Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 06, 2013 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Trading Symbol | 'CELPHAP | ' |
Entity Registrant Name | 'Celator Pharmaceuticals Inc | ' |
Entity Central Index Key | '0001327467 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 26,026,793 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Current assets | ' | ' |
Cash and cash equivalents | $27,641,470 | $9,648,008 |
Restricted cash | 288,861 | 40,205 |
Other receivables | 9,425 | 2,000,357 |
Prepaid expenses and deposits | 282,452 | 148,275 |
Assets held for sale | 74,086 | 251,269 |
Other current assets | 530,391 | ' |
Total current assets | 28,826,685 | 12,088,114 |
Property and equipment, net | 1,177,516 | 1,245,025 |
Other assets | 30,838 | 105,805 |
Total assets | 30,035,039 | 13,438,944 |
Current liabilities | ' | ' |
Accounts payable | 677,193 | 699,858 |
Accrued liabilities | 1,402,735 | 1,194,998 |
Current portion of deferred revenue | 542,986 | 615,384 |
Current portion of loans | ' | 1,200,000 |
Total current liabilities | 2,622,914 | 3,710,240 |
Deferred revenue | 723,982 | 1,076,924 |
Deferred rent | 23,148 | ' |
Loans payable | ' | 1,800,000 |
Total liabilities | 3,370,044 | 6,587,164 |
Stockholders' equity | ' | ' |
Common stock Authorized 255,000,000 shares, par value $0.001 Issued and outstanding 26,026,793 shares as of September 30, 2013 and 13,673,160 shares as of December 31, 2012 | 26,027 | 13,673 |
Warrants | 1,083,193 | 1,083,193 |
Additional paid-in capital | 155,712,593 | 118,509,395 |
Accumulated other comprehensive loss | -1,133,266 | -1,133,266 |
Deficit accumulated during the development stage | -129,023,552 | -111,621,215 |
Total stockholders' equity | 26,664,995 | 6,851,780 |
Total liabilities and stockholders' equity | $30,035,039 | $13,438,944 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Statement Of Financial Position [Abstract] | ' | ' |
Common stock, authorized shares | 255,000,000 | 255,000,000 |
Common stock, par value | $0.00 | $0.00 |
Common stock, issued shares | 26,026,793 | 13,673,160 |
Common stock, outstanding shares | 26,026,793 | 13,673,160 |
Consolidated_Statement_of_Loss
Consolidated Statement of Loss and Comprehensive Loss (USD $) | 3 Months Ended | 9 Months Ended | 167 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |
Expenses | ' | ' | ' | ' | ' |
Research and development | $2,325,891 | $1,512,855 | $5,995,866 | $3,295,702 | $86,413,531 |
Leukemia & Lymphoma Society funding | -135,746 | -153,846 | -425,339 | -288,846 | -5,881,761 |
Research collaboration income | ' | ' | ' | -19,440 | -2,240,720 |
General and administrative | 1,434,436 | 945,926 | 3,922,084 | 2,845,095 | 41,122,804 |
(Gain) loss on disposal of property and equipment | -12,059 | 30,853 | 126,633 | 50,352 | 898,719 |
Amortization and depreciation | 51,239 | 80,977 | 148,291 | 252,656 | 4,822,521 |
Operating loss | -3,663,761 | -2,416,765 | -9,767,535 | -6,135,519 | -125,135,094 |
Other income (expenses) | ' | ' | ' | ' | ' |
Foreign exchange (loss) gain | -16,745 | ' | -21,229 | -12,413 | 522,019 |
Interest and miscellaneous income | 3,094 | -4,763 | 6,560 | 2,127 | 2,768,529 |
Gain on settlement in exchange of preferred stock | ' | 268 | ' | ' | 1,562,689 |
Non-cash derivative instrument charge | ' | ' | -7,473,108 | ' | -7,473,108 |
Interest expense | ' | -3,793,634 | -147,025 | -4,220,970 | -6,036,317 |
Loss before income taxes | -3,677,412 | -6,214,894 | -17,402,337 | -10,366,775 | -133,791,282 |
Income tax benefit | ' | ' | ' | ' | 6,243,583 |
Net loss incurred in the development stage | -3,677,412 | -6,214,894 | -17,402,337 | -10,366,775 | -127,547,699 |
Other comprehensive loss attributable to foreign exchange translation | ' | ' | ' | ' | -1,133,266 |
Comprehensive loss | -3,677,412 | -6,214,894 | -17,402,337 | -10,366,775 | -128,680,965 |
Accretion on preferred stock | ' | ' | ' | ' | -1,475,853 |
Total comprehensive loss attributable to common stockholders | -3,677,412 | -6,214,894 | -17,402,337 | -10,366,775 | -130,156,818 |
Net loss incurred in the development stage | -3,677,412 | -6,214,894 | -17,402,337 | -10,366,775 | -127,547,699 |
Accretion on preferred stock | ' | ' | ' | ' | -1,475,853 |
Net loss attributable to common stockholders | ($3,677,412) | ($6,214,894) | ($17,402,337) | ($10,366,775) | ($129,023,552) |
Net loss per share | ' | ' | ' | ' | ' |
Basic and diluted | ($0.14) | ($0.47) | ($0.87) | ($0.87) | ' |
Weighted average of common shares outstanding | ' | ' | ' | ' | ' |
Basic and diluted | 26,026,793 | 13,319,077 | 19,977,071 | 11,931,885 | ' |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Total | Common Stock [Member] | Restricted Stock [Member] | Warrants Amount [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Loss [Member] | Deficit Accumulated During The Development Stage [Member] |
Beginning balance at Nov. 18, 1999 | ' | ' | ' | ' | ' | ' | ' |
Beginning balance, shares at Nov. 18, 1999 | ' | ' | ' | ' | ' | ' | ' |
Issued on incorporation | 3,256 | 26 | ' | ' | 3,230 | ' | ' |
Issued on incorporation, shares | ' | 25,802 | ' | ' | ' | ' | ' |
Issued for technology | 202 | 2 | ' | ' | 200 | ' | ' |
Issued for technology, shares | ' | 1,602 | ' | ' | ' | ' | ' |
Issued for cash, net of costs, shares | ' | 8,479 | ' | ' | ' | ' | ' |
Issued for cash, net of costs | 402,697 | 8 | ' | ' | 402,689 | ' | ' |
Foreign currency translation adjustment | -1,987 | ' | ' | ' | ' | -1,987 | ' |
Net loss | -200,050 | ' | ' | ' | ' | ' | -200,050 |
Ending balance at Dec. 31, 2000 | 204,118 | 36 | ' | ' | 406,119 | -1,987 | -200,050 |
Ending balance, shares at Dec. 31, 2000 | ' | 35,883 | ' | ' | ' | ' | ' |
Issued for cash, net of costs, shares | ' | 7,467 | ' | ' | ' | ' | ' |
Issued for cash on exercise of stock options, shares | ' | 55 | ' | ' | ' | ' | ' |
Issued for cash on exercise of stock options | 3,722 | ' | ' | ' | 3,722 | ' | ' |
Issued for cash, net of costs | 1,084,824 | 7 | ' | ' | 1,084,817 | ' | ' |
Foreign currency translation adjustment | -20,689 | ' | ' | ' | ' | -20,689 | ' |
Net loss | -773,668 | ' | ' | ' | ' | ' | -773,668 |
Ending balance at Dec. 31, 2001 | 498,307 | 43 | ' | ' | 1,494,658 | -22,676 | -973,718 |
Ending balance, shares at Dec. 31, 2001 | ' | 43,405 | ' | ' | ' | ' | ' |
Issued for cash, net of costs, shares | ' | 1,118 | ' | ' | ' | ' | ' |
Issued for cash, net of costs | 137,736 | 1 | ' | ' | 137,735 | ' | ' |
