Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Mar. 21, 2014 | |
Document Information [Line Items] | ' | ' |
Document Type | '10-K | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Dec-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'FY | ' |
Trading Symbol | 'CPXX | ' |
Entity Common Stock, Shares Outstanding | ' | 26,035,596 |
Entity Registrant Name | 'Celator Pharmaceuticals Inc | ' |
Entity Central Index Key | '0001327467 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Entity Voluntary Filers | 'No | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Public Float | $0 | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Current assets: | ' | ' |
Cash and cash equivalents | $23,589,516 | $9,648,008 |
Restricted cash | 287,657 | 40,205 |
Other receivables | 1,417,313 | 2,000,357 |
Prepaid expenses and deposits | 491,465 | 148,275 |
Assets held for sale | 74,086 | 251,269 |
Other current assets | 468,389 | 0 |
Total current assets | 26,328,426 | 12,088,114 |
Property and equipment, net | 1,138,579 | 1,245,025 |
Other assets | 5,745 | 105,805 |
Total assets | 27,472,750 | 13,438,944 |
Current liabilities: | ' | ' |
Accounts payable | 1,193,148 | 699,858 |
Accrued liabilities | 1,630,809 | 1,194,998 |
Current portion of deferred revenue | 542,986 | 615,384 |
Current portion of loans | 0 | 1,200,000 |
Total current liabilities | 3,366,943 | 3,710,240 |
Deferred revenue | 588,236 | 1,076,924 |
Deferred rent | 53,084 | 0 |
Loans payable | 0 | 1,800,000 |
Total liabilities | 4,008,263 | 6,587,164 |
Commitments and contingencies (Note 13) | ' | ' |
Stockholders' equity | ' | ' |
Common stock Authorized 255,000,000 shares, par value $0.001 issued and outstanding 26,035,596 and 13,673,160 shares as of December 31, 2013 and 2012, respectively | 26,036 | 13,673 |
Warrants | 1,083,193 | 1,083,193 |
Additional paid-in capital | 155,953,894 | 118,509,395 |
Accumulated other comprehensive loss | -1,133,266 | -1,133,266 |
Deficit accumulated during the development stage | -132,465,370 | -111,621,215 |
Total stockholders' equity | 23,464,487 | 6,851,780 |
Total liabilities and stockholders' equity | $27,472,750 | $13,438,944 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Common stock, authorized shares | 255,000,000 | 255,000,000 |
Common stock, par value (in dollars per share) | $0.00 | $0.00 |
Common stock, issued shares | 26,035,596 | 13,673,160 |
Common stock, outstanding shares | 26,035,596 | 13,673,160 |
Consolidated_Statement_of_Loss
Consolidated Statement of Loss and Comprehensive Loss (USD $) | 12 Months Ended | 169 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Expenses | ' | ' | ' |
Research and development | $9,423,056 | $4,868,734 | $89,840,721 |
Leukemia & Lymphoma Society funding | -561,086 | -1,442,692 | -6,017,508 |
Research collaboration income | 0 | -19,440 | -2,240,720 |
General and administrative | 5,427,707 | 4,098,446 | 42,628,427 |
Loss on disposal of property and equipment | 126,633 | 83,077 | 898,719 |
Amortization and depreciation | 197,743 | 411,621 | 4,871,973 |
Operating loss | -14,614,053 | -7,999,746 | -129,981,612 |
Other income (expenses) | ' | ' | ' |
Foreign exchange (loss) gain | -31,028 | -11,500 | 512,220 |
Interest and miscellaneous income | 9,092 | 2,734 | 2,771,061 |
Gain on settlement in exchange of preferred stock | 0 | 0 | 1,562,689 |
Non-cash derivative instrument charge | -7,473,108 | 0 | -7,473,108 |
Interest expense | -147,360 | -4,263,774 | -6,036,652 |
Loss before income taxes | -22,256,457 | -12,272,286 | -138,645,402 |
Income tax benefit | 1,412,302 | 1,363,559 | 7,655,885 |
Net loss incurred in the development stage | -20,844,155 | -10,908,727 | -130,989,517 |
Other comprehensive loss attributable to foreign exchange translation | 0 | 0 | -1,133,266 |
Comprehensive loss | -20,844,155 | -10,908,727 | -132,122,783 |
Accretion on preferred stock | 0 | 0 | -1,475,853 |
Total comprehensive loss attributable to common stockholders | -20,844,155 | -10,908,727 | -133,598,636 |
Net loss incurred in the development stage | -20,844,155 | -10,908,727 | -130,989,517 |
Accretion on preferred stock | 0 | 0 | -1,475,853 |
Net loss attributable to common stockholders | ($20,844,155) | ($10,908,727) | ($132,465,370) |
Net loss per share | ' | ' | ' |
Basic and diluted | ($0.95) | ($0.88) | ' |
Weighted average of common shares outstanding | ' | ' | ' |
Basic and diluted | 22,000,476 | 12,361,163 | ' |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Total | Common Stock [Member] | Restricted Stock [Member] | Warrants Amount [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Loss [Member] | Deficit Accumulated During The Development Stage [Member] |
Beginning balance at Dec. 31, 1999 | ' | ' | ' | ' | ' | ' | ' |
Issued on incorporation | 3,256 | 26 | 0 | 0 | 3,230 | 0 | 0 |
Issued on incorporation, shares | ' | 25,802 | 0 | ' | ' | ' | ' |
Issued for technology | 202 | 2 | 0 | 0 | 200 | 0 | 0 |
Issued for technology, shares | ' | 1,602 | 0 | ' | ' | ' | ' |
Issued for cash, net of stock issue costs | 402,697 | 8 | 0 | 0 | 402,689 | 0 | 0 |
Issued for cash, net of stock issue costs, Shares | ' | 8,479 | 0 | ' | ' | ' | ' |
Foreign currency translation adjustment | -1,987 | 0 | 0 | 0 | 0 | -1,987 | 0 |
Net loss | -200,050 | 0 | 0 | 0 | 0 | 0 | -200,050 |
Ending balance at Dec. 31, 2000 | 204,118 | 36 | 0 | 0 | 406,119 | -1,987 | -200,050 |
Ending balance, shares at Dec. 31, 2000 | ' | 35,883 | 0 | ' | ' | ' | ' |
Issued for cash, net of stock issue costs | 1,084,824 | 7 | 0 | 0 | 1,084,817 | 0 | 0 |
Issued for cash, net of stock issue costs, Shares | ' | 7,467 | 0 | ' | ' | ' | ' |
Issued for cash — exercise of stock options | 3,722 | 0 | 0 | 0 | 3,722 | 0 | 0 |
Issued for cash — exercise of stock options, shares | ' | 55 | 0 | ' | ' | ' | ' |
Foreign currency translation adjustment | -20,689 | 0 | 0 | 0 | 0 | -20,689 | 0 |
Net loss | -773,668 | 0 | 0 | 0 | 0 | 0 | -773,668 |
Ending balance at Dec. 31, 2001 | 498,307 | 43 | 0 | 0 | 1,494,658 | -22,676 | -973,718 |
Ending balance, shares at Dec. 31, 2001 | ' | 43,405 | 0 | ' | ' | ' | ' |
Issued for cash, net of stock issue costs | 137,736 | 1 | 0 | 0 | 137,735 | 0 | 0 |
Issued for cash, net of stock issue costs, Shares | ' | 1,118 | 0 | ' | ' | ' | ' |
Foreign currency translation adjustment | 13,861 | 0 | 0 | 0 | 0 | 13,861 | 0 |
Net loss | -1,497,719 | 0 | 0 | 0 | 0 | 0 | -1,497,719 |
Ending balance at Dec. 31, 2002 | -847,815 | 44 | 0 | 0 | 1,632,393 | -8,815 | -2,471,437 |
Ending balance, shares at Dec. 31, 2002 | ' | 44,523 | 0 | ' | ' | ' | ' |
Issued for cash — exercise of stock options | 8,517 | 4 | 0 | 0 | 8,513 | 0 | 0 |
Issued for cash — exercise of stock options, shares | ' | 3,522 | 0 | ' | ' | ' | ' |
Foreign currency translation adjustment | -484,668 | 0 | 0 | 0 | 0 | -484,668 | 0 |
Net loss | -3,506,027 | 0 | 0 | 0 | 0 | 0 | -3,506,027 |
Ending balance at Dec. 31, 2003 | -4,829,993 | 48 | 0 | 0 | 1,640,906 | -493,483 | -5,977,464 |
Ending balance, shares at Dec. 31, 2003 | ' | 48,045 | 0 | ' | ' | ' | ' |
Issued for cash — exercise of stock options | 15,470 | 6 | 0 | 0 | 15,464 | 0 | 0 |
Issued for cash — exercise of stock options, shares | ' | 6,410 | 0 | ' | ' | ' | ' |
Foreign currency translation adjustment | -811,423 | 0 | 0 | 0 | 0 | -811,423 | 0 |
Net loss | -5,445,046 | 0 | 0 | 0 | 0 | 0 | -5,445,046 |
Ending balance at Dec. 31, 2004 | -11,070,992 | 54 | 0 | 0 | 1,656,370 | -1,304,906 | -11,422,510 |
Ending balance, shares at Dec. 31, 2004 | ' | 54,455 | 0 | ' | ' | ' | ' |
Warrants issued on conversion of bridge loan | 425,000 | 0 | 0 | 425,000 | 0 | 0 | 0 |
Warrants issued on conversion of bridge loan, shares | ' | 0 | 0 | ' | ' | ' | ' |
Issued on reorganization for cash | 9,496,690 | 844 | 0 | 0 | 9,495,846 | 0 | 0 |
Issued on reorganization or for cash, shares | ' | 844,173 | 0 | ' | ' | ' | ' |
Issued on conversion of debt | 2,777,144 | 247 | 0 | 0 | 2,776,897 | 0 | 0 |
Issued on conversion of debt, shares | ' | 246,864 | 0 | ' | ' | ' | ' |
Issued for cash, net of stock issue costs | 36,465,348 | 3,309 | 0 | 0 | 36,462,039 | 0 | 0 |
Issued for cash, net of stock issue costs, Shares | ' | 3,308,789 | 0 | ' | ' | ' | ' |
Issued for cash — exercise of stock options | 33,146 | 12 | 0 | 0 | 33,134 | 0 | 0 |
Issued for cash — exercise of stock options, shares | ' | 12,054 | 0 | ' | ' | ' | ' |
Issued for cash on exercise of warrants | 1,220 | 0 | 0 | 0 | 1,220 | 0 | 0 |
Issued for cash on exercise of warrants, shares | ' | 108 | 0 | ' | ' | ' | ' |
Foreign currency translation adjustment | 171,640 | 0 | 0 | 0 | 0 | 171,640 | 0 |
Net loss | -8,913,249 | 0 | 0 | 0 | 0 | 0 | -8,913,249 |
Ending balance at Dec. 31, 2005 | 29,385,947 | 4,466 | 0 | 425,000 | 50,425,506 | -1,133,266 | -20,335,759 |
Ending balance, shares at Dec. 31, 2005 | ' | 4,466,443 | 0 | ' | ' | ' | ' |
Stock compensation expense recognized | 201,989 | 0 | 0 | 0 | 201,989 | 0 | 0 |
Issued for cash — exercise of stock options | 4,677 | 2 | 0 | 0 | 4,675 | 0 | 0 |
Issued for cash — exercise of stock options, shares | ' | 1,705 | 0 | ' | ' | ' | ' |
Net loss | -14,588,786 | 0 | 0 | 0 | 0 | 0 | -14,588,786 |
Ending balance at Dec. 31, 2006 | 15,003,827 | 4,468 | 0 | 425,000 | 50,632,170 | -1,133,266 | -34,924,545 |
Ending balance, shares at Dec. 31, 2006 | ' | 4,468,148 | 0 | ' | ' | ' | ' |
Stock compensation expense recognized | 243,340 | 0 | 0 | 0 | 243,340 | 0 | 0 |
Issued for cash, net of stock issue costs | 9,977,557 | 889 | 0 | 0 | 9,976,668 | 0 | 0 |
Issued for cash, net of stock issue costs, Shares | ' | 888,914 | 0 | ' | ' | ' | ' |
Issued for cash — exercise of stock options | 31,203 | 14 | 0 | 0 | 31,189 | 0 | 0 |
Issued for cash — exercise of stock options, shares | ' | 13,748 | 0 | ' | ' | ' | ' |
Net loss | -16,761,805 | 0 | 0 | 0 | 0 | 0 | -16,761,805 |
Ending balance at Dec. 31, 2007 | 8,494,122 | 5,371 | 0 | 425,000 | 60,883,367 | -1,133,266 | -51,686,350 |
Ending balance, shares at Dec. 31, 2007 | ' | 5,370,810 | 0 | ' | ' | ' | ' |
Issued on reorganization for cash | 4,499 | 1 | 0 | 0 | 4,498 | 0 | 0 |
Issued on reorganization or for cash, shares | ' | 1,334 | 0 | ' | ' | ' | ' |
Stock compensation expense recognized | 186,578 | 0 | 0 | 0 | 186,578 | 0 | 0 |
Issued for cash, net of stock issue costs | 22,566,293 | 2,014 | 0 | 0 | 22,564,279 | 0 | 0 |
Issued for cash, net of stock issue costs, Shares | ' | 2,014,365 | 0 | ' | ' | ' | ' |
Issued for cash — exercise of stock options | 2,662 | 2 | 0 | 0 | 2,660 | 0 | 0 |
Issued for cash — exercise of stock options, shares | ' | 1,159 | 0 | ' | ' | ' | ' |
Issued for cash, restricted stock | 13,501 | 0 | 4 | 0 | 13,497 | 0 | 0 |
Issued for cash, restricted stock, shares | ' | 0 | 4,000 | ' | ' | ' | ' |
Net loss | -14,028,617 | 0 | 0 | 0 | 0 | 0 | -14,028,617 |
Ending balance at Dec. 31, 2008 | 17,239,038 | 7,388 | 4 | 425,000 | 83,654,879 | -1,133,266 | -65,714,967 |
Ending balance, shares at Dec. 31, 2008 | ' | 7,387,668 | 4,000 | ' | ' | ' | ' |
Stock compensation expense recognized | 200,522 | 0 | 0 | 0 | 200,522 | 0 | 0 |
Issued for cash — exercise of stock options | 3,473 | 1 | 0 | 0 | 3,472 | 0 | 0 |
Issued for cash — exercise of stock options, shares | ' | 1,432 | 0 | ' | ' | ' | ' |
Restricted stock transferred to common stock | 0 | 1 | -1 | 0 | 0 | 0 | 0 |
Restricted stock transferred to common stock, shares | ' | 1,333 | -1,333 | ' | ' | ' | ' |
Warrants issued on signing of loan agreement | 9,333 | 0 | 0 | 9,333 | 0 | 0 | 0 |
Warrants issued on signing of loan agreement, shares | ' | 0 | 0 | ' | ' | ' | ' |
Net loss | -10,022,979 | 0 | 0 | 0 | 0 | 0 | -10,022,979 |
Ending balance at Dec. 31, 2009 | 7,429,387 | 7,390 | 3 | 434,333 | 83,858,873 | -1,133,266 | -75,737,946 |
Ending balance, shares at Dec. 31, 2009 | ' | 7,390,433 | 2,667 | ' | ' | ' | ' |
Stock compensation expense recognized | 169,424 | 0 | 0 | 0 | 169,424 | 0 | 0 |
Issued for cash, net of stock issue costs | 14,827,612 | 2,878 | 0 | 0 | 14,824,734 | 0 | 0 |
Issued for cash, net of stock issue costs, Shares | ' | 2,877,777 | 0 | ' | ' | ' | ' |
Issued for cash — exercise of stock options | 1,435 | 0 | 0 | 0 | 1,435 | 0 | 0 |
Issued for cash — exercise of stock options, shares | ' | 423 | 0 | ' | ' | ' | ' |
Restricted stock transferred to common stock | -1 | 1 | -2 | 0 | 0 | 0 | 0 |
Restricted stock transferred to common stock, shares | ' | 1,334 | -1,334 | ' | ' | ' | ' |
Warrants expired, April 30, 2010 | 0 | 0 | 0 | -425,000 | 425,000 | 0 | 0 |
Warrants expired, shares April 30, 2010 | ' | 0 | 0 | ' | ' | ' | ' |
Net loss | -10,814,788 | 0 | 0 | 0 | 0 | 0 | -10,814,788 |
Ending balance at Dec. 31, 2010 | 11,613,069 | 10,269 | 1 | 9,333 | 99,279,466 | -1,133,266 | -86,552,734 |
Ending balance, shares at Dec. 31, 2010 | ' | 10,269,967 | 1,333 | ' | ' | ' | ' |
Stock compensation expense recognized | 114,089 | 0 | 0 | 0 | 114,089 | 0 | 0 |
Issued for cash, net of stock issue costs | 4,992,861 | 960 | 0 | 0 | 4,991,901 | 0 | 0 |
Issued for cash, net of stock issue costs, Shares | ' | 959,261 | 0 | ' | ' | ' | ' |
Restricted stock transferred to common stock | 0 | 1 | -1 | 0 | 0 | 0 | 0 |
Restricted stock transferred to common stock, shares | ' | 1,333 | -1,333 | ' | ' | ' | ' |
Net loss | -14,159,754 | 0 | 0 | 0 | 0 | 0 | -14,159,754 |
Ending balance at Dec. 31, 2011 | 2,560,265 | 11,230 | 0 | 9,333 | 104,385,456 | -1,133,266 | -100,712,488 |
Ending balance, shares at Dec. 31, 2011 | ' | 11,230,561 | 0 | ' | ' | ' | ' |
Stock compensation expense recognized | 3,210 | 0 | 0 | 0 | 3,210 | 0 | 0 |
Issued for cash, net of stock issue costs | 5,925,265 | 1,203 | 0 | 0 | 5,924,062 | 0 | 0 |
Issued for cash, net of stock issue costs, Shares | ' | 1,202,276 | 0 | ' | ' | ' | ' |
Issued for cash — exercise of stock options | 240 | 0 | 0 | 0 | 240 | 0 | 0 |
