Celator Pharmaceuticals (CPXX) 10-K 21 Mar 16 2015 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Mar. 18, 2016	Jun. 30, 2015
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Entity Registrant Name	Celator Pharmaceuticals Inc
Entity Central Index Key	1,327,467
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			$ 57,860,602
Trading Symbol	CPXX
Entity Common Stock, Shares Outstanding		36,386,056

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 23,253,328	$ 32,413,777
Restricted cash	149,017	194,561
Other receivables	74,244	21,102
Prepaid expenses and deposits	421,491	482,472
Other current assets	414,904	458,278
Total current assets	24,312,984	33,570,190
Property and equipment, net	861,490	1,004,412
Other assets	460,710	544,501
Total assets	25,635,184	35,119,103
Current liabilities:
Current portion of debt	5,378,134	284,961
Accounts payable	778,360	723,765
Accrued liabilities	2,377,713	1,735,420
Current portion of deferred revenue	45,249	542,986
Total current liabilities	8,579,456	3,287,132
Deferred revenue	0	45,249
Other liabilities	1,026,993	45,408
Loans payable	9,497,822	9,836,256
Total liabilities	$ 19,104,271	$ 13,214,045
Commitments and contingencies (Note 15)
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 34,944,150 and 33,681,355 shares as of December 31, 2015 and 2014, respectively	34,944	33,681
Warrants	1,083,193	1,083,193
Additional paid-in capital	175,229,643	171,289,703
Accumulated other comprehensive loss	(1,133,266)	(1,133,266)
Accumulated deficit	(168,683,601)	(149,368,253)
Total stockholders' equity	6,530,913	21,905,058
Total liabilities and stockholders' equity	$ 25,635,184	$ 35,119,103

Consolidated Balance Sheets _Pa

Consolidated Balance Sheets [Parenthetical] - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Preferred Stock, Shares Authorized	20,000,000	20,000,000
peferred stock, par valur (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized shares	200,000,000	200,000,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, issued shares	34,944,150	33,681,355
Common stock, outstanding shares	34,944,150	33,681,355

Consolidated Statements of Loss

Consolidated Statements of Loss - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Expenses
Research and development	$ 11,772,032	$ 11,892,368
Leukemia & Lymphoma Society funding	(1,442,986)	(1,542,986)
General and administrative	7,668,475	7,292,159
Loss on disposal of property and equipment	0	77,624
Amortization and depreciation	198,282	195,492
Operating loss	(18,195,803)	(17,914,657)
Other income (expenses)
Foreign exchange loss	(19,383)	(31,093)
Interest and miscellaneous income	8,869	10,001
Interest expense	(1,793,237)	(903,890)
Loss before income taxes	(19,999,554)	(18,839,639)
Income tax benefit	684,206	1,936,756
Net loss	$ (19,315,348)	$ (16,902,883)
Net loss per share
Basic and diluted (in dollars per share)	$ (0.57)	$ (0.62)
Weighted average of common shares outstanding
Basic and diluted (in shares)	33,949,956	27,422,460

Consolidated Statements of Stoc

Consolidated Statements 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, 2013	$ 23,464,487	$ 26,036	$ 1,083,193	$ 155,953,894	$ (1,133,266)	$ (132,465,370)
Balance (in shares) at Dec. 31, 2013		26,035,596
Stock-based compensation	1,350,243	$ 0	0	1,350,243	0	0
Issued for cash on exercise of stock options	100,639	$ 43	0	100,596	0	0
Issued for cash on exercise of stock options (in shares)		42,936
Issued for cash, net of stock issuance costs	13,571,820	$ 7,602	0	13,564,218	0	0
Issued for cash, net of stock issuance costs (in share)		7,602,823
Stock issued for payment of accrued bonuses	0
Warrants Issued	320,752	$ 0	0	320,752	0	0
Net loss for the period	(16,902,883)	0	0	0	0	(16,902,883)
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	1,802,872	$ 0	0	1,802,872	0	0
Issued for cash on exercise of stock options	129,751	$ 58	0	129,693	0	0
Issued for cash on exercise of stock options (in shares)		57,667
Issued for cash, net of stock issuance costs	1,762,840	$ 1,144	0	1,761,696	0	0
Issued for cash, net of stock issuance costs (in share)		1,144,611
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
Warrants Issued	76,897	$ 0	0	76,897	0	0
Net loss for the period	(19,315,348)	0	0	0	0	(19,315,348)
Balance at Dec. 31, 2015	$ 6,530,913	$ 34,944	$ 1,083,193	$ 175,229,643	$ (1,133,266)	$ (168,683,601)
Balance (in shares) at Dec. 31, 2015		34,944,150

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Operating activities
Net loss	$ (19,315,348)	$ (16,902,883)
Adjustments to reconcile net loss to net cash used in operating activities
Amortization and depreciation	198,282	195,492
Non-cash stock-based compensation expense	1,802,872	1,350,243
Loss on disposal of property and equipment	0	77,624
Non-cash financing costs	431,660	259,926
Changes in operating assets and liabilities
Other receivables	(54,885)	1,392,463
Prepaid expenses and deposits	58,216	7,632
Restricted cash	39,966	90,000
Other current assets	43,374	10,111
Other assets	(38,908)	0
Accounts payable	65,168	(462,045)
Accrued liabilities	840,795	120,104
Other liabilities	981,585	(7,676)
Deferred revenue	(542,986)	(542,987)
Cash used in operating activities	(15,490,209)	(14,411,996)
Investing activities
Purchase of property and equipment	(55,360)	(64,865)
Cash used in by investing activities	(55,360)	(64,865)
Financing activities
Proceeds from issuance of common stock and on options exercised	2,079,765	14,929,892
Payment of share issuance costs	(187,174)	(1,253,685)
Proceeds from loans payable	5,000,000	9,827,216
Payment of debt issuance costs	(50,000)	(184,469)
Repayments of loans payable	(427,442)	0
Cash provided by financing activities	6,415,149	23,318,954
Effect of foreign exchange rate changes	(30,029)	(17,832)
Net change in cash	(9,160,449)	8,824,261
Cash and cash equivalents, beginning of year	32,413,777	23,589,516
Cash and cash equivalents, end of year	23,253,328	32,413,777
Supplemental disclosure of cash flow information
Interest paid	1,321,667	560,624
Warrants issued in connection with debt issuance costs	76,897	320,752
Common stock issued in payment of accrued bonuses	$ 168,843	$ 0