Foreign currency translation adjustment | 13,861 | ' | ' | ' | ' | 13,861 | ' |
Net loss | -1,497,719 | ' | ' | ' | ' | ' | -1,497,719 |
Ending balance at Dec. 31, 2002 | -847,815 | 44 | ' | ' | 1,632,393 | -8,815 | -2,471,437 |
Ending balance, shares at Dec. 31, 2002 | ' | 44,523 | ' | ' | ' | ' | ' |
Issued for cash on exercise of stock options, shares | ' | 3,522 | ' | ' | ' | ' | ' |
Issued for cash on exercise of stock options | 8,517 | 4 | ' | ' | 8,513 | ' | ' |
Foreign currency translation adjustment | -484,668 | ' | ' | ' | ' | -484,668 | ' |
Net loss | -3,506,027 | ' | ' | ' | ' | ' | -3,506,027 |
Ending balance at Dec. 31, 2003 | -4,829,993 | 48 | ' | ' | 1,640,906 | -493,483 | -5,977,464 |
Ending balance, shares at Dec. 31, 2003 | ' | 48,045 | ' | ' | ' | ' | ' |
Issued for cash on exercise of stock options, shares | ' | 6,410 | ' | ' | ' | ' | ' |
Issued for cash on exercise of stock options | 15,470 | 6 | ' | ' | 15,464 | ' | ' |
Foreign currency translation adjustment | -811,423 | ' | ' | ' | ' | -811,423 | ' |
Net loss | -5,445,046 | ' | ' | ' | ' | ' | -5,445,046 |
Ending balance at Dec. 31, 2004 | -11,070,992 | 54 | ' | ' | 1,656,370 | -1,304,906 | -11,422,510 |
Ending balance, shares at Dec. 31, 2004 | ' | 54,455 | ' | ' | ' | ' | ' |
Warrants issued on conversion of bridge loan | 425,000 | ' | ' | 425,000 | ' | ' | ' |
Warrants issued on conversion of bridge loan, shares | ' | ' | ' | ' | ' | ' | ' |
Issued on reorganization or for cash | 9,496,690 | 844 | ' | ' | 9,495,846 | ' | ' |
Issued on reorganization or for cash, shares | ' | 844,173 | ' | ' | ' | ' | ' |
Issued on conversion of debt | 2,777,144 | 247 | ' | ' | 2,776,897 | ' | ' |
Issued on conversion of debt, shares | ' | 246,864 | ' | ' | ' | ' | ' |
Issued for cash, net of costs, shares | ' | 3,308,789 | ' | ' | ' | ' | ' |
Issued for cash on exercise of stock options, shares | ' | 12,054 | ' | ' | ' | ' | ' |
Issued for cash on exercise of stock options | 33,146 | 12 | ' | ' | 33,134 | ' | ' |
Issued for cash, net of costs | 36,465,348 | 3,309 | ' | ' | 36,462,039 | ' | ' |
Issued for cash on exercise of warrants | 1,220 | ' | ' | ' | 1,220 | ' | ' |
Issued for cash on exercise of warrants, shares | ' | 108 | ' | ' | ' | ' | ' |
Foreign currency translation adjustment | 171,640 | ' | ' | ' | ' | 171,640 | ' |
Net loss | -8,913,249 | ' | ' | ' | ' | ' | -8,913,249 |
Ending balance at Dec. 31, 2005 | 29,385,947 | 4,466 | ' | 425,000 | 50,425,506 | -1,133,266 | -20,335,759 |
Ending balance, shares at Dec. 31, 2005 | ' | 4,466,443 | ' | ' | ' | ' | ' |
Stock based compensation | 201,989 | ' | ' | ' | 201,989 | ' | ' |
Issued for cash on exercise of stock options, shares | ' | 1,705 | ' | ' | ' | ' | ' |
Issued for cash on exercise of stock options | 4,677 | 2 | ' | ' | 4,675 | ' | ' |
Net loss | -14,588,786 | ' | ' | ' | ' | ' | -14,588,786 |
Ending balance at Dec. 31, 2006 | 15,003,827 | 4,468 | ' | 425,000 | 50,632,170 | -1,133,266 | -34,924,545 |
Ending balance, shares at Dec. 31, 2006 | ' | 4,468,148 | ' | ' | ' | ' | ' |
Stock based compensation | 243,340 | ' | ' | ' | 243,340 | ' | ' |
Issued for cash, net of costs, shares | ' | 888,914 | ' | ' | ' | ' | ' |
Issued for cash on exercise of stock options, shares | ' | 13,748 | ' | ' | ' | ' | ' |
Issued for cash on exercise of stock options | 31,203 | 14 | ' | ' | 31,189 | ' | ' |
Issued for cash, net of costs | 9,977,557 | 889 | ' | ' | 9,976,668 | ' | ' |
Net loss | -16,761,805 | ' | ' | ' | ' | ' | -16,761,805 |
Ending balance at Dec. 31, 2007 | 8,494,122 | 5,371 | ' | 425,000 | 60,883,367 | -1,133,266 | -51,686,350 |
Ending balance, shares at Dec. 31, 2007 | ' | 5,370,810 | ' | ' | ' | ' | ' |
Issued on reorganization or for cash | 4,499 | 1 | ' | ' | 4,498 | ' | ' |
Issued on reorganization or for cash, shares | ' | 1,334 | ' | ' | ' | ' | ' |
Stock based compensation | 186,578 | ' | ' | ' | 186,578 | ' | ' |
Issued for cash, net of costs, shares | ' | 2,014,365 | ' | ' | ' | ' | ' |
Issued for cash on exercise of stock options, shares | ' | 1,159 | ' | ' | ' | ' | ' |
Issued for cash on exercise of stock options | 2,662 | 2 | ' | ' | 2,660 | ' | ' |
Issued for cash, net of costs | 22,566,293 | 2,014 | ' | ' | 22,564,279 | ' | ' |
Issued for cash, restricted stock | 13,501 | ' | 4 | ' | 13,497 | ' | ' |
Issued for cash, restricted stock, shares | ' | ' | 4,000 | ' | ' | ' | ' |
Net loss | -14,028,617 | ' | ' | ' | ' | ' | -14,028,617 |
Ending balance at Dec. 31, 2008 | 17,239,038 | 7,388 | 4 | 425,000 | 83,654,879 | -1,133,266 | -65,714,967 |
Ending balance, shares at Dec. 31, 2008 | ' | 7,387,668 | 4,000 | ' | ' | ' | ' |
Stock based compensation | 200,522 | ' | ' | ' | 200,522 | ' | ' |
Issued for cash on exercise of stock options, shares | ' | 1,432 | ' | ' | ' | ' | ' |
Issued for cash on exercise of stock options | 3,473 | 1 | ' | ' | 3,472 | ' | ' |
Restricted stock transferred to common stock | ' | 1 | -1 | ' | ' | ' | ' |
Restricted stock transferred to common stock, shares | ' | 1,333 | -1,333 | ' | ' | ' | ' |
Warrants issued on signing of loan agreement | 9,333 | ' | ' | 9,333 | ' | ' | ' |
Warrants issued on signing of loan agreement, shares | ' | ' | ' | ' | ' | ' | ' |
Net loss | -10,022,979 | ' | ' | ' | ' | ' | -10,022,979 |
Ending balance at Dec. 31, 2009 | 7,429,387 | 7,390 | 3 | 434,333 | 83,858,873 | -1,133,266 | -75,737,946 |
Ending balance, shares at Dec. 31, 2009 | ' | 7,390,433 | 2,667 | ' | ' | ' | ' |
Stock based compensation | 169,424 | ' | ' | ' | 169,424 | ' | ' |
Issued for cash, net of costs, shares | ' | 2,877,777 | ' | ' | ' | ' | ' |
Issued for cash on exercise of stock options, shares | ' | 423 | ' | ' | ' | ' | ' |
Issued for cash on exercise of stock options | 1,435 | ' | ' | ' | 1,435 | ' | ' |
Issued for cash, net of costs | 14,827,612 | 2,878 | ' | ' | 14,824,734 | ' | ' |
Restricted stock transferred to common stock | -1 | 1 | -2 | ' | ' | ' | ' |
Restricted stock transferred to common stock, shares | ' | 1,334 | -1,334 | ' | ' | ' | ' |
Warrants expired, April 30, 2010 | ' | ' | ' | -425,000 | 425,000 | ' | ' |
Warrants expired, shares April 30, 2010 | ' | ' | ' | ' | ' | ' | ' |
Net loss | -10,814,788 | ' | ' | ' | ' | ' | -10,814,788 |
Ending balance at Dec. 31, 2010 | 11,613,069 | 10,269 | 1 | 9,333 | 99,279,466 | -1,133,266 | -86,552,734 |
Ending balance, shares at Dec. 31, 2010 | ' | 10,269,967 | 1,333 | ' | ' | ' | ' |
