Argos Therapeutics (ARGS) 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. 07, 2015
Entity Registrant Name	ARGOS THERAPEUTICS INC
Entity Central Index Key	1,105,533
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		20,689,373
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - Scenario, Unspecified [Domain] - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Current assets
Cash and cash equivalents	$ 22,991,967	$ 37,223,590
Short-term investments	7,564,886	$ 19,016,347
Restricted cash	1,325,000
Prepaid expenses	841,801	$ 838,420
Deferred financing costs	171,312	309,927
Other receivables	57,029	129,019
Total current assets	32,951,995	57,517,303
Property and equipment, net	$ 15,549,242	5,513,555
Restricted cash		1,325,000
Other assets	$ 452,590	11,020
Total assets	48,953,827	64,366,878
Current liabilities
Accounts payable	4,674,131	1,860,491
Accrued expenses	2,785,276	1,405,378
Current portion of notes payable	15,345	30,885
Total current liabilities	7,474,752	3,296,754
Long-term portion of notes payable	20,294,069	19,796,545
Long-term portion of manufacturing research and development obligation	4,256,902	3,475,552
Long-term portion of facility lease obligation	7,620,660	3,380,223
Deferred Credits and Other Liabilities, Noncurrent	$ 4,578,500	$ 3,066,000
Commitments
Stockholders’ equity
Preferred stock $0.001 par value; 5,000,000 shares authorized as of December 31, 2014 and June 30, 2015; 0 shares issued and outstanding as of December 31, 2014 and June 30, 2015
Common stock $0.001 par value; 200,000,000 shares authorized as of December 31, 2014 and June 30, 2015; 19,657,412 and 20,689,373 shares issued and outstanding as of December 31, 2014 and June 30, 2015, respectively	$ 20,689	$ 19,657
Accumulated other comprehensive loss	(126,971)	(124,841)
Additional paid-in capital	246,156,445	235,627,174
Accumulated deficit	(241,321,219)	(204,170,186)
Total stockholders’ equity	4,728,944	31,351,804
Total liabilities and stockholders’ equity	$ 48,953,827	$ 64,366,878

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	20,689,373	19,657,412
Common stock, shares outstanding (in shares)	20,689,373	19,657,412

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenue	$ 107,391	$ 473,163	$ 286,162	$ 1,271,951
Operating expenses
Research and development	16,084,834	10,569,134	30,851,816	19,041,329
General and administrative	2,909,358	1,865,822	5,280,559	3,799,298
Total operating expenses	18,994,192	12,434,956	36,132,375	22,840,627
Operating loss	(18,886,801)	(11,961,793)	(35,846,213)	(21,568,676)
Other income (expense)
Interest income	8,327	21,260	18,415	37,670
Interest expense	$ (725,522)	(171,604)	$ (1,320,437)	(346,436)
Investment tax credits		140,556		140,556
Other expense	$ (822)	(11,950)	$ (2,798)	(247,625)
Other income (expense), net	(718,017)	(21,738)	(1,304,820)	(415,835)
Net loss	$ (19,604,818)	$ (11,983,531)	$ (37,151,033)	(21,984,511)
Accretion of redeemable convertible preferred stock				(863,226)
Net loss attributable to common stockholders	$ (19,604,818)	$ (11,983,531)	$ (37,151,033)	$ (22,847,737)
Net loss attributable to common stockholders per share, basic and diluted (in dollars per share)	$ (0.95)	$ (0.61)	$ (1.84)	$ (1.52)
Weighted average shares outstanding, basic and diluted (in shares)	20,622,326	19,655,187	20,145,747	15,041,501

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net loss	$ (19,604,818)	$ (11,983,531)	$ (37,151,033)	$ (21,984,511)
Other comprehensive gain (loss)
Foreign currency translation gain (loss)	3,368	6,014	(9,493)	4,511
Unrealized gain (loss) on short-term investments	2,368	250	7,363	(4,300)
Total comprehensive loss	$ (19,599,082)	$ (11,977,267)	$ (37,153,163)	$ (21,984,300)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities
Net loss	$ (37,151,033)	$ (21,984,511)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	347,962	266,149
Share-based compensation expense	1,766,853	1,211,509
Interest accrued on long-term debt	457,891	$ 345,707
Amortization of debt issuance costs	138,615
Amortization of debt discount	49,834
(Gain) loss on disposal of equipment	2,799	$ (710)
Changes in operating assets and liabilities:
Prepaid expenses and other receivables	$ 68,609	(29,625)
Deferred financing costs		(87,550)
Other assets	$ (441,570)	(10,471)
Accounts payable	2,058,051	925,986
Accrued expenses	1,000,050	$ (329,667)
Long-term deferred liabilities	1,512,500
Long-term portion of manufacturing research and development obligation	781,350
Net cash used in operating activities	(29,408,089)	$ (19,693,183)
Cash flows from investing activities
Purchase of property and equipment	$ (5,010,684)	(486,372)
Proceeds from sale of fixed assets		1,000
Purchases of short-term investments	$ (2,743,176)	(17,955,747)
Proceeds from maturity of short-term investments	14,202,000	4,117,905
Net cash (used in) provided by investing activities	6,448,140	(14,323,214)
Cash flows from financing activities
Proceeds from sale of common stock	$ 8,570,000	49,829,800
Stock issuance costs		(4,787,854)
Payments on notes payable	$ (25,740)	(25,740)
Proceeds from exercise of common stock options	93,396	$ 5,111
Proceeds from exercise of employee stock purchase plan	100,082
Net cash provided by financing activities	8,737,738	$ 45,021,317
Effect of exchange rates changes on cash	(9,412)	4,504
Net increase (decrease) in cash and cash equivalents	(14,231,623)	11,009,424
Cash and cash equivalents
Beginning of period	37,223,590	33,297,970
End of period	22,991,967	44,307,394
Supplemental disclosure of cash flow information
Cash paid for interest	$ 583,808	3,195
Supplemental disclosure of noncash investing and financing activities
Conversion of preferred stock into common stock		114,527,695
Preferred stock accretion		863,226
Debt Instrument, Increase, Accrued Interest	$ 457,891	$ 345,707
Purchases of property and equipment included in accounts payable and accrued expenses	1,135,437
Recognition of asset and facility lease obligation related to construction of facility	$ 4,240,437

Note 1 - Organization and Basis

Note 1 - Organization and Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	1. Organization and Basis of Presentation Argos Therapeutics, Inc. (the “Company”), was incorporated in the State of Delaware on May 8, 1997. The Company is an immuno-oncology company focused on the development and commercialization of fully individualized immunotherapies for the treatment of cancer using its Arcelis technology platform. The Company’s most advanced product candidate, AGS-003, is being evaluated in the pivotal ADAPT phase 3 clinical trial for the treatment of metastatic renal cell carcinoma (“mRCC”). The Company is also developing a separate Arcelis-based product candidate, AGS-004, for the treatment of HIV, which is currently being evaluated in a phase 2 clinical trial aimed at HIV eradication in adult patients. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared by the Company in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and with the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information. The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. Accordingly, the statements do not include all information and footnotes required by U.S. GAAP for annual consolidated financial statements. In the opinion of management, such interim financial statements reflect all adjustments (consisting of normal recurring adjustments) considered necessary for a fair statement of financial position, results of operations and cash flows for such periods. The results for the three and six months ended June 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 or future operating periods. The information included in these interim financial statements should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this Quarterly Report on Form 10-Q and the consolidated financial statements and footnotes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2014. There can be no assurance that the Company will be able to obtain additional debt or equity financing or generate revenues from collaborative partners on terms acceptable to the Company, on a timely basis or at all. The failure of the Company to obtain sufficient funds on acceptable terms when needed could have a material adverse effect on the Company’s business, results of operations and financial condition. The Company expects to continue to incur losses and require additional financial resources to advance its products to either commercial stage or liquidity events. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. Significant intercompany transactions and accounts have been eliminated. Capitalization In connection with the Company’s initial public offering in February 2014, the Company effected a one-for-six reverse split of its common stock. All references to shares of common stock outstanding, average number of shares outstanding and per share amounts in these consolidated financial statements and notes to consolidated financial statements have been restated to reflect the reverse split on a retroactive basis. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant Accounting Policies There have been no material changes in our significant accounting policies as of and for the three and six months ended June 30, 2015, as compared with the significant accounting policies described in our Annual Report on Form 10-K for the year ended December 31, 2014. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less as of the date of purchase to be cash equivalents. Cash deposits are all in financial institutions in the United States of America or Canada. The Company maintains cash in accounts which are in excess of federally insured limits. As of December 31, 2014 and June 30, 2015, $36,973,590 and $22,741,967, respectively, in cash and cash equivalents was uninsured. Restricted Cash The Company included in noncurrent assets restricted cash of $1,325,000 as of December 31, 2014, which cash consisted of funds maintained in a separate deposit account to secure a letter of credit issued by a bank to the landlord under a lease agreement for construction of the Company’s new corporate headquarters and primary manufacturing facility. As of June 30, 2015, this restricted cash was reclassified to current assets due to the Company’s intention to acquire the facility in the second half of 2015 under a purchase and sale agreement with the landlord. Upon closing of the purchase and sale by the Company of the facility, the lease agreement will terminate and the restricted cash will be released (see Note 7). Investment Tax Credits Other income of $140,556 was recognized during the three and six months ended June 30, 2014 for scientific research and experimental development (“SR&ED”) investment tax credits in Canada. Under Canadian and Ontario law, the Company’s Canadian subsidiary is entitled to SR&ED. Because these credits are subject to a claims review, the Company recognizes such credits when received. Recently Issued Accounting Pronouncements In May 2015, the Financial Accounting Standards Board (“FASB”) issued a new standard which removes the requirement to categorize the investments for which fair value is measured using net asset value per share as a practical expedient for fair value within the fair value hierarchy. This standard is effective for the Company for reporting periods beginning after December 15, 2015 and is to be applied retrospectively; early adoption is permitted. The Company is currently evaluating the effect that this new standard will have on the consolidated financial statements. In April 2015, the FASB issued a new standard update which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the associated debt liability. This standard is effective for the Company beginning January 1, 2016. The new guidance will be applied on a retrospective basis. The adoption of this standard is not expected to have a material impact on the consolidated financial statements. In August 2014, the FASB issued a new standard update that specifies the responsibility that an entity’s management has to evaluate whether there is substantial doubt about the entity’s ability to continue as a going concern. The standard is effective for interim and annual periods beginning after December 15, 2016, and is not expected to have an effect on the Company’s consolidated financial statements. In May 2014, the FASB issued a new accounting standard update pertaining to accounting for revenue from contracts with customers. The new guidance clarifies the principles for recognizing revenue and develops a common revenue standard for U.S. GAAP. The standard outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes the most current revenue recognition guidance. In July 2015, the FASB finalized a one year delay in the effective date of this standard, which will now be effective for the Company beginning January 1, 2018, however early adoption is permitted any time after the original effective date, which for the Company is January 1, 2017. The Company is currently evaluating the impact that the implementation of this standard will have on the Company’s consolidated financial statements.

