Celator Pharmaceuticals (CPXX) 10-Q 7 May 15 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2015	7-May-15
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Entity Registrant Name	Celator Pharmaceuticals Inc
Entity Central Index Key	1327467
Current Fiscal Year End Date	-19
Entity Filer Category	Smaller Reporting Company
Trading Symbol	CPXX
Entity Common Stock, Shares Outstanding		33,741,872

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$32,897,812	$32,413,777
Restricted cash	191,673	194,561
Other receivables	25,966	21,102
Prepaid expenses and deposits	400,926	482,472
Other current assets	442,012	458,278
Total current assets	33,958,389	33,570,190
Property and equipment, net	973,422	1,004,412
Other assets	570,597	544,501
Total assets	35,502,408	35,119,103
Current liabilities:
Current portion of debt	1,726,559	284,961
Accounts payable	763,812	723,765
Accrued liabilities	1,278,539	1,735,420
Current portion of deferred revenue	452,489	542,986
Total current liabilities	4,221,399	3,287,132
Deferred revenue	0	45,249
Deferred rent	43,190	45,408
Loans payable	13,438,804	9,836,256
Total liabilities	17,703,393	13,214,045
Stockholders' equity
Preferred stock Authorized 20,000,000 shares, par value $0.001	0	0
Common stock Authorized 200,000,000 shares, par value $0.001 Issued and outstanding 33,741,872 and 33,681,355 shares as of March 31, 2015 and December 31, 2014, respectively	33,742	33,681
Warrants	1,083,193	1,083,193
Additional paid-in capital	171,894,582	171,289,703
Accumulated other comprehensive loss	-1,133,266	-1,133,266
Accumulated deficit	-154,079,236	-149,368,253
Total stockholders' equity	17,799,015	21,905,058
Total liabilities and stockholders' equity	$35,502,408	$35,119,103

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets [Parenthetical] (USD $)	Mar. 31, 2015	Dec. 31, 2014
Preferred Stock, Shares Authorized	20,000,000	20,000,000
peferred stock, par valur (in dollars per share)	$0.00	$0.00
Common stock, authorized shares	200,000,000	200,000,000
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, issued shares	33,741,872	33,681,355
Common stock, outstanding shares	33,741,872	33,681,355

Consolidated_Statements_of_Los

Consolidated Statements of Loss (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Expenses
Research and development	$2,708,011	$2,967,853
Leukemia & Lymphoma Society funding	-135,747	-635,747
General and administrative	1,761,449	1,888,267
Amortization and depreciation	48,928	47,735
Operating loss	-4,382,641	-4,268,108
Other income (expenses)
Foreign exchange gain (loss)	9,639	-11,708
Interest and miscellaneous income	3,141	2,315
Interest expense	-341,122	0
Net loss	($4,710,983)	($4,277,501)
Net loss per share
Basic and diluted (in dollars per share)	($0.14)	($0.16)
Weighted average of common shares outstanding
Basic and diluted (in shares)	33,704,889	26,037,504

Consolidated_Statement_of_Stoc

Consolidated Statement of Stockholders' Equity (USD $)	Total	Common Stock [Member]	Warrants [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Deficit [Member]
Balance at Dec. 31, 2014	$21,905,058	$33,681	$1,083,193	$171,289,703	($1,133,266)	($149,368,253)
Balance (in shares) at Dec. 31, 2014		33,681,355
Stock based compensation	359,200	0	0	359,200	0	0
Warrants issued	76,897	0	0	76,897	0	0
Stock issued for payment of accrued bonuses	168,843	61	0	168,782	0	0
Stock issued for payment of accrued bonuses (in shares)		60,517
Net loss for the period	-4,710,983	0	0	0	0	-4,710,983
Balance at Mar. 31, 2015	$17,799,015	$33,742	$1,083,193	$171,894,582	($1,133,266)	($154,079,236)
Balance (in shares) at Mar. 31, 2015		33,741,872