Stock based compensation | 114,089 | ' | ' | ' | 114,089 | ' | ' |
Issued for cash, net of costs, shares | ' | 959,261 | ' | ' | ' | ' | ' |
Issued for cash, net of costs | 4,992,861 | 960 | ' | ' | 4,991,901 | ' | ' |
Restricted stock transferred to common stock | ' | 1 | -1 | ' | ' | ' | ' |
Restricted stock transferred to common stock, shares | ' | 1,333 | -1,333 | ' | ' | ' | ' |
Net loss | -14,159,754 | ' | ' | ' | ' | ' | -14,159,754 |
Ending balance at Dec. 31, 2011 | 2,560,265 | 11,230 | ' | 9,333 | 104,385,456 | -1,133,266 | -100,712,488 |
Ending balance, shares at Dec. 31, 2011 | ' | 11,230,561 | ' | ' | ' | ' | ' |
Stock based compensation | 3,210 | ' | ' | ' | 3,210 | ' | ' |
Issued for cash, net of costs, shares | ' | 1,202,276 | ' | ' | ' | ' | ' |
Issued for cash on exercise of stock options, shares | ' | 107 | ' | ' | ' | ' | ' |
Issued for cash on exercise of stock options | 240 | ' | ' | ' | 240 | ' | ' |
Issued for cash, net of costs | 5,925,265 | 1,203 | ' | ' | 5,924,062 | ' | ' |
Investor note converted to common stock | 6,842,144 | 1,240 | ' | ' | 6,840,904 | ' | ' |
Investor note converted to common stock, shares | ' | 1,240,216 | ' | ' | ' | ' | ' |
Conversion of warrant liability and issuance of warrants | 1,073,860 | ' | ' | 1,073,860 | ' | ' | ' |
Beneficial conversion option | 1,355,523 | ' | ' | ' | 1,355,523 | ' | ' |
Net loss | -10,908,727 | ' | ' | ' | ' | ' | -10,908,727 |
Ending balance at Dec. 31, 2012 | 6,851,780 | 13,673 | ' | 1,083,193 | 118,509,395 | -1,133,266 | -111,621,215 |
Ending balance, shares at Dec. 31, 2012 | 13,673,160 | 13,673,160 | ' | ' | ' | ' | ' |
Stock based compensation | 322,069 | ' | ' | ' | 322,069 | ' | ' |
Issued for cash, net of costs, shares | ' | 12,353,633 | ' | ' | ' | ' | ' |
Issued for cash, net of costs | 29,420,375 | 12,354 | ' | ' | 29,408,021 | ' | ' |
Derivative liability reclassification | 7,473,108 | ' | ' | ' | 7,473,108 | ' | ' |
Net loss | -17,402,337 | ' | ' | ' | ' | ' | -17,402,337 |
Ending balance at Sep. 30, 2013 | $26,664,995 | $26,027 | ' | $1,083,193 | $155,712,593 | ($1,133,266) | ($129,023,552) |
Ending balance, shares at Sep. 30, 2013 | 26,026,793 | 26,026,793 | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | 167 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |
Operating activities | ' | ' | ' |
Net loss | ($17,402,337) | ($10,366,775) | ($129,023,552) |
Adjustments to reconcile net loss to net cash used in operating activities | ' | ' | ' |
Amortization and depreciation | 148,291 | 252,656 | 4,822,521 |
Accretion on preferred stock | ' | ' | 1,475,853 |
Non-cash stock-based compensation expense | 322,069 | 2,408 | 1,441,221 |
Gain on settlement of preferred stock | ' | ' | -1,562,689 |
Loss on disposal of property and equipment | 126,633 | 50,352 | 898,719 |
Non-cash derivative instrument charge | 7,473,108 | ' | 7,473,108 |
Non-cash financing costs | 74,751 | 4,193,698 | 4,771,178 |
Changes in operating assets and liabilities | ' | ' | ' |
Other receivables | 1,990,932 | 1,113,711 | -9,425 |
Prepaid expenses and deposits | -134,177 | -101,561 | -282,452 |
Restricted cash | -250,037 | -1,859 | -250,037 |
Other current assets | -530,391 | ' | -530,391 |
Other assets | ' | -54,818 | -105,805 |
Accounts payable | -22,332 | 322,238 | 677,529 |
Accrued liabilities | 208,124 | 37,631 | 1,412,054 |
Deferred rent liability | 23,148 | ' | 23,148 |
Deferred revenue | -425,339 | 1,846,154 | 1,266,968 |
Cash used in operating activities | -8,397,557 | -2,706,165 | -107,502,051 |
Investing activities | ' | ' | ' |
Purchase of property and equipment | -82,009 | -17,912 | -7,420,007 |
Proceeds on disposals of property and equipment | 51,776 | 31,402 | 447,164 |
Cash (used in) provided by investing activities | -30,233 | 13,490 | -6,972,843 |
Financing activities | ' | ' | ' |
Proceeds from issuance of common stock and on options exercised | 32,499,986 | 6,221,345 | 41,015,267 |
Proceeds from issuance of warrants and warrant derivatives | ' | 242 | 500 |
Proceeds from issuance of preferred stock | ' | ' | 102,157,702 |
Payment of share issuance costs | -3,079,611 | -781,931 | -4,971,345 |
Proceeds from loans payable | ' | 5,423,390 | 17,898,295 |
Repayments of capital lease obligation | ' | ' | -163,242 |
Repayments of loans payable | -3,000,000 | ' | -12,735,054 |
Cash provided by financing activities | 26,420,375 | 10,863,046 | 143,202,123 |
Effect of foreign exchange rate changes | 877 | ' | -1,085,759 |
Net change in cash | 17,993,462 | 8,170,371 | 27,641,470 |
Cash and cash equivalents, beginning of period | 9,648,008 | 3,226,778 | ' |
Cash and cash equivalents, end of period | 27,641,470 | 11,397,149 | 27,641,470 |
Supplemental disclosure of cash flow information | ' | ' | ' |
Interest paid | 79,388 | 21,847 | 1,123,204 |
Income taxes paid | ' | ' | 172,451 |
Property and equipment purchased under capital lease | ' | ' | 449,744 |
Preferred stock issued on conversion of debt | ' | ' | 5,337,417 |
Common Stock [Member] | ' | ' | ' |
Supplemental disclosure of cash flow information | ' | ' | ' |
Common stock issued on conversion of debt | ' | $6,842,144 | $6,842,144 |
Nature_of_Business_and_Liquidi
Nature of Business and Liquidity | 9 Months Ended | |
Sep. 30, 2013 | ||
Accounting Policies [Abstract] | ' | |
Nature of Business and Liquidity | ' | |
1 | Nature of Business and Liquidity | |
Celator Pharmaceuticals, Inc. (“Celator” or the “Company”) is a development stage company focused on new therapeutic products for cancer treatment using proprietary technology that recognizes and controls the delivery of efficacious fixed ratios of drug combinations to tumor sites. | ||
The Company has incurred recurring losses and negative cash flows from operations since inception. As of September 30, 2013, the Company had an accumulated deficit of $129.0 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 September 30, 2013, the Company had cash and cash equivalents of $27.6 million. Management believes that the cash and cash equivalents at September 30, 2013 will be sufficient to meet estimated working capital requirements and fund planned operations into the second half of 2015. | ||