Note 2 - Fair Value of Financia

Note 2 - Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Fair Value Disclosures [Text Block]	2. Fair Value of Financial Instruments The estimated fair values of all of the Company’s financial instruments, excluding long-term debt, approximate their carrying amounts in the consolidated balance sheets as of December 31, 2014 and June 30, 2015. As of December 31, 2014 and June 30, 2015, the Company held certain assets that are required to be measured at fair value on a recurring basis. These assets include money market funds included in cash equivalents and short-term investments in corporate debt securities. The Company’s short-term investments are classified as available-for sale investments. As of June 30, 2015, the Company’s short-term investments in corporate debt securities have contractual maturities with dates ranging from July 15, 2015 through January 25, 2016. The valuation of these financial instruments uses a three tiered approach, which requires that fair value measurements be classified and disclosed in one of three tiers. These tiers are: Level 1, defined as quoted prices in active markets for identical assets or liabilities; Level 2, defined as valuations based on observable inputs other than those included in Level 1, such as quoted prices for similar assets and liabilities in active markets, or other inputs that are observable or can be corroborated by observable input data; and Level 3, defined as valuations based on unobservable inputs reflecting the Company’s own assumptions, consistent with reasonably available assumptions made by other market participants. The Company’s Level 1 assets consist of money-market funds and the method used to estimate the fair value of the Level 1 assets is based on observable market data as these money-market funds are publicly-traded. The Company’s Level 2 assets consist of short-term debt instruments in corporate debt securities valued using independent pricing services which normally derive security prices from recently reported trades for identical or similar securities, making adjustments based on significant observable transactions. As of each balance sheet date, observable market inputs may include trade information, broker or dealer quotes, bids, offers or a combination of these data sources. As of December 31, 2014 and June 30, 2015, these financial instruments and respective fair values have been classified as follows: Quoted Prices Significant Significant Balance as of Assets Money-market funds $ 35,541,595 $ - $ - $ 35,541,595 Corporate debt securities – short term - 20,266,243 - 20,266,243 Restricted cash – long-term 1,325,000 - - 1,325,000 Total assets at fair value $ 36,866,595 $ 20,266,243 $ - $ 57,132,838 Quoted Prices Significant Significant Balance as of Assets Money-market funds $ 21,667,494 $ - $ - $ 21,667,494 Corporate debt securities – short term - 7,564,886 - 7,564,886 Restricted cash – current 1,325,000 - - 1,325,000 Total assets at fair value $ 22,992,494 $ 7,564,886 $ - $ 30,557,380 During the three and six months ended June 30, 2015, there were no transfers between Levels 1 and 2 assets. The amortized cost, gross unrealized holding gains, gross unrealized holding losses, and estimated fair value of money-market funds included in cash and cash and equivalents, available-for-sale corporate debt securities included in short-term investments and cash and cash equivalents, and restricted cash as of December 31, 2014 and June 30, 2015 were as follows: As of December 31, 2014 Amortized Cost Gross Unrealized Holding Gains Gross Aggregate Money-market funds $ 35,541,595 $ - $ - $ 35,541,595 Corporate debt securities – short term 20,278,171 67 (11,995 ) 20,266,243 Restricted cash – long-term 1,325,000 - - 1,325,000 $ 57,144,766 $ 67 $ (11,995 ) $ 57,132,838 As of June 30, 2015 Amortized Cost Gross Unrealized Holding Gains Gross Aggregate Money-market funds $ 21,667,494 $ - $ - $ 21,667,494 Corporate debt securities – short term 7,569,451 - (4,565 ) 7,564,886 Restricted cash – short-term 1,325,000 - - 1,325,000 $ 30,561,945 $ - $ (4,565 ) $ 30,557,380 The fair value of the Company’s long-term debt was derived by evaluating the nature and terms of each note, considering the prevailing economic and market conditions as of each balance sheet date and based on the Level 2 valuation hierarchy of the fair value measurements standard using a present value methodology. The fair value of the Company’s long-term debt as of December 31, 2014 was approximately $19.4 million compared with its carrying value of $19.8 million. The fair value of the Company’s long-term debt as of June 30, 2015 was approximately $19.9 million compared with its carrying value of $20.3 million.

Note 3 - Property and Equipment

Note 3 - Property and Equipment	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	3. Property and Equipment Property and equipment consist of the following: December 31, 2014 June 30, 2015 Office furniture and equipment $ 458,380 $ 663,683 Computer equipment 788,563 870,835 Computer software 629,948 629,948 Laboratory equipment 5,345,786 5,790,645 Leasehold improvements 2,646,891 2,664,669 Asset related to facility lease obligation 3,380,223 7,620,660 Construction-in progress 500,093 5,877,463 13,749,884 24,117,903 Less: Accumulated depreciation and amortization (8,236,329 ) (8,568,661 ) Property and equipment, net $ 5,513,555 $ 15,549,242 Assets related to the Company’s facility lease obligation and construction-in-progress were primarily recognized due to the Company being deemed to be the accounting owner of the facility during its construction period under build-to-suite lease accounting (see Note 7). Depreciation and amortization expense was as follows: Three months ended June 30, 2014 $ 135,997 Three months ended June 30, 2015 $ 181,530 Six months ended June 30, 2014 $ 266,149 Six months ended June 30, 2015 $ 347,962

Note 4 - Income Taxes

Note 4 - Income Taxes	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Income Tax Disclosure [Text Block]	4. Income Taxes The Company has incurred net operating losses since inception and is forecasting additional losses through December 31, 2015. Therefore, no U.S. Federal, state or foreign income taxes are expected for 2015 and none have been recorded as of June 30, 2015. Due to the Company’s history of losses since inception, there is not enough evidence at this time to support the conclusion that the Company will generate future income of a sufficient amount and nature to utilize the benefits of the Company’s net deferred tax assets. Accordingly, the Company fully reduced its net deferred tax assets by a valuation allowance, since it has been determined that it is more likely than not that all of the deferred tax assets will not be realized.

Note 5 - Notes Payable

Note 5 - Notes Payable	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Debt Disclosure [Text Block]	5. Notes Payable Notes payable consist of the following: December 31, 2014 June 30, 2015 Notes payable under the venture loan and security agreement, including accrued interest $ 12,500,000 $ 12,617,187 Less related debt discount (373,756 ) (323,922 ) Notes payable under the venture loan and security agreement, net of debt discount 12,126,244 12,293,265 Promissory note payable to Medinet, including accrued interest 7,623,546 7,961,778 Other notes payable 77,640 54,371 Total notes payable 19,827,430 20,309,414 Less current portion (30,885 ) (15,345 ) Long-term portion of notes payable $ 19,796,545 $ 20,294,069 On September 29, 2014, the Company entered into a venture loan and security agreement (the “Loan Agreement”) with Horizon Technology Finance Corporation and Fortress Credit Co LLC (together, the “Lenders”) under which the Company may borrow up to $25.0 million in two tranches of $12.5 million each (the “Loan Facility”). The Company borrowed the first tranche of $12.5 million upon the closing of the transaction on September 29, 2014 and borrowed the second tranche of $12.5 million on August 7, 2015 (see Note 13). The per annum interest rate for each tranche is a floating rate equal to 9.25% plus the amount by which the one-month London Interbank Offered Rate (“LIBOR”) exceeds 0.50% (effectively a floating rate equal to 8.75% plus the one-month LIBOR Rate). The total per annum interest rate shall not exceed 10.75%. The Company incurred $449,796 for costs in connection with the closing of the Loan Agreement. These costs were capitalized as deferred financing costs and amortized to interest expense over the terms of the related debt. The Company has agreed to repay the first tranche of $12.5 million on an interest only basis monthly until September 30, 2016, followed by monthly payments of principal and accrued interest through the scheduled maturity date for the first tranche loan on September 30, 2018. In addition, a final payment for the first tranche loan equal to $625,000 will be due on September 30, 2018, or such earlier date specified in the Loan Agreement. The Company is recognizing the final payment of $625,000 as accrued interest over the expected life of the first tranche loan and a total of $117,187 has been recognized as of June 30, 2015. The Company has agreed to repay the second tranche loan of $12.5 million in 18 monthly payments of interest only followed by 24 monthly payments of principal and accrued interest through the scheduled maturity date for the second tranche loan on February 7, 2019. In addition, a final payment of $625,000 will be due on February 7, 2019, or such earlier date specified in the Loan Agreement. In addition, if the Company repays all or a portion of the loan prior to the applicable maturity date, it will pay the Lenders a prepayment penalty fee, based on a percentage of the then outstanding principal balance, equal to 3% if the prepayment occurs on or before 24 months after the funding date, 2% if the prepayment occurs more than 24 months after, but on or before 36 months after, the funding date thereof, or 1% if the prepayment occurs more than 36 months after the funding date thereof. The Company’s obligations under the Loan Agreement are secured by a first priority security interest in substantially all of its assets other than its intellectual property. The Company also has agreed not to pledge or otherwise encumber its intellectual property assets, subject to certain exceptions. The Loan Agreement includes customary affirmative and restrictive covenants, but does not include any covenants to attain or maintain certain financial metrics, and also includes customary events of default, including payment defaults, breaches of covenants, change of control and a material adverse change default. Upon the occurrence of an event of default and following any applicable cure periods, a default interest rate of an additional 5% may be applied to the outstanding loan balances, and the Lenders may declare all outstanding obligations immediately due and payable and take such other actions as set forth in the Loan Agreement. In connection with the Loan Agreement, the Company issued to the Lenders and their affiliates warrants to purchase a total of 82,780 shares of Common Stock at a per share exercise price of $9.06 (the “Warrants”). Upon the Company’s satisfaction of the conditions precedent to the making of the second tranche loan, the Warrants became exercisable in full. The Warrants will terminate on September 29, 2021 or such earlier date as specified in the Warrants. The Company recorded a debt discount of $338,673 equal to the value of these Warrants. This debt discount is offset against the note payable balance and included in additional paid-in capital on the Company's balance sheet. In December 2013, in connection with the license agreement with Medinet Co. Ltd ("Medinet"), as described in Note 11, the Company borrowed $9.0 million pursuant to an unsecured promissory note that bears interest at a rate of 3.0% per annum. The principal and interest under the note are due and payable on December 31, 2018. Under the terms of the note and the license agreement, any milestone payments related to the developmental and regulatory milestones that become due will be applied first to the repayment of the loan. The Company has the right to prepay the loan at any time. If the Company has not repaid the loan by December 31, 2018, then the Company has agreed to grant to Medinet a non-exclusive, royalty-bearing license to make and sell Arcelis products in Japan for the treatment of cancer. In such event, the amounts owing under the loan as of December 18, 2018 may constitute pre-paid royalties under the license or would be due and payable. Royalties under this license would be paid until the expiration of the licensed patent rights in Japan at a rate to be negotiated. If the Company and Medinet cannot agree on the royalty rate, they have agreed to submit the matter to arbitration. Because the $9.0 million promissory note was issued at a below market interest rate, the Company allocated the proceeds of the loan between the license agreement and the debt at the time of issuance. Accordingly, as of the borrowing date, December 31, 2013, the Company recorded $6.9 million to notes payable, based upon an effective interest rate of 8.0%, and $2.1 million as a deferred liability. As of June 30, 2015, the Company recorded $8.0 million to notes payable, including $1.1 million accrued interest. The total deferred liability was $3.1 million as of June 30, 2015 including the $1.0 million received by the Company for a manufacturing license (see Note 11). The Company entered into a Master Lease Agreement in July 2012 with a lending institution, which provides for the Company to borrow funds up to $100,000 to finance computer equipment. Through June 30, 2015, the Company has borrowed $95,756 under this agreement, of which $16,356 and $201 was outstanding as of December 31, 2014 and June 30, 2015, respectively. Borrowings are collateralized by substantially all of the computer equipment financed under the agreement, bear interest at a rate of 0.98% per annum and are to be repaid in 36 equal monthly installments commencing on the date of borrowing. During November 2013, the Company borrowed $77,832 from a lending institution to finance the purchase of additional computer equipment, of which $61,284 and $54,170 in principal was outstanding as of December 31, 2014 and June 30, 2015, respectively. Borrowings are collateralized by substantially all of the computer equipment financed under the agreement, bear interest at a rate of 8.31% per annum and are to be repaid in 60 equal monthly installments commencing on the date of borrowing.

Note 6 - Manufacturing Research

Note 6 - Manufacturing Research and Development Obligation	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Research, Development, and Computer Software Disclosure [Text Block]	6. Manufacturing Research and Development Obligation On October 29, 2014, the Company entered into a development agreement (the “Invetech Development Agreement”) with Invetech Pty Ltd (“Invetech”). The Invetech Development Agreement supersedes and replaces the development agreement entered into by the parties as of July 20, 2005. Under the Invetech Development Agreement, Invetech will continue to develop and provide prototypes of the automated production system to be used for the manufacture of the Company’s Arcelis-based products, or the Production Systems. Development services will be performed on a proposal by proposal basis. Invetech has agreed to defer 30% of its fees, but such deferral will not exceed $5,000,000. Deferred fees (plus interest of 7% per annum) would become payable either, at the Company’s option, in lump sum within 90 days of the “Sunset Date Trigger Event” or pursuant to an installment plan (either in four installments payable within the first year or eight installments payable within the first two years after the “Sunset Date Trigger Event”). The “Sunset Date Trigger Event” is June 30, 2016 if our current phase 3 ADAPT clinical trial (the “Trial”) is closed early indicating positive efficacy; otherwise, December 31, 2016. Invetech is entitled to a 10% bonus payment if the Trial is closed early indicating positive efficacy and Invetech has timely completed all activities up to the time of such early closure. As of June 30, 2015, the Company has recorded the long-term portion of this manufacturing research and development obligation on its consolidated balance sheet totaling $4.3 million representing $2.5 million in deferred fees, $1.6 million in estimated bonus payments and $120,124 in accrued interest. The Invetech Development Agreement requires the parties to discuss in good faith Invetech’s supply of Production Systems for use in manufacturing commercial product. The Company has an obligation to purchase $25.0 million worth of Production Systems, components, subsystems and spare parts for commercial use. Once that obligation has been satisfied, the Company has the right to have a third party supply Production Systems for use in manufacturing commercial product provided that Invetech has a right of first refusal with respect to any offer by a third party and the Company may not accept an offer from a third party unless that offer is at a price that is less than that offered by Invetech and otherwise under substantially the same or better terms. The Company will own all intellectual property arising from the development services (with the exception of existing Invetech intellectual property incorporated therein-under which the Company will have a license). The Invetech Development Agreement will continue until the completion of the development of the Production Systems. The Invetech Development Agreement can be terminated early by either party because of a technical failure or by the Company without cause.