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Operating activities
Net loss	($4,710,983)	($4,277,501)
Adjustments to reconcile net loss to net cash used in operating activities
Amortization and depreciation	48,928	47,735
Non-cash stock-based compensation expense	359,200	302,982
Non-cash financing costs	94,664	0
Changes in operating assets and liabilities
Other receivables	-4,864	1,407,709
Prepaid expenses and deposits	79,617	319,089
Restricted cash	-8	-13
Other current assets	16,266	-15,931
Other assets	0	-29,938
Accounts payable	46,113	-122,129
Accrued liabilities	-285,171	-365,909
Deferred rent liability	-2,218	-1,620
Deferred revenue	-135,746	-135,747
Cash used in operating activities	-4,494,202	-2,871,273
Investing activities
Purchase of property and equipment	-17,938	-2,436
Cash used in investing activities	-17,938	-2,436
Financing activities
Proceeds from issuance of common stock and on options exercised	0	104,387
Proceeds from loans payable	5,000,000	0
Cash provided by financing activities	5,000,000	104,387
Effect of foreign exchange rate changes	-3,825	-8,137
Net change in cash	484,035	-2,777,459
Cash and cash equivalents, beginning of period	32,413,777	23,589,516
Cash and cash equivalents, end of period	32,897,812	20,812,057
Supplemental disclosure of cash flow information
Interest paid	243,750	0
Warrants issued in connection with debt issuance costs	76,897	0
Common stock issued in payment of accrued bonuses	$168,843	$0

Nature_of_Business_and_Liquidi

Nature of Business and Liquidity	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Nature of Operations [Text Block]		1	Nature of Business and Liquidity
	Celator Pharmaceuticals, Inc., with locations in Ewing, N.J., and Vancouver, B.C., is a clinical stage biopharmaceutical company that is transforming the science of combination therapy, and developing products to improve patient outcomes in cancer. The Company’s proprietary technology platform, CombiPlex®, enables the rational design and rapid evaluation of optimized combinations incorporating traditional chemotherapies as well as molecularly targeted agents to deliver enhanced anti-cancer activity. CombiPlex addresses several fundamental shortcomings of conventional combination regimens, as well as the challenges inherent in combination drug development, by identifying the most effective synergistic molar ratio of the drugs being combined in vitro, and fixing this ratio in a nano-scale drug delivery complex to maintain the optimized combination until exposure to the tumor following administration. The Company’s pipeline includes lead product, CPX-351 (a liposomal formulation of cytarabine:daunorubicin) for the treatment of acute myeloid leukemia; CPX-1 (a liposomal formulation of irinotecan:floxuridine) for the treatment of colorectal cancer; a preclinical stage product candidate; CPX-8 (a hydrophobic docetaxel prodrug nanoparticle formulation), being studied by the National Cancer Institute’s Nanotechnology Characterization Laboratory; and several programs exploring novel combinations of existing drugs, including molecularly targeted therapies.
	The Company has incurred recurring losses and negative cash flows from operations since inception. As of March 31, 2015, the Company had an accumulated deficit of $154.1 million. 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 March 31, 2015, the Company had cash and cash equivalents of $32.9 million. Management believes that the cash and cash equivalents at March 31, 2015 will be sufficient to meet estimated working capital requirements and fund planned operations into the second half of 2016.
	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. Substantial additional financing will be needed by the Company to fund its operations and to commercialize its product candidates. 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	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	2	Summary of Significant Accounting Policies
	The accompanying unaudited consolidated financial statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with the consolidated financial statements and notes included in Company’s Annual Report on Form 10-K for the year ended December 31, 2014. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) have been omitted.
	In the opinion of management of the Company, the interim consolidated financial statements reflect all adjustments considered necessary for a fair presentation of the financial position, operating results and cash flows of the interim periods. All such adjustments are of a normal, recurring nature. The results of operations for the interim periods are not necessarily indicative of the results of operations to be expected for the full year.
	Basis of consolidation: The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Celator Pharmaceuticals 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 and contingencies.
	New Accounting Pronouncements: In April 2015, the Financial Accounting Standards Board (“FASB”) issued guidance, which requires that debt issuance costs be presented in the balance sheet as a deduction from the carrying amount of the related liability, rather than as a deferred charge. The updated guidance is effective retroactively for financial statements covering fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted but we do not anticipate electing early adoption. We are currently evaluating the impact of the adoption of this guidance on our consolidated financial statements.
	In February 2015, the FASB issued guidance, which modifies the analysis regarding the evaluation of certain types of entities to be consolidated. Specifically, it (1) modifies the assessment of whether limited partnerships are variable interest entities (VIEs), (2) eliminates the presumption that a limited partnership should be consolidated by its general partner, (3) removes certain conditions for the evaluation of whether a fee paid to a decision maker constitutes a variable interest, and (4) modifies the evaluation concerning the impact of related parties in the determination of the primary beneficiary of a VIE. The updated guidance is effective for annual reporting periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted but we do not anticipate electing early adoption. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements.
	In January 2015, the FASB issued guidance, which completely eliminates all references to and guidance concerning the concept of an extraordinary item from GAAP. The updated guidance is effective for annual reporting periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted but we do not anticipate electing early adoption. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	3	Fair Value Measurements
	Financial instruments of the Company consist of cash deposits, money market investments, other receivables, accounts payable, certain accrued liabilities and debt. The carrying value of these financial instruments generally approximates fair value due to their short-term nature. The Company believes that the current carrying amount of its long-term debt approximates fair value because interest rate on this instrument is similar to rates that the Company would be able to receive for similar instruments of comparable maturity.
	FASB Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements 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 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:
	31-Mar-15		Fair Value		(Level 1)		(Level 2)		(Level 3)
	Assets:
	Money Market Fund		$	26,760,185	$	26,760,185	$	-	$	-
	31-Dec-14
	Assets:
	Money Market Fund		$	29,500,819	$	29,500,819	$	-	$	-