The Company is subject to those risks associated with any pharmaceutical company that has substantial expenditures for research and development. There can be no assurance that the Company’s research and development projects will be successful, that products developed will obtain necessary regulatory approval, or that any approved product will be commercially viable. In addition, the Company operates in an environment of rapid technological change and is largely dependent on the services of its employees and consultants. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 9 Months Ended | |
Sep. 30, 2013 | ||
Accounting Policies [Abstract] | ' | |
Summary of Significant Accounting Policies | ' | |
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, 2012. 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 Celator 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, among 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 Pronouncement: In March 2013, the Financial Accounting Standards Board (“FASB”) issued an amendment to the accounting guidance on foreign currency matters in order to clarify the guidance for the release of cumulative translation adjustments. The guidance is effective for interim and annual periods beginning on or after December 15, 2013. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial statements. |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||
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. | |||||||||||||||||
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: | |||||||||||||||||
Fair Value | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
September 30, 2013 | |||||||||||||||||
Assets: | |||||||||||||||||
Certificates of Deposit | $ | 15,001,448 | $ | 15,001,448 | |||||||||||||
Money Market Fund | 11,097,252 | 11,097,252 | |||||||||||||||
Total | $ | 26,098,700 | $ | 26,098,700 | $ | — | $ | — | |||||||||
December 31, 2012 | |||||||||||||||||
Assets: | |||||||||||||||||
Money Market Fund | $ | 9,107,500 | $ | 9,107,500 | $ | — | $ | — | |||||||||
Other_Receivables
Other Receivables | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Text Block [Abstract] | ' | ||||||||
Other Receivables | ' | ||||||||
4 | Other Receivables | ||||||||
Other receivables as of September 30, 2013 and December 31, 2012, consist of the following: | |||||||||
September 30, 2013 | December 31, 2012 | ||||||||
Receivables related to the sale of New Jersey net operating losses | $ | — | $ | 1,363,559 | |||||
Receivables related to value added tax recovery | — | 95,910 | |||||||
Receivables related to the Leukemia & Lymphoma Society funding | — | 500,000 | |||||||
Other receivables | 9,425 | 40,888 | |||||||
$ | 9,425 | $ | 2,000,357 | ||||||
Other_Current_Assets
Other Current Assets | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | ' | ||||||||
Other Current Assets | ' | ||||||||
5 | Other Current Assets | ||||||||
Other current assets as of September 30, 2013 and December 31, 2012 consist of the following: | |||||||||
September 30, 2013 | December 31, 2012 | ||||||||
Clinical trial materials | $ | 530,391 | $ | — | |||||
Property_and_Equipment
Property and Equipment | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||||||||||
Property and Equipment | ' | ||||||||||||||||
6 | Property and Equipment | ||||||||||||||||
Property and equipment as of September 30, 2013 and December 31, 2012 including assets held under capital lease, consists of the following: | |||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
Computer and equipment | $ | 125,373 | $ | 103,858 | |||||||||||||
Furniture and office equipment | 97,068 | 145,499 | |||||||||||||||
Laboratory equipment | 1,760,632 | 1,779,188 | |||||||||||||||
Capital lease equipment | 155,523 | 155,520 | |||||||||||||||
Leaseholds | 37,789 | 73,060 | |||||||||||||||
2,176,385 | 2,257,125 | ||||||||||||||||
Less: Accumulated depreciation | (998,869 | ) | (1,012,100 | ) | |||||||||||||
$ | 1,177,516 | $ | 1,245,025 | ||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 30 | September 30 | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Depreciation and amortization | $ | 51,239 | $ | 80,977 | $ | 148,291 | $ | 252,656 | |||||||||
In February 2012, the Company closed a laboratory in Canada and consigned certain property and equipment for sale with net book value of $507,622. At September 30, 2013 and December 31, 2012, the net book values of the remaining consigned equipment were $74,086 and $251,269, respectively, and consisted solely of scientific equipment which is presented as assets held for sale on the consolidated balance sheet. | |||||||||||||||||
During the nine months ended September 30, 2013 assets held for sale with a net book value of $177,428 were sold for proceeds of $51,776 resulting in a loss on disposal of $125,422. | |||||||||||||||||
During the nine months ended September 30, 2013, the Company wrote off other property and equipment and incurred a loss of $1,211. |
Accrued_Liabilities
Accrued Liabilities | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Payables And Accruals [Abstract] | ' | ||||||||
Accrued Liabilities | ' | ||||||||
7 | Accrued Liabilities | ||||||||
Accrued liabilities as of September 30, 2013 and December 31, 2012: | |||||||||
September 30, 2013 | December 31, 2012 | ||||||||
Accrued bonuses | $ | 481,429 | $ | 458,177 | |||||
Accrued salaries and vacation | 277,147 | 198,817 | |||||||
Accrued professional fees | 15,918 | 265,802 | |||||||
Accrued clinical trial expenses | 550,396 | 188,057 | |||||||
Accrued trade payables other | 77,845 | 84,145 | |||||||
$ | 1,402,735 | $ | 1,194,998 | ||||||
Stockholders_Equity
Stockholders' Equity | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Stockholders' Equity | ' | ||||||||||||
8 | Stockholders’ Equity | ||||||||||||
April 2013 Final Closing of Private Placement | |||||||||||||
On April 29, 2013, the Company entered into a securities purchase agreement and subscription agreements with certain accredited investors for the issuance and sale in the final round of a private placement of 10,430,034 shares of common stock, which the Company sold at a price of $3.116 per share for aggregate gross proceeds of $32,499,986. Warrants to purchase 0.28 shares of common stock at $3.58 per share were issued for each share of common stock purchased. The net proceeds totaled $29,420,375 for this financing. | |||||||||||||