Note 7 - Facility Lease Obligat

Note 7 - Facility Lease Obligation	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Leases of Lessee Disclosure [Text Block]	7. Facility Lease Obligation In August 2014, the Company entered into a Lease Agreement (the “Lease Agreement”) with TKC LXXII, LLC, a North Carolina limited liability company (“TKC”). Under the Lease Agreement, the Company agreed to lease certain land and an approximately 120,000 square-foot building to be constructed on approximately 11 acres in Durham County, North Carolina. This facility is being built to house the Company’s corporate headquarters and primary manufacturing facility. This facility is intended to replace the Company’s existing facility in Durham North Carolina. The lease for the current facility expires in November 2016. The shell of the new facility was constructed on a build-to-suit basis by TKC in accordance with agreed upon specifications and plans as set forth in the Lease Agreement at the expense of TKC, other than those costs resulting from changes requested by the Company for which the Company has paid $1.7 million as of June 30, 2015. The term of the Lease Agreement is 10 years from July 1, 2015, the commencement date for the initial term, with the Company having the option to extend the Lease Agreement by six five-year renewal terms. Initial rent will be approximately $46,917 per month, subject to certain fixed increases over the course of the term as set forth in the Lease Agreement and to adjustment based on the Company’s use of certain amounts allocated for upfitting the interior of the facility. The Lease Agreement required the Company to provide the landlord with a letter of credit. The Company provided the bank that issued the letter of credit on our behalf a security deposit of $1.325 million to guarantee the letter of credit. The deposit is recorded as restricted cash as of December 31, 2014 and June 30, 2015 on the Company’s consolidated balance sheets. Under the Lease Agreement, the Company is involved in the construction of the building. To the extent the Company is involved with the structural improvements of the construction project or takes construction risk prior to the commencement of a lease, ASC 840-40-05-5 requires for accounting purposes that the Company to be considered the owner of this project during the construction period. Therefore, the Company recorded an asset in property and equipment, net on the consolidated balance sheets, for the cost of the Company’s portion of the building plus the amount of estimated structural construction costs incurred by the landlord and the Company as of the balance sheet date. The Company recorded a corresponding facility lease obligation on its consolidated balance sheets representing the amounts paid by TKC, the lessor. The initial recording of these assets and liabilities is classified as non-cash investing and financing items, respectively, for purposes of the consolidated statements of cash flows. Under the Lease Agreement, the Company had an option to purchase the property for an amount estimated at $7.6 million. On February 16, 2015, the Company entered into a Purchase and Sale Agreement (the “Purchase Agreement”) with TKC which represented the Company’s exercise of its purchase option under the Lease Agreement. The purchase price to be paid by the Company is $7.6 million plus the amount of any additional costs incurred by TKC as a result of changes requested by the Company, for which the Company has paid $1.7 million as of June 30, 2015, and the amount of any improvement allowances advanced to the Company by TKC prior to the closing. The purchase of the property is expected to close in the second half of 2015. Upon the closing, the Lease Agreement will terminate.

Note 8 - Stockholders' Equity a

Note 8 - Stockholders' Equity and Redeemable Convertible Preferred Stock	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	8. Stockholders’ Equity and Redeemable Convertible Preferred Stock Issuance of Common Stock In connection with the Company’s entry into the Lummy License Agreement (see Note 11), on April 7, 2015, the Company entered into stock purchase agreements with Tianyi Lummy International Holdings Group, Ltd. and China BioPharma Capital I, L.P. (the “Purchasers”), of which Lummy (Hong Kong) Co. Ltd.’s parent company is an affiliate and limited partner, respectively. Pursuant to the purchase agreements, the Purchasers purchased an aggregate of 1,000,000 shares of the Company’s common stock at a per share price of $10.11. The closing price of the Company’s common stock on April 7, 2015 was $8.57 per share, or approximately 18% lower than the $10.11 purchase price per share. The cash proceeds received of $10,110,000 from the issuance of the Company’s common stock were allocated $8,570,000 to common stock and additional paid-in capital and $1,540,000 to deferred revenue attributable to the Lummy License Agreement. The Purchasers have also agreed to purchase approximately $10.0 million in additional shares of the Company’s common stock, for a total aggregate investment of approximately $20 million, within 31 days of and subject to reaching full enrollment of the Company’s phase 3 ADAPT clinical trial of AGS-003 for mRCC, receiving a recommendation of the review board for the continuation of the Company’s phase 3 ADAPT clinical trial following 50% of events and receiving positive feedback from the FDA on a qualified protocol to demonstrate comparability of the Company’s automated manufacturing process for AGS-003 to the manufacturing process used by Company in its phase 3 ADAPT clinical trial. In connection with the investment, the Purchasers have agreed to a lock-up of the shares purchased for a period of 180 days. On May 8, 2015, the Company filed a shelf registration statement on Form S-3 with the SEC, which covers the offering, issuance and sale by the Company of up to $125,000,000 of its common stock, preferred stock, debt securities, depositary shares, purchase contracts, purchase units and warrants (the “2015 Shelf”). The Company simultaneously entered into a Sales Agreement with Cowen and Company LLC (the “Sales Agreement”) to provide for the offering, issuance and sale by the Company of up to $30,000,000 of its common stock from time to time in “at-the-market” offerings under the 2015 Shelf. The 2015 Shelf was declared effective by the SEC on May 14, 2015. The Company has not sold any shares under the Sales Agreement. Initial Public Offering and Conversion of Redeemable Convertible Preferred Stock into Common Stock In February 2014, the Company issued and sold 6,228,725 shares of its common stock, including 603,725 shares of common stock sold pursuant to the underwriters’ exercise of their option to purchase additional shares, in the Company’s initial public offering, at a public offering price of $8.00 per share, for aggregate gross proceeds of $49.8 million. The net offering proceeds to the Company, after deducting underwriting discounts and commissions of approximately $3.5 million and offering expenses of approximately $2.9 million, were approximately $43.4 million. Prior to the initial public offering, the Company had outstanding 1,040,216 shares designated as Series A redeemable convertible preferred stock, 9,803,688 shares designated as Series B redeemable convertible preferred stock, 28,716,679 shares designated as Series C redeemable convertible preferred stock, 21,040,817 shares designated as Series D redeemable convertible preferred stock and 56,011,258 shares designated as Series E redeemable convertible preferred stock. Upon the closing of the initial public offering on February 12, 2014, all of the outstanding shares of redeemable convertible preferred stock automatically converted into 13,188,251 shares of the Company’s common stock. The table below represents a rollforward of the preferred stock: Series A Preferred Series B Preferred Series C Preferred Series D Preferred Series E Preferred Total Preferred Stock Shares Amount Shares Amount Shares Amount Shares Amount Shares Amount Shares Amount Balance as of December 31, 2013 1,040,216 $ 332,869 9,803,688 $ 5,521,437 28,716,679 $ 2,655,884 21,040,817 $ 33,262,492 56,011,258 $ 71,891,787 116,612,658 $ 113,664,469 Accretion - - - - - - - 336,350 - 526,876 - 863,226 Shares converted to common stock (1,040,216 ) (332,869 ) (9,803,688 ) (5,521,437 ) (28,716,679 ) (2,655,884 ) (21,040,817 ) (33,598,842 ) (56,011,258 ) (72,418,423 ) (116,612,658 ) (114,527,455 ) Stock issuance costs - - - - - - - - - (240 ) - (240 ) Balance as of December 31, 2014 - $ - - $ - - $ - - $ - - $ - - $ -

Note 9 - Stock Options and Warr

Note 9 - Stock Options and Warrants	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	9. Stock Options and Warrants 2014 Stock Incentive Plan and 2014 Employee Stock Purchase Plan In January 2014, the Company’s board of directors and stockholders approved, effective upon the closing of the Company’s initial public offering, the 2014 Stock Incentive Plan (the “2014 Plan”). Under the 2014 Plan, the Company may grant incentive stock options, nonstatutory stock options, stock appreciation rights, restricted stock, restricted stock units and other stock-based awards for the purchase of that number of shares of Common Stock equal to the sum of 1,951,182 shares, plus such number of shares, up to 357,841 shares, as is equal to the sum of the number of shares reserved for issuance under the Company’s 2008 Stock Incentive Plan (the “2008 Plan”) that remained available for grant under the 2008 Plan immediately prior to the closing of the Company’s initial public offering on February 12, 2014 (381,250 shares) and the number of shares subject to outstanding awards under the 2008 Plan that expire, terminate or are otherwise surrendered, cancelled, forfeited or repurchased by the Company at their original issuance price pursuant to a contractual repurchase right, plus an annual increase, to be added on the first day of the 2015 fiscal year and each subsequent anniversary through January 1, 2024, equal to the lowest of 2,309,023 shares of Common Stock, 4% of the number of the Company’s outstanding shares on the first day of each such fiscal year and an amount determined by the Company’s board of directors. Also in January 2014, the Company’s board of directors and stockholders approved, effective upon the closing of the Company’s initial public offering, a 2014 Employee Stock Purchase Plan (the “2014 ESPP”). Under the 2014 ESPP, on the offering commencement date of each plan period (the “Purchase Plan Period”), the Company will grant to each eligible employee who is then a participant in the 2014 ESPP an option to purchase shares of Common Stock. The employee may authorize up to a maximum of 10% of his or her base pay to be deducted by the Company during the Purchase Plan Period. Each employee who continues to be a participant in the 2014 ESPP on the last business day of the Purchase Plan Period is deemed to have exercised the option, to the extent of accumulated payroll deductions within the 2014 ESPP ownership limits. Under the terms of the 2014 ESPP, the option exercise price shall be determined by the Company’s board of directors for each Purchase Plan Period and the option exercise price will be at least 85% of the applicable closing price of the Common Stock. The option exercise price will be 85% of the lower of the Company’s closing stock price on the first and last business day of each Purchase Plan Period. The Company’s first Purchase Plan Period commenced on September 2, 2014 and ended on February 27, 2015. Based upon 85% of the lower of the closing price at the beginning of the first Purchase Plan Period of $9.83 and the closing price on February 27, 2015 of $9.02, 13,054 shares were purchased with employee withholdings as of February 27, 2015 and stock-based compensation expense of $54,508 was recognized. The Company’s second Purchase Plan Period commenced on March 2, 2015 and will end on August 31, 2015. Based upon 85% of the lower of the closing price at the beginning of the second Purchase Plan Period of $9.02 and the closing price of $6.85 on June 30, 2015, stock-based compensation expense of $45,736 was recognized. Upon the exercise of stock options, vesting of other awards and purchase of shares through the 2014 ESPP or under the 2014 Plan, the Company issues new shares of common stock to the Company’s employees. All awards that are canceled prior to vesting or expire unexercised are returned to the approved pool of reserved shares under the 2014 Plan and made available for future grants. As of June 30, 2015, there were 4,179,401 shares of common stock remaining available for future issuance under the 2014 Plan and 333,299 shares of common stock under the 2014 ESPP. The Company recorded the following stock-based compensation expense: Three Months Ended Six Months Ended 2014 2015 2014 2015 Research and development $ 309,202 $ 401,826 $ 617,393 $ 808,017 General and administrative 319,271 496,249 594,116 1,004,573 Total stock-based compensation expense $ 628,473 $ 898,075 $ 1,211,509 $ 1,812,590 Allocations to research and development and general and administrative expense are based upon the department to which the associated employee reported. No related tax benefits of the stock-based compensation expense have been recognized. Stock-based payments issued to nonemployees are recorded at their fair values, and are periodically revalued as the equity instruments vest and are recognized as expense over the related service period. During the three months ended June 30, 2015, the Company granted options to employees to purchase a total of 510,650 shares of the Company’s common stock at exercise prices ranging from $7.05 to $8.46 per share which in each instance was the closing price of the Company’s common stock on the grant date. During the six months ended June 30, 2015, the Company granted options to employees and non-employee directors to purchase a total of 622,300 shares of the Company’s common stock at exercise prices ranging from $7.05 to $9.01 per share which in each instance was the closing price of the Company’s common stock on the grant date. The following table summarizes the Company’s stock option activity during the six months ended June 30, 2015: Number of Shares Weighted Average Exercise Price Weighted Average Contractual Term (in years) Outstanding as of December 31, 2014 2,847,097 $ 5.89 Granted 622,300 $ 7.91 Exercised (18,907 ) $ 4.94 Cancelled (19,284 ) $ 8.00 Outstanding as of June 30, 2015 3,431,206 $ 6.25 8.46 Exercisable as of June 30, 2015 1,225,005 $ 5.38 7.47 Vested and expected to vest as of June 30, 2015 3,261,329 $ 6.22 8.44 Valuation Assumptions for Stock Option Plans The employee stock-based compensation expense recognized was determined using the Black-Scholes option valuation model. Option valuation models require the input of subjective assumptions and these assumptions can vary over time. The weighted average assumptions used were as follows for the periods indicated: Stock Option Plans Employee Stock Purchase Plan Six Months Ended June 30 Six Months Ended June 30 2014 2015 2014 2015 Risk-free interest rate 2.29 % 2.07 % - % 0.07 % Dividend yield 0 % 0 % - % 0 % Expected option term (in years) 7 7 - 0.5 Volatility 96 % 86 % - % 45 % Warrants As discussed in Note 5 regarding the Company’s notes payable, in connection with the Company’s Loan Agreement executed in September 2014, the Company issued to the Lenders and their affiliates Warrants to purchase a total of 82,780 shares of Common Stock at a per share exercise price of $9.06. Upon the Company’s satisfaction of the conditions precedent to the making of the second tranche loan, the Warrants became exercisable in full. The Warrants will terminate on the earlier of September 29, 2021 or such earlier date as specified in the Warrants. During the six months ended June 30, 2014, warrants to purchase 9,598 shares of the Company’s common stock at $6.60 per share were settled in a cashless exercise for 1,679 shares of common stock in conjunction with the closing of the Company’s initial public offering in February 2014. Outstanding warrants to purchase the Company’s common stock as of June 30, 2015 were as follows: Type of Warrant Number of Exercise Price Expiration Common stock 1 $ 23,894.34 7 /13/16 Common stock 82,780 $ 9.06 9 /29/21