Other_Current_Assets

Other Current Assets	3 Months Ended
	Mar. 31, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Current Assets [Text Block]	4	Other Current Assets
	Other current assets as of March 31, 2015 and December 31, 2014, consist of the following:
			March 31, 2015		December 31, 2014
	Clinical trial materials		$	442,012	$	458,278

Property_and_Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2015
Property Plant And Equipment [Abstract]
Property Plant And Equipment Disclosure [Text Block]	5	Property and Equipment
	Property and equipment as of March 31, 2015 and December 31, 2014, including assets held under capital lease, consists of the following:
			March 31, 2015		December 31, 2014
	Computer and equipment		$	145,088	$	144,138
	Furniture and office equipment			96,457		96,457
	Laboratory equipment			1,727,381		1,723,331
	Capital lease equipment			155,524		155,524
	Leaseholds			50,727		37,789
				2,175,177		2,157,239
	Less: Accumulated depreciation			-1,201,755		-1,152,827
			$	973,422	$	1,004,412
	During the three months ended March 31, 2015 and March 31, 2014, depreciation and amortization expense was $48,928 and $47,735 respectively.

Other_Assets

Other Assets	3 Months Ended
	Mar. 31, 2015
Other Assets, Noncurrent Disclosure [Abstract]
Other Assets Disclosure [Text Block]	6	Other Assets
	Other assets as of March 31, 2015 and December 31, 2014 consist of the following:
			March 31, 2015		December 31, 2014
	Deferred financing costs (see Note 8)		$	565,675	$	539,296
	Other non-current assets			4,922		5,205
			$	570,597	$	544,501

Accrued_Liabilities

Accrued Liabilities	3 Months Ended
	Mar. 31, 2015
Payables And Accruals [Abstract]
Accounts Payable And Accrued Liabilities Disclosure [Text Block]	7	Accrued Liabilities
	Accrued liabilities as of March 31, 2015 and December 31, 2014 consist of the following:
			March 31, 2015		December 31, 2014
	Accrued bonuses		$	247,297	$	816,144
	Accrued salaries and vacation			191,530		152,700
	Accrued professional fees			20,000		8,904
	Accrued clinical trial expenses			386,419		633,395
	Accrued drug manufacturing expenses			200,723		-
	Interest payable			86,667		83,958
	Accrued other			145,903		40,319
			$	1,278,539	$	1,735,420