Issued for cash — exercise of stock options, shares | 107 | 107 | 0 | ' | ' | ' | ' |
Investor note converted to common stock | 6,842,144 | 1,240 | 0 | 0 | 6,840,904 | 0 | 0 |
Investor note converted to common stock, shares | ' | 1,240,216 | 0 | ' | ' | ' | ' |
Foreign currency translation adjustment | 0 | ' | ' | ' | ' | ' | ' |
Conversion of warrant liability and issuance of warrants | 1,073,860 | 0 | 0 | 1,073,860 | 0 | 0 | 0 |
Beneficial conversion option | 1,355,523 | 0 | 0 | 0 | 1,355,523 | 0 | 0 |
Net loss | -10,908,727 | 0 | 0 | 0 | 0 | 0 | -10,908,727 |
Ending balance at Dec. 31, 2012 | 6,851,780 | 13,673 | 0 | 1,083,193 | 118,509,395 | -1,133,266 | -111,621,215 |
Ending balance, shares at Dec. 31, 2012 | ' | 13,673,160 | 0 | ' | ' | ' | ' |
Stock compensation expense recognized | 538,643 | 0 | 0 | 0 | 538,643 | 0 | 0 |
Issued for cash, net of stock issue costs | 29,445,111 | 12,363 | 0 | 0 | 29,432,748 | 0 | 0 |
Issued for cash, net of stock issue costs, Shares | ' | 12,362,436 | 0 | ' | ' | ' | ' |
Issued for cash — exercise of stock options, shares | 8,803 | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustment | 0 | ' | ' | ' | ' | ' | ' |
Derivative liability reclassificaton (See Note 8) | 7,473,108 | 0 | 0 | 0 | 7,473,108 | 0 | 0 |
Net loss | -20,844,155 | 0 | 0 | 0 | 0 | 0 | -20,844,155 |
Ending balance at Dec. 31, 2013 | $23,464,487 | $26,036 | $0 | $1,083,193 | $155,953,894 | ($1,133,266) | ($132,465,370) |
Ending balance, shares at Dec. 31, 2013 | ' | 26,035,596 | 0 | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | 169 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Operating activities | ' | ' | ' |
Net loss | ($20,844,155) | ($10,908,727) | ($132,465,370) |
Adjustments to reconcile net loss to net cash used in operating activities | ' | ' | ' |
Amortization and depreciation | 197,743 | 411,621 | 4,871,973 |
Accretion on preferred stock | 0 | 0 | 1,475,853 |
Non-cash stock-based compensation expense | 538,643 | 3,210 | 1,657,795 |
Gain on settlement of preferred stock | 0 | 0 | -1,562,689 |
Loss on disposal of property and equipment | 126,633 | 83,077 | 898,719 |
Non-cash derivative instrument charge | 7,473,108 | 0 | 7,473,108 |
Non-cash financing costs | 74,752 | 4,193,438 | 4,771,178 |
Changes in operating assets and liabilities | ' | ' | ' |
Other receivables | 586,792 | -782,599 | -1,413,565 |
Prepaid expenses and deposits | -343,190 | -102,076 | -491,465 |
Restricted cash | -250,049 | 0 | -250,049 |
Other current assets | -468,389 | 0 | -468,389 |
Other assets | 25,056 | -47,220 | -80,749 |
Accounts payable | 492,332 | 198,156 | 1,192,193 |
Accrued liabilities | 439,075 | 290,605 | 1,643,005 |
Deferred rent liability | 53,084 | 0 | 53,084 |
Deferred revenue | -561,086 | 1,692,308 | 1,131,222 |
Cash used in operating activities | -12,459,651 | -4,968,207 | -111,564,146 |
Investing activities | ' | ' | ' |
Purchase of property and equipment | -92,523 | -35,752 | -7,430,521 |
Proceeds on disposals of property and equipment | 51,776 | 61,918 | 447,164 |
Cash (used in) provided by investing activities | -40,747 | 26,166 | -6,983,357 |
Financing activities | ' | ' | ' |
Proceeds from issuance of common stock and on options exercised | 32,520,974 | 6,763,043 | 41,036,255 |
Proceeds from issuance of warrants and warrant derivatives | 0 | 242 | 500 |
Proceeds from issuance of preferred stock | 0 | 0 | 102,157,702 |
Payment of share issuance costs | -3,079,611 | -837,280 | -4,971,345 |
Proceeds from loans payable | 0 | 5,423,390 | 17,898,295 |
Repayments of capital lease obligation | 0 | 0 | -163,242 |
Repayments of loans payable | -3,000,000 | 0 | -12,735,054 |
Cash provided by financing activities | 26,441,363 | 11,349,395 | 143,223,111 |
Effect of foreign exchange rate changes | 543 | 13,876 | -1,086,092 |
Net change in cash | 13,941,508 | 6,421,230 | 23,589,516 |
Cash and cash equivalents, beginning of period | 9,648,008 | 3,226,778 | 0 |
Cash and cash equivalents, end of period | 23,589,516 | 9,648,008 | 23,589,516 |
Supplemental disclosure of cash flow information | ' | ' | ' |
Interest paid | 79,388 | 63,566 | 1,123,204 |
Income taxes paid | 0 | 71,851 | 172,451 |
Property and equipment purchased under capital lease | 0 | 0 | 449,744 |
Preferred stock issued on conversion of debt | 0 | 0 | 5,337,417 |
Common Stock [Member] | ' | ' | ' |
Supplemental disclosure of cash flow information | ' | ' | ' |
Common stock issued on conversion of debt | $0 | $6,842,144 | $6,842,144 |
Nature_of_Business_and_Liquidi
Nature of Business and Liquidity | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Nature of Operations [Text Block] | ' |
1. Nature of Business and Liquidity | |
Celator Pharmaceuticals, Inc. (“CPI” or the “Company”), with locations in Ewing, N.J., and Vancouver, B.C., is a pharmaceutical company developing new and more effective therapies to treat cancer. CombiPlex®, the Company’s proprietary drug ratio technology platform, represents a novel approach that identifies molar ratios of drugs that will deliver a synergistic benefit, and locks the desired ratio in a nano-scale drug delivery vehicle that maintains the ratio in patients with the goal of improving clinical outcomes. | |
The Company has incurred recurring losses and negative cash flows from operations since inception. As of December 31, 2013, the Company had an accumulated deficit of $132,465,370. The Company expects operating losses and negative cash flows to continue for the foreseeable future until such time, if ever, that it can generate significant revenues from its product candidates currently in development. At December 31, 2013, the Company had cash and cash equivalents of $23,589,516. Management believes that the cash and cash equivalents at December 31, 2013 will be sufficient to meet estimated working capital requirements and fund planned operations into the second quarter of 2015. Substantial additional financing will be needed by the Company to fund its operations and to commercially develop its product candidates. | |
The Company is subject to those risks associated with any specialty pharmaceutical company that has substantial expenditures for research and development. There can be no assurance that the Company’s research and development projects will be successful, that products developed will obtain necessary regulatory approval, or that any approved product will be commercially viable. In addition, the Company operates in an environment of rapid technological change and is largely dependent on the services of its employees and consultants. | |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||
Significant Accounting Policies [Text Block] | ' | ||||||||||||||||
2. Summary of Significant Accounting Policies | |||||||||||||||||
The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and are presented in U.S. dollars. The following is a summary of significant accounting policies used in the preparation of these consolidated financial statements. | |||||||||||||||||
Basis of consolidation: The consolidated financial statements include the accounts of CPI and its wholly-owned subsidiaries, Celator Pharmaceutical Corp. (“CPC”) and Celator UK Ltd. All intercompany transactions have been eliminated. | |||||||||||||||||
Use of estimates: The preparation of the consolidated 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 the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. Actual results may differ from those estimates. Significant areas requiring management estimates in the preparation of these consolidated financial statements include, amongst other things, assessment of other receivables, accrued liabilities, impairment and amortization of property and equipment, valuation allowance for deferred income taxes, valuation of stock-based compensation, warrants and contingencies. | |||||||||||||||||
Foreign currency translation and transactions: The functional currency of the Company and its foreign subsidiary is the U.S. dollar. As such, monetary assets and liabilities of the Company’s operation denominated in a currency other than the U.S. dollar are translated into U.S. dollars at the exchange rate prevailing as at the balance sheet date. Non-monetary assets and liabilities are translated at historical exchange rates prevailing at each transaction date. Expenses are translated at the average exchange rates prevailing during the year, with the exception of amortization which is translated at historical cash and cash equivalents exchange rates. Exchange gains and losses on translation are included in operations. | |||||||||||||||||
Cash and cash equivalents: The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. The carrying amount of cash equivalents approximates its fair value due to its short-term nature. The Company had $7,597,730 in short-term money market accounts and $15,003,472 in certificates of deposit as of December 31, 2013. | |||||||||||||||||
Property and equipment: Property and equipment are recorded at cost and depreciated over their estimated useful lives using the straight-line depreciation method as follows: | |||||||||||||||||
Computer equipment | 4 years | ||||||||||||||||
Furniture and office equipment | 7 years | ||||||||||||||||
Laboratory equipment | 10 years | ||||||||||||||||
Capital lease equipment and Leasehold improvements | Lesser of useful life or term of lease | ||||||||||||||||
Upon retirement or sale, the cost of assets disposed of and the related accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in operations. The Company reviews property and equipment to assess recoverability from future operations whenever events and circumstances indicate that the carrying value may not be recoverable. Impairment losses are recognized in operating results when expected undiscounted future cash flows are less than the carrying value of the assets used or disposed of by sale. If impairment is indicated, the asset value is written down to its fair value. | |||||||||||||||||
Research and development: Research and development expenses include costs directly attributable to the conduct of research and development programs, including the cost of salaries, payroll taxes, employee benefits, materials, supplies, maintenance of research equipment, costs related to research collaboration and licensing agreements, the cost of services provided by outside contractors, including services related to the Company’s clinical trials, clinical trial expenses, the full cost of manufacturing drug for use in research, preclinical development, and clinical trials. All costs associated with research and development are expensed as incurred. | |||||||||||||||||
Research collaboration funding: The Company has research and development agreements where the Company receives funding when it achieves certain agreed upon milestones such as meeting clinical trial objectives or patient enrollment. In accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 605-28-25-2, Milestone Method-Recognition milestones considered substantive and that related solely to past Company performance and do not have any remaining deliverables associated with them are recognized as revenue when earned. Income derived from these arrangements is shown gross of research and development expenses on the consolidated statement of loss and comprehensive loss. | |||||||||||||||||
Stock-based compensation: Stock based compensation transactions are recognized as compensation expense in the consolidated statement of loss and comprehensive loss based on their fair values on the date of the grant, with the compensation expense recognized over the period in which a grantee is required to provide service in exchange for the award. The Company estimates the fair value of options granted using the Black-Scholes option valuation model. This estimate uses assumptions regarding a number of inputs that required the Company to make significant estimates and judgments. Because the Company is a relatively new publicly traded common stock the expected volatility assumption was based on industry peer information. | |||||||||||||||||
Warrants: The estimated fair value of warrants is determined by using the Black-Scholes pricing model with assumptions for risk free interest rates, dividend yields, volatility factors and the contractual life of the warrants. | |||||||||||||||||
Loss per share: Income (loss) per share is computed using the weighted average number of common shares outstanding during the year. Diluted earnings per share would be calculated, if the Company had positive net earnings, to give effect to the potential dilution that if secured or other contracts to issue common stock were exercised or converted to common stock using the treasury stock method. The treasury stock method assumes that proceeds received from the exercise of stock options and warrants are used to repurchase common stock at the prevailing market rate. | |||||||||||||||||
The net loss per share for the year ended December 31, 2012 has been corrected for an immaterial error in the calculation of average weighted shares outstanding. The revision is as follows: | |||||||||||||||||
As Reported | As Revised | ||||||||||||||||
Net loss | $ | (10,908,727 | ) | $ | (10,908,727 | ) | |||||||||||
Net loss per share | $ | (1.30 | ) | $ | (0.88 | ) | |||||||||||
Weighted average shares outstanding | 8,406,104 | 12,361,163 | |||||||||||||||
The above correction has no impact on any other prior year financial statement amounts or disclosures. | |||||||||||||||||