Nature of Business and Liquidit

Nature of Business and Liquidity	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Nature of Operations [Text Block]	1. Nature of Business and Liquidity Celator Pharmaceuticals, Inc. is an oncology-focused biopharmaceutical company that is transforming the science of combination therapy, and developing products to improve patient outcomes in cancer. Our 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 after administration and ensure its exposure to the tumor. Our lead product is VYXEOS, a nano-scale liposomal formulation of cytarabine:daunorubicin, in Phase 3 clinical testing for the treatment of acute myeloid leukemia (AML). We have also conducted clinical development on CPX-1, a nano-scale liposomal formulation of irinotecan:floxuridine for the treatment of colorectal cancer; and have a preclinical stage product candidate, CPX-8, a hydrophobic docetaxel prodrug nanoparticle formulation. More recently, we have advanced the CombiPlex platform and broadened its application to include molecularly targeted therapies. The Company has incurred recurring losses and negative cash flows from operations since inception. As of December 31, 2015, the Company had an accumulated deficit of $168.7 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. Management believes that the cash and cash equivalents of $23.3 million at December 31, 2015 and $9.8 million of net proceeds from the sale of common stock during the first quarter of 2016 (see note 9) will be sufficient to meet estimated working capital requirements and fund operations into the second quarter of 2017. 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. There is no assurance that such financing will be available when needed or on acceptable terms. 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 Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
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. 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. Milestone Method-Recognition Derivatives and Hedging Income Taxes Income Taxes 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). ASC 820 Fair Value Measurements 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 Fair Value (Level 1) (Level 2) (Level 3) December 31, 2015 Assets: Money Market Fund $ 22,162,678 $ 22,162,678 $ — $ — December 31, 2014 Assets: Money Market Fund $ 29,500,819 $ 29,500,819 $ — $ — In November 2015, the FASB issued guidance which requires entities with a classified balance sheet to present all deferred tax assets and liabilities as noncurrent. The guidance is effective for public business entities for interim and annual periods in fiscal years beginning after December 15, 2016. This guidance is not expected to have a material impact on the Company’s consolidated financial position, results of operations or cash flows. In April 2015, the 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 will not early adopt. We are currently evaluating the impact of the adoption of this guidance on our consolidated financial statements. In August 2014, the FASB issued guidance on management’s responsibility in evaluating whether there is substantial doubt about a company’s ability to continue as a going concern and about related footnote disclosures. For each reporting period, management will be required to evaluate whether there are conditions or events that raise substantial doubt about a company’s ability to continue as a going concern within one year from the date the financial statements are issued. The guidance is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter.

Other Current Assets

Other Current Assets	12 Months Ended
	Dec. 31, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Current Assets [Text Block]	3. Other Current Assets Other current assets as of December 31, 2015 and 2014, consists of the following: 2015 2014 Clinical trial materials $ 414,904 $ 458,278

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2015
Property Plant And Equipment [Abstract]
Property Plant And Equipment Disclosure [Text Block]	4. Property and Equipment Property and equipment as of December 31, 2015 and 2014, including assets held under capital lease, consists of the following: 2015 2014 Computer and equipment $ 117,135 $ 144,138 Furniture and office equipment 73,863 96,457 Laboratory equipment 1,754,608 1,723,331 Capital lease equipment 155,524 155,524 Leaseholds 54,732 37,789 2,155,862 2,157,239 Less: Accumulated depreciation (1,294,372 ) (1,152,827 ) $ 861,490 $ 1,004,412 During the years ended December 31, 2015 and 2014, depreciation and amortization expense was $198,282 and $195,492 respectively. In February 2012, the Company closed a laboratory and consigned certain property and equipment for sale. During 2014, the Company wrote off the net book value of the remaining consigned equipment of $74,086. The Company determined that the carrying amount of these assets as of December 31, 2014 was not recoverable and less than the fair value less the cost to sell. In addition, during 2014, the Company wrote off other property and equipment and incurred a loss of $3,538.

Other Assets

Other Assets	12 Months Ended
	Dec. 31, 2015
Other Assets, Noncurrent Disclosure [Abstract]
Other Assets Disclosure [Text Block]	5. Other Assets Other assets as of December 31, 2015 and 2014 consist of the following: 2015 2014 Deferred financing costs (see Note 8) $ 416,712 $ 539,296 Other non-current assets 43,998 5,205 $ 460,710 $ 544,501

Accrued Liabilities

Accrued Liabilities	12 Months Ended
	Dec. 31, 2015
Payables And Accruals [Abstract]
Accounts Payable And Accrued Liabilities Disclosure [Text Block]	6. Accrued Liabilities Accrued liabilities as of December 31, 2015 and 2014, consists of the following: 2015 2014 Accrued clinical trial expenses $ 1,029,488 $ 633,395 Accrued bonuses 723,039 816,144 Accrued salaries and vacation 202,059 152,700 Accrued drug manufacturing expenses 174,376 — Interest payable 123,867 83,958 Accrued other 124,884 49,223 $ 2,377,713 $ 1,735,420

Other Liabilities

Other Liabilities	12 Months Ended
	Dec. 31, 2015
Other Liabilities Disclosure [Abstract]
Other Liabilities Disclosure [Text Block]	7. Other Liabilities Other liabilities as of December 31, 2015 and 2014, consists of the following: 2015 2014 Non-current income tax liability (see Note 12) $ 991,654 $ — Deferred rent 35,339 45,408 $ 1,026,993 $ 45,408

Loans Payable

Loans Payable	12 Months Ended
	Dec. 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 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 U.S. prime rate with interest only period until December 1, 2015. The funds will be used to provide general working capital. During 2015, the interest rate paid by the Company ranged from 9.75% to 10%. 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 $407,253 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 $249,479 and $138,709 for the year ended December 31, 2015 and 2014, respectively. The remaining unamortized debt issuance costs of $416,712 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 becomes 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 $182,181 and $121,217 of this fee during the years ended December 2015 and 2014, respectively. Long-term debt as of December 31, 2015 and 2014 consists of the following: 2015 2014 Loan payable $ 14,572,558 $ 10,000,000 End of term fee 303,398 121,217 14,875,956 10,121,217 Less: Current portion (5,378,134 ) (284,961 ) Accrued end of term fee $ 9,497,822 $ 9,836,256 The summary of payments due on the term loan as of December 31, 2015, is as follows: 2016 $ 5,378,134 2017 5,951,817 2018 3,835,107 Total loan payments 15,165,058 Less end of term payment (592,500 ) Long-term debt $ 14,572,558