Loans_Payable

Loans Payable	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	8	Loans Payable
	On May 9, 2014, the Company entered into a term loan agreement for $15 million with Hercules Technology Capital Growth (“Hercules”). The first $10 million of the term loan was funded at closing. On March 30, 2015, the Company drew down the remaining $5 million of the term loan. The term loan is repayable in installments over forty-eight months including an initial interest-only period of eighteen months after closing. Interest is payable monthly at the greater of 9.75% or an adjusted rate based upon the US prime rate with interest only period until December 1, 2015. The funds will be used to provide general working capital.
	Pursuant to the loan agreement, the Company issued Hercules a warrant to purchase an aggregate of 210,675 shares of the Company’s common stock at an exercise price of $2.67 per share with a term of five years. The warrant is exercisable beginning on the date of issuance and expires May 9, 2019. The fair value of the warrants of $397,649 and financing costs of $357,253 incurred in connection with the term loan were recorded as debt issuance costs and will be amortized as interest expense using the effective interest method over the term of the loan. Amortization of debt issuance costs was $50,518 for the three months ended March 31, 2015 and the remaining unamortized debt issuance costs of $565,675 are included in other non-current assets.
	In addition, the Company will pay an end of term charge of $592,500 on the earliest to occur of (i) the term loan maturity date, (ii) the date that the Company prepays the outstanding loan, or (iii) the date that the loan become due and payable. The end of term charge will be accrued as additional interest expense using the effective interest rate method over the term of the loan. The Company accrued $44,146 of this fee during the three months ended March 31, 2015.
	Long-term debt as of March 31, 2015 and December 31, 2014, consists of the following:
			March 31, 2015		December 31, 2014
	Loan payable		$	15,000,000	$	10,000,000
	End of term fee			165,363		121,217
				15,165,363		10,121,217
	Less: Current portion			-1,726,559		-284,961
	Long-term debt		$	13,438,804	$	9,836,256

Stock_Based_Compensation

Stock Based Compensation	3 Months Ended
	Mar. 31, 2015
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”). 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 three months ended March 31, 2015:
			Number of			Exercise			Weighted-Average		Aggregate
			options			price			Remaining		Intrinsic Value
									Contractual Term
									(Years)
	31-Dec-14			3,005,287		$	3.02
	Granted			589,500			2.79
	Exercised			-			-
	Cancelled			-50,000			3.17
	31-Mar-15			3,544,787		$	2.98			7.4	$	99,045
	Exercisable at March 31, 2015			1,558,473		$	2.87			5.4	$	97,485
	The following table provides information regarding stock options activity for the three months ended March 31, 2015 and 2014:
			Three months ended
			March 31
			2015				2014
	Stock compensation expense recognized		$	359,200			$	302,982
	Weighted average grant-date fair value of stock options issued (per share)		$	2.31			$	2.78
	Grant-date fair value of stock options issued		$	1,360,094			$	1,096,710
	Volatility			106.9	%			115	%
	Risk-free interest rate			1.7	%			2.1	%
	Dividend yield			0	%			0	%
	Expected life in years			6.2				6.3
	Intrinsic value of stock options exercised		$	-			$	38,892
	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 March 31, 2015, the total compensation cost related to non-vested awards not yet recognized and weighted average period over which it will be recognized was $4,519,837 and 2.8 years, respectively.
	Stock Issuance
	In February 2015, the Company issued 60,517 shares of common stock to certain Company employees as payment for bonus accrued or earned in 2014 fiscal year. For one year from the date of issuance, the shares issued are non-transferable and are subject to forfeiture if the holder violates any confidentiality undertaking, non-competition agreement, non-solicitation agreement or other restrictive covenant under the employee’s employment agreement with the Company.