Income taxes: The Company accounts for income taxes using ASC 740 Income Taxes. ASC 740 Income Taxes is an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company’s financial statements or tax returns. In estimating future tax consequences, ASC 740 generally considers all expected future events other than enactments of and changes in the tax law or rates. The measurement of deferred tax assets is reduced, if necessary, by the amount of any tax benefits that, based on available evidence, are not expected to be realized. Valuation allowances are provided if, considering available evidence, it is more likely than not that the deferred tax assets will not be realized. ASC 740 clarifies the criteria that must be met prior to recognition of the financial statement benefit of a position taken in a tax return. ASC 740 provides a benefit recognition model with a two-step approach consisting of “more-likely-than-not” recognition criteria, and a measurement attribute that measures a given tax position as the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement. ASC 740 also requires the recognition of liabilities created by differences between tax positions taken in a tax return and amounts recognized in the financial statements. | |||||||||||||||||
Investment tax credits relating to scientific research and experimental development are accounted for in operations. To the extent there is reasonable assurance the credits will be realized, they are recorded in the period the related expenditure is made as a reduction of current operating expenses (tax recovery). Fair value of financial instruments: The carrying values of certain Company’s financial instruments, including cash equivalents, restricted cash, other receivables, accounts payable and loans payable approximate fair value due to their short maturities. | |||||||||||||||||
ASC 820 Fair Value Measurements defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability. | |||||||||||||||||
ASC 820 establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820-10 establishes three levels of inputs that may be used to measure fair value: | |||||||||||||||||
Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. | |||||||||||||||||
Level 2 applies to assets or liabilities for which there are inputs, other than quoted prices included within Level 1, that are observable for the asset or liability, such as: quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. | |||||||||||||||||
ASC 820, Fair Value Measurements requires disclosures about transfers into and out of Levels 1 and 2 and separate disclosures about purchases, sales, issuances, and settlements relating to Level 3 measurements. It also clarifies existing fair value disclosures regarding the level of disaggregation and the inputs and valuation techniques used to measure fair value. | |||||||||||||||||
The Company recognizes transfers between input levels as of the actual date of event. There were no transfers between levels and the following table provides the assets carried at fair value: | |||||||||||||||||
Fair Value | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
31-Dec-13 | |||||||||||||||||
Assets: | |||||||||||||||||
Certificates of Deposit | $ | 15,003,472 | $ | 15,003,472 | $ | — | $ | — | |||||||||
Money Market Fund | 7,597,730 | 7,597,730 | — | — | |||||||||||||
Total | $ | 22,601,202 | $ | 22,601,202 | $ | — | $ | — | |||||||||
31-Dec-12 | |||||||||||||||||
Assets: | |||||||||||||||||
Money Market Fund | $ | 9,107,500 | $ | 9,107,500 | $ | — | $ | — | |||||||||
The reconciliation of the warrant liability measured at fair value on a recurring basis using unobservable inputs (Level 3) is as follows: | |||||||||||||||||
Balance at January 1, 2012 | $ | 549,317 | |||||||||||||||
Additions | 513,809 | ||||||||||||||||
Reclassification to equity | (1,063,126 | ) | |||||||||||||||
Balance at December 31, 2012 | $ | — | |||||||||||||||
Segment reporting: The Company operates within one reportable segment and presents geographic results of its United States and Canadian operations. Intersegment transactions and balances have been eliminated in the preparation of the segmental analysis note. | |||||||||||||||||
New Accounting Pronouncement Adopted: In July 2012, FASB issued amendments to accounting guidance relating to the testing of indefinite-lived intangible assets for impairment. The new guidance, effective for annual and interim impairment tests of indefinite-lived intangible assets performed for fiscal years beginning after September 15, 2012, provides an entity with the option to make a qualitative assessment about the likelihood that an indefinite-lived intangible asset is impaired to determine whether it should perform a quantitative impairment test. The amendments also enhance the consistency of impairment testing guidance among long-lived asset categories by permitting an entity to assess qualitative factors to determine whether it is necessary to calculate the asset’s fair value when testing an indefinite-lived intangible asset for impairment, which is equivalent to the impairment testing requirements for other long-lived assets. The adoption of this amended accounting guidance did not have a material impact on the Company’s consolidated financial position and results of operations. | |||||||||||||||||
New Accounting Pronouncement Not Yet Effective: In March 2013, FASB issued an amendment to the accounting guidance on foreign currency matters in order to clarify the guidance for the release of cumulative translation adjustments. The guidance is effective for interim and annual periods beginning on or after December 15, 2013. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial statements. | |||||||||||||||||
Other_Receivables
Other Receivables | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Text Block [Abstract] | ' | ||||||||
Other Receivable [Text Block] | ' | ||||||||
3. Other Receivables | |||||||||
Other receivables as of December 31, 2013 and 2012, consists of the following: | |||||||||
2013 | 2012 | ||||||||
Receivables related to the sale of New Jersey net operating losses | $ | 1,412,302 | $ | 1,363,559 | |||||
Receivables related to value added tax recovery | — | 95,910 | |||||||
Receivables related to the Leukemia & Lymphoma Society funding | — | 500,000 | |||||||
Other receivables | 5,011 | 40,888 | |||||||
$ | 1,417,313 | $ | 2,000,357 | ||||||
Other_Current_Assets
Other Current Assets | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ' | ||||||||
Other Current Assets [Text Block] | ' | ||||||||
4. Other Current Assets | |||||||||
Other current assets as of December 31, 2013 and December 31, 2012 consist of the following: | |||||||||
2013 | 2012 | ||||||||
Clinical trial materials | $ | 468,389 | $ | — | |||||
Property_and_Equipment
Property and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Property Plant And Equipment Disclosure [Text Block] | ' | ||||||||
5. Property and Equipment | |||||||||
Property and equipment as of December 31, 2013 and 2012, including assets held under capital lease, consists of the following: | |||||||||
2013 | 2012 | ||||||||
Computer and equipment | $ | 136,498 | $ | 103,858 | |||||
Furniture and office equipment | 96,457 | 145,499 | |||||||
Laboratory equipment | 1,760,633 | 1,779,188 | |||||||
Capital lease equipment | 155,523 | 155,520 | |||||||
Leaseholds | 37,789 | 73,060 | |||||||
2,186,900 | 2,257,125 | ||||||||
Less: Accumulated depreciation | (1,048,321 | ) | (1,012,100 | ) | |||||
$ | 1,138,579 | $ | 1,245,025 | ||||||
During the years ended December 31, 2013 and 2012, depreciation and amortization expense was $197,743, and $411,621 respectively. The depreciation expense for the year ended December 31, 2012 included an impairment loss of 78,758. | |||||||||
During 2013 and 2012, assets with a net book value of $177,827 and $144,995 were sold for proceeds of $51,776 and $61,918, resulting in a loss on disposal of $126,051 and $83,077, respectively. During the year ended December 31, 2013, the also Company wrote off other property and equipment and incurred a loss of $582. | |||||||||
In February 2012, the Company closed a laboratory and consigned certain property and equipment for sale with net book value of $507,622. At December 31, 2013 and 2012, the net book values of the remaining consigned equipment were $74,086 and $251,269, respectively, and consisted solely of scientific equipment which is presented as assets held for sale on the consolidated balance sheet. | |||||||||
Accrued_Liabilities
Accrued Liabilities | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Payables And Accruals [Abstract] | ' | ||||||||
Accounts Payable And Accrued Liabilities Disclosure [Text Block] | ' | ||||||||
6. Accrued Liabilities | |||||||||
Accrued liabilities as of December 31, 2013 and 2012, consists of the following: | |||||||||
2013 | 2012 | ||||||||
Accrued bonuses | $ | 624,472 | $ | 458,177 | |||||
Accrued salaries and vacation | 143,484 | 198,817 | |||||||
Accrued professional fees | 30,911 | 265,802 | |||||||
Accrued clinical trial expenses | 636,497 | 188,057 | |||||||
Accrued other | 195,445 | 84,145 | |||||||
$ | 1,630,809 | $ | 1,194,998 | ||||||
Loans_Payable
Loans Payable | 12 Months Ended |
Dec. 31, 2013 | |
Debt Disclosure [Abstract] | ' |
Loans Payable [Text Block] | ' |
7. Loans Payable | |
Bank Loan | |
In June 2012, the Company entered in to a Loan and Security Agreement with a bank under which the Company could draw up to $3,000,000 until December 15, 2012. In June 2012, the Company borrowed $1,000,000 and in August 2012, the Company borrowed the remaining available balance of $2,000,000. The loan had interest at a rate of 5.5%, with interest only payable for the first six months until December 15, 2012, after which monthly payments of principal and interest were due for a thirty month period. | |
In connection with the loan, the Company issued warrants to purchase 17,267 shares of common stock at an exercise price of $5.21 per share. The estimated fair value of the warrants of $10,487 was expensed to non-cash financing costs with a corresponding credit to warrants. The Company estimated the fair value of the warrants using the Black Scholes model with a risk-free rate of 0.5%, dividend yield of 0%, volatility of 88% and a contractual life of 7 years. | |
The Company repaid the loan’s remaining outstanding principle and interest in June 2013. | |
Related Party Loan | |
In December 2011, certain of the Company’s existing investors purchased $2,576,610 of Convertible Promissory Notes (the “Notes”) pursuant to a Note and Warrant Purchase Agreement (the “Note Agreement”) under which $2,423,390 of additional Notes could be purchased for a total $5,000,000. The Notes bore interest at 8% compound annually and were due upon the earlier of a) a Sale Transaction (as defined in the Note Agreement), b) a liquidation or winding up of the Company or c) on demand of the holders of at least a majority of the principal amount outstanding under the Notes made any time after July 1, 2012. The Notes and accrued interest automatically convert upon a Qualified Financing (as defined in the Note Agreement) at a conversion price equal to the price per share of the securities sold in the Qualified Financing. Prior to a Qualified Financing, the Notes and accrued interest were convertible into shares of the Company’s previously outstanding Series D Preferred Stock (“Series D”) at $5.21 per share upon written notice of holders of at least a majority of the principal outstanding under the Notes. | |
The Company issued warrants to purchase 123,585 shares of Series D at $5.21 per share with a contractual life of 7 years in connection with the December 2011 Note purchase. The estimated fair value of the warrants of $549,317 was recorded as an original issue discount that was netted against the carrying value of the Notes and was amortized to interest expense using the effective interest method. During 2011, the Company recognized $68,655 of interest expense. Upon a Qualified Financing, the number and exercise price of the warrants would be adjusted based on the price of the securities sold in the Qualified Financing such that the fair value of the adjusted warrant would equal the fair value of the original warrant. Given the warrants were adjustable for a variable number of equity instruments for a fixed monetary amount, the warrants were initially recorded as a liability based on ASC Topic 480: Distinguishing Liabilities from Equity. | |
Under the Note Agreement, a portion of the remaining Notes were considered Preference Notes that contained the same terms and conditions as the Notes, but provided that in addition to the repayment of the outstanding principal, an additional return payment of four times the original principal balance of the Preference Note was required. During 2012, investors purchased the remaining $2,423,390 of Notes, of which $423,390 were Preference Notes. In conjunction with the purchase of the remaining Notes in 2012, the Company issued an additional 116,236 warrants with the same terms as the December 2011 warrants which had an estimated fair value of $513,809 which was recorded as original issue discount. | |
In August 2012, immediately prior to the closing of the Company’s private placement of common stock, the $5,000,000 of Notes and accrued interest of $148,584 were converted into 915,304 shares of common stock using the conversion price of $5.625 per share which was equal to the common stock offering price in the private placement. The four time additional return on the Preference Notes of $1,693,560 was converted into 324,912 shares of common stock using a conversion price of $5.21 per share per the Omnibus Agreement, which was lower than the common stock offering price in the private placement. The four time additional return of $1,693,560 was recorded as additional interest expense. In addition, the Company recorded $994,471 of interest expense during 2012 for amortization of the remaining original issue discount. | |