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	9. Stockholders’ Equity At-The-Market Equity Offering Program On October 16, 2015, the Company entered into a Controlled Equity Offering Sales Agreement (the “Sales Agreement”) with Cantor Fitzgerald & Co. (“Cantor”) to sell shares of common stock with aggregate gross proceeds of up to $20.0 million, from time to time, through an “at-the-market” equity offering program under which Cantor will act as sales agent. The Sales Agreement provides that Cantor will be entitled to compensation for its services in an amount equal to 3.0% of the gross proceeds from the sales of shares sold under the Sales Agreement. During 2015, the Company sold 1,144,611 shares of common stock under the Sales Agreement at an average price of approximately $1.76 per share for gross proceeds of $2.0 million and net proceeds of approximately $1.9 million after deducting Cantor’s commission. In addition, the Company incurred share issuance costs of $187,174 in connection with the Sale Agreement. During the first quarter of 2016, the Company sold 1,353,900 shares of common stock under the Sales Agreement at $7.43 per share for gross proceeds of $10.1 million and net proceeds of $9.8 million, after deducting Cantor’s commission. As of March 16, 2016, $7.9 million of common stock remains available to be sold under this facility. Public Offering of Common Stock and Warrants to Purchase Common Stock On October 28, 2014, the Company completed a public offering of 7,602,823 shares of common stock and warrants to purchase up to 760,282 shares of its common stock, including the exercise in full of the underwriters’ overallotment option to purchase up to an additional 991,673 shares of common stock and warrants to purchase 99,167 shares of common stock. The shares of common stock and warrants were offered in units consisting of one share of common stock and a warrant to purchase 0.10 of a share of common stock at a price of $1.95 per unit. The Company received approximately $13.6 million in net proceeds from the public offering after payment of fees, expenses and underwriting expenses. The shares of common stock and the warrants were immediately separable and were issued separately. The warrants have an exercise price of $3.58 per share and have a term of five years. In addition, the Company issued to the underwriters, underwriter warrants to purchase 114,042 shares of common stock at an exercise price of $3.58 per share. Other Stock Issuances In February 2015, the Company issued 60,517 shares of common stock to certain Company employees as payment of $168,843 of bonuses earned and accrued as of December 31, 2014. Warrants The following table summarizes the warrants outstanding to purchase common stock at December 31, 2015: Issue date Number of Exercise Term March 2009 12,445 $ 11.25 7 years December 2011 123,585 $ 5.21 7 years February 2012 3,700 $ 5.21 6 years June 2012 17,267 $ 5.21 7 years August 2012 112,536 $ 5.21 7 years April 2013 161,327 $ 5.21 7 years April 2013 3,977,290 $ 3.58 7 years May 2014 158,006 $ 2.67 5 years October 2014 874,324 $ 3.58 5 years March 2015 52,669 $ 2.67 5 years 5,493,149

Stock Based Compensation

Stock Based Compensation	12 Months Ended
	Dec. 31, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	10. Stock Based Compensation 2013 Equity Incentive Plan In 2013, the Company adopted the Celator Pharmaceuticals, Inc. 2013 Equity Incentive Plan (the “Plan”) and the number of shares authorized for awards of equity options or other equity instruments under this Plan are 5,353,885. At December 31, 2015, 1,409,314 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 stock option plans for the years ended December 31, 2015 and 2014: Number of Weighted Weighted Aggregate Outstanding at December 31, 2013 2,578,252 $ 2.98 Granted 502,100 3.13 Exercised (42,936 ) 2.34 Cancelled (32,129 ) 2.97 Outstanding at December 31, 2014 3,005,287 $ 3.02 Granted 1,209,500 2.51 Exercised (57,667 ) 2.25 Cancelled (212,549 ) 2.58 Outstanding at December 31, 2015 3,944,571 $ 2.90 7.5 $ 7,804 Exercisable at December 31, 2015 1,860,211 $ 2.98 6.2 $ 7,444 The following table summarizes stock options outstanding as of December 31, 2015: Range of exercise price Number Average Remaining Number Average $1.12 – $2.00 17,632 $ 1.35 6.3 12,382 $ 1.17 $2.01 – $3.00 1,673,945 2.50 7.7 470,973 2.39 $3.01 – $4.00 2,252,994 3.20 7.3 1,376,856 3.20 3,944,571 $ 2.90 7.5 1,860,211 $ 2.98 A summary of unvested awards activity during the year ended December 31, 2015 is as follows: Number Grant date January 1, 2015 1,653,231 $ 4,011,363 Granted 1,209,500 2,433,675 Vested (724,246 ) (1,706,302 ) Forfeited (54,125 ) (132,311 ) December 31, 2015 2,084,360 $ 4,606,425 The following table provides information regarding stock options activity for the year ended December 31, 2015 and 2014: Year ended December 31, 2015 2014 Stock compensation expense recognized $ 1,802,872 $ 1,350,243 Weighted average grant-date fair value of stock options issued $ 2.01 $ 2.68 Grant-date fair value of stock options issued $ 2,433,675 $ 1,343,817 Intrinsic value of stock options exercised $ — $ 32,892 Volatility 101.3 % 114.4 % Risk-free interest rate 1.7 % 2.0 % Dividend yield 0.0 % 0.0 % Expected life in years 6.0 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, 2015, the total compensation cost related to non-vested awards not yet recognized and weighted average period over which it will be recognized was $4,140,214 and 2.3 years, respectively.

Benefit Plans

Benefit Plans	12 Months Ended
	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	11. Benefit Plans The Company has a domestic employee 401K savings plan. Beginning in 2014, the Company matches 50% of each employee’s contribution up to a maximum of 6% of the employee’s earnings for contributions made to the domestic 401K savings plan and to individual registered retirement savings plans in Canada. The Company’s matching contributions to the savings plan were $105,118 and $111,509 during the year ended December 2015 and 2014, respectively.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	12. Income Taxes Loss before income taxes consisted of the following: Year ended December 31, 2015 2014 Domestic $ (18,008,614 ) $ (16,710,376 ) Foreign (1,990,940 ) (2,129,263 ) Total $ (19,999,554 ) $ (18,839,639 ) A reconciliation of the Statutory United States Federal income tax rate to the Company’s effective rate and for December 31, 2015 and 2014 is as follows: Year ended December 31, 2015 2014 Loss before income taxes $ (19,999,554 ) $ (18,839,639 ) Federal rate 34 % 34 % US Federal statutory tax rate 6,799,848 6,405,477 State, net of federal rate 319,677 837,307 Permanent differences (1,853,876 ) (1,030,698 ) Research and development tax credits 12,658,628 833,271 Other (1,513,036 ) 386,594 Changes to valuation allowances (15,727,035 ) (5,495,195 ) $ 684,206 $ 1,936,756 In 2015 and 2014, 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 $1,675,860 and $1,936,756, 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, 2015 and 2014 are as follows: December 31, 2015 2014 Net operating loss carry forwards $ 42,503,179 $ 43,176,150 Federal orphan drug tax credit 17,939,199 — Research and development loss pool carry forwards 2,744,381 3,512,452 Deferred revenue 18,071 229,410 Accrued expenses and other 76,972 440,341 Stock based compensation 306,733 1,094,135 Property and equipment (205,821 ) (267,909 ) R&D and investment tax credit carry forwards 1,654,334 1,125,434 Deferred tax assets $ 65,037,048 $ 49,310,013 Deferred tax assets valuation allowance $ (65,037,048 ) $ (49,310,013 ) $ — $ — The valuation allowance at December 31, 2015 and 2014 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, 2015, the Company had net operating loss carryforwards for Federal income tax purposes of $121,079,168 which are available to offset future Federal taxable income and begin to expire in 2023. The Company has net operating loss carryforwards for state income tax purposes of $16,819,859 which are available to offset future state taxable income through 2035. In 2015, the Company completed a U.S. Federal and State of New Jersey Research and Development and U.S. Federal Orphan Drug tax credits analysis related to the years ended December 31, 2008 through 2014. At December 31, 2015, the Company has U.S. Federal and State of New Jersey Research and Development tax credits carryforwards of $1,182,961 and $94,451 respectively. The U.S. and State of New Jersey Research and Development tax credits carryforwards begin to expire in 2026 and 2031 respectively. In addition, the Company has U.S. Federal Orphan Drug tax credits of $17,939,199 which begin to expire in 2029. The Company will claim the U.S. Federal Research and Development and Orphan Drug tax credits in the future on U.S. Federal tax returns. As a result, the Company will file New Jersey tax returns to report an income tax liability and interest of $991,654 which has been recorded through the income tax provision and as other liabilities on the accompanying balance sheet.