Geographic_Segment_Information

Geographic Segment Information	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	10	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
			March 31, 2015		December 31, 2014
	United States		$	34,511,653	$	34,027,837
	Canada			160,423		223,572
	Germany			830,332		867,694
	Total Assets		$	35,502,408	$	35,119,103
			Net Loss
			Three months ended
			March 31
			2015		2014
	United States		$	-4,311,341	$	-3,654,881
	Canada			-399,642		-622,620
	Total Net Loss		$	-4,710,983	$	-4,277,501

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments And Contingencies Disclosure [Abstract]
Commitments And Contingencies Disclosure [Text Block]	11	Commitments and Contingencies
	In September 2014, the Company entered into a lease agreement for a laboratory space in Vancouver, British Columbia, which expires in September 2015. The remaining minimum lease payments as of March 31, 2015 were $14,900.
	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 March 31, 2015 were $461,400. 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.
	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 March 31, 2015 were $71,200.
	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 the Company’s pipeline, only the hydrophobic docetaxel prodrug nanoparticle (HDPN) 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 may terminate the agreement if the 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 cash 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.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Basis of consolidation: The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Celator Pharmaceuticals 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 and contingencies.
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements: In April 2015, the Financial Accounting Standards Board (“FASB”) issued guidance, which requires that debt issuance costs be presented in the balance sheet as a deduction from the carrying amount of the related liability, rather than as a deferred charge. The updated guidance is effective retroactively for financial statements covering fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted but we do not anticipate electing early adoption. We are currently evaluating the impact of the adoption of this guidance on our consolidated financial statements.
	In February 2015, the FASB issued guidance, which modifies the analysis regarding the evaluation of certain types of entities to be consolidated. Specifically, it (1) modifies the assessment of whether limited partnerships are variable interest entities (VIEs), (2) eliminates the presumption that a limited partnership should be consolidated by its general partner, (3) removes certain conditions for the evaluation of whether a fee paid to a decision maker constitutes a variable interest, and (4) modifies the evaluation concerning the impact of related parties in the determination of the primary beneficiary of a VIE. The updated guidance is effective for annual reporting periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted but we do not anticipate electing early adoption. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements.
	In January 2015, the FASB issued guidance, which completely eliminates all references to and guidance concerning the concept of an extraordinary item from GAAP. The updated guidance is effective for annual reporting periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted but we do not anticipate electing early adoption. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements.

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping [Table Text Block]	There were no transfers between levels and the following table provides the assets carried at fair value:
	31-Mar-15	Fair Value		(Level 1)		(Level 2)		(Level 3)
	Assets:
	Money Market Fund	$	26,760,185	$	26,760,185	$	-	$	-
	31-Dec-14
	Assets:
	Money Market Fund	$	29,500,819	$	29,500,819	$	-	$	-

Other_Current_Assets_Tables

Other Current Assets (Tables)	3 Months Ended
	Mar. 31, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Current Assets [Table Text Block]	Other current assets as of March 31, 2015 and December 31, 2014, consist of the following:
		March 31, 2015		December 31, 2014
	Clinical trial materials	$	442,012	$	458,278

Property_and_Equipment_Tables

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2015
Property Plant And Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	Property and equipment as of March 31, 2015 and December 31, 2014, including assets held under capital lease, consists of the following:
		March 31, 2015		December 31, 2014
	Computer and equipment	$	145,088	$	144,138
	Furniture and office equipment		96,457		96,457
	Laboratory equipment		1,727,381		1,723,331
	Capital lease equipment		155,524		155,524
	Leaseholds		50,727		37,789
			2,175,177		2,157,239
	Less: Accumulated depreciation		-1,201,755		-1,152,827
		$	973,422	$	1,004,412

Other_Assets_Tables

Other Assets (Tables)	3 Months Ended
	Mar. 31, 2015
Other Assets, Noncurrent Disclosure [Abstract]
Schedule of Other Assets, Noncurrent [Table Text Block]	Other assets as of March 31, 2015 and December 31, 2014 consist of the following:
		March 31, 2015		December 31, 2014
	Deferred financing costs (see Note 8)	$	565,675	$	539,296
	Other non-current assets		4,922		5,205
		$	570,597	$	544,501