In connection with this final closing of the financing, 1,923,599 shares of common stock and 161,327 warrants to purchase shares of common stock at $5.21 and 1,056,898 warrants to purchase shares of common stock at $3.58 per share were issued to certain existing stockholders of the Company who participated in earlier closings of this financing. The fair value of these common shares and warrants was recognized as a derivative liability with a corresponding charge to the statement of loss. The derivative liability was fair valued at $7,473,108 and the fair value was measured using significant unobservable inputs (Level 3). Upon the final closing of the April 2013 private placement, the derivative liability was reclassified into stockholders’ equity as the obligation to issue additional securities no longer existed. | |||||||||||||
Warrants | |||||||||||||
The following table summarizes the warrants outstanding to purchase common stock as of September 30, 2013: | |||||||||||||
Issue date | Number of | Exercise | Term | ||||||||||
warrants | price | ||||||||||||
Mar-09 | 12,445 | $ | 11.25 | 7 years | |||||||||
Dec-11 | 123,585 | 5.21 | 7 years | ||||||||||
Feb-12 | 3,700 | 5.21 | 6 years | ||||||||||
Jun-12 | 17,267 | 5.21 | 7 years | ||||||||||
Aug-12 | 112,536 | 5.21 | 7 years | ||||||||||
Apr-13 | 161,327 | 5.21 | 7 years | ||||||||||
Apr-13 | 3,977,290 | 3.58 | 7 years | ||||||||||
4,408,150 | |||||||||||||
Stock_Based_Compensation
Stock Based Compensation | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Stock Based Compensation | ' | ||||||||||||||||
9 | Stock Based Compensation | ||||||||||||||||
The following table provides a summary of option activity during the nine months ended September 30, 2013: | |||||||||||||||||
Number of | Exercise | ||||||||||||||||
options | price | ||||||||||||||||
December 31, 2012 | 806,788 | $ | 2.52 | ||||||||||||||
Granted | 1,549,150 | 3.12 | |||||||||||||||
Cancelled | (5,190 | ) | 2.42 | ||||||||||||||
September 30, 2013 | 2,350,748 | $ | 2.91 | ||||||||||||||
Exercisable at September 30, 2013 | 798,531 | $ | 2.52 | ||||||||||||||
The following table provides information regarding stock options activity during the periods: | |||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 30 | 30-Sep | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Stock compensation expense recognized | $ | 235,289 | $ | 803 | $ | 322,069 | $ | 2,408 | |||||||||
Weighted average grant-date fair value of stock options issued (per share) | $ | 2.11 | $ | — | $ | 2.14 | $ | — | |||||||||
Grant-date fair value of stock options issued | $ | 59,080 | $ | — | $ | 3,314,341 | $ | — | |||||||||
Volatility | 117 | % | — | 118.3 | % | — | |||||||||||
Risk-free interest rate | 1.6 | % | — | 1.9 | % | — | |||||||||||
Dividend yield | 0 | % | — | 0 | % | — | |||||||||||
Expected life in years | 6 | — | 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 grant-date fair value of stock options on a straight-line basis over the applicable requisite service periods of the awards, which is generally the vesting period. At September 30, 2013, the total compensation cost related to non-vested awards not yet recognized and weighted average period over which it will be recognized was $3,031,299 and 3.5 years, respectively. |
Geographic_Segment_Information
Geographic Segment Information | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Geographic Segment Information | ' | ||||||||||||||||
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 | |||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
United States | $ | 28,227,117 | $ | 11,578,590 | |||||||||||||
Canada | 701,664 | 717,250 | |||||||||||||||
Germany | 1,106,258 | 1,143,104 | |||||||||||||||
Total Assets | $ | 30,035,039 | $ | 13,438,944 | |||||||||||||
Net Loss | |||||||||||||||||
Three months ended September 30 | Nine months ended | ||||||||||||||||
30-Sep | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
United States | (3,274,731 | ) | (5,770,908 | ) | (15,649,089 | ) | (8,733,523 | ) | |||||||||
Canada | (402,681 | ) | (443,986 | ) | (1,753,248 | ) | (1,633,252 | ) | |||||||||
Total Net Loss | $ | (3,677,412 | ) | $ | (6,214,894 | ) | $ | (17,402,337 | ) | $ | (10,366,775 | ) | |||||
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended | |
Sep. 30, 2013 | ||
Commitments And Contingencies Disclosure [Abstract] | ' | |
Commitments and Contingencies | ' | |
11 | Commitments and Contingencies | |
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 Company’s lease commitment is $226,000. | ||
In March 2013, the Company entered into an office lease agreement for office space in Ewing, New Jersey, which commenced in July 2013 with a term of sixty months. The Company’s lease commitment is $643,000. | ||
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, 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. | ||
The Company has a worldwide exclusive license agreement with Princeton University dated June 2007 that provides the Company with exclusive rights to some aspects of its nanoparticle polymer technology arising from research sponsored by the Company at Princeton University between 2003 and 2007. These inventions are generally characterized as particulate constructs for release of active agents for medical application. Of the products currently in Celator’s pipeline, only the hydrophobic docetaxel prodrug nanoparticle (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 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) | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of consolidation | ' |
Basis of consolidation: The consolidated financial statements include the accounts of Celator and its wholly-owned subsidiaries, Celator Pharmaceuticals Corp. (“CPC”) and Celator UK Ltd. All intercompany transactions have been eliminated. | |
Use of estimates | ' |
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, among 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 Pronouncement | ' |
New Accounting Pronouncement: In March 2013, the Financial Accounting Standards Board (“FASB”) issued an amendment to the accounting guidance on foreign currency matters in order to clarify the guidance for the release of cumulative translation adjustments. The guidance is effective for interim and annual periods beginning on or after December 15, 2013. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial statements. |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value of Assets | ' | ||||||||||||||||
the following table provides the assets carried at fair value: | |||||||||||||||||
Fair Value | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
September 30, 2013 | |||||||||||||||||
Assets: | |||||||||||||||||