After considering the allocation of the gross proceeds between the fair value of the warrants and the Notes, the Notes contained a contingent beneficial conversion option as the effective conversion price of the Notes was below the price paid by new investors in the private placement. The value of the contingent beneficial conversion option of $1,221,452 was recorded as additional interest expense with a corresponding increase to additional paid in capital. In addition, an incremental beneficial conversion option of $134,071 was recorded as the four time additional return on Preference Notes converted at a lower price per share than was used for the Notes which was recorded as additional interest expense with a corresponding increase to additional paid in capital. | |
Upon the conversion of the Notes into common stock, the $1,063,126 carrying value of the warrants (which became warrants to purchase common stock) were reclassified from a liability to stockholders’ equity as the number of shares exercisable under the warrants became fixed and no longer subject to adjustment for a fixed monetary amount. | |
Stockholders_Equity
Stockholders' Equity | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Stockholders Equity Note Disclosure [Text Block] | ' | ||||||||||||
8. Stockholders’ Equity | |||||||||||||
Private Placement | |||||||||||||
In August 2012, the Company commenced a private placement of its common stock and through the balance of 2012 sold 1,202,276 shares of common stock at $5.625 per share resulting in net proceeds of $5,925,265 after deduction issuance costs of $837,280. | |||||||||||||
On April 29, 2013, the Company entered into a securities purchase agreement and subscription agreements with certain accredited investors for the issuance and sale in the final round of a private placement of 10,430,034 shares of common stock, which the Company sold at a price of $3.116 per share for aggregate gross proceeds of $32,499,986. Warrants to purchase 0.28 shares of common stock at $3.58 per share were issued for each share of common stock purchased. The net proceeds totaled $29,420,375 for this financing. | |||||||||||||
In connection with this final closing of the financing, 1,923,599 shares of common stock and 161,327 warrants to purchase shares of common stock at $5.21 and 1,056,898 warrants to purchase shares of common stock at $3.58 per share were issued to certain existing stockholders of the Company who participated in earlier closings of this financing. The fair value of these common shares and warrants was recognized as a derivative liability with a corresponding charge to the statement of loss. The derivative liability was fair valued at $7,473,108 and the fair value was measured using significant unobservable inputs (Level 3). Upon the final closing of the April 2013 private placement, the derivative liability was reclassified into stockholders’ equity as the obligation to issue additional securities no longer existed. | |||||||||||||
Warrants | |||||||||||||
The following table summarizes the warrants outstanding to purchase common stock at December 31, 2013: | |||||||||||||
Issue date | Number of warrants | Exercise price | Term | ||||||||||
Mar-09 | 12,445 | $ | 11.25 | 7 years | |||||||||
Dec-11 | 123,585 | $ | 5.21 | 7 years | |||||||||
Feb-12 | 3,700 | $ | 5.21 | 6 years | |||||||||
Jun-12 | 17,267 | $ | 5.21 | 7 years | |||||||||
Aug-12 | 112,536 | $ | 5.21 | 7 years | |||||||||
Apr-13 | 161,327 | $ | 5.21 | 7 years | |||||||||
Apr-13 | 3,977,290 | $ | 3.58 | 7 years | |||||||||
4,408,150 | |||||||||||||
Stock_Based_Compensation
Stock Based Compensation | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||||||||||||||
9. Stock Based Compensation | |||||||||||||||||||||
2013 Equity Incentive Plan | |||||||||||||||||||||
In 2013, the Company adopted the Celator Pharmaceuticals, Inc. 2013 Equity Incentive Plan (the “Plan”) that authorizes the granting of up to 2,460,546 shares of common stock. The Plan became effective May 22, 2013. At December 31, 2013, 680,279 stock options remain available to be granted. The Company has reserved shares of its common stock to permit exercise of options in accordance with the terms of the Plan. | |||||||||||||||||||||
Options granted under the Plan may be incentive stock options or non-qualified stock options. Incentive stock options may only be granted to employees. The board of directors, or a committee of the board of directors appointed to administer the Plan, determines the period over which options become exercisable and the conditions under which stock awards are granted and become vested. | |||||||||||||||||||||
The following table summarizes the activity of the Company’s stock option plans for the years ended December 31, 2013 and 2012: | |||||||||||||||||||||
Number of options | Exercise | ||||||||||||||||||||
price | |||||||||||||||||||||
1-Jan-12 | 992,629 | $ | 2.57 | ||||||||||||||||||
Granted | — | — | |||||||||||||||||||
Exercised | (107 | ) | 2.25 | ||||||||||||||||||
Cancelled | (185,734 | ) | 2.74 | ||||||||||||||||||
31-Dec-12 | 806,788 | $ | 2.52 | ||||||||||||||||||
Granted | 1,864,559 | 3.18 | |||||||||||||||||||
Exercised | (8,803 | ) | 2.81 | ||||||||||||||||||
Cancelled | (84,292 | ) | 2.98 | ||||||||||||||||||
31-Dec-13 | 2,578,252 | $ | 2.98 | ||||||||||||||||||
Exercisable at December 31, 2013 | 768,049 | $ | 2.51 | ||||||||||||||||||
The following table summarizes stock options outstanding as of December 31, 2013: | |||||||||||||||||||||
Range of exercise price | Number outstanding | Average exercise price | Remaining contractual life (years) | Number exercisable | Average exercise price | ||||||||||||||||
$1.00 – $2.00 | 11,630 | $ | 1.12 | 6.7 | 9,692 | $ | 1.12 | ||||||||||||||
2.01 – 3.00 | 623,714 | 2.34 | 1.2 | 623,714 | 2.34 | ||||||||||||||||
3.01 – 4.00 | 1,942,908 | 3.2 | 7.5 | 134,643 | 3.37 | ||||||||||||||||
2,578,252 | 2.98 | 4.2 | 768,049 | 2.51 | |||||||||||||||||
A summary of unvested awards activity during the year ended December 31, 2013 is as follows: | |||||||||||||||||||||
Number | Grant date | ||||||||||||||||||||
fair value | |||||||||||||||||||||
1-Jan-13 | 14,251 | $ | 14,752 | ||||||||||||||||||
Granted | 1,864,559 | 4,266,120 | |||||||||||||||||||
Vested | (12,226 | ) | (14,303 | ) | |||||||||||||||||
Forfeited | (56,381 | ) | (120,054 | ) | |||||||||||||||||
31-Dec-13 | 1,810,203 | $ | 4,146,515 | ||||||||||||||||||
The following table provides information regarding stock options activity for the year ended December 31, 2013 and 2012: | |||||||||||||||||||||
Year ended December 31, | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Stock compensation expense recognized | $ | 538,643 | $ | 3,210 | |||||||||||||||||
Weighted average grant-date fair value of stock options issued | $ | 2.29 | $ | — | |||||||||||||||||
(per share) | |||||||||||||||||||||
Grant-date fair value of stock options issued | $ | 4,266,120 | $ | — | |||||||||||||||||
Volatility | 117.7 | % | — | ||||||||||||||||||
Risk-free interest rate | 1.9 | % | — | ||||||||||||||||||
Dividend yield | 0 | % | — | ||||||||||||||||||
Expected life in years | 6.2 | — | |||||||||||||||||||
The grant-date fair value of stock options is estimated using the Black Scholes option pricing model. The Company determined the options’ life based on the simplified method and determined the options’ expected volatility based on peer group volatility and dividend yield based on the historical dividend payments. The risk free interest rate is based on the yield of an applicable term Treasury instrument. | |||||||||||||||||||||
The Company amortizes the fair value of the stock options on a straight-line basis over the applicable requisite service periods of the awards, which is generally the vesting period. At December 31, 2013, the total compensation cost related to non-vested awards not yet recognized and weighted average period over which it will be recognized was $3,646,664 and 3.4 years, respectively. | |||||||||||||||||||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Income Tax Disclosure [Text Block] | ' | ||||||||
10. Income Taxes | |||||||||
Loss before income taxes consisted of the following: | |||||||||
Year ended December 31, | |||||||||
2013 | 2012 | ||||||||
Domestic | $ | (20,038,881 | ) | $ | (10,035,313 | ) | |||
Foreign | (2,217,576 | ) | (2,236,973 | ) | |||||
Total | $ | (22,256,457 | ) | $ | (12,272,286 | ) | |||
A reconciliation of the Statutory United States federal income tax rate to the Company’s effective rate and for December 31, 2013 and 2012 is as follows: | |||||||||
Year ended December 31, | |||||||||
2013 | 2012 | ||||||||
Loss before income taxes | $ | (22,256,457 | ) | $ | (12,272,286 | ) | |||
Federal rate | 34 | % | 34 | % | |||||
US Federal statutory tax rate | 7,567,195 | 4,172,577 | |||||||
State, net of federal rate | 487,083 | 613,614 | |||||||
Permanent differences | (2,548,770 | ) | (1,344,421 | ) | |||||
Research and development tax credits | 72,377 | (3,559,200 | ) | ||||||
Other | (113,803 | ) | 321,181 | ||||||
Changes to valuation allowances | (4,051,780 | ) | 1,159,808 | ||||||
$ | 1,412,302 | $ | 1,363,559 | ||||||
In 2013 and 2012, the Company was approved to sell New Jersey net operating loss carryforwards (“NOLS”) under the New Jersey Technology Business Tax Certificate Transfer Program, which resulted in the recognition of an income tax benefit of $1,412,302 and $1,363,559, respectively. | |||||||||
Deferred income taxes reflect the tax effects of temporary differences between the basis of assets and liabilities recognized for financial reporting purposes and tax purposes, and net operating loss and tax credit carry forwards. Significant components of the Company’s total deferred tax asset as of December 31, 2013 and 2012 are as follows: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Net operating loss carry forwards | $ | 38,619,755 | $ | 35,362,944 | |||||
Research and development loss pool carry forwards | 3,865,195 | 3,884,379 | |||||||
Deferred revenue | 384,615 | — | |||||||
Accrued expenses and other | 287,272 | (373,883 | ) | ||||||
Stock based compensation | 529,645 | 361,878 | |||||||
Property and equipment | (366,186 | ) | (19,995 | ) | |||||
R&D and investment tax credit carry forwards | 494,523 | 547,716 | |||||||
Deferred tax assets | $ | 43,814,819 | $ | 39,763,039 | |||||
Deferred tax assets valuation allowance | $ | (43,814,819 | ) | $ | (39,763,039 | ) | |||
$ | — | $ | — | ||||||
The valuation allowance at December 31, 2013 and 2012 was primarily related to R&D investment tax credits carryforwards and expenditures, federal and state net operating loss carryforwards that, in the judgment of management, are not more-likely-than-not to be realized. In assessing the realizability of deferred tax assets, management considers whether it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. | |||||||||
At December 31, 2013, the Company had net operating loss carryforwards for Federal income tax purposes of $109,953,867 which are available to offset future Federal taxable income, if any, through 2023. The Company has net operating loss carryforwards for state income tax purposes of $24,709,120 which are available to offset future state taxable income through 2030. | |||||||||
At December 31, 2013 and 2012, the Company had Canadian federal and British Columbia investment tax credits of approximately $494,523 and $524,629 and $0 and $23,087, respectively, available to reduce taxes payable through 2030 and 2022, respectively. The Company has no Canadian tax loss carry forwards. | |||||||||
Geographic_Segment_Information
Geographic Segment Information | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Segment Reporting [Abstract] | ' | ||||||||
Segment Reporting Disclosure [Text Block] | ' | ||||||||
11. Geographic Segment Information | |||||||||
The Company operates in the United States and Canada. The Company’s CPX-351 clinical trial materials are manufactured by a third party using the Company’s equipment located in Germany. Geographic net loss information is based on the location whereby the expenses were incurred. The geographic information about total assets is based on the physical location of the assets. | |||||||||
Total Assets | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
United States | $ | 26,190,516 | $ | 11,578,590 | |||||
Canada | 284,563 | 717,250 | |||||||
Germany | 997,671 | 1,143,104 | |||||||
Total Assets | $ | 27,472,750 | $ | 13,438,944 | |||||
Net Loss | |||||||||
Year ended December 31, | |||||||||
2013 | 2012 | ||||||||
United States | $ | (18,626,579 | ) | $ | (8,671,754 | ) | |||
Canada | (2,217,576 | ) | (2,236,973 | ) | |||||
Total Net Loss | $ | (20,844,155 | ) | $ | (10,908,727 | ) | |||
Leukemia_and_Lymphoma_Society_
Leukemia and Lymphoma Society funding | 12 Months Ended |
Dec. 31, 2013 | |
Research and Development [Abstract] | ' |
Research And Development And License Agreement [Text Block] | ' |
12. Leukemia and Lymphoma Society funding | |