Note 10 - Revenue and Concentra

Note 10 - Revenue and Concentration of Credit Risk	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	10. Revenue and Concentration of Credit Risk In September 2006, the Company entered into a multi-year research contract with the National Institutes of Health (“NIH”) and the National Institute of Allergy and Infectious Diseases (“NIAID”) to design, develop and clinically test an autologous HIV immunotherapy capable of eliciting therapeutic immune responses. The Company is using funds from this contract to develop AGS-004. Under this contract, as amended, the NIH and NIAID have committed to fund up to a total of $39.8 million, including reimbursement of direct expenses and allocated overhead and general and administrative expenses of up to $38.4 million and payment of other specified amounts totaling up to $1.4 million upon the Company’s achievement of specified development milestones. Since September 2010, the Company has received reimbursement of its allocated overhead and general and administrative expenses at provisional indirect cost rates equal to negotiated provisional indirect cost rates agreed to with the NIH and NIAID in September 2010. These provisional indirect cost rates are subject to adjustment based on the Company’s actual costs pursuant to the agreement with the NIH and NIAID. This commitment originally extended until May 2013. The Company agreed to an additional modification of the Company’s contract with the NIH and the NIAID under which the NIH and the NIAID agreed to increase their funding commitment to the Company by an additional $5.4 million in connection with the extension of the contract from May 2013 to September 2015. Additionally, a contract modification for a $0.5 million increase was agreed to by the NIH on September 18, 2014 to cover a portion of the manufacturing costs of the planned phase 2 clinical trial of AGS-004 for long-term viral control in pediatric patients. The NIH’s commitment under the contract extends to July 2016. The Company has agreed to a statement of work under the contract, and is obligated to furnish all the services, qualified personnel, material, equipment, and facilities, not otherwise provided by the U.S. government, needed to perform the statement of work. For the three months ended June 30, 2014 and 2015, the Company recorded revenue under this agreement of $473,163 and $79,891, respectively. For the six months ended June 30, 2014 and 2015, the Company recorded revenue under this agreement of $1,271,951 and $243,606, respectively. The Company has recorded total revenue of $36.9 million through June 30, 2015 under the NIH and NIAID agreement. As of June 30, 2015, there was up to $2.9 million of potential revenue remaining to be earned under the agreement with the NIH and NIAID. As of December 31, 2014 and June 30, 2015, the Company recorded a receivable from the NIH and NIAID of $129,019 and $57,029, respectively, and a payable to subcontractors of $8,493 and $21,994, respectively. The Company’s grant revenue is earned under this contract with NIH and NIAID. The concentration of credit risk is equal to the outstanding accounts receivable and unbilled balances and such risk is subject to the credit worthiness of the NIH and NIAID. There have been no credit losses under this arrangement.

Note 11 - Collaboration Agreeme

Note 11 - Collaboration Agreements	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Long-term Contracts or Programs Disclosure [Text Block]	11. Collaboration Agreements Pharmstandard License Agreement In August 2013, Pharmstandard International S.A. ("Pharmstandard"), purchased shares of the Company’s series E preferred stock. Concurrently with such purchase, the Company entered into an exclusive royalty-bearing license agreement with Pharmstandard. Under this license agreement, the Company granted Pharmstandard and its affiliates a license, with the right to sublicense, to develop, manufacture and commercialize AGS-003 and other products for the treatment of human diseases, which are developed by Pharmstandard using the Company’s individualized immunotherapy platform, in the Russian Federation, Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan, Ukraine and Uzbekistan, which the Company refers to as the Pharmstandard Territory. The Company also provided Pharmstandard with a right of first negotiation for development and commercialization rights in the Pharmstandard Territory to specified additional products the Company may develop. Under the terms of the license agreement, Pharmstandard licensed the Company rights to clinical data generated by Pharmstandard under the agreement and granted the Company an option to obtain an exclusive license outside of the Pharmstandard Territory to develop and commercialize improvements to the Company’s Arcelis technology generated by Pharmstandard under the agreement, a non-exclusive worldwide royalty-free license to Pharmstandard improvements to manufacture products using the Company’s Arcelis technology and a license to specified follow-on licensed products generated by Pharmstandard outside of the Pharmstandard Territory, each on terms to be negotiated upon the Company’s request for a license. In addition, Pharmstandard agreed to pay the Company pass-through royalties on net sales of all licensed products in the low single digits until it has generated a specified amount of aggregate net sales. Once the net sales threshold is achieved, Pharmstandard will pay the Company royalties on net sales of specified licensed products, including AGS-003, in the low double digits below 20%. These royalty obligations last until the later of the expiration of specified licensed patent rights in a country or the twelfth anniversary of the first commercial sale in such country on a country by country basis and no further royalties on specified other licensed products. After the net sales threshold is achieved, Pharmstandard has the right to offset a portion of the royalties Pharmstandard pays to third parties for licenses to necessary third party intellectual property against the royalties that Pharmstandard pays to the Company. The agreement will terminate upon expiration of the royalty term, upon which all licenses will become fully paid-up perpetual exclusive licenses. Either party may terminate the agreement for the other party’s uncured material breach or if specified conditions occur relating to the other party’s insolvency or bankruptcy and the Company may terminate the agreement if Pharmstandard challenges or assists a third party in challenging specified patent rights of ours. If Pharmstandard terminates the agreement upon the Company’s material breach or bankruptcy, Pharmstandard is entitled to terminate the Company’s licenses to improvements generated by Pharmstandard, upon which the Company may come to rely for the development and commercialization of AGS-003 and other licensed products outside of the Pharmstandard Territory, and to retain its licenses from the Company and to pay the Company substantially reduced royalty payments following such termination. In November 2013, the Company entered into an agreement with Pharmstandard under which Pharmstandard purchased additional shares of the Company’s series E preferred stock. Under this agreement, the Company agreed to enter into a manufacturing rights agreement for the European market with Pharmstandard and that the manufacturing rights agreement would provide for the issuance of warrants to Pharmstandard to purchase 499,788 shares of the Company’s common stock at an exercise price of $5.82 per share. The Company has not entered into this manufacturing rights agreement or issued the warrants. All outstanding shares of our preferred stock converted into shares of our common stock upon the closing of our initial public offering in February 2014. Green Cross License Agreement In July 2013, the Company entered into an exclusive royalty-bearing license agreement with Green Cross Corp. ("Green Cross"). Under this agreement the Company granted Green Cross a license to develop, manufacture and commercialize AGS-003 for mRCC in South Korea. The Company also provided Green Cross with a right of first negotiation for development and commercialization rights in South Korea to specified additional products the Company may develop. Under the terms of the license, Green Cross has agreed to pay the Company $500,000 upon the initial submission of an application for regulatory approval of a licensed product in South Korea, $500,000 upon the initial regulatory approval of a licensed product in South Korea and royalties ranging from the mid-single digits to low double digits below 20% on net sales until the fifteenth anniversary of the first commercial sale in South Korea. In addition, Green Cross has granted the Company an exclusive royalty free license to develop and commercialize all Green Cross improvements to the Company’s licensed intellectual property in the rest of the world, excluding South Korea, except that, as to such improvements for which Green Cross makes a significant financial investment and that generate significant commercial benefit in the rest of the world, the Company is required to negotiate in good faith a reasonable royalty that the Company will be obligated to pay to Green Cross for such license. Under the terms of the agreement, the Company is required to continue to develop and to use commercially reasonable efforts to obtain regulatory approval for AGS-003 in the United States. The agreement will terminate upon expiration of the royalty term, which is 15 years from the first commercial sale, upon which all licenses will become fully paid up perpetual non-exclusive licenses. Either party may terminate the agreement for the other party’s uncured material breach or if specified conditions occur relating to the other party’s insolvency or bankruptcy and the Company may terminate the agreement if Green Cross challenges or assists a third party in challenging specified patent rights of ours. If Green Cross terminates the agreement upon the Company’s material breach or bankruptcy, Green Cross is entitled to terminate the Company’s licenses to improvements and retain its licenses from the Company and to pay the Company substantially reduced milestone and royalty payments following such termination. Medinet License Agreement In December 2013, we entered into a license agreement with Medinet Co., Ltd. which was novated, amended and restated between the Company, Medinet Co., Ltd. and MEDcell Co., Ltd. in October 2014. Pursuant to the novation, Medinet Co., Ltd. assigned and transferred all of its rights and obligations under the original license agreement to MEDcell Co., Ltd. without any substantive change in the underlying rights or obligations. References to Medinet in this Form 10-Q refer to Medinet Co., Ltd. prior to the novation and MEDcell Co., Ltd. from after the novation. Under this agreement, the Company granted Medinet an exclusive, royalty-free license to manufacture in Japan AGS-003 and other products using the Company’s Arcelis technology solely for the purpose of the development and commercialization of AGS-003 and these other products for the treatment of mRCC. The Company refers to this license as the manufacturing license. In addition, under this agreement, the Company granted Medinet an option to acquire a nonexclusive, royalty-bearing license under the Company’s Arcelis technology to sell in Japan AGS-003 and other products for the treatment of mRCC. The Company refers to the option as the sale option and the license as the sale license. Under the manufacturing license, if Medinet does not exercise the sale option, Medinet may only manufacture AGS-003 and these other products for the Company or its designee. If Medinet does not exercise the sale option, the Company and Medinet have agreed to negotiate in good faith a supply agreement under which Medinet would supply the Company or its designee with AGS-003 and these other products for development and sale for the treatment of mRCC in Japan. If Medinet exercises the sale option, it may only manufacture AGS-003 and these other products for itself, its related parties and its sublicensees. During the term of the manufacturing license, the Company may not manufacture AGS-003 or these other products for the Company or any designee for development or sale for the treatment of mRCC in Japan. Medinet may exercise the option at any time until the earlier of December 31, 2015 and the date 30 days after the Company has provided Medinet with an interim report on the Company’s phase 3 clinical trial of AGS-003 following such time as 50% of the required events in the trial have occurred. In consideration for the manufacturing license, Medinet paid the Company $1.0 million. Medinet also loaned the Company $9.0 million in connection with the Company entering into the agreement. The Company has agreed to use these funds in the development and manufacturing of AGS-003 and the other products. Medinet also agreed to pay the Company milestone payments of up to a total of $9.0 million upon the achievement of developmental and regulatory milestones and $5.0 million upon the achievement of a sales milestone related to AGS-003 and these products. If Medinet exercises the sale option, it will pay the Company $1.0 million, as well as royalties on net sales at a rate to be negotiated until the later of the expiration of the licensed patent rights in Japan and the twelfth anniversary of the first commercial sale in Japan. If the Company and Medinet cannot agree on the royalty rate, the Company and Medinet have agreed to submit the matter to arbitration. In December 2013, in connection with the manufacturing license agreement with Medinet, the Company borrowed the $9.0 million pursuant to an unsecured promissory note that bears interest at a rate of 3.0% per annum. The principal and interest under the note are due and payable on December 31, 2018. Under the terms of the note and the manufacturing license agreement, any milestone payments related to the developmental and regulatory milestones that become due will be applied first to the repayment of the loan. The Company has the right to prepay the loan at any time. If the Company has not repaid the loan by December 31, 2018, then the Company has agreed to grant to Medinet a non-exclusive, royalty-bearing license to make and sell Arcelis products in Japan for the treatment of cancer. In such event, the amounts owing under the loan as of December 18, 2018 may constitute pre-paid royalties under the license or would be due and payable. Royalties under this license would be paid until the expiration of the licensed patent rights in Japan at a rate to be negotiated. If the Company and Medinet cannot agree on the royalty rate, Company and Medinet have agreed to submit the matter to arbitration. The Company recorded the $1.0 million payment from Medinet as a deferred liability. In addition, because the $9.0 million promissory note was issued at a below market interest rate, the Company allocated the proceeds of the loan between the manufacturing license agreement and the debt at the time of issuance. Accordingly, as of December 31, 2013, the date of borrowing, the Company recorded $6.9 million to notes payable, based upon an effective interest rate of 8.0%, and $2.1 million as a deferred liability. As of June 30, 2015, the Company recorded $8.0 million to notes payable, including $1.1 million accrued interest. The total deferred liability was $3.1 million as of June 30, 2015 including the $1.0 million received by the Company for the manufacturing license. The agreement will terminate upon expiration of the royalty term, upon which all licenses will become fully paid up, perpetual non-exclusive licenses. Either party may terminate the agreement for the other party’s uncured material breach or if specified conditions occur relating to the other party’s insolvency or bankruptcy, and the Company may terminate the agreement if Medinet challenges or assists a third party in challenging specified patent rights of the Company. If Medinet terminates the agreement upon the Company’s material breach or bankruptcy, Medinet is entitled to terminate the Company’s licenses to improvements and retain its royalty-bearing licenses from the Company. Lummy License Agreement On April 7, 2015, the Company and Lummy (Hong Kong) Co. Ltd., a wholly owned subsidiary of Chongqing Lummy Pharmaceutical Co. Ltd. (“Lummy HK”), entered into a license agreement (the “License Agreement”) whereby the Company granted to Lummy HK an exclusive license under the Arcelis technology, including patents, know-how and improvements to manufacture, develop and commercialize products for the treatment of cancer (“Licensed Product”) in China, Hong Kong, Taiwan and Macau (the “Territory”). Lummy HK also has a right of first negotiation with respect to a license under the Arcelis technology for the treatment of infectious diseases in the Territory. Under the terms of the License Agreement, the parties will share relevant data, and the Company will have a right to reference Lummy HK data for purposes of its development programs under the Arcelis technology. In addition, Lummy HK has granted to the Company an exclusive, royalty-free license under and to any and all Lummy HK improvements to the Arcelis technology conceived or reduced to practice by Lummy HK (“Lummy HK Improvements”) and Lummy HK data to develop and/or commercialize products (“Arcelis-Based Products”) outside the Territory, an exclusive, royalty-free license under and to any and all investigational new drug applications ("INDs") and other regulatory approvals and Lummy HK trademarks used for an Arcelis-Based Product to develop and/or commercialize an Arcelis-Based Product outside the Territory and a non-exclusive, worldwide, royalty-free license under any Lummy HK Improvements and Lummy HK data to manufacture Arcelis-Based Products anywhere in the world. Lummy HK has the right to reference Company’s data, INDs and other regulatory filings and submissions for the purpose of developing and obtaining regulatory approval of Licensed Products in the Territory. Pursuant to the License Agreement, Lummy HK will pay the Company royalties on net sales and up to an aggregate of $20.0 million upon the achievement of manufacturing, regulatory and commercial milestones. The License Agreement will terminate upon expiration of the last to expire royalty term for all Arcelis-Based Products, with each royalty term being the longer of the expiration of the last valid patent claim covering the applicable Arcelis-Based Product and 10 years from the first commercial sale of such Arcelis-Based Product. Either party may terminate the License Agreement for the other party’s uncured material breach or if specified conditions occur relating to the other party’s insolvency or bankruptcy. The Company may terminate the License Agreement if Lummy HK challenges or assists a third party in challenging specified patent rights of the Company. If Lummy HK terminates the License Agreement upon the Company’s material breach or bankruptcy, Lummy HK is entitled to terminate the licenses it granted to the Company and retain its licenses from the Company with respect to Arcelis-Based Products then in development or being commercialized, subject to Lummy HK’s continued obligation to pay royalties and milestones with respect to such Arcelis-Based Products. See Note 8 for a description of issuances by the Company of the Company’s common stock in connection with the License Agreement.