Certificates of Deposit | $ | 15,001,448 | $ | 15,001,448 | |||||||||||||
Money Market Fund | 11,097,252 | 11,097,252 | |||||||||||||||
Total | $ | 26,098,700 | $ | 26,098,700 | $ | — | $ | — | |||||||||
December 31, 2012 | |||||||||||||||||
Assets: | |||||||||||||||||
Money Market Fund | $ | 9,107,500 | $ | 9,107,500 | $ | — | $ | — | |||||||||
Other_Receivables_Tables
Other Receivables (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Text Block [Abstract] | ' | ||||||||
Schedule of Other Receivables | ' | ||||||||
Other receivables as of September 30, 2013 and December 31, 2012, consist of the following: | |||||||||
September 30, 2013 | December 31, 2012 | ||||||||
Receivables related to the sale of New Jersey net operating losses | $ | — | $ | 1,363,559 | |||||
Receivables related to value added tax recovery | — | 95,910 | |||||||
Receivables related to the Leukemia & Lymphoma Society funding | — | 500,000 | |||||||
Other receivables | 9,425 | 40,888 | |||||||
$ | 9,425 | $ | 2,000,357 | ||||||
Other_Current_Assets_Tables
Other Current Assets (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | ' | ||||||||
Components of Other Current Assets | ' | ||||||||
Other current assets as of September 30, 2013 and December 31, 2012 consist of the following: | |||||||||
September 30, 2013 | December 31, 2012 | ||||||||
Clinical trial materials | $ | 530,391 | $ | — | |||||
Property_and_Equipment_Tables
Property and Equipment (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||||||||||
Schedule of Property and Equipment, including Assets Held under Capital Lease | ' | ||||||||||||||||
Property and equipment as of September 30, 2013 and December 31, 2012 including assets held under capital lease, consists of the following: | |||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
Computer and equipment | $ | 125,373 | $ | 103,858 | |||||||||||||
Furniture and office equipment | 97,068 | 145,499 | |||||||||||||||
Laboratory equipment | 1,760,632 | 1,779,188 | |||||||||||||||
Capital lease equipment | 155,523 | 155,520 | |||||||||||||||
Leaseholds | 37,789 | 73,060 | |||||||||||||||
2,176,385 | 2,257,125 | ||||||||||||||||
Less: Accumulated depreciation | (998,869 | ) | (1,012,100 | ) | |||||||||||||
$ | 1,177,516 | $ | 1,245,025 | ||||||||||||||
Schedule of Depreciation and Amortization | ' | ||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 30 | September 30 | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Depreciation and amortization | $ | 51,239 | $ | 80,977 | $ | 148,291 | $ | 252,656 | |||||||||
Accrued_Liabilities_Tables
Accrued Liabilities (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Payables And Accruals [Abstract] | ' | ||||||||
Summary of Accrued Liabilities | ' | ||||||||
Accrued liabilities as of September 30, 2013 and December 31, 2012: | |||||||||
September 30, 2013 | December 31, 2012 | ||||||||
Accrued bonuses | $ | 481,429 | $ | 458,177 | |||||
Accrued salaries and vacation | 277,147 | 198,817 | |||||||
Accrued professional fees | 15,918 | 265,802 | |||||||
Accrued clinical trial expenses | 550,396 | 188,057 | |||||||
Accrued trade payables other | 77,845 | 84,145 | |||||||
$ | 1,402,735 | $ | 1,194,998 | ||||||
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Summary of Warrants Outstanding to Purchase Common Stock | ' | ||||||||||||
The following table summarizes the warrants outstanding to purchase common stock as of September 30, 2013: | |||||||||||||
Issue date | Number of | Exercise | Term | ||||||||||
warrants | price | ||||||||||||
Mar-09 | 12,445 | $ | 11.25 | 7 years | |||||||||
Dec-11 | 123,585 | 5.21 | 7 years | ||||||||||
Feb-12 | 3,700 | 5.21 | 6 years | ||||||||||
Jun-12 | 17,267 | 5.21 | 7 years | ||||||||||
Aug-12 | 112,536 | 5.21 | 7 years | ||||||||||
Apr-13 | 161,327 | 5.21 | 7 years | ||||||||||
Apr-13 | 3,977,290 | 3.58 | 7 years | ||||||||||
4,408,150 | |||||||||||||
Stock_Based_Compensation_Table
Stock Based Compensation (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Summary of Activity of Company's Stock Option Plans | ' | ||||||||||||||||
The following table provides a summary of option activity during the nine months ended September 30, 2013: | |||||||||||||||||
Number of | Exercise | ||||||||||||||||
options | price | ||||||||||||||||
December 31, 2012 | 806,788 | $ | 2.52 | ||||||||||||||
Granted | 1,549,150 | 3.12 | |||||||||||||||
Cancelled | (5,190 | ) | 2.42 | ||||||||||||||
September 30, 2013 | 2,350,748 | $ | 2.91 | ||||||||||||||
Exercisable at September 30, 2013 | 798,531 | $ | 2.52 | ||||||||||||||
Schedule of Stock Options Activity | ' | ||||||||||||||||
The following table provides information regarding stock options activity during the periods: | |||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 30 | 30-Sep | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Stock compensation expense recognized | $ | 235,289 | $ | 803 | $ | 322,069 | $ | 2,408 | |||||||||
Weighted average grant-date fair value of stock options issued (per share) | $ | 2.11 | $ | — | $ | 2.14 | $ | — | |||||||||
Grant-date fair value of stock options issued | $ | 59,080 | $ | — | $ | 3,314,341 | $ | — | |||||||||
Volatility | 117 | % | — | 118.3 | % | — | |||||||||||
Risk-free interest rate | 1.6 | % | — | 1.9 | % | — | |||||||||||
Dividend yield | 0 | % | — | 0 | % | — | |||||||||||
Expected life in years | 6 | — | 6.2 | — |
Geographic_Segment_Information1
Geographic Segment Information (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Geographical Information about Net Loss and Total Assets | ' | ||||||||||||||||
The geographic information about total assets is based on the physical location of the assets. | |||||||||||||||||
Total Assets | |||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
United States | $ | 28,227,117 | $ | 11,578,590 | |||||||||||||
Canada | 701,664 | 717,250 | |||||||||||||||
Germany | 1,106,258 | 1,143,104 | |||||||||||||||
Total Assets | $ | 30,035,039 | $ | 13,438,944 | |||||||||||||
Net Loss | |||||||||||||||||
Three months ended September 30 | Nine months ended | ||||||||||||||||
30-Sep | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
United States | (3,274,731 | ) | (5,770,908 | ) | (15,649,089 | ) | (8,733,523 | ) | |||||||||
Canada | (402,681 | ) | (443,986 | ) | (1,753,248 | ) | (1,633,252 | ) | |||||||||
Total Net Loss | $ | (3,677,412 | ) | $ | (6,214,894 | ) | $ | (17,402,337 | ) | $ | (10,366,775 | ) | |||||
Nature_of_Business_and_Liquidi1