In June 2012, the Company entered into an agreement with the Leukemia & Lymphoma Society (“LLS”) pursuant to which LLS has agreed to provide up to $5.0 million in funding from the LLS Therapy Acceleration Program (“TAP program”) for the Phase 3 clinical study of the Company’s lead compound CPX-351. Upon execution of the agreement, the Company received an upfront payment of $2.0 million and may receive further payments of $3.0 million upon the achievement of clinical milestones. The Company recorded the $2.0 million upfront payment as deferred revenue which will be recognized on a straight-line basis over the estimated performance period of the funding agreement. During the years ended December 31, 2013 and 2012, the Company recognized $561,086 and $307,392, respectively related to the amortization of the upfront payment. The estimated performance period is expected to be complete in January 2016. During 2012, the Company met two separate milestones under the agreement which resulted in the recognition of $1.0 million which was recorded as Leukemia & Lymphoma Society funding of which $500,000 was a receivable as of December 31, 2012. The agreement remains in effect until the completion of the milestones unless earlier terminated in accordance with the provisions in the agreement. The Company may terminate the agreement at any time during its term upon at least 30 days’ prior written notice to LLS or upon written notice to LLS upon the termination of the CPX-351 program. LLS may terminate this agreement upon 90 days prior written notice to the Company. Funding under the agreement is exclusively for use in support of the clinical development activities of the research program. Provided the Company believes the product is safe and effective, the Company has agreed that, for a period of five years following the expiration or termination of the agreement, the Company will take such steps as are commercially reasonable to further the clinical development of the product and to bring the product to practical application for Acute Myeloid Leukemia. | |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Commitments And Contingencies Disclosure [Text Block] | ' | ||||
13. Commitments and Contingencies | |||||
The Company has a worldwide exclusive license agreement with Princeton University dated June 2007 that provides the Company with exclusive rights to some aspects of its nanoparticle polymer technology arising from research sponsored by the Company at Princeton University between 2003 and 2007. These inventions are generally characterized as particulate constructs for release of active agents for medical application. Of the products currently in Celator’s pipeline, only the hydrophobic docetaxel prodrug nanoparticle formulation is subject to this agreement. The Company is obligated to pay a royalty on net sales to Princeton University of a low single-digit percentage if any invention is sold by the Company or a company to which the product covered by the invention was licensed by the Company, which was generated under the exclusive licensing agreement. No royalty or other product/sub-license-related payments have been made to date. The Company is obligated to provide Princeton University a percentage within the range of 45% to 55% of proceeds obtained from a sub-license of the intellectual property to a third party in cases where the Company has not conducted any research or development activities and is solely licensing out the original intellectual property jointly developed by the Company and Princeton University. The Company may terminate the agreement at any time by giving 90 days written notice to Princeton University. Princeton University may terminate the agreement if Company should breach or fail to perform under the agreement, with written notice of default provided by Princeton University to the Company and only if the Company fails to cure the default within 60 days. The Company is obligated under the agreement to provide an annual progress report to Princeton University on any developments of the licensed technology as well as prosecution of the patents covering the technology and the use of commercially reasonable efforts to develop licensed products. | |||||
The Company has a collaborative research agreement dated May 2001 with the British Columbia Cancer Agency (“BCCA”) whereby in consideration for the license and conditional assignment of all Company-sponsored intellectual property to the Company by BCCA, the Company will pay to BCCA a royalty in the low single digits on net sales of royalty-bearing products in territories so long as a valid claim exists for inventions made between June 2000 and June 2005 under the agreement. All obligations relating to the conduct of the research and assignment of intellectual property have been completed. No payments of royalties have been made to date. Either party may terminate the agreement if the other party commits a material breach or default and such breach or default is not reasonably cured within 45 days. | |||||
In consideration of funding by the Leukemia & Lymphoma Society® (“LLS”) and transfer to the Company of any rights LLS may have to any project inventions developed during the term of the agreement, the Company may be required to pay LLS a multiple on the LLS funding, (LLS funding is the $5 million in support of the Phase 3 study in addition to the approximately $4.1 million the Company received in support of the Phase 2 study). Subject to exclusions under the agreement, the Company is obligated to pay LLS an amount equal to 50% of the cash payments the Company receives from out-licenses and transfers of rights to the product or other liquidity event, as defined in the agreement, until LLS has received an amount equal to 1.5 times the amount of funding the Company receives from LLS. The total amount payable by the Company to LLS will not exceed 3.55 times the amount of funding received from LLS, with the specific amount depending on when the payment(s) occur relative to the timing of the research program and product commercialization. The payments may take the form of cash payments or royalties (not to exceed 5% of net sales) but will not exceed the maximum amount referred to in the preceding sentence. | |||||
In February 2013, the Company renewed its office lease agreements for office space in Vancouver, British Columbia, effective April 1, 2013 which expires in June 2016. The remaining minimum lease payments as of December 31, 2013 totaled $167,070. | |||||
In March 2013, the Company entered into an office lease agreement for office space in Ewing, New Jersey, which commenced in June 2013 with a term of sixty months. The remaining minimum lease payments as of December 31, 2013 totaled $632,218. Under the Ewing, New Jersey lease agreement, the Company will be obligated to maintain a letter of credit from a bank with respect to its security deposit obligations in the amount of $200,000 during the first year of the Agreement, which amount will be reduced by $40,000 per year on each of December 1, 2014, 2015, and 2016 and by $60,000 on December 1, 2017. | |||||
Minimum lease payments on all operating leases are as follows: | |||||
Year ending December 31, | |||||
2014 | $ | 205,613 | |||
2015 | 208,872 | ||||
2016 | 177,678 | ||||
2017 | 143,550 | ||||
2018 | 72,372 | ||||
Total | $ | 808,085 | |||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||
Consolidation, Policy [Policy Text Block] | ' | ||||||||||||||||
Basis of consolidation: The consolidated financial statements include the accounts of CPI and its wholly-owned subsidiaries, Celator Pharmaceutical Corp. (“CPC”) and Celator UK Ltd. All intercompany transactions have been eliminated. | |||||||||||||||||
Use of Estimates, Policy [Policy Text Block] | ' | ||||||||||||||||
Use of estimates: The preparation of the consolidated 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 the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. Actual results may differ from those estimates. Significant areas requiring management estimates in the preparation of these consolidated financial statements include, amongst other things, assessment of other receivables, accrued liabilities, impairment and amortization of property and equipment, valuation allowance for deferred income taxes, valuation of stock-based compensation, warrants and contingencies. | |||||||||||||||||
Foreign Currency Transactions and Translations Policy [Policy Text Block] | ' | ||||||||||||||||
Foreign currency translation and transactions: The functional currency of the Company and its foreign subsidiary is the U.S. dollar. As such, monetary assets and liabilities of the Company’s operation denominated in a currency other than the U.S. dollar are translated into U.S. dollars at the exchange rate prevailing as at the balance sheet date. Non-monetary assets and liabilities are translated at historical exchange rates prevailing at each transaction date. Expenses are translated at the average exchange rates prevailing during the year, with the exception of amortization which is translated at historical cash and cash equivalents exchange rates. Exchange gains and losses on translation are included in operations. | |||||||||||||||||
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 when purchased to be cash equivalents. The carrying amount of cash equivalents approximates its fair value due to its short-term nature. The Company had $7,597,730 in short-term money market accounts and $15,003,472 in certificates of deposit as of December 31, 2013. | |||||||||||||||||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | ||||||||||||||||
Property and equipment: Property and equipment are recorded at cost and depreciated over their estimated useful lives using the straight-line depreciation method as follows: | |||||||||||||||||
Computer equipment | 4 years | ||||||||||||||||
Furniture and office equipment | 7 years | ||||||||||||||||
Laboratory equipment | 10 years | ||||||||||||||||
Capital lease equipment and Leasehold improvements | Lesser of useful life or term of lease | ||||||||||||||||
Upon retirement or sale, the cost of assets disposed of and the related accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in operations. The Company reviews property and equipment to assess recoverability from future operations whenever events and circumstances indicate that the carrying value may not be recoverable. Impairment losses are recognized in operating results when expected undiscounted future cash flows are less than the carrying value of the assets used or disposed of by sale. If impairment is indicated, the asset value is written down to its fair value. | |||||||||||||||||
Research and Development Expense, Policy [Policy Text Block] | ' | ||||||||||||||||
Research and development: Research and development expenses include costs directly attributable to the conduct of research and development programs, including the cost of salaries, payroll taxes, employee benefits, materials, supplies, maintenance of research equipment, costs related to research collaboration and licensing agreements, the cost of services provided by outside contractors, including services related to the Company’s clinical trials, clinical trial expenses, the full cost of manufacturing drug for use in research, preclinical development, and clinical trials. All costs associated with research and development are expensed as incurred. | |||||||||||||||||
Collaborative Arrangement, Accounting Policy [Policy Text Block] | ' | ||||||||||||||||
Research collaboration funding: The Company has research and development agreements where the Company receives funding when it achieves certain agreed upon milestones such as meeting clinical trial objectives or patient enrollment. In accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 605-28-25-2, Milestone Method-Recognition milestones considered substantive and that related solely to past Company performance and do not have any remaining deliverables associated with them are recognized as revenue when earned. Income derived from these arrangements is shown gross of research and development expenses on the consolidated statement of loss and comprehensive loss. | |||||||||||||||||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | ||||||||||||||||
Stock-based compensation: Stock based compensation transactions are recognized as compensation expense in the consolidated statement of loss and comprehensive loss based on their fair values on the date of the grant, with the compensation expense recognized over the period in which a grantee is required to provide service in exchange for the award. The Company estimates the fair value of options granted using the Black-Scholes option valuation model. This estimate uses assumptions regarding a number of inputs that required the Company to make significant estimates and judgments. Because the Company is a relatively new publicly traded common stock the expected volatility assumption was based on industry peer information. | |||||||||||||||||
Derivatives, Policy [Policy Text Block] | ' | ||||||||||||||||
Warrants: The estimated fair value of warrants is determined by using the Black-Scholes pricing model with assumptions for risk free interest rates, dividend yields, volatility factors and the contractual life of the warrants. | |||||||||||||||||
Immaterial Error Correction [Policy Text Block] | ' | ||||||||||||||||
Loss per share: Income (loss) per share is computed using the weighted average number of common shares outstanding during the year. Diluted earnings per share would be calculated, if the Company had positive net earnings, to give effect to the potential dilution that if secured or other contracts to issue common stock were exercised or converted to common stock using the treasury stock method. The treasury stock method assumes that proceeds received from the exercise of stock options and warrants are used to repurchase common stock at the prevailing market rate. | |||||||||||||||||
The net loss per share for the year ended December 31, 2012 has been corrected for an immaterial error in the calculation of average weighted shares outstanding. The revision is as follows: | |||||||||||||||||
As Reported | As Revised | ||||||||||||||||
Net loss | $ | (10,908,727 | ) | $ | (10,908,727 | ) | |||||||||||
Net loss per share | $ | (1.30 | ) | $ | (0.88 | ) | |||||||||||
Weighted average shares outstanding | 8,406,104 | 12,361,163 | |||||||||||||||
The above correction has no impact on any other prior year financial statement amounts or disclosures. | |||||||||||||||||
Income Tax, Policy [Policy Text Block] | ' | ||||||||||||||||