Geographic Segment Information

Geographic Segment Information	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	13. Geographic Segment Information The Company operates in the United States and Canada. The Company’s VYXEOS 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, 2015 2014 United States $ 24,673,341 $ 34,027,837 Canada 204,283 223,572 Germany 757,560 867,694 Total Assets $ 25,635,184 $ 35,119,103 Net Loss Year ended December 31, 2015 2014 United States $ (17,324,408 ) $ (14,773,620 ) Canada (1,990,940 ) (2,129,263 ) Total Net Loss $ (19,315,348 ) $ (16,902,883 )

Leukemia and Lymphoma Society f

Leukemia and Lymphoma Society funding	12 Months Ended
	Dec. 31, 2015
Research and Development [Abstract]
Research And Development And License Agreement [Text Block]	14. Leukemia and Lymphoma Society funding In June 2012, the Company entered into an agreement with the Leukemia & Lymphoma Society® (“LLS”) pursuant to which the LLS is providing $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 VYXEOS. 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 which was January 2016. During the years ended December 31, 2015 and 2014, the Company recognized $542,986 for both years related to the amortization of the upfront payment. During 2015, the Company met one milestone under the agreement which resulted in the recognition of $0.9 million, and in 2014, the Company met two separate milestones which resulted in the recognition of $1.0 million which was recorded as Leukemia & Lymphoma Society funding. Since November 2012, the Company has received a total of $2.9 million for milestones achieved under this agreement. The agreement remains in effect until the completion of the milestones unless terminated earlier 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 VYXEOS 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, 2015
Commitments And Contingencies Disclosure [Abstract]
Commitments And Contingencies Disclosure [Text Block]	15. Commitments and Contingencies In September 2015, the Company entered into a lease agreement for office and laboratory space in Vancouver, British Columbia, which expires in August 2017. The remaining minimum lease payments as of December 31, 2015 were $176,000. The Company also vacated its previous lease for office space effective October 1, 2015. The vacated lease expires in June 2016. The Company recognized contract termination costs of $22,670 for the remaining lease payments which has been recorded in general and administration expenses. 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, 2015 were $357,000. 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 and the deposit is reduced annually through lease expiration date. The restricted deposit balance as of December 31, 2015 was $120,000. Year ending December 31, 2016 $ 257,249 2017 216,130 2018 72,372 Total $ 545,751 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 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 Accoun22

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]
Use of Estimates, Policy [Policy Text Block]	Use of estimates:
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign currency translation and transactions:
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and cash equivalents:
Property, Plant and Equipment, Policy [Policy Text Block]	Property and equipment: 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:
Collaborative Arrangement, Accounting Policy [Policy Text Block]	Research collaboration funding: Milestone Method-Recognition
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-based compensation:
Derivatives, Policy [Policy Text Block]	Warrants: Derivatives and Hedging
Earnings Per Share, Policy [Policy Text Block]	Loss per share:
Income Tax, Policy [Policy Text Block]	Income taxes: Income Taxes Income Taxes 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: ASC 820 Fair Value Measurements 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 Fair Value (Level 1) (Level 2) (Level 3) December 31, 2015 Assets: Money Market Fund $ 22,162,678 $ 22,162,678 $ — $ — December 31, 2014 Assets: Money Market Fund $ 29,500,819 $ 29,500,819 $ — $ —
Segment Reporting, Policy [Policy Text Block]	Segment reporting:
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncement: In November 2015, the FASB issued guidance which requires entities with a classified balance sheet to present all deferred tax assets and liabilities as noncurrent. The guidance is effective for public business entities for interim and annual periods in fiscal years beginning after December 15, 2016. This guidance is not expected to have a material impact on the Company’s consolidated financial position, results of operations or cash flows. In April 2015, the 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 will not early adopt. We are currently evaluating the impact of the adoption of this guidance on our consolidated financial statements. In August 2014, the FASB issued guidance on management’s responsibility in evaluating whether there is substantial doubt about a company’s ability to continue as a going concern and about related footnote disclosures. For each reporting period, management will be required to evaluate whether there are conditions or events that raise substantial doubt about a company’s ability to continue as a going concern within one year from the date the financial statements are issued. The guidance is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter.