Nature of Business and Liquidity - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 |
Accounting Policies [Abstract] | ' | ' | ' | ' |
Accumulated deficit | ($129,023,552) | ($111,621,215) | ' | ' |
Cash and cash equivalents | $27,641,470 | $9,648,008 | $11,397,149 | $3,226,778 |
Fair_Value_Measurements_Fair_V
Fair Value Measurements - Fair Value of Assets (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Assets: | ' | ' |
Total | $26,098,700 | ' |
Certificates of Deposit [Member] | ' | ' |
Assets: | ' | ' |
Certificates of Deposit | 15,001,448 | ' |
Money Market Fund [Member] | ' | ' |
Assets: | ' | ' |
Money Market Fund | 11,097,252 | 9,107,500 |
Level 1 [Member] | ' | ' |
Assets: | ' | ' |
Total | 26,098,700 | ' |
Level 1 [Member] | Certificates of Deposit [Member] | ' | ' |
Assets: | ' | ' |
Certificates of Deposit | 15,001,448 | ' |
Level 1 [Member] | Money Market Fund [Member] | ' | ' |
Assets: | ' | ' |
Money Market Fund | 11,097,252 | 9,107,500 |
Level 2 [Member] | ' | ' |
Assets: | ' | ' |
Total | ' | ' |
Level 2 [Member] | Money Market Fund [Member] | ' | ' |
Assets: | ' | ' |
Money Market Fund | ' | ' |
Level 3 [Member] | ' | ' |
Assets: | ' | ' |
Total | ' | ' |
Level 3 [Member] | Money Market Fund [Member] | ' | ' |
Assets: | ' | ' |
Money Market Fund | ' | ' |
Other_Receivables_Schedule_of_
Other Receivables - Schedule of Other Receivables (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Other Receivables Net Current [Abstract] | ' | ' |
Receivables related to the sale of New Jersey net operating losses | ' | $1,363,559 |
Receivables related to value added tax recovery | ' | 95,910 |
Receivables related to the Leukemia & Lymphoma Society funding | ' | 500,000 |
Other receivables | 9,425 | 40,888 |
Other receivables, net | $9,425 | $2,000,357 |
Other_Current_Assets_Component
Other Current Assets - Components of Other Current Assets (Detail) (USD $) | Sep. 30, 2013 |
Other Assets [Abstract] | ' |
Clinical trial materials | $530,391 |
Property_and_Equipment_Schedul
Property and Equipment - Schedule of Property and Equipment, including Assets Held under Capital Lease (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $2,176,385 | $2,257,125 |
Less: Accumulated depreciation | -998,869 | -1,012,100 |
Property and equipment, net | 1,177,516 | 1,245,025 |
Computer and equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 125,373 | 103,858 |
Furniture and office equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 97,068 | 145,499 |
Laboratory equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 1,760,632 | 1,779,188 |
Capital lease equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 155,523 | 155,520 |
Leaseholds [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $37,789 | $73,060 |
Property_and_Equipment_Schedul1
Property and Equipment - Schedule of Depreciation and Amortization (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 167 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |
Property Plant And Equipment [Abstract] | ' | ' | ' | ' | ' |
Depreciation and amortization | $51,239 | $80,977 | $148,291 | $252,656 | $4,822,521 |
Property_and_Equipment_Additio
Property and Equipment - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 167 Months Ended | 9 Months Ended | |||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Feb. 29, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | |
Property and Equipment [Member] | Scientific Equipment [Member] | Scientific Equipment [Member] | Assets Held for Sale [Member] | ||||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net book value of assets, held for sale | ' | ' | ' | ' | ' | $507,622 | $74,086 | $251,269 | ' |
Assets Disposals, Written Off Net Book Value | ' | ' | 1,211 | ' | ' | ' | ' | ' | 177,428 |
Proceeds from sale of assets | ' | ' | 51,776 | 31,402 | 447,164 | ' | ' | ' | 51,776 |
Loss on disposal of property and equipment | $12,059 | ($30,853) | ($126,633) | ($50,352) | ($898,719) | ' | ' | ' | $125,422 |
Accrued_Liabilities_Summary_of
Accrued Liabilities - Summary of Accrued Liabilities (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Payables And Accruals [Abstract] | ' | ' |
Accrued bonuses | $481,429 | $458,177 |
Accrued salaries and vacation | 277,147 | 198,817 |
Accrued professional fees | 15,918 | 265,802 |
Accrued clinical trial expenses | 550,396 | 188,057 |
Accrued trade payables other | 77,845 | 84,145 |
Accrued liabilities | $1,402,735 | $1,194,998 |
Stockholders_Equity_Additional
Stockholders' Equity - Additional Information (Detail) (USD $) | 1 Months Ended | 9 Months Ended | 9 Months Ended | |||||
Apr. 29, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Apr. 29, 2013 | Sep. 30, 2013 | Apr. 29, 2013 | Sep. 30, 2013 | Apr. 29, 2013 | |
Private placement [Member] | Private placement [Member] | Private placement [Member] | Private placement [Member] | Private placement [Member] | ||||
Warrants Exercise Price at $5.21 [Member] | Warrants Exercise Price at $5.21 [Member] | Warrants Exercise Price at $3.58 [Member] | Warrants Exercise Price at $3.58 [Member] | |||||
Schedule Of Shareholders Equity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance and sale of common stock in private placement | ' | 26,026,793 | 13,673,160 | 10,430,034 | ' | ' | ' | ' |
Sale of stock, price per share | ' | ' | ' | $3.12 | ' | ' | ' | ' |
Gross proceeds from issuance of private placement | $32,499,986 | ' | ' | ' | ' | ' | ' | ' |
Warrants to purchase of common stock issued | ' | ' | ' | 0.28 | ' | ' | ' | ' |
Warrants to purchase of common stock issued, price per share | ' | ' | ' | 3.58 | ' | 5.21 | ' | 3.58 |
Net proceeds from Issuance of Private Placement | 29,420,375 | ' | ' | ' | ' | ' | ' | ' |
Shares of common stock and warrants issued | ' | ' | ' | 1,923,599 | ' | ' | ' | ' |
Warrants to purchase shares of common stock | ' | ' | ' | ' | 161,327 | ' | 1,056,898 | ' |
Fair value of derivative liability | ' | $7,473,108 | ' | ' | ' | ' | ' | ' |
Stockholders_Equity_Summary_of
Stockholders' Equity - Summary of Warrants Outstanding to Purchase Common Stock (Detail) | 9 Months Ended |
Sep. 30, 2013 | |
Class of Warrant or Right [Line Items] | ' |
Number of warrants | 4,408,150 |
March 2009 [Member] | ' |
Class of Warrant or Right [Line Items] | ' |
Issue date | 'March 2009 |
Number of warrants | 12,445 |
Exercise price | 11.25 |
Term | '7 years |
December 2011 [Member] | ' |
Class of Warrant or Right [Line Items] | ' |