Accrued_Liabilities_Tables

Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2015
Payables And Accruals [Abstract]
Schedule of Accrued Liabilities [Table Text Block]	Accrued liabilities as of March 31, 2015 and December 31, 2014 consist of the following:
		March 31, 2015		December 31, 2014
	Accrued bonuses	$	247,297	$	816,144
	Accrued salaries and vacation		191,530		152,700
	Accrued professional fees		20,000		8,904
	Accrued clinical trial expenses		386,419		633,395
	Accrued drug manufacturing expenses		200,723		-
	Interest payable		86,667		83,958
	Accrued other		145,903		40,319
		$	1,278,539	$	1,735,420

Loans_Payable_Tables

Loans Payable (Tables)	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	Long-term debt as of March 31, 2015 and December 31, 2014, consists of the following:
		March 31, 2015		December 31, 2014
	Loan payable	$	15,000,000	$	10,000,000
	End of term fee		165,363		121,217
			15,165,363		10,121,217
	Less: Current portion		-1,726,559		-284,961
	Long-term debt	$	13,438,804	$	9,836,256

Stock_Based_Compensation_Table

Stock Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2015
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 three months ended March 31, 2015:
		Number of			Exercise			Weighted-Average		Aggregate
		options			price			Remaining		Intrinsic Value
								Contractual Term
								(Years)
	31-Dec-14		3,005,287		$	3.02
	Granted		589,500			2.79
	Exercised		-			-
	Cancelled		-50,000			3.17
	31-Mar-15		3,544,787		$	2.98			7.4	$	99,045
	Exercisable at March 31, 2015		1,558,473		$	2.87			5.4	$	97,485
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	The following table provides information regarding stock options activity for the three months ended March 31, 2015 and 2014:
		Three months ended
		March 31
		2015				2014
	Stock compensation expense recognized	$	359,200			$	302,982
	Weighted average grant-date fair value of stock options issued (per share)	$	2.31			$	2.78
	Grant-date fair value of stock options issued	$	1,360,094			$	1,096,710
	Volatility		106.9	%			115	%
	Risk-free interest rate		1.7	%			2.1	%
	Dividend yield		0	%			0	%
	Expected life in years		6.2				6.3
	Intrinsic value of stock options exercised	$	-			$	38,892

Geographic_Segment_Information1

Geographic Segment Information (Tables)	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	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
		March 31, 2015		December 31, 2014
	United States	$	34,511,653	$	34,027,837
	Canada		160,423		223,572
	Germany		830,332		867,694
	Total Assets	$	35,502,408	$	35,119,103
		Net Loss
		Three months ended
		March 31
		2015		2014
	United States	$	-4,311,341	$	-3,654,881
	Canada		-399,642		-622,620
	Total Net Loss	$	-4,710,983	$	-4,277,501

Nature_of_Business_and_Liquidi1

Nature of Business and Liquidity (Details Textual) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Nature Of Business And Liquidity [Line Items]
Accumulated deficit	($154,079,236)	($149,368,253)
Cash and Cash Equivalents, at Carrying Value	$32,897,812	$32,413,777	$20,812,057	$23,589,516

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (Money Market Funds [Member], USD $)	Mar. 31, 2015	Dec. 31, 2014
Assets:
Money Market Fund	$26,760,185	$29,500,819
Fair Value, Inputs, Level 1 [Member]
Assets:
Money Market Fund	26,760,185	29,500,819
Fair Value, Inputs, Level 2 [Member]
Assets:
Money Market Fund	0	0
Fair Value, Inputs, Level 3 [Member]
Assets:
Money Market Fund	$0	$0

Other_Current_Assets_Details

Other Current Assets (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Other Current Assets [Line Items]
Clinical trial materials	$442,012	$458,278

Property_and_Equipment_Details

Property and Equipment (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$2,175,177	$2,157,239
Less: Accumulated depreciation	-1,201,755	-1,152,827
Property and equipment, net	973,422	1,004,412
Computer and equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	145,088	144,138
Furniture and office equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	96,457	96,457
Laboratory equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,727,381	1,723,331
Capital lease equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	155,524	155,524
Leaseholds [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$50,727	$37,789