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Fair Value, by Balance Sheet Grouping [Table Text Block]	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) December 31, 2015 Assets: Money Market Fund $ 22,162,678 $ 22,162,678 $ — $ — December 31, 2014 Assets: Money Market Fund $ 29,500,819 $ 29,500,819 $ — $ —

Other Current Assets (Tables)

Other Current Assets (Tables)	12 Months Ended
	Dec. 31, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Current Assets [Table Text Block]	Other current assets as of December 31, 2015 and 2014, consists of the following: 2015 2014 Clinical trial materials $ 414,904 $ 458,278

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2015
Property Plant And Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	Property and equipment as of December 31, 2015 and 2014, including assets held under capital lease, consists of the following: 2015 2014 Computer and equipment $ 117,135 $ 144,138 Furniture and office equipment 73,863 96,457 Laboratory equipment 1,754,608 1,723,331 Capital lease equipment 155,524 155,524 Leaseholds 54,732 37,789 2,155,862 2,157,239 Less: Accumulated depreciation (1,294,372 ) (1,152,827 ) $ 861,490 $ 1,004,412

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2015
Other Assets, Noncurrent Disclosure [Abstract]
Schedule of Other Assets, Noncurrent [Table Text Block]	Other assets as of December 31, 2015 and 2014 consist of the following: 2015 2014 Deferred financing costs (see Note 8) $ 416,712 $ 539,296 Other non-current assets 43,998 5,205 $ 460,710 $ 544,501

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2015
Payables And Accruals [Abstract]
Schedule of Accrued Liabilities [Table Text Block]	Accrued liabilities as of December 31, 2015 and 2014, consists of the following: 2015 2014 Accrued clinical trial expenses $ 1,029,488 $ 633,395 Accrued bonuses 723,039 816,144 Accrued salaries and vacation 202,059 152,700 Accrued drug manufacturing expenses 174,376 — Interest payable 123,867 83,958 Accrued other 124,884 49,223 $ 2,377,713 $ 1,735,420

Other Liabilities (Tables)

Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2015
Other Liabilities Disclosure [Abstract]
Other Liabilities [Table Text Block]	Other liabilities as of December 31, 2015 and 2014, consists of the following: 2015 2014 Non-current income tax liability (see Note 12) $ 991,654 $ — Deferred rent 35,339 45,408 $ 1,026,993 $ 45,408

Loans Payable (Tables)

Loans Payable (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	Long-term debt as of December 31, 2015 and 2014 consists of the following: 2015 2014 Loan payable $ 14,572,558 $ 10,000,000 End of term fee 303,398 121,217 14,875,956 10,121,217 Less: Current portion (5,378,134 ) (284,961 ) Accrued end of term fee $ 9,497,822 $ 9,836,256
Schedule of Maturities of Long-term Debt [Table Text Block]	The summary of payments due on the term loan as of December 31, 2015, is as follows: 2016 $ 5,378,134 2017 5,951,817 2018 3,835,107 Total loan payments 15,165,058 Less end of term payment (592,500 ) Long-term debt $ 14,572,558

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2015
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, 2015: Issue date Number of Exercise Term March 2009 12,445 $ 11.25 7 years December 2011 123,585 $ 5.21 7 years February 2012 3,700 $ 5.21 6 years June 2012 17,267 $ 5.21 7 years August 2012 112,536 $ 5.21 7 years April 2013 161,327 $ 5.21 7 years April 2013 3,977,290 $ 3.58 7 years May 2014 158,006 $ 2.67 5 years October 2014 874,324 $ 3.58 5 years March 2015 52,669 $ 2.67 5 years 5,493,149

Stock Based Compensation (Table

Stock Based Compensation (Tables)	12 Months Ended
	Dec. 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 stock option plans for the years ended December 31, 2015 and 2014: Number of Weighted Weighted Aggregate Outstanding at December 31, 2013 2,578,252 $ 2.98 Granted 502,100 3.13 Exercised (42,936 ) 2.34 Cancelled (32,129 ) 2.97 Outstanding at December 31, 2014 3,005,287 $ 3.02 Granted 1,209,500 2.51 Exercised (57,667 ) 2.25 Cancelled (212,549 ) 2.58 Outstanding at December 31, 2015 3,944,571 $ 2.90 7.5 $ 7,804 Exercisable at December 31, 2015 1,860,211 $ 2.98 6.2 $ 7,444
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, 2015: Range of exercise price Number Average Remaining Number Average $1.12 – $2.00 17,632 $ 1.35 6.3 12,382 $ 1.17 $2.01 – $3.00 1,673,945 2.50 7.7 470,973 2.39 $3.01 – $4.00 2,252,994 3.20 7.3 1,376,856 3.20 3,944,571 $ 2.90 7.5 1,860,211 $ 2.98
Schedule of Nonvested Share Activity [Table Text Block]	A summary of unvested awards activity during the year ended December 31, 2015 is as follows: Number Grant date January 1, 2015 1,653,231 $ 4,011,363 Granted 1,209,500 2,433,675 Vested (724,246 ) (1,706,302 ) Forfeited (54,125 ) (132,311 ) December 31, 2015 2,084,360 $ 4,606,425
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, 2015 and 2014: Year ended December 31, 2015 2014 Stock compensation expense recognized $ 1,802,872 $ 1,350,243 Weighted average grant-date fair value of stock options issued $ 2.01 $ 2.68 Grant-date fair value of stock options issued $ 2,433,675 $ 1,343,817 Intrinsic value of stock options exercised $ — $ 32,892 Volatility 101.3 % 114.4 % Risk-free interest rate 1.7 % 2.0 % Dividend yield 0.0 % 0.0 % Expected life in years 6.0 6.2

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
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, 2015 2014 Domestic $ (18,008,614 ) $ (16,710,376 ) Foreign (1,990,940 ) (2,129,263 ) Total $ (19,999,554 ) $ (18,839,639 )
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, 2015 and 2014 is as follows: Year ended December 31, 2015 2014 Loss before income taxes $ (19,999,554 ) $ (18,839,639 ) Federal rate 34 % 34 % US Federal statutory tax rate 6,799,848 6,405,477 State, net of federal rate 319,677 837,307 Permanent differences (1,853,876 ) (1,030,698 ) Research and development tax credits 12,658,628 833,271 Other (1,513,036 ) 386,594 Changes to valuation allowances (15,727,035 ) (5,495,195 ) $ 684,206 $ 1,936,756
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Significant components of the Company’s total deferred tax asset as of December 31, 2015 and 2014 are as follows: December 31, 2015 2014 Net operating loss carry forwards $ 42,503,179 $ 43,176,150 Federal orphan drug tax credit 17,939,199 — Research and development loss pool carry forwards 2,744,381 3,512,452 Deferred revenue 18,071 229,410 Accrued expenses and other 76,972 440,341 Stock based compensation 306,733 1,094,135 Property and equipment (205,821 ) (267,909 ) R&D and investment tax credit carry forwards 1,654,334 1,125,434 Deferred tax assets $ 65,037,048 $ 49,310,013 Deferred tax assets valuation allowance $ (65,037,048 ) $ (49,310,013 ) $ — $ —

Geographic Segment Information

Geographic Segment Information (Tables)	12 Months Ended
	Dec. 31, 2015
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, 2015 2014 United States $ 24,673,341 $ 34,027,837 Canada 204,283 223,572 Germany 757,560 867,694 Total Assets $ 25,635,184 $ 35,119,103 Net Loss Year ended December 31, 2015 2014 United States $ (17,324,408 ) $ (14,773,620 ) Canada (1,990,940 ) (2,129,263 ) Total Net Loss $ (19,315,348 ) $ (16,902,883 )