Income taxes: The Company accounts for income taxes using ASC 740 Income Taxes. ASC 740 Income Taxes is an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company’s financial statements or tax returns. In estimating future tax consequences, ASC 740 generally considers all expected future events other than enactments of and changes in the tax law or rates. The measurement of deferred tax assets is reduced, if necessary, by the amount of any tax benefits that, based on available evidence, are not expected to be realized. Valuation allowances are provided if, considering available evidence, it is more likely than not that the deferred tax assets will not be realized. ASC 740 clarifies the criteria that must be met prior to recognition of the financial statement benefit of a position taken in a tax return. ASC 740 provides a benefit recognition model with a two-step approach consisting of “more-likely-than-not” recognition criteria, and a measurement attribute that measures a given tax position as the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement. ASC 740 also requires the recognition of liabilities created by differences between tax positions taken in a tax return and amounts recognized in the financial statements. | |||||||||||||||||
Investment tax credits relating to scientific research and experimental development are accounted for in operations. To the extent there is reasonable assurance the credits will be realized, they are recorded in the period the related expenditure is made as a reduction of current operating expenses (tax recovery). | |||||||||||||||||
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' | ||||||||||||||||
Fair value of financial instruments: The carrying values of certain Company’s financial instruments, including cash equivalents, restricted cash, other receivables, accounts payable and loans payable approximate fair value due to their short maturities. | |||||||||||||||||
ASC 820 Fair Value Measurements defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability. | |||||||||||||||||
ASC 820 establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820-10 establishes three levels of inputs that may be used to measure fair value: | |||||||||||||||||
Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. | |||||||||||||||||
Level 2 applies to assets or liabilities for which there are inputs, other than quoted prices included within Level 1, that are observable for the asset or liability, such as: quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. | |||||||||||||||||
ASC 820, Fair Value Measurements requires disclosures about transfers into and out of Levels 1 and 2 and separate disclosures about purchases, sales, issuances, and settlements relating to Level 3 measurements. It also clarifies existing fair value disclosures regarding the level of disaggregation and the inputs and valuation techniques used to measure fair value. | |||||||||||||||||
The Company recognizes transfers between input levels as of the actual date of event. There were no transfers between levels and the following table provides the assets carried at fair value: | |||||||||||||||||
Fair Value | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
31-Dec-13 | |||||||||||||||||
Assets: | |||||||||||||||||
Certificates of Deposit | $ | 15,003,472 | $ | 15,003,472 | $ | — | $ | — | |||||||||
Money Market Fund | 7,597,730 | 7,597,730 | — | — | |||||||||||||
Total | $ | 22,601,202 | $ | 22,601,202 | $ | — | $ | — | |||||||||
31-Dec-12 | |||||||||||||||||
Assets: | |||||||||||||||||
Money Market Fund | $ | 9,107,500 | $ | 9,107,500 | $ | — | $ | — | |||||||||
The reconciliation of the warrant liability measured at fair value on a recurring basis using unobservable inputs (Level 3) is as follows: | |||||||||||||||||
Balance at January 1, 2012 | $ | 549,317 | |||||||||||||||
Additions | 513,809 | ||||||||||||||||
Reclassification to equity | (1,063,126 | ) | |||||||||||||||
Balance at December 31, 2012 | $ | — | |||||||||||||||
Segment Reporting, Policy [Policy Text Block] | ' | ||||||||||||||||
Segment reporting: The Company operates within one reportable segment and presents geographic results of its United States and Canadian operations. Intersegment transactions and balances have been eliminated in the preparation of the segmental analysis note. | |||||||||||||||||
New Accounting Pronouncements, Policy [Policy Text Block] | ' | ||||||||||||||||
New Accounting Pronouncement Adopted: In July 2012, FASB issued amendments to accounting guidance relating to the testing of indefinite-lived intangible assets for impairment. The new guidance, effective for annual and interim impairment tests of indefinite-lived intangible assets performed for fiscal years beginning after September 15, 2012, provides an entity with the option to make a qualitative assessment about the likelihood that an indefinite-lived intangible asset is impaired to determine whether it should perform a quantitative impairment test. The amendments also enhance the consistency of impairment testing guidance among long-lived asset categories by permitting an entity to assess qualitative factors to determine whether it is necessary to calculate the asset’s fair value when testing an indefinite-lived intangible asset for impairment, which is equivalent to the impairment testing requirements for other long-lived assets. The adoption of this amended accounting guidance did not have a material impact on the Company’s consolidated financial position and results of operations. | |||||||||||||||||
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | ' | ||||||||||||||||
New Accounting Pronouncement Not Yet Effective: In March 2013, FASB issued an amendment to the accounting guidance on foreign currency matters in order to clarify the guidance for the release of cumulative translation adjustments. The guidance is effective for interim and annual periods beginning on or after December 15, 2013. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial statements. | |||||||||||||||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||
Schedule Of Finite Lived Assets Estimated UseFul Lives [Table Text Block] | ' | ||||||||||||||||
Property and equipment: Property and equipment are recorded at cost and depreciated over their estimated useful lives using the straight-line depreciation method as follows: | |||||||||||||||||
Computer equipment | 4 years | ||||||||||||||||
Furniture and office equipment | 7 years | ||||||||||||||||
Laboratory equipment | 10 years | ||||||||||||||||
Capital lease equipment and Leasehold improvements | Lesser of useful life or term of lease | ||||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||||||||||
The net loss per share for the year ended December 31, 2012 has been corrected for an immaterial error in the calculation of average weighted shares outstanding. The revision is as follows: | |||||||||||||||||
As Reported | As Revised | ||||||||||||||||
Net loss | $ | (10,908,727 | ) | $ | (10,908,727 | ) | |||||||||||
Net loss per share | $ | (1.30 | ) | $ | (0.88 | ) | |||||||||||
Weighted average shares outstanding | 8,406,104 | 12,361,163 | |||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||||
the following table provides the assets carried at fair value: | |||||||||||||||||
Fair Value | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
31-Dec-13 | |||||||||||||||||
Assets: | |||||||||||||||||
Certificates of Deposit | $ | 15,003,472 | $ | 15,003,472 | $ | — | $ | — | |||||||||
Money Market Fund | 7,597,730 | 7,597,730 | — | — | |||||||||||||
Total | $ | 22,601,202 | $ | 22,601,202 | $ | — | $ | — | |||||||||
31-Dec-12 | |||||||||||||||||
Assets: | |||||||||||||||||
Money Market Fund | $ | 9,107,500 | $ | 9,107,500 | $ | — | $ | — | |||||||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | ||||||||||||||||
The reconciliation of the warrant liability measured at fair value on a recurring basis using unobservable inputs (Level 3) is as follows: | |||||||||||||||||
Balance at January 1, 2012 | $ | 549,317 | |||||||||||||||
Additions | 513,809 | ||||||||||||||||
Reclassification to equity | (1,063,126 | ) | |||||||||||||||
Balance at December 31, 2012 | $ | — | |||||||||||||||
Other_Receivables_Tables
Other Receivables (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Text Block [Abstract] | ' | ||||||||
Schedule Of Other Receivables And Other Assets [Table Text Block] | ' | ||||||||
Other receivables as of December 31, 2013 and 2012, consists of the following: | |||||||||
2013 | 2012 | ||||||||
Receivables related to the sale of New Jersey net operating losses | $ | 1,412,302 | $ | 1,363,559 | |||||
Receivables related to value added tax recovery | — | 95,910 | |||||||
Receivables related to the Leukemia & Lymphoma Society funding | — | 500,000 | |||||||
Other receivables | 5,011 | 40,888 | |||||||
$ | 1,417,313 | $ | 2,000,357 | ||||||
Other_Current_Assets_Tables
Other Current Assets (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ' | ||||||||
Schedule of Other Current Assets [Table Text Block] | ' | ||||||||
Other current assets as of December 31, 2013 and December 31, 2012 consist of the following: | |||||||||
2013 | 2012 | ||||||||
Clinical trial materials | $ | 468,389 | $ | — | |||||
Property_and_Equipment_Tables
Property and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||
Property and equipment as of December 31, 2013 and 2012, including assets held under capital lease, consists of the following: | |||||||||
2013 | 2012 | ||||||||
Computer and equipment | $ | 136,498 | $ | 103,858 | |||||
Furniture and office equipment | 96,457 | 145,499 | |||||||
Laboratory equipment | 1,760,633 | 1,779,188 | |||||||
Capital lease equipment | 155,523 | 155,520 | |||||||
Leaseholds | 37,789 | 73,060 | |||||||
2,186,900 | 2,257,125 | ||||||||
Less: Accumulated depreciation | (1,048,321 | ) | (1,012,100 | ) | |||||
$ | 1,138,579 | $ | 1,245,025 | ||||||
Accrued_Liabilities_Tables
Accrued Liabilities (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Payables And Accruals [Abstract] | ' | ||||||||
Schedule of Accrued Liabilities [Table Text Block] | ' | ||||||||
Accrued liabilities as of December 31, 2013 and 2012, consists of the following: | |||||||||
2013 | 2012 | ||||||||
Accrued bonuses | $ | 624,472 | $ | 458,177 | |||||
Accrued salaries and vacation | 143,484 | 198,817 | |||||||
Accrued professional fees | 30,911 | 265,802 | |||||||
Accrued clinical trial expenses | 636,497 | 188,057 | |||||||
Accrued other | 195,445 | 84,145 | |||||||
$ | 1,630,809 | $ | 1,194,998 | ||||||
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Schedule of Stockholders Equity Note, Warrants or Rights [Table Text Block] | ' | ||||||||||||
The following table summarizes the warrants outstanding to purchase common stock at December 31, 2013: | |||||||||||||
Issue date | Number of warrants | Exercise price | Term | ||||||||||
Mar-09 | 12,445 | $ | 11.25 | 7 years | |||||||||
Dec-11 | 123,585 | $ | 5.21 | 7 years | |||||||||
Feb-12 | 3,700 | $ | 5.21 | 6 years | |||||||||
Jun-12 | 17,267 | $ | 5.21 | 7 years | |||||||||
Aug-12 | 112,536 | $ | 5.21 | 7 years | |||||||||
Apr-13 | 161,327 | $ | 5.21 | 7 years | |||||||||
Apr-13 | 3,977,290 | $ | 3.58 | 7 years | |||||||||
4,408,150 | |||||||||||||
Stock_Based_Compensation_Table
Stock Based Compensation (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||||||||||
The following table summarizes the activity of the Company’s stock option plans for the years ended December 31, 2013 and 2012: | |||||||||||||||||||||
Number of options | Exercise | ||||||||||||||||||||
price | |||||||||||||||||||||
1-Jan-12 | 992,629 | $ | 2.57 | ||||||||||||||||||
Granted | — | — | |||||||||||||||||||
Exercised | (107 | ) | 2.25 | ||||||||||||||||||
Cancelled | (185,734 | ) | 2.74 | ||||||||||||||||||
31-Dec-12 | 806,788 | $ | 2.52 | ||||||||||||||||||
Granted | 1,864,559 | 3.18 | |||||||||||||||||||
Exercised | (8,803 | ) | 2.81 | ||||||||||||||||||
Cancelled | (84,292 | ) | 2.98 | ||||||||||||||||||
31-Dec-13 | 2,578,252 | $ | 2.98 | ||||||||||||||||||
Exercisable at December 31, 2013 | 768,049 | $ | 2.51 | ||||||||||||||||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | ' | ||||||||||||||||||||
The following table summarizes stock options outstanding as of December 31, 2013: | |||||||||||||||||||||
Range of exercise price | Number outstanding | Average exercise price | Remaining contractual life (years) | Number exercisable | Average exercise price | ||||||||||||||||
$1.00 – $2.00 | 11,630 | $ | 1.12 | 6.7 | 9,692 | $ | 1.12 | ||||||||||||||
2.01 – 3.00 | 623,714 | 2.34 | 1.2 | 623,714 | 2.34 | ||||||||||||||||
3.01 – 4.00 | 1,942,908 | 3.2 | 7.5 | 134,643 | 3.37 | ||||||||||||||||
2,578,252 | 2.98 | 4.2 | 768,049 | 2.51 | |||||||||||||||||
Schedule of Nonvested Share Activity [Table Text Block] | ' | ||||||||||||||||||||
A summary of unvested awards activity during the year ended December 31, 2013 is as follows: | |||||||||||||||||||||
Number | Grant date | ||||||||||||||||||||
fair value | |||||||||||||||||||||
1-Jan-13 | 14,251 | $ | 14,752 | ||||||||||||||||||
Granted | 1,864,559 | 4,266,120 | |||||||||||||||||||
Vested | (12,226 | ) | (14,303 | ) | |||||||||||||||||
Forfeited | (56,381 | ) | (120,054 | ) | |||||||||||||||||
31-Dec-13 | 1,810,203 | $ | 4,146,515 | ||||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | ||||||||||||||||||||
The following table provides information regarding stock options activity for the year ended December 31, 2013 and 2012: | |||||||||||||||||||||
Year ended December 31, | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Stock compensation expense recognized | $ | 538,643 | $ | 3,210 | |||||||||||||||||
Weighted average grant-date fair value of stock options issued | $ | 2.29 | $ | — | |||||||||||||||||
