expense is classified as research and development expense and general and administrative expense in the accompanying condensed 2015 statement of operations. There was approximately $2.2 million in unamortized stock-based compensation relating to the RSUs at June 30, 2015, which is expected to be recognized over the next 27 months. The fair value of the RSUs was determined using the quoted market price of the Common Stock on the date of issuance and the number of shares expected to vest.

Legal Proceedings

Legal Proceedings	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	7. Legal Proceedings: Chien Connecticut Case In October 2012, Andrew Chien (“Chien”), an alleged shareholder of our predecessor, CBI, filed suit in Connecticut state court (later removed to the United States District Court for the District of Connecticut (the “CT District Court”)) against CBI, Dr. Richard J. Freer (a director and officer of CBI) (“Freer”), and the law firm LeClairRyan (the “Chien Connecticut Case”). In October 2012, the CT District Court in the Chien Connecticut Case entered an Order dismissing Chien’s claims without prejudice on account of CBI’s pending Chapter 11 bankruptcy. Chien filed various motions in response to the CT District Court’s decision dismissing the claims asserted against Freer and LeClairRyan, including a motion for reconsideration. On Thursday, May 29, 2014, the presiding judge issued several orders. The CT District Court granted Chien’s request that he be allowed to proceed with the fifth and six claims he asserted against CBI in his Complaint, namely (i) a claim for relief entitled “Securities Fraud and Fiduciary Duty Violation against CBI” and (ii) a claim for relief entitled “Fiduciary Duty violation against CBI” (collectively, the “Chien Claims”). A related scheduling order provided that CBI had until June 20, 2014 to answer or otherwise respond to the Complaint. We have retained LeClairRyan to serve as CBI’s counsel in the Chien Connecticut Case. On June 20, 2014, LeClairRyan filed on CBI’s behalf a motion to dismiss seeking a dismissal with prejudice of the Chien Claims. LeClairRyan also filed on CBI’s behalf a motion to stay discovery. On August 5, 2014, the CT District Court granted CBI’s motion to stay discovery. On November 4, 2014, the CT District Court dismissed the case and the matter was closed by the CT District Court. On December 1, 2014, Chien filed various motions including a Motion to Reargue. In response, the Company filed a consolidated opposition to Chien’s various pleadings, including to the Motion to Reargue. In June 2015, the CT District Court denied all motions including Chien’s Motion to Reargue.

Summary of Significant Accoun14

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Estimates	Estimates The preparation of condensed financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.
Revenue Recognition	Revenue Recognition The Company currently has no ongoing source of revenues. Miscellaneous income is recognized when earned by the Company.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents. At times, the Company may maintain cash balances in excess of Federal Deposit Insurance Corporation insured amounts which is up to $250,000 for substantially all depository accounts. As of June 30, 2015, the Company had approximately $1.4 million which exceeded these insured limits.
Research and Development Expenses	Research and Development Expenses Research and development costs are expensed in the period in which they are incurred and include the expenses paid to third parties who conduct research and development activities on behalf of the Company as well as purchased in-process research and development.
Stock-Based Compensation	Stock-Based Compensation The Company accounts for stock-based awards to employees and non-employees using Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 718 – Accounting for Share-Based Payments, which provides for the use of the fair value based method to determine compensation for all arrangements where shares of stock or equity instruments are issued for compensation. Fair values of equity securities issued are determined by the Company based predominantly on the trading price of the Common Stock. The value of these awards is based upon their grant-date fair value. That cost is recognized over the period during which the employee is required to provide service in exchange for the award.
Income Taxes	Income Taxes Deferred tax assets and liabilities are recognized for future tax consequences attributed to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and are measured using enacted tax rates that are expected to apply to the differences in the periods that they are expected to reverse. Management has evaluated the guidance relating to accounting for uncertainty in income taxes and has determined that the Company had no uncertain income tax positions that could have a significant effect on the condensed financial statements for the six months ended June 30, 2015 or 2014.
Recent accounting pronouncements	Recent accounting pronouncements: In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update 2014-09, “Revenue from Contracts with Customers,” which supersedes the revenue recognition requirements of Accounting Standards Codification (“ASC”) Topic 605, “Revenue Recognition” and most industry-specific guidance on revenue recognition throughout the ASC. The new standard is principles-based and provides a five step model to determine when and how revenue is recognized. The core principle of the new standard is that revenue should be recognized when a company transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The new standard also requires disclosure of qualitative and quantitative information surrounding the amount, nature, timing and uncertainty of revenues and cash flows arising from contracts with customers. The new standard, as updated in 2015, will be effective for the Company in the first quarter of the year ending December 31, 2018 and can be applied either retrospectively to all periods presented or as a cumulative-effect adjustment as of the date of adoption. Early adoption is not permitted. The Company will evaluate the impact of adoption of this standard on its financial statements upon commencement of revenue generating activities.

Corporate Overview - Additional

Corporate Overview - Additional Information (Detail) - USD ($)	May. 15, 2015	Jun. 30, 2015	Dec. 31, 2014
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Common stock, par value		$ 0.0001	$ 0.0001
Sale of common stock and common stock warrants to related party		$ 2,500,000
Mayne Pharma [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Sale of common stock and common stock warrants to related party	$ 2,500,000

Liquidity and Management's Pl16

Liquidity and Management's Plans - Additional Information (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Reorganizations [Abstract]
Cash and cash equivalents	$ 1,893,572	$ 365,161	$ 271,226	$ 217

Summary of Significant Accoun17

Summary of Significant Accounting Policies - Additional Information (Detail)	Jun. 30, 2015USD ($)
Accounting Policies [Line Items]
Cash balance in excess of amount covered by Federal Deposit Insurance Corporation	$ 1,400,000
Maximum [Member]
Accounting Policies [Line Items]
Cash, FDIC insured amount	$ 250,000

Other Long-term Assets - Additi

Other Long-term Assets - Additional Information (Detail)	Jun. 30, 2015USD ($)
Other Assets, Noncurrent [Abstract]
Other long-term assets	$ 250,000

Other Liabilities - Additional

Other Liabilities - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Other Liabilities [Line Items]
Maximum number of days after determination of valuation within which the securities should be offered	5 days
Accrued legal, research and development expenses	$ 103,000	$ 23,000
Commonwealth Biotechnology, Inc. [Member]
Other Liabilities [Line Items]
Payment of claim against CBI's amended plan	$ 52,500	$ 52,500

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	May. 15, 2015	Jun. 30, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sale of common stock and common stock warrants to related party		$ 2,500,000
Common stock, par value		$ 0.0001	$ 0.0001
Warrant expiry date		May 15, 2020
Warrant exercise price	$ 0.075
Total stock based compensation expense		$ 839,406
Unamortized stock-based compensation cost related to RSU recognition period		27 months
Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sale of common stock and common stock warrants to related party		$ 3,333
Sale of common stock and common stock warrants to related party, shares		33,333,333
Mayne Pharma [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sale of common stock and common stock warrants to related party	$ 2,500,000
Mayne Pharma [Member] | Securities Purchase Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share purchase agreement date		May 18, 2015
Mayne Pharma [Member] | Securities Purchase Agreement [Member] | Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sale of common stock and common stock warrants to related party	$ 2,500,000
Sale of common stock and common stock warrants to related party, shares	33,333,333
Mayne Pharma [Member] | Securities Purchase Agreement [Member] | Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sale of common stock and common stock warrants to related party	$ 2,500,000
Sale of common stock and common stock warrants to related party, shares	33,333,333
Common stock, par value	$ 0.075
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock based compensation expense		$ 839,406
Unamortized stock-based compensation cost related to RSU		$ 2,200,000