Property_and_Equipment_Details1

Property and Equipment (Details Textual) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Property, Plant and Equipment [Line Items]
Depreciation And Amortization	$48,928	$47,735

Other_Assets_Details

Other Assets (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Schedule Of Other Assets Noncurrent [Line Items]
Deferred financing costs (see Note 8)	$565,675	$539,296
Other non-current assets	4,922	5,205
Assets, Noncurrent	$570,597	$544,501

Accrued_Liabilities_Details

Accrued Liabilities (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Accrued Liabilities [Line Items]
Accrued bonuses	$247,297	$816,144
Accrued salaries and vacation	191,530	152,700
Accrued professional fees	20,000	8,904
Accrued clinical trial expenses	386,419	633,395
Accrued drug manufacturing expenses	200,723	0
Interest payable	86,667	83,958
Accrued other	145,903	40,319
Accrued liabilities	$1,278,539	$1,735,420

Loans_Payable_Details

Loans Payable (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Schedule Of Loan payable [Line Items]
Loan payable	$15,000,000	$10,000,000
End of term fee	165,363	121,217
Long-term debt	15,165,363	10,121,217
Less: Current portion	-1,726,559	-284,961
Long-term debt	$13,438,804	$9,836,256

Loans_Payable_Details_Textual

Loans Payable (Details Textual) (USD $)	3 Months Ended		0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	9-May-14	Dec. 31, 2014
Schedule Of Loan payable [Line Items]
Amortization Of Financing Costs And Discounts	$94,664	$0
Adjustments to Additional Paid in Capital, Warrant Issued	76,897	0
Deferred Finance Costs, Noncurrent, Net	565,675			539,296
Warrant [Member]
Schedule Of Loan payable [Line Items]
Adjustments to Additional Paid in Capital, Warrant Issued	0
Hercules Technology Growth Capital [Member]
Schedule Of Loan payable [Line Items]
Line of Credit Facility, Fair Value of Amount Outstanding			10,000,000
Line of Credit Facility, Maximum Borrowing Capacity			15,000,000
Line of Credit Facility, Remaining Borrowing Capacity	5,000,000
Long-term Debt, Maturities, Repayment Terms			repayable in installments over forty-eight months including an initial interest-only period of eighteen months after closing.
Line of Credit Facility, Interest Rate Description			Interest is payable monthly at the greater of 9.75% or an adjusted rate based upon the US prime rate with interest only period until December 1, 2015.
Warrants Maturity Term	5 years
End of Loan Term, Fees	44,146
Line of Credit Facility, Interest Rate During Period			9.75%
Warrant Exercisable Term	9-May-19
Hercules Technology Growth Capital [Member] | Warrant [Member]
Schedule Of Loan payable [Line Items]
Stock Issued During Period, Shares, New Issues	210,675
Amortization Of Financing Costs And Discounts	50,518
Class of Warrant or Right, Exercise Price of Warrants or Rights	$2.67
Adjustments to Additional Paid in Capital, Warrant Issued	397,649
Deferred Finance Costs, Noncurrent, Net	565,675
Hercules Technology Growth Capital [Member] | Term Loan [Member]
Schedule Of Loan payable [Line Items]
Debt Issuance Cost	357,253
Hercules Technology Growth Capital [Member] | End of Term Fee [Member]
Schedule Of Loan payable [Line Items]
Debt Issuance Cost	$592,500