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments And Contingencies Disclosure [Abstract]
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]	Rent expense amounted to $255,386 in 2015 and $221,867 in 2014. Minimum lease payments on all operating leases are as follows: Year ending December 31, 2016 $ 257,249 2017 216,130 2018 72,372 Total $ 545,751

Nature of Business and Liquid35

Nature of Business and Liquidity (Details Textual) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Nature Of Business And Liquidity [Line Items]
Accumulated deficit		$ (168,683,601)	$ (149,368,253)
Cash and Cash Equivalents, at Carrying Value		23,253,328	32,413,777	$ 23,589,516
Proceeds From Issuance Of Common Stock		$ 2,079,765	$ 14,929,892
Subsequent Event [Member]
Nature Of Business And Liquidity [Line Items]
Proceeds From Issuance Of Common Stock	$ 9,800,000

Summary of Significant Accoun36

Summary of Significant Accounting Policies (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Assets:
Money Market Fund	$ 22,162,678	$ 29,500,819
Fair Value, Inputs, Level 1 [Member]
Assets:
Money Market Fund	22,162,678	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

Summary of Significant Accoun37

Summary of Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Significant Accounting Policies Disclosure [Line Items]
Money Market Funds, at Carrying Value	$ 22,162,678	$ 29,500,819
Computer Equipment [Member]
Significant Accounting Policies Disclosure [Line Items]
Property, Plant and Equipment, Useful Life	4 years
Furniture And Fixtures [Member]
Significant Accounting Policies Disclosure [Line Items]
Property, Plant and Equipment, Useful Life	7 years
Laboratory Equipment [Member]
Significant Accounting Policies Disclosure [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Capital lease equipment and Leasehold improvements [Member]
Significant Accounting Policies Disclosure [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	Lesser of useful life or term of lease

Other Current Assets (Details)

Other Current Assets (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Other Current Assets [Line Items]
Clinical trial materials	$ 414,904	$ 458,278

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,155,862	$ 2,157,239
Less: Accumulated depreciation	(1,294,372)	(1,152,827)
Property and equipment, net	861,490	1,004,412
Computer and equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	117,135	144,138
Furniture and office equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	73,863	96,457
Laboratory equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,754,608	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	$ 54,732	$ 37,789

Property and Equipment (Detai40

Property and Equipment (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Depreciation And Amortization	$ 198,282	$ 195,492
Gain Loss On Sale Of Property Plant Equipment	$ 0	(77,624)
Assets Held for Sale [Member]
Property, Plant and Equipment [Line Items]
Gain (Loss) on Sale of Assets and Asset Impairment Charges		74,086
Property, Plant and Equipment, Other Types [Member]
Property, Plant and Equipment [Line Items]
Gain Loss On Sale Of Property Plant Equipment		$ 3,538

Other Assets (Details)

Other Assets (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Schedule Of Other Assets Noncurrent [Line Items]
Deferred financing costs (see Note 8)	$ 416,712	$ 539,296
Other non-current assets	43,998	5,205
Assets, Noncurrent	$ 460,710	$ 544,501

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Accrued Liabilities [Line Items]
Accrued clinical trial expenses	$ 1,029,488	$ 633,395
Accrued bonuses	723,039	816,144
Accrued salaries and vacation	202,059	152,700
Accrued drug manufacturing expenses	174,376	0
Interest payable	123,867	83,958
Accrued other	124,884	49,223
Accrued liabilities	$ 2,377,713	$ 1,735,420

Other Liabilities (Details)

Other Liabilities (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Other Liabilities [Line Items]
Non-current income tax liability (see Note 12)	$ 991,654	$ 0
Deferred rent	35,339	45,408
Other Liabilities	$ 1,026,993	$ 45,408

Loans Payable (Details)

Loans Payable (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Loan payable	$ 14,572,558	$ 10,000,000
End of term fee	303,398	121,217
Total loan payments	14,875,956	10,121,217
Less: Current portion	(5,378,134)	(284,961)
Accrued end of term fee	$ 9,497,822	$ 9,836,256

Loans Payable (Details 1)

Loans Payable (Details 1)	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
2,016	$ 5,378,134
2,017	5,951,817
2,018	3,835,107
Total loan payments	15,165,058
Less end of term payment	(592,500)
Long-term debt	$ 14,572,558

Loans Payable (Details Textual)

Loans Payable (Details Textual) - USD ($)	May. 09, 2014	Mar. 30, 2015	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Amortization Of Financing Costs And Discounts			$ 431,660	$ 259,926
Deferred Finance Costs, Noncurrent, Net			$ 416,712	539,296
Warrant Exercisable Term			May 9, 2019
Proceeds From Issuance Of Debt			$ 5,000,000	9,827,216
Hercules Technology Growth Capital [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Fair Value of Amount Outstanding	$ 10,000,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 15,000,000
Long-term Debt, Maturities, Repayment Terms	repayable in installments over forty-eight months including an 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 U.S. prime rate with interest only period until December 1, 2015.
Warrants Maturity Term			5 years
Proceeds From Issuance Of Debt		$ 5,000,000
Hercules Technology Growth Capital [Member] | Minimum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate During Period			9.75%
Hercules Technology Growth Capital [Member] | Maximum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate During Period			10.00%
Hercules Technology Growth Capital [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Amortization Of Financing Costs And Discounts			$ 249,479	138,709
Deferred Finance Costs, Noncurrent, Net			$ 416,712
Hercules Technology Growth Capital [Member] | Warrant [Member]
Debt Instrument [Line Items]
Stock Issued During Period, Shares, New Issues			210,675
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 2.67
Debt Issuance Cost			$ 397,649
Hercules Technology Growth Capital [Member] | Term Loans [Member]
Debt Instrument [Line Items]
Debt Issuance Cost			407,253
Hercules Technology Growth Capital [Member] | End of Term Fees [Member]
Debt Instrument [Line Items]
Amortization Of Financing Costs And Discounts			182,181	$ 121,217
Debt Issuance Cost			$ 592,500

Stockholders' Equity (Details)