Note 12 - Net Loss Per Share

Note 12 - Net Loss Per Share	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Earnings Per Share [Text Block]	12. Net Loss Per Share Basic and diluted net loss per common share was determined by dividing net loss attributable to common stockholders by the weighted average common shares outstanding during the period. The Company’s potentially dilutive shares, which include redeemable convertible preferred stock, common stock options and warrants, have not been included in the computation of diluted net loss per share for all periods as the result would be antidilutive. The following table presents the computation of basic and diluted net loss per share of common stock: Three Months Ended June 30, Six Months Ended June 30, 2014 2015 2014 2015 Net loss $ (11,983,531 ) $ (19,604,818 ) $ (21,984,511 ) $ (37,151,033 ) Accretion of redeemable convertible preferred stock - - (863,226 ) - Net loss attributable to common stockholders $ (11,983,531 ) $ (19,604,818 ) $ (22,847,737 ) $ (37,151,033 ) Weighted average common shares outstanding, basic and diluted 19,655,187 20,622,326 15,041,501 20,145,747 Net loss per share attributable to common stockholders, basic and diluted $ (0.61 ) $ (0.95 ) $ (1.52 ) $ (1.84 ) The following potentially dilutive securities have been excluded from the computation of diluted weighted average shares outstanding, as they would be antidilutive: Three Months Ended June 30, Six Months Ended June 30, 2014 2015 2014 2015 Redeemable convertible preferred stock - - 3,133,120 - Stock options outstanding 2,045,730 3,003,899 1,991,521 2,944,576 Warrants outstanding 1 82,781 2,281 82,781

Note 13 - Subsequent Event

Note 13 - Subsequent Event	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Subsequent Events [Text Block]	13. Subsequent Event In September 2014, the Company entered into the Loan Agreement with Horizon Technology Finance Corporation and Fortress Credit Co LLC under which the Company may borrow up to $25.0 million in two tranches of $12.5 million each (see Note 5). The Company borrowed the second tranche of $12.5 million on August 7, 2015. The per annum interest rate for the second tranche is a floating rate equal to 9.25% plus the amount by which the one-month LIBOR exceeds 0.50% (effectively a floating rate equal to 8.75% plus the one-month LIBOR Rate). The total per annum interest rate shall not exceed 10.75%. The Company has agreed to repay the second tranche of $12.5 million in 18 monthly payments of interest only followed by 24 monthly payments of principal and accrued interest through the scheduled maturity date for the second tranche loan on February 7, 2019. In addition, a final payment of $625,000 will be due on February 7, 2019, or such earlier date specified in the Loan Agreement. In addition, if the Company repays all or a portion of the loan prior to the applicable maturity date, it will pay the Lenders a prepayment penalty fee, based on a percentage of the then outstanding principal balance, equal to 3% if the prepayment occurs on or before 24 months after the funding date, 2% if the prepayment occurs more than 24 months after, but on or before 36 months after, the funding date thereof, or 1% if the prepayment occurs more than 36 months after the funding date thereof.

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared by the Company in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and with the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information. The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. Accordingly, the statements do not include all information and footnotes required by U.S. GAAP for annual consolidated financial statements. In the opinion of management, such interim financial statements reflect all adjustments (consisting of normal recurring adjustments) considered necessary for a fair statement of financial position, results of operations and cash flows for such periods. The results for the three and six months ended June 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 or future operating periods. The information included in these interim financial statements should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this Quarterly Report on Form 10-Q and the consolidated financial statements and footnotes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2014. There can be no assurance that the Company will be able to obtain additional debt or equity financing or generate revenues from collaborative partners on terms acceptable to the Company, on a timely basis or at all. The failure of the Company to obtain sufficient funds on acceptable terms when needed could have a material adverse effect on the Company’s business, results of operations and financial condition. The Company expects to continue to incur losses and require additional financial resources to advance its products to either commercial stage or liquidity events. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. Significant intercompany transactions and accounts have been eliminated.
Stockholders' Equity, Policy [Policy Text Block]	Capitalization In connection with the Company’s initial public offering in February 2014, the Company effected a one-for-six reverse split of its common stock. All references to shares of common stock outstanding, average number of shares outstanding and per share amounts in these consolidated financial statements and notes to consolidated financial statements have been restated to reflect the reverse split on a retroactive basis.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less as of the date of purchase to be cash equivalents. Cash deposits are all in financial institutions in the United States of America or Canada. The Company maintains cash in accounts which are in excess of federally insured limits. As of December 31, 2014 and June 30, 2015, $36,973,590 and $22,741,967, respectively, in cash and cash equivalents was uninsured.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Restricted Cash The Company included in noncurrent assets restricted cash of $1,325,000 as of December 31, 2014, which cash consisted of funds maintained in a separate deposit account to secure a letter of credit issued by a bank to the landlord under a lease agreement for construction of the Company’s new corporate headquarters and primary manufacturing facility. As of June 30, 2015, this restricted cash was reclassified to current assets due to the Company’s intention to acquire the facility in the second half of 2015 under a purchase and sale agreement with the landlord. Upon closing of the purchase and sale by the Company of the facility, the lease agreement will terminate and the restricted cash will be released (see Note 7).
Investment Tax Credits [Policy Text Block]	Investment Tax Credits Other income of $140,556 was recognized during the three and six months ended June 30, 2014 for scientific research and experimental development (“SR&ED”) investment tax credits in Canada. Under Canadian and Ontario law, the Company’s Canadian subsidiary is entitled to SR&ED. Because these credits are subject to a claims review, the Company recognizes such credits when received.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Pronouncements In May 2015, the Financial Accounting Standards Board (“FASB”) issued a new standard which removes the requirement to categorize the investments for which fair value is measured using net asset value per share as a practical expedient for fair value within the fair value hierarchy. This standard is effective for the Company for reporting periods beginning after December 15, 2015 and is to be applied retrospectively; early adoption is permitted. The Company is currently evaluating the effect that this new standard will have on the consolidated financial statements. In April 2015, the FASB issued a new standard update which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the associated debt liability. This standard is effective for the Company beginning January 1, 2016. The new guidance will be applied on a retrospective basis. The adoption of this standard is not expected to have a material impact on the consolidated financial statements. In August 2014, the FASB issued a new standard update that specifies the responsibility that an entity’s management has to evaluate whether there is substantial doubt about the entity’s ability to continue as a going concern. The standard is effective for interim and annual periods beginning after December 15, 2016, and is not expected to have an effect on the Company’s consolidated financial statements. In May 2014, the FASB issued a new accounting standard update pertaining to accounting for revenue from contracts with customers. The new guidance clarifies the principles for recognizing revenue and develops a common revenue standard for U.S. GAAP. The standard outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes the most current revenue recognition guidance. In July 2015, the FASB finalized a one year delay in the effective date of this standard, which will now be effective for the Company beginning January 1, 2018, however early adoption is permitted any time after the original effective date, which for the Company is January 1, 2017. The Company is currently evaluating the impact that the implementation of this standard will have on the Company’s consolidated financial statements.