Stock_Based_Compensation_Detai

Stock Based Compensation (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Schedule Of Share Based Compensation Stock Options Activity [Line Items]
Number of options, Beginning balance	3,005,287
Number of options, Granted	589,500
Number of options, Exercised	0
Number of options, Cancelled	-50,000
Number of options, Ending balance	3,544,787
Number of options, Exercisable	1,558,473
Exercise price, Beginning balance (in dollars per share)	$3.02
Exercise price, Granted (in dollars per share)	$2.79
Exercise pice, Exercised (in dollars per share)	$0
Exercise price, Cancelled (in dollars per share)	$3.17
Exercise price, Ending balance (in dollars per share)	$2.98
Exercise price, Exercisable (in dollars per share)	$2.87
Weighted Average Remaining Contractual Term, Outstanding (in years)	7 years 4 months 24 days
Weighted Average Remaining Contractual Term, Exercisable (in years)	5 years 4 months 24 days
Aggregate Intrinsic Value, outstanding (in dollars)	$99,045
Aggregate Intrinsic Value, Exercisable (in dollars)	$97,485

Stock_Based_Compensation_Detai1

Stock Based Compensation (Details 1) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock compensation expense recognized	$359,200	$302,982
Weighted average grant-date fair value of stock options issued (per share)	$2.31	$2.78
Grant-date fair value of stock options issued	1,360,094	1,096,710
Volatility	106.90%	115.00%
Risk-free interest rate	1.70%	2.10%
Dividend yield	0.00%	0.00%
Expected life in years	6 years 2 months 12 days	6 years 3 months 18 days
Intrinsic value of stock options exercised	$0	$38,892

Stock_Based_Compensation_Detai2

Stock Based Compensation (Details Textual) (USD $)	1 Months Ended	3 Months Ended
	Feb. 28, 2015	Mar. 31, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Issued During Period, Shares, Other	60,517
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		$4,519,837
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition		2 years 9 months 18 days

Geographic_Segment_Information2

Geographic Segment Information (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Assets	$35,502,408		$35,119,103
Total Net Loss	-4,710,983	-4,277,501
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Assets	34,511,653		34,027,837
Total Net Loss	-4,311,341	-3,654,881
Canada [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Assets	160,423		223,572
Total Net Loss	-399,642	-622,620
Germany [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Assets	$830,332		$867,694

Commitments_and_Contingencies_

Commitments and Contingencies (Details Textual) (USD $)	1 Months Ended	3 Months Ended
	Jun. 30, 2013	Mar. 31, 2015
Princeton University Agreement [Member]
Loss Contingencies [Line Items]
Agreement termination notice period		90 days
Rectification of default period	60 months	60 days
Leukemia & Lymphoma Society Agreement [Member]
Loss Contingencies [Line Items]
Percentage of royalty payable from the amount received from out-licenses and transfers		50.00%
Cash Payment Or Royalties on net sales		2013.00%
Leukemia & Lymphoma Society Agreement [Member] | Phase 3 study [Member]
Loss Contingencies [Line Items]
Funding for project inventions		5,000,000
Leukemia & Lymphoma Society Agreement [Member] | Phase 2 study [Member]
Loss Contingencies [Line Items]
Funding for project inventions		4,100,000
Vancouver Laboratory Space, British Columbia [Member]
Loss Contingencies [Line Items]
Operating Leases, Future Minimum Payments Due, Total		14,900
Lease Expiration Date		30-Sep-15
Ewing, New Jersey [Member]
Loss Contingencies [Line Items]
Operating Leases, Future Minimum Payments Due, Total		461,400
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
Vancouver Office Space, British Columbia [Member]
Loss Contingencies [Line Items]
Operating Leases, Future Minimum Payments Due, Total		71,200
Operating Lease Expiration Term		expires in June 2016.
British Columbia Cancer Agency [Member]
Loss Contingencies [Line Items]
Rectification of default period		45 days
Minimum [Member] | Princeton University Agreement [Member]
Loss Contingencies [Line Items]
Percentage of royalty payable from the amount received from out-licenses and transfers		45.00%
Minimum [Member] | Leukemia & Lymphoma Society Agreement [Member]
Loss Contingencies [Line Items]
Number of times amount payable under research funding program		1.5
Maximum [Member] | Princeton University Agreement [Member]
Loss Contingencies [Line Items]
Percentage of royalty payable from the amount received from out-licenses and transfers		55.00%
Maximum [Member] | Leukemia & Lymphoma Society Agreement [Member]
Loss Contingencies [Line Items]
Number of times amount payable under research funding program		3.55