Stockholders' Equity (Details)	12 Months Ended
	Dec. 31, 2015$ / sharesshares
Class of Warrant or Right, Outstanding	5,493,149
March 2009 [Member]
Class of Warrant or Right, Outstanding	12,445
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares	$ 11.25
Warrants Maturity Term	7 years
December 2011 [Member]
Class of Warrant or Right, Outstanding	123,585
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares	$ 5.21
Warrants Maturity Term	7 years
February 2012 [Member]
Class of Warrant or Right, Outstanding	3,700
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares	$ 5.21
Warrants Maturity Term	6 years
June 2012 [Member]
Class of Warrant or Right, Outstanding	17,267
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares	$ 5.21
Warrants Maturity Term	7 years
August 2012 [Member]
Class of Warrant or Right, Outstanding	112,536
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares	$ 5.21
Warrants Maturity Term	7 years
April 2013 [Member]
Class of Warrant or Right, Outstanding	161,327
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares	$ 5.21
Warrants Maturity Term	7 years
April 2013 One [Member]
Class of Warrant or Right, Outstanding	3,977,290
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares	$ 3.58
Warrants Maturity Term	7 years
May 2014 [Member]
Class of Warrant or Right, Outstanding	158,006
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares	$ 2.67
Warrants Maturity Term	5 years
October 2014 [Member]
Class of Warrant or Right, Outstanding	874,324
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares	$ 3.58
Warrants Maturity Term	5 years
March 2015 [Member]
Class of Warrant or Right, Outstanding	52,669
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares	$ 2.67
Warrants Maturity Term	5 years

Stockholders' Equity (Details T

Stockholders' Equity (Details Textual) - USD ($)	1 Months Ended			3 Months Ended	12 Months Ended
	Oct. 16, 2015	Feb. 28, 2015	Oct. 28, 2014	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Mar. 18, 2016
Schedule Of Shareholders Equity [Line Items]
Stock Issued During Period, Value, New Issues					$ 1,762,840	$ 13,571,820
Proceeds From Issuance Of Common Stock					2,079,765	14,929,892
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures, Total		60,517
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures, Total		$ 168,843
Common Stock [Member]
Schedule Of Shareholders Equity [Line Items]
Stock Issued During Period, Value, New Issues					$ 1,144	$ 7,602
Stock Issued During Period, Shares, New Issues					1,144,611	7,602,823
Warrant [Member]
Schedule Of Shareholders Equity [Line Items]
Stock Issued During Period, Value, New Issues					$ 0	$ 0
Subsequent Event [Member]
Schedule Of Shareholders Equity [Line Items]
Proceeds From Issuance Of Common Stock				$ 9,800,000
Controlled Equity Offering Sales Agreement [Member]
Schedule Of Shareholders Equity [Line Items]
Stock Issued During Period, Value, New Issues					$ 2,000,000
Commission Percentage On Gross Proceeds	3.00%
Stock Issued During Period, Shares, New Issues					1,144,611
Shares Issued, Price Per Share					$ 1.76
Proceeds From Issuance Of Common Stock					$ 1,900,000
Payments of Stock Issuance Costs					$ 187,174
Maximum Common Stock Available To Be Sold	$ 20,000,000
Controlled Equity Offering Sales Agreement [Member] | Subsequent Event [Member]
Schedule Of Shareholders Equity [Line Items]
Stock Issued During Period, Value, New Issues				$ 10,100,000
Stock Issued During Period, Shares, New Issues				1,353,900
Shares Issued, Price Per Share				$ 7.43
Proceeds From Issuance Of Common Stock				$ 9,800,000
Remaining Common Stock Available To Be Sold							$ 7,900,000
Public Offering [Member]
Schedule Of Shareholders Equity [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 1.95
Public Offering [Member] | Common Stock [Member]
Schedule Of Shareholders Equity [Line Items]
Stock Issued During Period, Shares, New Issues			7,602,823
Public Offering [Member] | Warrant [Member]
Schedule Of Shareholders Equity [Line Items]
Stock Issued During Period, Shares, New Issues			760,282
Warrants Conversion Ratio			$ 0.10
Public Offering [Member] | Underwriters [Member] | Warrant [Member]
Schedule Of Shareholders Equity [Line Items]
Stock Issued During Period, Shares, New Issues			114,042
Proceeds From Issuance Of Common Stock			$ 13,600,000
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 3.58
Warrants Maturity Term			5 years
Public Offering Over Allotment Option [Member] | Common Stock [Member]
Schedule Of Shareholders Equity [Line Items]
Stock Issued During Period, Shares, New Issues			991,673
Public Offering Over Allotment Option [Member] | Warrant [Member]
Schedule Of Shareholders Equity [Line Items]
Stock Issued During Period, Shares, New Issues			99,167

Stock Based Compensation (Detai

Stock Based Compensation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of options, Granted	1,209,500
Stock Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of options, Beginning balance	3,005,287	2,578,252
Number of options, Granted	1,209,500	502,100
Number of options, Exercised	(57,667)	(42,936)
Number of options, Cancelled	(212,549)	(32,129)
Number of options, Ending balance	3,944,571	3,005,287
Number of options, Exercisable	1,860,211
Exercise price, Beginning balance (in dollars per share)	$ 3.02	$ 2.98
Exercise price, Granted (in dollars per share)	2.51	3.13
Exercise pice, Exercised (in dollars per share)	2.25	2.34
Exercise price, Cancelled (in dollars per share)	2.58	2.97
Exercise price, Ending balance (in dollars per share)	2.90	$ 3.02
Exercise price, Exercisable (in dollars per share)	$ 2.98
Weighted Average Remaining Contractual Term, Outstanding (in years)	7 years 6 months
Weighted Average Remaining Contractual Term, Exercisable (in years)	6 years 2 months 12 days
Aggregate Intrinsic Value, outstanding (in dollars)	$ 7,804
Aggregate Intrinsic Value, Exercisable (in dollars)	$ 7,444

Stock Based Compensation (Det50

Stock Based Compensation (Details 1)	12 Months Ended
	Dec. 31, 2015$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of Options Outstanding | shares	3,944,571
Options Outstanding, Weighted Average Exercise Price	$ 2.90
Options Outstanding, Weighted Average Remaining Contractual Life (In Years)	7 years 6 months
Number of Options Exercisable | shares	1,860,211
Options Exercisable, Weighted Average Exercise Price	$ 2.98
Range One [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Range, Lower Limit	1.12
Exercise Price Range, Upper Limit	$ 2
Number of Options Outstanding | shares	17,632
Options Outstanding, Weighted Average Exercise Price	$ 1.35
Options Outstanding, Weighted Average Remaining Contractual Life (In Years)	6 years 3 months 18 days
Number of Options Exercisable | shares	12,382
Options Exercisable, Weighted Average Exercise Price	$ 1.17
Range Two [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Range, Lower Limit	2.01
Exercise Price Range, Upper Limit	$ 3
Number of Options Outstanding | shares	1,673,945
Options Outstanding, Weighted Average Exercise Price	$ 2.50
Options Outstanding, Weighted Average Remaining Contractual Life (In Years)	7 years 8 months 12 days
Number of Options Exercisable | shares	470,973
Options Exercisable, Weighted Average Exercise Price	$ 2.39
Range Three [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Range, Lower Limit	3.01
Exercise Price Range, Upper Limit	$ 4
Number of Options Outstanding | shares	2,252,994
Options Outstanding, Weighted Average Exercise Price	$ 3.20
Options Outstanding, Weighted Average Remaining Contractual Life (In Years)	7 years 3 months 18 days
Number of Options Exercisable | shares	1,376,856
Options Exercisable, Weighted Average Exercise Price	$ 3.20