Note 2 - Fair Value of Financ21

Note 2 - Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2015
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Quoted Prices Significant Significant Balance as of Assets Money-market funds $ 35,541,595 $ - $ - $ 35,541,595 Corporate debt securities – short term - 20,266,243 - 20,266,243 Restricted cash – long-term 1,325,000 - - 1,325,000 Total assets at fair value $ 36,866,595 $ 20,266,243 $ - $ 57,132,838 Quoted Prices Significant Significant Balance as of Assets Money-market funds $ 21,667,494 $ - $ - $ 21,667,494 Corporate debt securities – short term - 7,564,886 - 7,564,886 Restricted cash – current 1,325,000 - - 1,325,000 Total assets at fair value $ 22,992,494 $ 7,564,886 $ - $ 30,557,380
Financial Instruments [Table Text Block]	As of December 31, 2014 Amortized Cost Gross Unrealized Holding Gains Gross Aggregate Money-market funds $ 35,541,595 $ - $ - $ 35,541,595 Corporate debt securities – short term 20,278,171 67 (11,995 ) 20,266,243 Restricted cash – long-term 1,325,000 - - 1,325,000 $ 57,144,766 $ 67 $ (11,995 ) $ 57,132,838 As of June 30, 2015 Amortized Cost Gross Unrealized Holding Gains Gross Aggregate Money-market funds $ 21,667,494 $ - $ - $ 21,667,494 Corporate debt securities – short term 7,569,451 - (4,565 ) 7,564,886 Restricted cash – short-term 1,325,000 - - 1,325,000 $ 30,561,945 $ - $ (4,565 ) $ 30,557,380

Note 3 - Property and Equipme22

Note 3 - Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2015
Depreciation and Amortization Expense [Member]
Notes Tables
Property, Plant and Equipment [Table Text Block]	Three months ended June 30, 2014 $ 135,997 Three months ended June 30, 2015 $ 181,530 Six months ended June 30, 2014 $ 266,149 Six months ended June 30, 2015 $ 347,962
Property, Plant and Equipment [Table Text Block]	December 31, 2014 June 30, 2015 Office furniture and equipment $ 458,380 $ 663,683 Computer equipment 788,563 870,835 Computer software 629,948 629,948 Laboratory equipment 5,345,786 5,790,645 Leasehold improvements 2,646,891 2,664,669 Asset related to facility lease obligation 3,380,223 7,620,660 Construction-in progress 500,093 5,877,463 13,749,884 24,117,903 Less: Accumulated depreciation and amortization (8,236,329 ) (8,568,661 ) Property and equipment, net $ 5,513,555 $ 15,549,242

Note 5 - Notes Payable (Tables)

Note 5 - Notes Payable (Tables)	6 Months Ended
	Jun. 30, 2015
Notes Tables
Schedule of Debt [Table Text Block]	December 31, 2014 June 30, 2015 Notes payable under the venture loan and security agreement, including accrued interest $ 12,500,000 $ 12,617,187 Less related debt discount (373,756 ) (323,922 ) Notes payable under the venture loan and security agreement, net of debt discount 12,126,244 12,293,265 Promissory note payable to Medinet, including accrued interest 7,623,546 7,961,778 Other notes payable 77,640 54,371 Total notes payable 19,827,430 20,309,414 Less current portion (30,885 ) (15,345 ) Long-term portion of notes payable $ 19,796,545 $ 20,294,069

Note 8 - Stockholders' Equity24

Note 8 - Stockholders' Equity and Redeemable Convertible Preferred Stock (Tables)	6 Months Ended
	Jun. 30, 2015
Notes Tables
Schedule of Stock by Class [Table Text Block]	Series A Preferred Series B Preferred Series C Preferred Series D Preferred Series E Preferred Total Preferred Stock Shares Amount Shares Amount Shares Amount Shares Amount Shares Amount Shares Amount Balance as of December 31, 2013 1,040,216 $ 332,869 9,803,688 $ 5,521,437 28,716,679 $ 2,655,884 21,040,817 $ 33,262,492 56,011,258 $ 71,891,787 116,612,658 $ 113,664,469 Accretion - - - - - - - 336,350 - 526,876 - 863,226 Shares converted to common stock (1,040,216 ) (332,869 ) (9,803,688 ) (5,521,437 ) (28,716,679 ) (2,655,884 ) (21,040,817 ) (33,598,842 ) (56,011,258 ) (72,418,423 ) (116,612,658 ) (114,527,455 ) Stock issuance costs - - - - - - - - - (240 ) - (240 ) Balance as of December 31, 2014 - $ - - $ - - $ - - $ - - $ - - $ -

Note 9 - Stock Options and Wa25

Note 9 - Stock Options and Warrants (Tables)	6 Months Ended
	Jun. 30, 2015
Notes Tables
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three Months Ended Six Months Ended 2014 2015 2014 2015 Research and development $ 309,202 $ 401,826 $ 617,393 $ 808,017 General and administrative 319,271 496,249 594,116 1,004,573 Total stock-based compensation expense $ 628,473 $ 898,075 $ 1,211,509 $ 1,812,590
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Number of Shares Weighted Average Exercise Price Weighted Average Contractual Term (in years) Outstanding as of December 31, 2014 2,847,097 $ 5.89 Granted 622,300 $ 7.91 Exercised (18,907 ) $ 4.94 Cancelled (19,284 ) $ 8.00 Outstanding as of June 30, 2015 3,431,206 $ 6.25 8.46 Exercisable as of June 30, 2015 1,225,005 $ 5.38 7.47 Vested and expected to vest as of June 30, 2015 3,261,329 $ 6.22 8.44
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Stock Option Plans Employee Stock Purchase Plan Six Months Ended June 30 Six Months Ended June 30 2014 2015 2014 2015 Risk-free interest rate 2.29 % 2.07 % - % 0.07 % Dividend yield 0 % 0 % - % 0 % Expected option term (in years) 7 7 - 0.5 Volatility 96 % 86 % - % 45 %
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Type of Warrant Number of Exercise Price Expiration Common stock 1 $ 23,894.34 7 /13/16 Common stock 82,780 $ 9.06 9 /29/21

Note 12 - Net Loss Per Share (T

Note 12 - Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2015
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2014 2015 2014 2015 Net loss $ (11,983,531 ) $ (19,604,818 ) $ (21,984,511 ) $ (37,151,033 ) Accretion of redeemable convertible preferred stock - - (863,226 ) - Net loss attributable to common stockholders $ (11,983,531 ) $ (19,604,818 ) $ (22,847,737 ) $ (37,151,033 ) Weighted average common shares outstanding, basic and diluted 19,655,187 20,622,326 15,041,501 20,145,747 Net loss per share attributable to common stockholders, basic and diluted $ (0.61 ) $ (0.95 ) $ (1.52 ) $ (1.84 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2014 2015 2014 2015 Redeemable convertible preferred stock - - 3,133,120 - Stock options outstanding 2,045,730 3,003,899 1,991,521 2,944,576 Warrants outstanding 1 82,781 2,281 82,781

Note 1 - Organization and Bas27

Note 1 - Organization and Basis of Presentation (Details Textual)	1 Months Ended	3 Months Ended	6 Months Ended
	Feb. 28, 2014	Jun. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	6
Other Income		$ 140,556	$ 140,556
Cash, Uninsured Amount				$ 22,741,967	$ 36,973,590
Restricted Cash and Cash Equivalents, Noncurrent					$ 1,325,000

Note 2 - Fair Value of Financ28

Note 2 - Fair Value of Financial Instruments (Details Textual) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Long-term Debt, Fair Value	$ 19.9	$ 19.4
Long-term Debt	$ 20.3	$ 19.8

Note 2 - Fair Value of Financ29

Note 2 - Fair Value of Financial Instruments - Fair Value of Financial Instruments (Details) - Fair Value, Measurements, Recurring [Member] - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Assets at fair value	$ 21,667,494	$ 35,541,595
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member]
Assets at fair value
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member]
Assets at fair value
Money Market Funds [Member]
Assets at fair value	$ 21,667,494	$ 35,541,595
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Assets at fair value
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Assets at fair value	$ 7,564,886	$ 20,266,243
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Assets at fair value
Corporate Debt Securities [Member]
Assets at fair value	$ 7,564,886	$ 20,266,243
Restricted Cash, Long-Term [Member] | Fair Value, Inputs, Level 1 [Member]
Assets at fair value	$ 1,325,000	$ 1,325,000
Restricted Cash, Long-Term [Member] | Fair Value, Inputs, Level 2 [Member]
Assets at fair value
Restricted Cash, Long-Term [Member] | Fair Value, Inputs, Level 3 [Member]
Assets at fair value
Restricted Cash, Long-Term [Member]
Assets at fair value	$ 1,325,000	$ 1,325,000
Fair Value, Inputs, Level 1 [Member]
Assets at fair value	22,992,494	36,866,595
Fair Value, Inputs, Level 2 [Member]
Assets at fair value	$ 7,564,886	$ 20,266,243
Fair Value, Inputs, Level 3 [Member]
Assets at fair value
Assets at fair value	$ 30,557,380	$ 57,132,838

Note 2 - Fair Value of Financ30

Note 2 - Fair Value of Financial Instruments - Financial Instruments (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Money Market Funds [Member]
Amortized Cost Basis	$ 21,667,494	$ 35,541,595
Gross Unrealized Holding Gains
Gross Unrealized Holding Losses
Aggregate Fair Value	$ 21,667,494	$ 35,541,595
Short-term Investments [Member] | Corporate Debt Securities [Member]
Amortized Cost Basis	$ 7,569,451	20,278,171
Gross Unrealized Holding Gains		67
Gross Unrealized Holding Losses	$ (4,565)	(11,995)
Aggregate Fair Value	7,564,886	20,266,243
Restricted Cash, Long-Term [Member]
Amortized Cost Basis	$ 1,325,000	$ 1,325,000
Gross Unrealized Holding Gains
Gross Unrealized Holding Losses
Aggregate Fair Value	$ 1,325,000	$ 1,325,000
Amortized Cost Basis	$ 30,561,945	57,144,766
Gross Unrealized Holding Gains		67
Gross Unrealized Holding Losses	$ (4,565)	(11,995)
Aggregate Fair Value	$ 30,557,380	$ 57,132,838

Note 3 - Property and Equipme31

Note 3 - Property and Equipment - Property and Equipment (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Office Furniture and Equipment [Member]
Property and equipment	$ 663,683	$ 458,380
Computer Equipment [Member]
Property and equipment	870,835	788,563
Computer Software [Member]
Property and equipment	629,948	629,948
Laboratory Equipment [Member]
Property and equipment	5,790,645	5,345,786
Leasehold Improvements [Member]
Property and equipment	2,664,669	2,646,891
Assets Held under Capital Leases [Member]
Property and equipment	7,620,660	3,380,223
Construction in Progress [Member]
Property and equipment	5,877,463	500,093
Property and equipment	24,117,903	13,749,884
Less: Accumulated depreciation and amortization	(8,568,661)	(8,236,329)
Property and equipment	$ 15,549,242	$ 5,513,555

Note 3 - Property and Equipme32

Note 3 - Property and Equipment - Depreciation and Amortization Expense (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Depreciation and amortization expense	$ 181,530	$ 135,997	$ 347,962	$ 266,149

Note 4 - Income Taxes (Details

Note 4 - Income Taxes (Details Textual) - Jun. 30, 2015 - USD ($)	Total	Total
Income Tax Expense (Benefit)	$ 0	$ 0