(per share) | |||||||||||||||||||||
Grant-date fair value of stock options issued | $ | 4,266,120 | $ | — | |||||||||||||||||
Volatility | 117.7 | % | — | ||||||||||||||||||
Risk-free interest rate | 1.9 | % | — | ||||||||||||||||||
Dividend yield | 0 | % | — | ||||||||||||||||||
Expected life in years | 6.2 | — | |||||||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | ' | ||||||||
Loss before income taxes consisted of the following: | |||||||||
Year ended December 31, | |||||||||
2013 | 2012 | ||||||||
Domestic | $ | (20,038,881 | ) | $ | (10,035,313 | ) | |||
Foreign | (2,217,576 | ) | (2,236,973 | ) | |||||
Total | $ | (22,256,457 | ) | $ | (12,272,286 | ) | |||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||
A reconciliation of the Statutory United States federal income tax rate to the Company’s effective rate and for December 31, 2013 and 2012 is as follows: | |||||||||
Year ended December 31, | |||||||||
2013 | 2012 | ||||||||
Loss before income taxes | $ | (22,256,457 | ) | $ | (12,272,286 | ) | |||
Federal rate | 34 | % | 34 | % | |||||
US Federal statutory tax rate | 7,567,195 | 4,172,577 | |||||||
State, net of federal rate | 487,083 | 613,614 | |||||||
Permanent differences | (2,548,770 | ) | (1,344,421 | ) | |||||
Research and development tax credits | 72,377 | (3,559,200 | ) | ||||||
Other | (113,803 | ) | 321,181 | ||||||
Changes to valuation allowances | (4,051,780 | ) | 1,159,808 | ||||||
$ | 1,412,302 | $ | 1,363,559 | ||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||
Significant components of the Company’s total deferred tax asset as of December 31, 2013 and 2012 are as follows: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Net operating loss carry forwards | $ | 38,619,755 | $ | 35,362,944 | |||||
Research and development loss pool carry forwards | 3,865,195 | 3,884,379 | |||||||
Deferred revenue | 384,615 | — | |||||||
Accrued expenses and other | 287,272 | (373,883 | ) | ||||||
Stock based compensation | 529,645 | 361,878 | |||||||
Property and equipment | (366,186 | ) | (19,995 | ) | |||||
R&D and investment tax credit carry forwards | 494,523 | 547,716 | |||||||
Deferred tax assets | $ | 43,814,819 | $ | 39,763,039 | |||||
Deferred tax assets valuation allowance | $ | (43,814,819 | ) | $ | (39,763,039 | ) | |||
$ | — | $ | — | ||||||
Geographic_Segment_Information1
Geographic Segment Information (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Segment Reporting [Abstract] | ' | ||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | ||||||||
The geographic information about total assets is based on the physical location of the assets. | |||||||||
Total Assets | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
United States | $ | 26,190,516 | $ | 11,578,590 | |||||
Canada | 284,563 | 717,250 | |||||||
Germany | 997,671 | 1,143,104 | |||||||
Total Assets | $ | 27,472,750 | $ | 13,438,944 | |||||
Net Loss | |||||||||
Year ended December 31, | |||||||||
2013 | 2012 | ||||||||
United States | $ | (18,626,579 | ) | $ | (8,671,754 | ) | |||
Canada | (2,217,576 | ) | (2,236,973 | ) | |||||
Total Net Loss | $ | (20,844,155 | ) | $ | (10,908,727 | ) | |||
Commitment_and_Contingencies_T
Commitment and Contingencies (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | ' | ||||
Minimum lease payments on all operating leases are as follows: | |||||
Year ending December 31, | |||||
2014 | $ | 205,613 | |||
2015 | 208,872 | ||||
2016 | 177,678 | ||||
2017 | 143,550 | ||||
2018 | 72,372 | ||||
Total | $ | 808,085 | |||
Nature_of_Business_and_Liquidi1
Nature of Business and Liquidity (Details Textual) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Nov. 17, 1999 |
Nature Of Business And Liquidity [Line Items] | ' | ' | ' | ' |
Accumulated deficit | ($132,465,370) | ($111,621,215) | ' | ' |
Cash and Cash Equivalents, at Carrying Value | $23,589,516 | $9,648,008 | $3,226,778 | $0 |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Computer and equipment [Member] | ' |
Summary Of Significant Accounting Policies [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '4 years |
Furniture and office equipment [Member] | ' |
Summary Of Significant Accounting Policies [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '7 years |
Laboratory Equipment [Member] | ' |
Summary Of Significant Accounting Policies [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '10 years |
Capital Lease Equipment and Leasehold Improvements [Member] | ' |
Summary Of Significant Accounting Policies [Line Items] | ' |
Property, Plant and Equipment, Estimated Useful Lives | 'Lesser of useful life or term of lease |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies (Details 1) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Assets: | ' | ' |
Certificates of Deposit | $15,003,472 | ' |
Money Market Fund | 7,597,730 | 9,107,500 |
Total | 22,601,202 | ' |
Level 1 [Member] | ' | ' |
Assets: | ' | ' |
Certificates of Deposit | 15,003,472 | ' |
Money Market Fund | 7,597,730 | 9,107,500 |
Total | 22,601,202 | ' |
Level 2 [Member] | ' | ' |
Assets: | ' | ' |
Certificates of Deposit | 0 | ' |
Money Market Fund | 0 | 0 |
Total | 0 | ' |
Level 3 [Member] | ' | ' |
Assets: | ' | ' |
Certificates of Deposit | 0 | ' |
Money Market Fund | 0 | 0 |
Total | $0 | ' |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies (Details 2) (USD $) | 12 Months Ended | 169 Months Ended | |||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2007 | Dec. 31, 2006 | Dec. 31, 2005 | Dec. 31, 2004 | Dec. 31, 2003 | Dec. 31, 2002 | Dec. 31, 2001 | Dec. 31, 2000 | Dec. 31, 2013 | |
Schedule Of Net Income Or Loss Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | ($20,844,155) | ($10,908,727) | ($14,159,754) | ($10,814,788) | ($10,022,979) | ($14,028,617) | ($16,761,805) | ($14,588,786) | ($8,913,249) | ($5,445,046) | ($3,506,027) | ($1,497,719) | ($773,668) | ($200,050) | ($132,465,370) |
Net loss per share | ($0.95) | ($0.88) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average shares outstanding | 22,000,476 | 12,361,163 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
As Reported [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Schedule Of Net Income Or Loss Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | ' | ($10,908,727) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss per share | ' | ($1.30) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average shares outstanding | ' | 8,406,104 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary_of_Significant_Account6
Summary of Significant Accounting Policies (Details 3) (USD $) | 12 Months Ended |
Dec. 31, 2012 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Beginning Balance | $549,317 |
Additions | 513,809 |
Reclassification to equity | -1,063,126 |
Ending Balance | $0 |
Summary_of_Significant_Account7
Summary of Significant Accounting Policies (Details Textual) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Money Market Funds At Carrying Value | $7,597,730 | $9,107,500 |
Certificates of Deposit, at Carrying Value | $15,003,472 | ' |
Other_Receivables_Details
Other Receivables (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Other Receivables [Line Items] | ' | ' |
Receivables related to the sale of New Jersey net operating losses | $1,412,302 | $1,363,559 |
Receivables related to value added tax recovery | 0 | 95,910 |
Receivables related to the Leukemia & Lymphoma Society funding | 0 | 500,000 |
Other receivables | 5,011 | 40,888 |
Other receivables, net | $1,417,313 | $2,000,357 |
Other_Current_Assets_Details
Other Current Assets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Other Assets [Abstract] | ' | ' |
Clinical trial materials | $468,389 | $0 |
Property_and_Equipment_Details
Property and Equipment (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $2,186,900 | $2,257,125 |
Less: Accumulated depreciation | -1,048,321 | -1,012,100 |
Property and equipment, net | 1,138,579 | 1,245,025 |
Computer and equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 136,498 | 103,858 |
Furniture and office equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 96,457 | 145,499 |
Laboratory equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 1,760,633 | 1,779,188 |
Capital lease equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 155,523 | 155,520 |
Leaseholds [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $37,789 | $73,060 |
Property_and_Equipment_Details1
Property and Equipment (Details Textual) (USD $) | 12 Months Ended | 169 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Feb. 29, 2012 | |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Assets Held For Sale Long Lived | ' | ' | ' | $507,622 |
Assets Disposals, Written Off Net Book Value | 177,827 | 144,995 | ' | ' |
Proceeds from sale of assets | 51,776 | 61,918 | 447,164 | ' |
Loss on disposal of property and equipment | -126,633 | -83,077 | -898,719 | ' |
Depreciation And Amortization | 197,743 | 411,621 | 4,871,973 | ' |
Asset Impairment Charges | ' | 78,758 | ' | ' |
Impairment of Long-Lived Assets Held-for-use | 582 | ' | ' | ' |
Scientific Equipment [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Assets Held For Sale Long Lived | $74,086 | $251,269 | $74,086 | ' |
Accrued_Liabilities_Details
Accrued Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Accrued Liabilities [Line Items] | ' | ' |
Accrued bonuses | $624,472 | $458,177 |
Accrued salaries and vacation | 143,484 | 198,817 |
Accrued professional fees | 30,911 | 265,802 |
Accrued clinical trial expenses | 636,497 | 188,057 |
Accrued other | 195,445 | 84,145 |
Accrued liabilities | $1,630,809 | $1,194,998 |
Loans_Payable_Details_Textual
Loans Payable (Details Textual) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||||
Dec. 31, 2012 | Dec. 31, 2011 | Aug. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Aug. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Aug. 31, 2012 | Jun. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | |
Preference Notes [Member] | Preference Notes [Member] | Warrant [Member] | Warrant [Member] | Related Party Loans [Member] | Related Party Loans [Member] | Related Party Loans [Member] | Bank Loans [Member] | Bank Loans [Member] | Bank Loans [Member] | Bank Loans [Member] | |||
Warrant [Member] | |||||||||||||
Loans Payable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Notes Payable | ' | ' | ' | ' | ' | ' | ' | ' | $2,576,610 | ' | ' | ' | ' |
Additional Note That Could be Purchased | ' | ' | ' | ' | ' | ' | ' | ' | 2,423,390 | ' | ' | ' | ' |
Line of Credit Facility | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | 3,000,000 | ' | ' |
Debt Instrument, Convertible, Conversion Price | ' | $5.21 | $5.21 | ' | ' | ' | $5.63 | ' | $5.21 | ' | ' | $5.21 | ' |
Warrants Issued On Loan Agreement Shares | ' | ' | ' | 116,236 | ' | ' | ' | ' | 123,585 | ' | ' | ' | ' |
Fair Value Assumptions, Expected Term | ' | ' | ' | ' | ' | '7 years | ' | ' | ' | ' | ' | ' | '7 years |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Issuances | 513,809 | ' | ' | ' | 513,809 | 549,317 | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Related Party Debt | 2,423,390 | ' | ' | 423,390 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Conversion, Original Debt, Amount | ' | ' | 1,693,560 | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' |
Interest Expense, Debt | ' | ' | ' | ' | ' | 68,655 | 148,584 | 994,471 | ' | ' | ' | ' | ' |
Debt Conversion Converted Instrument Shares Issued 1 | ' | ' | 324,912 | ' | ' | ' | 915,304 | ' | ' | ' | ' | ' | ' |
Debt Instrument Convertible Beneficial Conversion Feature | 1,355,523 | ' | 134,071 | ' | 0 | ' | 1,221,452 | ' | ' | ' | ' | ' | ' |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net, Total | 1,063,126 | ' | ' | ' | 1,063,126 | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Lines of Credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | 1,000,000 | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% | ' | 5.50% | ' | ' |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,267 |
Fair value warrants issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $10,487 |
Fair Value Assumptions, Risk Free Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% |
Fair Value Assumptions, Expected Dividend Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% |
Fair Value Assumptions, Expected Volatility Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 88.00% |
Stockholders_Equity_Details
Stockholders' Equity (Details ) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Class of Warrant or Right [Line Items] | ' |
Number of Warrants | 4,408,150 |
March 2009 [Member] | ' |
Class of Warrant or Right [Line Items] | ' |
Number of Warrants | 12,445 |
Exercise Price | $11.25 |
Term | '7 years |
December 2011 [Member] | ' |
Class of Warrant or Right [Line Items] | ' |
Number of Warrants | 123,585 |
Exercise Price | $5.21 |
Term | '7 years |
February 2012 [Member] | ' |
Class of Warrant or Right [Line Items] | ' |
Number of Warrants | 3,700 |
Exercise Price | $5.21 |
Term | '6 years |
June 2012 [Member] | ' |
Class of Warrant or Right [Line Items] | ' |
Number of Warrants | 17,267 |
Exercise Price | $5.21 |
Term | '7 years |
August 2012 [Member] | ' |
Class of Warrant or Right [Line Items] | ' |
Number of Warrants | 112,536 |
Exercise Price | $5.21 |
Term | '7 years |
April 2013 [Member] | ' |
Class of Warrant or Right [Line Items] | ' |
Number of Warrants | 161,327 |
Exercise Price | $5.21 |
Term | '7 years |
April 2013 1 [Member] | ' |
Class of Warrant or Right [Line Items] | ' |
Number of Warrants | 3,977,290 |
Exercise Price | $3.58 |
Term | '7 years |
Stockholders_Equity_Details_Te
Stockholders' Equity (Details Textual) (USD $) | 12 Months Ended | 169 Months Ended | 1 Months Ended | 12 Months Ended | ||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Apr. 29, 2013 | Aug. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