Stock Based Compensation (Det51

Stock Based Compensation (Details 2) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Schedule Of Summary Of Unvested Awards Activity [Line Items]
Number of options, Beginning Balance	1,653,231
Number of options, Granted	1,209,500
Number of options, Vested	(724,246)
Number of options, Forfeited	(54,125)
Number of options, Ending balance	2,084,360	1,653,231
Grant date fair value, Beginning Balance	$ 4,011,363
Grant date fair value, Granted	2,433,675	$ 1,343,817
Grant date fair value, Vested	(1,706,302)
Grant date fair value, Forfeited	(132,311)
Grant date fair value, Ending balance	$ 4,606,425	$ 4,011,363

Stock Based Compensation (Det52

Stock Based Compensation (Details 3) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock compensation expense recognized	$ 1,802,872	$ 1,350,243
Weighted average grant-date fair value of stock options issued (per share)	$ 2.01	$ 2.68
Grant-date fair value of stock options issued	$ 2,433,675	$ 1,343,817
Intrinsic value of stock options exercised	$ 0	$ 32,892
Volatility	101.30%	114.40%
Risk-free interest rate	1.70%	2.00%
Dividend yield	0.00%	0.00%
Expected life in years	6 years	6 years 2 months 12 days

Stock Based Compensation (Det53

Stock Based Compensation (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2013
2013 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 Authorized		5,353,885
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	$ 4,140,214
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 3 months 18 days

Benefit Plans (Details Textual)

Benefit Plans (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Defined Contribution Plan, Employer Matching Contribution, Percent of Match		50.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay		6.00%
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 105,118	$ 111,509

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Taxes [Line Items]
Domestic	$ (18,008,614)	$ (16,710,376)
Foreign	(1,990,940)	(2,129,263)
Total	$ (19,999,554)	$ (18,839,639)

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Effective Income Tax Rate Reconciliation [Line Items]
Loss before income taxes	$ (19,999,554)	$ (18,839,639)
Federal rate	34.00%	34.00%
US Federal statutory tax rate	$ 6,799,848	$ 6,405,477
State, net of federal rate	319,677	837,307
Permanent differences	(1,853,876)	(1,030,698)
Research and development tax credits	12,658,628	833,271
Other	(1,513,036)	386,594
Changes to valuation allowances	(15,727,035)	(5,495,195)
Income Tax Expense (Benefit)	$ 684,206	$ 1,936,756

Income Taxes (Details 2)

Income Taxes (Details 2) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Effective Income Tax Rate Reconciliation [Line Items]
Net operating loss carry forwards	$ 42,503,179	$ 43,176,150
Federal orphan drug tax credit	17,939,199	0
Research and development loss pool carry forwards	2,744,381	3,512,452
Deferred revenue	18,071	229,410
Accrued expenses and other	76,972	440,341
Stock based compensation	306,733	1,094,135
Property and equipment	(205,821)	(267,909)
R&D and investment tax credit carry forwards	1,654,334	1,125,434
Deferred tax assets	65,037,048	49,310,013
Deferred tax assets valuation allowance	(65,037,048)	(49,310,013)
Deferred Tax Assets, Net, Total	$ 0	$ 0

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Taxes [Line Items]
Income tax benefit	$ 684,206	$ 1,936,756
Accrued Income Taxes, Noncurrent	991,654	0
U.S. Research And Development Tax Credits [Member]
Income Taxes [Line Items]
Tax Credit Carryforward, Amount	1,182,961
U.S. Federal Orphan Drug Tax Credits [Member]
Income Taxes [Line Items]
Tax Credit Carryforward, Amount	17,939,199
State and Local Jurisdiction [Member]
Income Taxes [Line Items]
Operating Loss Carryforwards	16,819,859
Tax Credit Carryforward, Amount	94,451
New Jersey Technology [Member]
Income Taxes [Line Items]
Income tax benefit	1,675,860	1,936,756
U.S. [Member]
Income Taxes [Line Items]
Operating Loss Carryforwards	121,079,168
Canadian Federal [Member]
Income Taxes [Line Items]
Investment Tax Credit	$ 376,925	$ 450,999

Geographic Segment Informatio59

Geographic Segment Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Assets	$ 25,635,184	$ 35,119,103
Total Net Loss	(19,315,348)	(16,902,883)
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Assets	24,673,341	34,027,837
Total Net Loss	(17,324,408)	(14,773,620)
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Assets	204,283	223,572
Total Net Loss	(1,990,940)	(2,129,263)
Germany
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Assets	$ 757,560	$ 867,694

Leukemia and Lymphoma Society60

Leukemia and Lymphoma Society funding (Details Textual) - USD ($)	1 Months Ended	12 Months Ended		38 Months Ended
	Jun. 30, 2012	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Deferred Revenue Current		$ 45,249	$ 542,986	$ 45,249
Leukemia And Lymphoma Society Agreement [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Deferred Revenue Current	$ 2,000,000
Potential Future Milestone Payments	3,000,000
Recognition of Deferred Revenue		542,986	542,986
Revenue Recognition, Milestone Method, Revenue Recognized		$ 900,000	$ 1,000,000	$ 2,900,000
Leukemia And Lymphoma Society Agreement [Member] | Phase Three Study [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Development Funding	$ 5,000,000

Commitments and Contingencies61

Commitments and Contingencies (Details)	Dec. 31, 2015USD ($)
Lease Payments [Line Items]
2,016	$ 257,249
2,017	216,130
2,018	72,372
Total	$ 545,751

Commitments and Contingencies62

Commitments and Contingencies (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Jun. 30, 2013
Loss Contingencies [Line Items]
Operating Leases, Future Minimum Payments Due, Total	$ 545,751
Operating Leases, Rent Expense	255,386	$ 221,867
Restricted Investments	120,000
General and Administrative Expense [Member]
Loss Contingencies [Line Items]
Other Restructuring Costs	$ 22,670
Princeton University Agreement [Member]
Loss Contingencies [Line Items]
Agreement termination notice period	90 days
Rectification of default period	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%
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	176,000
Ewing, New Jersey [Member]
Loss Contingencies [Line Items]
Operating Leases, Future Minimum Payments Due, Total	$ 357,000
Letters of Credit Outstanding, Amount			$ 200,000
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