Note 5 - Notes Payable (Details

Note 5 - Notes Payable (Details Textual) - USD ($)	Aug. 07, 2015	Sep. 29, 2014	Dec. 31, 2013	Nov. 30, 2013	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Dec. 31, 2014	Jul. 31, 2012
Venture Loan and Security Agreement [Member] | Secondary Tranche [Member] | Subsequent Event [Member] | LIBOR Rate In Excess of a Half a Percent [Member]
Debt Instrument, Basis Spread on Variable Rate	9.25%
Venture Loan and Security Agreement [Member] | Secondary Tranche [Member] | Subsequent Event [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	8.75%
Venture Loan and Security Agreement [Member] | Secondary Tranche [Member] | Subsequent Event [Member] | Primary Payment Period [Member]
Debt Instrument, Term	1 year 180 days
Venture Loan and Security Agreement [Member] | Secondary Tranche [Member] | Subsequent Event [Member] | Secondary Payment Period [Member]
Debt Instrument, Term	2 years
Venture Loan and Security Agreement [Member] | Secondary Tranche [Member] | Subsequent Event [Member] | Prepayment on or Before Twenty Four Months of Funding Date [Member]
Debt Instrument, Prepayment Penalty, Percentage of Balance	3.00%
Venture Loan and Security Agreement [Member] | Secondary Tranche [Member] | Subsequent Event [Member] | Prepayment After Twenty Four Months But on or Before Thirty Six Months [Member]
Debt Instrument, Prepayment Penalty, Percentage of Balance	2.00%
Venture Loan and Security Agreement [Member] | Secondary Tranche [Member] | Subsequent Event [Member] | Prepayment After Thirty Six Months of Funding Date [Member]
Debt Instrument, Prepayment Penalty, Percentage of Balance	1.00%
Venture Loan and Security Agreement [Member] | Secondary Tranche [Member] | Subsequent Event [Member]
Proceeds from Loans	$ 12.50
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum	10.75%
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid	$ 625,000				$ 625,000		$ 625,000
Venture Loan and Security Agreement [Member] | Secondary Tranche [Member]
Debt Instrument Tranche Amount		$ 12,500,000
Venture Loan and Security Agreement [Member] | Primary Tranche [Member] | Primary Payment Period [Member]
Debt Instrument, Term					1 year 180 days
Venture Loan and Security Agreement [Member] | Primary Tranche [Member] | Secondary Payment Period [Member]
Debt Instrument, Term					2 years
Venture Loan and Security Agreement [Member] | Primary Tranche [Member]
Debt Instrument Tranche Amount		12,500,000
Proceeds from Loans		$ 12,500,000
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid					$ 625,000		$ 625,000
Debt Instrument, Increase, Accrued Interest					$ 117,187
Venture Loan and Security Agreement [Member] | LIBOR Rate In Excess of a Half a Percent [Member]
Debt Instrument, Basis Spread on Variable Rate		9.25%
Venture Loan and Security Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		8.75%
Venture Loan and Security Agreement [Member] | Prepayment on or Before Twenty Four Months of Funding Date [Member]
Debt Instrument, Prepayment Penalty, Percentage of Balance					3.00%		3.00%
Venture Loan and Security Agreement [Member] | Prepayment After Twenty Four Months But on or Before Thirty Six Months [Member]
Debt Instrument, Prepayment Penalty, Percentage of Balance					2.00%		2.00%
Venture Loan and Security Agreement [Member] | Prepayment After Thirty Six Months of Funding Date [Member]
Debt Instrument, Prepayment Penalty, Percentage of Balance					1.00%		1.00%
Venture Loan and Security Agreement [Member]
Debt Instrument Tranche Amount					$ 12,617,187		$ 12,617,187	$ 12,500,000
Debt Instrument, Face Amount		$ 25,000,000
Loan Facility, Number of Tranches		2
Debt Instrument, One-Month LIBOR Basis Rate		0.50%
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum		10.75%
Debt Related Commitment Fees and Debt Issuance Costs		$ 449,796
Debt Instrument, Interest Rate Increase on Default					5.00%		5.00%
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		82,780
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 9.06
Debt Instrument, Unamortized Discount		$ 338,673
Notes Payable					$ 12,293,265		$ 12,293,265	12,126,244
December 2013 Note [Member] | Manufacturing License [Member]
Deferred Credits and Other Liabilities, Noncurrent					1,000,000		1,000,000
December 2013 Note [Member]
Debt Instrument, Face Amount			$ 9,000,000
Debt Instrument, Increase, Accrued Interest					1,100,000
Proceeds from Notes Payable			$ 9,000,000
Debt Instrument, Interest Rate, Stated Percentage			3.00%
Notes Payable			$ 6,900,000		8,000,000		8,000,000
Debt Instrument, Interest Rate, Effective Percentage			8.00%
Deferred Credits and Other Liabilities, Noncurrent			$ 2,100,000		$ 3,100,000		3,100,000
July 2012 Note [Member]
Proceeds from Notes Payable							$ 95,756
Debt Instrument, Interest Rate, Stated Percentage					0.98%		0.98%
Notes Payable					$ 201		$ 201	16,356
Line of Credit Facility, Maximum Borrowing Capacity									$ 100,000
Debt Instrument, Number of Payments					36		36
November 2013 Note [Member]
Proceeds from Notes Payable				$ 77,832
Debt Instrument, Interest Rate, Stated Percentage					8.31%		8.31%
Notes Payable					$ 54,170		$ 54,170	61,284
Debt Instrument, Number of Payments					60		60
Debt Instrument, Increase, Accrued Interest					$ 457,891	$ 345,707
Class of Warrant or Right, Number of Securities Called by Warrants or Rights						9,598
Class of Warrant or Right, Exercise Price of Warrants or Rights						$ 6.60
Notes Payable					20,309,414		$ 20,309,414	19,827,430
Deferred Credits and Other Liabilities, Noncurrent					$ 4,578,500		$ 4,578,500	$ 3,066,000

Note 5 - Notes Payable - Notes

Note 5 - Notes Payable - Notes Payable (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Venture Loan and Security Agreement [Member]
Notes payable under the venture loan and security agreement, including accrued interest	$ 12,617,187	$ 12,500,000
Less related debt discount	(323,922)	(373,756)
Notes Payable	12,293,265	12,126,244
Medinet [Member]
Notes Payable	7,961,778	7,623,546
Notes Payable	20,309,414	19,827,430
Other notes payable	54,371	77,640
Less current portion	(15,345)	(30,885)
Long-term portion of notes payable	$ 20,294,069	$ 19,796,545

Note 6 - Manufacturing Resear36

Note 6 - Manufacturing Research and Development Obligation (Details Textual) - USD ($)	Oct. 29, 2014	Jun. 30, 2015	Dec. 31, 2014
Invetech Pty Ltd [Member]
Deferred Research and Development Manufacturing Service Costs Percentage	30.00%
Maximum Deferred Research and Development Manufacturing Service Costs	$ 5,000,000
Interest Rate on Deferred Research and Development Manufacturing Costs	7.00%
Period from Trigger Event for Repayment of Deferred Costs	90 days
Number of Installments for Repayment in One Year	4
Number of Installments for Repayment in Two Years	8
Bonus Payment Upon Successful Completion of Clinical Trials Percentage of Payment	10.00%
Research and Development Obligation, Noncurrent		$ 4,300,000
Research and Development Obligation Deferred Fees		2,500,000
Research and Development Obligation Estimated Bonus Payment		1,600,000
Research and Development Obligation Accrued Interest		120,124
Contractual Obligation		25,000,000
Research and Development Obligation, Noncurrent		$ 4,256,902	$ 3,475,552

Note 7 - Facility Lease Oblig37

Note 7 - Facility Lease Obligation (Details Textual)	Aug. 18, 2014USD ($)aft²	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Lease Agreement [Member]
Facility Lease Obligation Building Area | ft²	120,000
Area of Real Estate Property | a	11
Payments to Acquire Property, Plant, and Equipment		$ 1.70
Lessee Leasing Arrangements, Operating Leases, Term of Contract	10 years
Capital Lease, Future Monthly Payments	$ 46,917
Security Deposit		1,325,000
Capital Leases, Balance Sheet, Assets by Major Class, Net		7,600,000		$ 3,400,000
Capital Lease Obligations, Noncurrent		7,600,000		3,400,000
Lease Agreement, Purchase Option		7.60
Payments to Acquire Property, Plant, and Equipment		5,010,684	$ 486,372
Capital Lease Obligations, Noncurrent		$ 7,620,660		$ 3,380,223

Note 8 - Stockholders' Equity38

Note 8 - Stockholders' Equity and Redeemable Convertible Preferred Stock (Details Textual) - USD ($)	May. 08, 2015	Apr. 07, 2015	Apr. 02, 2015	Feb. 28, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Additional Paid-in Capital [Member]
Proceeds from Issuance of Common Stock		$ 8,570,000
Royalty Arrangement [Member]
Proceeds from Issuance of Common Stock		1,540,000
Additional Shares the Purchasers Have Agreed to Purchase [Member]
Stock Issued During Period, Value, New Issues		$ 10,000,000
Maximum [Member] | Cowen and Company LLC [Member]
Common Stock Sales Agreement, Amount	$ 30,000,000
Maximum [Member]
Shelf Registration, Registration Amount	$ 125,000,000
Underwriter Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period				603,725
Underwriting Discounts and Commissions [Member]
Payments of Stock Issuance Costs				$ 3,500,000
Other Offering Expenses [Member]
Payments of Stock Issuance Costs				$ 2,900,000
Series A Redeemable Convertible Preferred Stock [Member]
Temporary Equity, Shares Outstanding							1,040,216	1,040,216
Series B Redeemable Convertible Preferred Stock [Member]
Temporary Equity, Shares Outstanding							9,803,688	9,803,688
Series C Redeemable Convertible Preferred Stock [Member]
Temporary Equity, Shares Outstanding							28,716,679	28,716,679
Series D Redeemable Convertible Preferred Stock [Member]
Temporary Equity, Shares Outstanding							21,040,817	21,040,817
Series E Redeemable Convertible Preferred Stock [Member]
Temporary Equity, Shares Outstanding							56,011,258	56,011,258
Stock Issued During Period, Shares, New Issues			1,000,000	6,228,725
Share Price		$ 8.57	$ 10.11	$ 8
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent		18.00%
Proceeds from Issuance of Common Stock		$ 10,110,000
Stock Issued During Period, Value, New Issues				$ 49,800,000
Purchase Agreement Aggregate Investment		$ 20,000,000
Sale of Stock, Share Lock Up Period		180 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period					18,907
Payments of Stock Issuance Costs						$ 4,787,854
Proceeds from Issuance Initial Public Offering				$ 43,400,000	$ 8,570,000	$ 49,829,800
Temporary Equity, Shares Outstanding								116,612,658
Convertible Preferred Stock, Shares Issued upon Conversion								13,188,251

Note 8 - Stockholders' Equity39

Note 8 - Stockholders' Equity and Redeemable Convertible Preferred Stock - Preferred Stock (Details) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Series A Redeemable Convertible Preferred Stock [Member]
Balance (in shares)	1,040,216	1,040,216	1,040,216
Balance		$ 332,869	$ 332,869
Accretion
Shares converted to common stock (in shares)			(1,040,216)
Shares converted to common stock			$ (332,869)
Stock issuance costs
Balance (in shares)			1,040,216
Balance
Series B Redeemable Convertible Preferred Stock [Member]
Balance (in shares)	9,803,688	9,803,688	9,803,688
Balance		$ 5,521,437	$ 5,521,437
Accretion
Shares converted to common stock (in shares)			(9,803,688)
Shares converted to common stock			$ (5,521,437)
Stock issuance costs
Balance (in shares)			9,803,688
Balance
Series C Redeemable Convertible Preferred Stock [Member]
Balance (in shares)	28,716,679	28,716,679	28,716,679
Balance		$ 2,655,884	$ 2,655,884
Accretion
Shares converted to common stock (in shares)			(28,716,679)
Shares converted to common stock			$ (2,655,884)
Stock issuance costs
Balance (in shares)			28,716,679
Balance
Series D Redeemable Convertible Preferred Stock [Member]
Balance (in shares)	21,040,817	21,040,817	21,040,817
Balance		$ 33,262,492	$ 33,262,492
Accretion			$ 336,350
Shares converted to common stock (in shares)			(21,040,817)
Shares converted to common stock			$ (33,598,842)
Stock issuance costs
Balance (in shares)			21,040,817
Balance
Series E Redeemable Convertible Preferred Stock [Member]
Balance (in shares)	56,011,258	56,011,258	56,011,258
Balance		$ 71,891,787	$ 71,891,787
Accretion			$ 526,876
Shares converted to common stock (in shares)			(56,011,258)
Shares converted to common stock			$ (72,418,423)
Stock issuance costs			$ (240)
Balance (in shares)			56,011,258
Balance
Balance (in shares)		116,612,658	116,612,658
Balance		$ 113,664,469	$ 113,664,469
Accretion			$ 863,226
Shares converted to common stock (in shares)			(116,612,658)
Shares converted to common stock		$ (114,527,695)	$ (114,527,455)
Stock issuance costs			$ (240)
Balance (in shares)
Balance