Private placement [Member] | Private placement [Member] | Private placement [Member] | Private placement [Member] | Private placement [Member] | ||||
Warrants Exercise Price at $5.21 [Member] | Warrants Exercise Price at $3.58 [Member] | |||||||
Schedule Of Shareholders Equity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Payments of Stock Issuance Costs | ' | ' | ' | ' | $837,280 | ' | ' | ' |
Stock Issued During Period Shares New Issues | ' | ' | ' | ' | 1,202,276 | 1,923,599 | ' | ' |
Share Price | ' | ' | ' | ' | $5.63 | ' | ' | ' |
Proceeds From Issuance Of Common Stock | 32,520,974 | 6,763,043 | 41,036,255 | ' | 5,925,265 | ' | ' | ' |
Stock Issued During Private Placement | ' | ' | ' | 10,430,034 | ' | ' | ' | ' |
Sale of Stock, Price Per Share | ' | ' | ' | $3.12 | ' | ' | ' | ' |
Gross Proceeds From Issuance Of Private Placement | ' | ' | ' | 32,499,986 | ' | ' | ' | ' |
Warrants Issued For Purchase Of Common Stock | ' | ' | ' | 0.28 | ' | ' | 161,327 | 1,056,898 |
Class of Warrant or Right, Exercise Price of Warrants or Rights | ' | ' | ' | $3.58 | ' | ' | $5.21 | $3.58 |
Proceeds from Issuance of Private Placement | ' | ' | ' | 29,420,375 | ' | ' | ' | ' |
Derivative Liability, Fair Value, Gross Liability | ' | ' | ' | ' | ' | ' | ' | $7,473,108 |
Stock_Based_Compensation_Detai
Stock Based Compensation (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Schedule Of Share Based Compensation Stock Options Activity [Line Items] | ' | ' |
Number of options, Beginning balance | 806,788 | 992,629 |
Number of options, Granted | 1,864,559 | 0 |
Number of options, Exercised | -8,803 | -107 |
Number of options, Cancelled | -84,292 | -185,734 |
Number of options, Ending balance | 2,578,252 | 806,788 |
Number of options, Exercisable | 768,049 | ' |
Exercise price, Beginning balance | $2.52 | $2.57 |
Exercise price, Granted | $3.18 | $0 |
Exercise pice, Exercised | $2.81 | $2.25 |
Exercise price, Cancelled | $2.98 | $2.74 |
Exercise price, Ending balance | $2.98 | $2.52 |
Exercise price, Exercisable | $2.51 | ' |
Stock_Based_Compensation_Detai1
Stock Based Compensation (Details 1) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Number of Options Outstanding | 2,578,252 |
Options Outstanding, Weighted Average Exercise Price | $2.98 |
Options Outstanding, Weighted Average Remaining Contractual Life (In Years) | '4 years 2 months 12 days |
Number of Options Exercisable | 768,049 |
Options Exercisable, Weighted Average Exercise Price | $2.51 |
Range one [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price Range, Upper Limit | $2 |
Exercise Price Range, Lower Limit | $1 |
Number of Options Outstanding | 11,630 |
Options Outstanding, Weighted Average Exercise Price | $1.12 |
Options Outstanding, Weighted Average Remaining Contractual Life (In Years) | '6 years 8 months 12 days |
Number of Options Exercisable | 9,692 |
Options Exercisable, Weighted Average Exercise Price | $1.12 |
Range two [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price Range, Upper Limit | $3 |
Exercise Price Range, Lower Limit | $2.01 |
Number of Options Outstanding | 623,714 |
Options Outstanding, Weighted Average Exercise Price | $2.34 |
Options Outstanding, Weighted Average Remaining Contractual Life (In Years) | '1 year 2 months 12 days |
Number of Options Exercisable | 623,714 |
Options Exercisable, Weighted Average Exercise Price | $2.34 |
Range three [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price Range, Upper Limit | $4 |
Exercise Price Range, Lower Limit | $3.01 |
Number of Options Outstanding | 1,942,908 |
Options Outstanding, Weighted Average Exercise Price | $3.20 |
Options Outstanding, Weighted Average Remaining Contractual Life (In Years) | '7 years 6 months |
Number of Options Exercisable | 134,643 |
Options Exercisable, Weighted Average Exercise Price | $3.37 |
Stock_Based_Compensation_Detai2
Stock Based Compensation (Details 2) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Schedule of Summary of Unvested Awards Activity [Line Items] | ' | ' |
Number of options, Begining balance | 14,251 | ' |
Number of options, Granted | 1,864,559 | 0 |
Number of options, Vested | -12,226 | ' |
Number of options, Forfeited | -56,381 | ' |
Number of options, Ending balance | 1,810,203 | 14,251 |
Grant date fair value, Begining balance | $14,752 | ' |
Grant date fair value, Granted | $4,266,120 | ' |
Grant date fair value, Vested | ($14,303) | ' |
Grant date fair value, Forfeited | ($120,054) | ' |
Grant date fair value, Ending balance | $4,146,515 | $14,752 |
Stock_Based_Compensation_Detai3
Stock Based Compensation (Details 3) (USD $) | 12 Months Ended | 169 Months Ended | |||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2007 | Dec. 31, 2006 | Dec. 31, 2013 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock compensation expense recognized | $538,643 | $3,210 | $114,089 | $169,424 | $200,522 | $186,578 | $243,340 | $201,989 | $1,657,795 |
Weighted average grant-date fair value of stock options issued (per share) | $2.29 | $0 | ' | ' | ' | ' | ' | ' | ' |
Grant-date fair value of stock options issued | $4,266,120 | $0 | ' | ' | ' | ' | ' | ' | ' |
Volatility | 117.70% | 0.00% | ' | ' | ' | ' | ' | ' | ' |
Risk-free interest rate | 1.90% | 0.00% | ' | ' | ' | ' | ' | ' | ' |
Dividend yield | 0.00% | 0.00% | ' | ' | ' | ' | ' | ' | ' |
Expected life in years | '6 years 2 months 12 days | '0 years | ' | ' | ' | ' | ' | ' | ' |
Stock_Based_Compensation_Detai4
Stock Based Compensation (Details Textual) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 680,279 |
Equity Incentive Plan [Member] | ' |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 2,460,546 |
Non vested Awards [Member] | ' |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $3,646,664 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | '3 years 4 months 24 days |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Income Taxes [Line Items] | ' | ' |
Domestic | ($20,038,881) | ($10,035,313) |
Foreign | -2,217,576 | -2,236,973 |
Total | ($22,256,457) | ($12,272,286) |
Income_Taxes_Details_1
Income Taxes (Details 1) (USD $) | 12 Months Ended | 169 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Effective Income Tax Rate Reconciliation [Line Items] | ' | ' | ' |
Loss before income taxes | ($22,256,457) | ($12,272,286) | ' |
Federal rate | 34.00% | 34.00% | ' |
US Federal statutory tax rate | 7,567,195 | 4,172,577 | ' |
State, net of federal rate | 487,083 | 613,614 | ' |
Permanent differences | -2,548,770 | -1,344,421 | ' |
Research and development tax credits | 72,377 | -3,559,200 | ' |
Other | -113,803 | 321,181 | ' |
Changes to valuation allowances | -4,051,780 | 1,159,808 | ' |
Income tax benefit | $1,412,302 | $1,363,559 | $7,655,885 |
Income_Taxes_Details_2
Income Taxes (Details 2) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Effective Income Tax Rate Reconciliation [Line Items] | ' | ' |
Net operating loss carry forwards | $38,619,755 | $35,362,944 |
Research and development loss pool carry forwards | 3,865,195 | 3,884,379 |
Deferred revenue | 384,615 | 0 |
Accrued expenses and other | 287,272 | -373,883 |
Stock based compensation | 529,645 | 361,878 |
Property and equipment | -366,186 | -19,995 |
R&D and investment tax credit carry forwards | 494,523 | 547,716 |
Deferred tax assets | 43,814,819 | 39,763,039 |
Deferred tax assets valuation allowance | -43,814,819 | -39,763,039 |
Deferred Tax Assets, Net of Valuation Allowance, Total | $0 | $0 |
Income_Taxes_Details_Textual
Income Taxes (Details Textual) (USD $) | 12 Months Ended | 169 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Income Taxes [Line Items] | ' | ' | ' |
Income Tax Expense Benefit | ($1,412,302) | ($1,363,559) | ($7,655,885) |
Canada British Columbia [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Investment Tax Credit | 0 | 23,087 | ' |
Federal Income Tax Purposes [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Operating Loss Carryforwards | 109,953,867 | ' | 109,953,867 |
State Income Tax Purposes [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Operating Loss Carryforwards | 24,709,120 | ' | 24,709,120 |
Federal [Member] | Canada [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Investment Tax Credit | $494,523 | $524,629 | ' |
Geographic_Segment_Information2
Geographic Segment Information (Details) (USD $) | 12 Months Ended | 169 Months Ended | |||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2007 | Dec. 31, 2006 | Dec. 31, 2005 | Dec. 31, 2004 | Dec. 31, 2003 | Dec. 31, 2002 | Dec. 31, 2001 | Dec. 31, 2000 | Dec. 31, 2013 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Assets | $27,472,750 | $13,438,944 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $27,472,750 |
Total Net Loss | -20,844,155 | -10,908,727 | -14,159,754 | -10,814,788 | -10,022,979 | -14,028,617 | -16,761,805 | -14,588,786 | -8,913,249 | -5,445,046 | -3,506,027 | -1,497,719 | -773,668 | -200,050 | -132,465,370 |
United States [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Assets | 26,190,516 | 11,578,590 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26,190,516 |
Total Net Loss | -18,626,579 | -8,671,754 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Canada [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Assets | 284,563 | 717,250 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 284,563 |
Total Net Loss | -2,217,576 | -2,236,973 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Germany [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Assets | $997,671 | $1,143,104 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $997,671 |
Leukemia_and_Lymphoma_Society_1
Leukemia and Lymphoma Society funding (Details Textual) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2013 |
Leukemia And Lymphoma Society Agreement [Member] | Leukemia And Lymphoma Society Agreement [Member] | Leukemia And Lymphoma Society Agreement [Member] | Leukemia And Lymphoma Society Agreement [Member] | Leukemia And Lymphoma Society Agreement [Member] | |||
Phase Three Study [Member] | Phase Three Study [Member] | ||||||
Research and Development Arrangement, Contract to Perform for Others [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Grants Receivable | $0 | $500,000 | ' | $500,000 | ' | ' | ' |
Upfront payment, recorded as deffered revenue | 542,986 | 615,384 | ' | ' | 2,000,000 | ' | ' |
Potential Future Milestone Payments | ' | ' | ' | ' | 3,000,000 | ' | ' |
Revenue Recognition, Milestone Method, Revenue Recognized | ' | ' | ' | 1,000,000 | ' | ' | ' |
Funding for project inventions | ' | ' | ' | ' | ' | 5,000,000 | 5,000,000 |
Recognition of Deferred Revenue | ' | ' | $561,086 | $307,392 | ' | ' | ' |
Commitments_and_Contingencies_
Commitments and Contingencies (Details) (USD $) | Dec. 31, 2013 |
Lease Payments [Line Items] | ' |
2014 | $205,613 |
2015 | 208,872 |
2016 | 177,678 |
2017 | 143,550 |
2018 | 72,372 |
Total | $808,085 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details Textual) (USD $) | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Feb. 28, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
Princeton University Agreement [Member] | Leukemia & Lymphoma Society Agreement [Member] | Leukemia & Lymphoma Society Agreement [Member] | Leukemia & Lymphoma Society Agreement [Member] | Leukemia & Lymphoma Society Agreement [Member] | Vancouver, British Columbia [Member] | Vancouver, British Columbia [Member] | Ewing, New Jersey [Member] | Ewing, New Jersey [Member] | British Columbia Cancer Agency [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | ||
Phase 3 study [Member] | Phase 3 study [Member] | Phase 2 study [Member] | Princeton University Agreement [Member] | Leukemia & Lymphoma Society Agreement [Member] | Princeton University Agreement [Member] | Leukemia & Lymphoma Society Agreement [Member] | |||||||||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of royalty payable from the amount received from out-licenses and transfers | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | 45.00% | ' | 55.00% | ' |
Agreement termination notice period | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rectification of default period | ' | '60 days | ' | ' | ' | ' | ' | ' | ' | ' | '45 days | ' | ' | ' | ' |
Funding for project inventions | ' | ' | ' | $5,000,000 | $5,000,000 | $4,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of times amount payable under research funding program | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.5 | ' | 3.55 |
Cash Payment Or Royalties on net sales | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Leases, Future Minimum Payments Due, Total | 808,085 | ' | ' | ' | ' | ' | ' | 167,070 | ' | 632,218 | ' | ' | ' | ' | ' |
Letters of Credit Outstanding, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' |
Contractual Obligation of letter of credit payment as on December 1, 2014 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,000 | ' | ' | ' | ' | ' |
Contractual Obligation of letter of credit payment as on December 1, 2015 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,000 | ' | ' | ' | ' | ' |
Contractual Obligation of letter of credit payment as on December 1, 2016 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,000 | ' | ' | ' | ' | ' |
Contractual Obligation of letter of credit payment as on December 1, 2017 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $60,000 | ' | ' | ' | ' | ' |
Lease Commencement Date | ' | ' | ' | ' | ' | ' | '2013-04-01 | ' | '2013-06-01 | ' | ' | ' | ' | ' | ' |
Lease Expiration Date | ' | ' | ' | ' | ' | ' | 30-Jun-16 | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Lease Expiration Term | ' | ' | ' | ' | ' | ' | ' | ' | '60 months | ' | ' | ' | ' | ' | ' |