Note 9 - Stock Options and Wa40

Note 9 - Stock Options and Warrants (Details Textual) - Scenario, Unspecified [Domain] - USD ($)	Apr. 07, 2015	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2015	Feb. 27, 2015	Jun. 30, 2014	Apr. 02, 2015	Mar. 02, 2015	Sep. 30, 2014	Sep. 02, 2014	Feb. 28, 2014	Feb. 12, 2014	Jan. 31, 2014
The 2014 ESPP [Member] | Employees and Non-employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross					622,300
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit					$ 7.05
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit					$ 9.01
The 2014 ESPP [Member]
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense					$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate		10.00%		10.00%	10.00%
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent					85.00%
Share Price		$ 6.85		$ 6.85	$ 6.85	$ 9.02			$ 9.02		$ 9.83
Employee Stock Purchase Plan (ESPP), Number of Shares Allocated						13,054
Allocated Share-based Compensation Expense				$ 45,736		$ 54,508
Common Stock, Capital Shares Reserved for Future Issuance		333,299		333,299	333,299
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		510,650
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit		$ 7.05
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit		$ 8.46
The 2014 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized		2,309,023		2,309,023	2,309,023									1,951,182
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized, Previously Reserved for Issuance Under a Different Plan														357,841
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized, Percent of Shares Outstanding		4.00%		4.00%	4.00%
The 2008 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant													381,250
Lenders and Affiliates [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights										82,780
Class of Warrant or Right, Exercise Price of Warrants or Rights										$ 9.06
Settlement of Warrants [Member]
Conversion of Stock, Shares Issued							1,679
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent	18.00%
Share Price	$ 8.57							$ 10.11				$ 8
Allocated Share-based Compensation Expense		$ 898,075	$ 628,473		$ 1,812,590		$ 1,211,509
Common Stock, Capital Shares Reserved for Future Issuance		4,179,401		4,179,401	4,179,401
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross					622,300
Class of Warrant or Right, Number of Securities Called by Warrants or Rights			9,598				9,598
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 6.60				$ 6.60

Note 9 - Stock Options and Wa41

Note 9 - Stock Options and Warrants - Stock-based Compensation Expense (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Research and Development Expense [Member]
Research and development	$ 401,826	$ 309,202	$ 808,017	$ 617,393
General and Administrative Expense [Member]
Research and development	496,249	319,271	1,004,573	594,116
Research and development	$ 898,075	$ 628,473	$ 1,812,590	$ 1,211,509

Note 9 - Stock Options and Wa42

Note 9 - Stock Options and Warrants - Stock Option Activity (Details) - Jun. 30, 2015 - $ / shares	Total
Outstanding (in shares)	2,847,097
Outstanding (in dollars per share)	$ 5.89
Granted (in shares)	622,300
Granted (in dollars per share)	$ 7.91
Exercised (in shares)	(18,907)
Exercised (in dollars per share)	$ 4.94
Cancelled (in shares)	(19,284)
Cancelled (in dollars per share)	$ 8
Outstanding (in shares)	3,431,206
Outstanding (in dollars per share)	$ 6.25
Outstanding	8 years 167 days
Exercisable (in shares)	1,225,005
Exercisable (in dollars per share)	$ 5.38
Exercisable	7 years 171 days
Vested and expected to vest (in shares)	3,261,329
Vested and expected to vest (in dollars per share)	$ 6.22
Vested and expected to vest	8 years 160 days

Note 9 - Stock Options and Wa43

Note 9 - Stock Options and Warrants - Stock Option Valuation Assumptions (Details)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Stock Option Plans [Member]
Risk-free interest rate	2.07%	2.29%
Dividend yield	0.00%	0.00%
Expected option term (in years)	7 years	7 years
Volatility	86.00%	96.00%
Employee Stock Purchase Plan [Member]
Risk-free interest rate	0.07%
Dividend yield	0.00%
Expected option term (in years)	182 days
Volatility	45.00%

Note 9 - Stock Options and Wa44

Note 9 - Stock Options and Warrants - Warrants (Details) - $ / shares	6 Months Ended
	Jun. 30, 2015
Warrant One [Member]
Number of Warrant Shares (in shares)	1
Exercise Price (in dollars per share)	$ 23,894.34
Expiration Date	Jul. 13, 2016
Warrant Two [Member]
Number of Warrant Shares (in shares)	82,780
Exercise Price (in dollars per share)	$ 9.06
Expiration Date	Sep. 29, 2021

Note 10 - Revenue and Concent45

Note 10 - Revenue and Concentration of Credit Risk (Details Textual) - USD ($)	3 Months Ended		6 Months Ended		106 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Dec. 31, 2014	Sep. 18, 2014
NIH & NIAID [Member] | Operating Expense [Member] | Initial [Member]
Unattained Funds, Contracted Commitment	$ 38,400,000		$ 38,400,000		$ 38,400,000
NIH & NIAID [Member] | Other Specified [Member] | Initial [Member]
Unattained Funds, Contracted Commitment	1,400,000		1,400,000		1,400,000
NIH & NIAID [Member] | Additional [Member]
Unattained Funds, Contracted Commitment	5,400,000		5,400,000		5,400,000		$ 500,000
NIH & NIAID [Member]
Provision for Other Credit Losses			0
Unattained Funds, Contracted Commitment	39,800,000		39,800,000		39,800,000
Revenues	79,891	$ 473,163	243,606	$ 1,271,951	36,900,000
Remaining Unattained Funds Contracted Commitment	2,900,000		2,900,000		2,900,000
Accounts Receivable, Net, Current	57,029		57,029		57,029	$ 129,019
Accounts Payable, Current	21,994		21,994		21,994	8,493
Revenues	107,391	$ 473,163	286,162	$ 1,271,951
Accounts Payable, Current	$ 4,674,131		$ 4,674,131		$ 4,674,131	$ 1,860,491

Note 11 - Collaboration Agree46

Note 11 - Collaboration Agreements (Details Textual) - USD ($)	1 Months Ended		6 Months Ended
	Dec. 31, 2013	Jul. 31, 2013	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Nov. 30, 2013	Aug. 31, 2013
Pharmstandard [Member] | Maximum [Member]
Royalties Percent of Net Sales							20.00%
Pharmstandard [Member] | Scenario, Plan [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights						499,788
Pharmstandard [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights						$ 5.82
Green Cross [Member] | Maximum [Member]
Royalties Percent of Net Sales		20.00%
Green Cross [Member] | Initial Submission of Application for Regulatory Approval [Member]
Royalty Guarantees, Commitments, Amount		$ 500,000
Green Cross [Member] | Initial Regulatory Approval [Member]
Royalty Guarantees, Commitments, Amount		$ 500,000
Green Cross [Member]
Royalty Contract Term		15 years
Medinet [Member] | Maximum [Member] | Developmental and Regulatory Milestones [Member]
Royalty Guarantees, Commitments, Amount	$ 9,000,000
Medinet [Member] | Sales Milestones [Member]
Royalty Guarantees, Commitments, Amount	5,000,000
Medinet [Member] | Sale Option [Member]
Royalty Guarantees, Commitments, Amount	1,000,000
Medinet [Member] | Nonsoftware License Arrangement [Member]
Deferred Credits and Other Liabilities, Noncurrent	1,000,000		$ 1,000,000
Medinet [Member] | Below Market Rate Adjustment [Member]
Deferred Credits and Other Liabilities, Noncurrent	2,100,000		$ 3,100,000
Medinet [Member]
Duration After Triggering Event			30 days
Percent of Triggering Events Occurred			50.00%
Proceeds from License Fees Received	1,000,000
Proceeds from Notes Payable	$ 9,000,000
Debt Instrument, Interest Rate, Stated Percentage	3.00%
Notes Payable	$ 6,900,000		$ 8,000,000
Debt Instrument, Interest Rate, Effective Percentage	8.00%
Debt Instrument, Increase, Accrued Interest			1,100,000
Medinet [Member]
Debt Instrument, Face Amount	$ 9,000,000
Class of Warrant or Right, Number of Securities Called by Warrants or Rights				9,598
Class of Warrant or Right, Exercise Price of Warrants or Rights				$ 6.60
Deferred Credits and Other Liabilities, Noncurrent			4,578,500		$ 3,066,000
Notes Payable			20,309,414		$ 19,827,430
Debt Instrument, Increase, Accrued Interest			457,891	$ 345,707
Revenue Recognition Milestone Method, Maximum Revenue			$ 20,000,000
License Agreement Royalty Term			10 years

Note 12- Net Loss Per Share - B

Note 12- Net Loss Per Share - Basic and Diluted Net Loss Per Share (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net loss	$ (19,604,818)	$ (11,983,531)	$ (37,151,033)	$ (21,984,511)
Accretion of redeemable convertible preferred stock				(863,226)
Net loss attributable to common stockholders	$ (19,604,818)	$ (11,983,531)	$ (37,151,033)	$ (22,847,737)
Weighted average common shares outstanding, basic and diluted (in shares)	20,622,326	19,655,187	20,145,747	15,041,501
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share)	$ (0.95)	$ (0.61)	$ (1.84)	$ (1.52)

Note 12 - Net Loss Per Share -

Note 12 - Net Loss Per Share - Antidilutive Securities (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Redeemable Convertible Preferred Stock [Member]
Redeemable convertible preferred stock (in shares)				3,133,120
Employee Stock Option [Member]
Redeemable convertible preferred stock (in shares)	3,003,899	2,045,730	2,944,576	1,991,521
Warrant [Member]
Redeemable convertible preferred stock (in shares)	82,781	1	82,781	2,281

Note 13 - Subsequent Event (Det

Note 13 - Subsequent Event (Details Textual) - Venture Loan and Security Agreement [Member]	Aug. 07, 2015USD ($)	Sep. 29, 2014USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Secondary Tranche [Member] | Subsequent Event [Member] | LIBOR Rate In Excess of a Half a Percent [Member]
Debt Instrument, Basis Spread on Variable Rate	9.25%
Secondary Tranche [Member] | Subsequent Event [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	8.75%
Secondary Tranche [Member] | Subsequent Event [Member] | Primary Payment Period [Member]
Debt Instrument, Term	1 year 180 days
Secondary Tranche [Member] | Subsequent Event [Member] | Secondary Payment Period [Member]
Debt Instrument, Term	2 years
Secondary Tranche [Member] | Subsequent Event [Member] | Prepayment on or Before Twenty Four Months of Funding Date [Member]
Debt Instrument, Prepayment Penalty, Percentage of Balance	3.00%
Secondary Tranche [Member] | Subsequent Event [Member] | Prepayment After Twenty Four Months But on or Before Thirty Six Months [Member]
Debt Instrument, Prepayment Penalty, Percentage of Balance	2.00%
Secondary Tranche [Member] | Subsequent Event [Member] | Prepayment After Thirty Six Months of Funding Date [Member]
Debt Instrument, Prepayment Penalty, Percentage of Balance	1.00%
Secondary Tranche [Member] | Subsequent Event [Member]
Proceeds from Loans	$ 12.50
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum	10.75%
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid	$ 625,000		$ 625,000
Secondary Tranche [Member]
Debt Instrument Tranche Amount		$ 12,500,000
Primary Tranche [Member] | Primary Payment Period [Member]
Debt Instrument, Term			1 year 180 days
Primary Tranche [Member] | Secondary Payment Period [Member]
Debt Instrument, Term			2 years
Primary Tranche [Member]
Proceeds from Loans		12,500,000
Debt Instrument Tranche Amount		$ 12,500,000
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid			$ 625,000
LIBOR Rate In Excess of a Half a Percent [Member]
Debt Instrument, Basis Spread on Variable Rate		9.25%
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		8.75%
Prepayment on or Before Twenty Four Months of Funding Date [Member]
Debt Instrument, Prepayment Penalty, Percentage of Balance			3.00%
Prepayment After Twenty Four Months But on or Before Thirty Six Months [Member]
Debt Instrument, Prepayment Penalty, Percentage of Balance			2.00%
Prepayment After Thirty Six Months of Funding Date [Member]
Debt Instrument, Prepayment Penalty, Percentage of Balance			1.00%
Debt Instrument, Face Amount		$ 25,000,000
Loan Facility, Number of Tranches		2
Debt Instrument Tranche Amount			$ 12,617,187	$ 12,500,000
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum		10.75%