Issue date | 'December 2011 |
Number of warrants | 123,585 |
Exercise price | 5.21 |
Term | '7 years |
February 2012 [Member] | ' |
Class of Warrant or Right [Line Items] | ' |
Issue date | 'February 2012 |
Number of warrants | 3,700 |
Exercise price | 5.21 |
Term | '6 years |
June 2012 [Member] | ' |
Class of Warrant or Right [Line Items] | ' |
Issue date | 'June 2012 |
Number of warrants | 17,267 |
Exercise price | 5.21 |
Term | '7 years |
August 2012 [Member] | ' |
Class of Warrant or Right [Line Items] | ' |
Issue date | 'August 2012 |
Number of warrants | 112,536 |
Exercise price | 5.21 |
Term | '7 years |
April 2013 [Member] | Warrants Exercise Price at $5.21 [Member] | ' |
Class of Warrant or Right [Line Items] | ' |
Issue date | 'April 2013 |
Number of warrants | 161,327 |
Exercise price | 5.21 |
Term | '7 years |
April 2013 [Member] | Warrants Exercise Price at $3.58 [Member] | ' |
Class of Warrant or Right [Line Items] | ' |
Issue date | 'April 2013 |
Number of warrants | 3,977,290 |
Exercise price | 3.58 |
Term | '7 years |
Stock_Based_Compensation_Summa
Stock Based Compensation - Summary of Activity of Company's Stock Option Plans (Detail) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' |
Number of options, Beginning balance | 806,788 |
Number of options, Granted | 1,549,150 |
Number of options, Cancelled | -5,190 |
Number of options, Ending balance | 2,350,748 |
Number of options, Exercisable | 798,531 |
Exercise price, Beginning balance | $2.52 |
Exercise price, Granted | $3.12 |
Exercise price, Cancelled | $2.42 |
Exercise price, Ending balance | $2.91 |
Exercise price, Exercisable | $2.52 |
Stock_Based_Compensation_Sched
Stock Based Compensation - Schedule of Stock Options Activity (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 167 Months Ended | ||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2007 | Dec. 31, 2006 | Sep. 30, 2013 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock compensation expense recognized | $235,289 | $803 | $322,069 | $2,408 | $3,210 | $114,089 | $169,424 | $200,522 | $186,578 | $243,340 | $201,989 | $1,441,221 |
Weighted average grant-date fair value of stock options issued (per share) | $2.11 | ' | $2.14 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Grant-date fair value of stock options issued | $59,080 | ' | $3,314,341 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Volatility | 117.00% | ' | 118.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Risk-free interest rate | 1.60% | ' | 1.90% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend yield | 0.00% | ' | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected life in years | '6 years | ' | '6 years 2 months 12 days | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock_Based_Compensation_Addit
Stock Based Compensation - Additional Information (Detail) (Non-vested Awards [Member], USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Non-vested Awards [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Total compensation cost related to non-vested awards not yet recognized | $3,031,299 |
Weighted average period over which total compensation cost will be recognized | '3 years 6 months |
Geographic_Segment_Information2
Geographic Segment Information - Geographical Information about Net Loss and Total Assets (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 13 Months Ended | 167 Months Ended | |||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2007 | Dec. 31, 2006 | Dec. 31, 2005 | Dec. 31, 2004 | Dec. 31, 2003 | Dec. 31, 2002 | Dec. 31, 2001 | Dec. 31, 2000 | Sep. 30, 2013 | |
Total Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets | $30,035,039 | ' | $30,035,039 | ' | $13,438,944 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $30,035,039 |
Net loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | -3,677,412 | -6,214,894 | -17,402,337 | -10,366,775 | -10,908,727 | -14,159,754 | -10,814,788 | -10,022,979 | -14,028,617 | -16,761,805 | -14,588,786 | -8,913,249 | -5,445,046 | -3,506,027 | -1,497,719 | -773,668 | -200,050 | -129,023,552 |
United States [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets | 28,227,117 | ' | 28,227,117 | ' | 11,578,590 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 28,227,117 |
Net loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | -3,274,731 | -5,770,908 | -15,649,089 | -8,733,523 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Canada [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets | 701,664 | ' | 701,664 | ' | 717,250 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 701,664 |
Net loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | -402,681 | -443,986 | -1,753,248 | -1,633,252 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Germany [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets | $1,106,258 | ' | $1,106,258 | ' | $1,143,104 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,106,258 |
Commitments_and_Contingencies_
Commitments and Contingencies - Additional Information (Detail) (USD $) | 9 Months Ended | 1 Months Ended | 9 Months Ended | ||||||||
Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Feb. 28, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
Princeton University Agreement [Member] | Leukemia & Lymphoma Society Agreement [Member] | Leukemia & Lymphoma Society Agreement [Member] | Leukemia & Lymphoma Society Agreement [Member] | Vancouver, British Columbia [Member] | Ewing, New Jersey [Member] | Ewing, New Jersey [Member] | British Columbia Cancer Agency [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | |
Phase 3 study [Member] | Phase 2 study [Member] | Princeton University Agreement [Member] | Princeton University Agreement [Member] | Leukemia & Lymphoma Society Agreement [Member] | |||||||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lease commencement date | ' | ' | ' | ' | 'April 1, 2013 | 'July 1, 2013 | ' | ' | ' | ' | ' |
Lease expiration date | ' | ' | ' | ' | 30-Jun-16 | ' | ' | ' | ' | ' | ' |
Lease commitments | ' | ' | ' | ' | $226,000 | $643,000 | ' | ' | ' | ' | ' |
Lease expiration term | ' | ' | ' | ' | ' | '60 months | ' | ' | ' | ' | ' |
Obligation to maintain letter of credit from bank with respect to security deposit | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' |
Contractual obligation of letters of credit payment as on December 1, 2014 | ' | ' | ' | ' | ' | ' | 40,000 | ' | ' | ' | ' |
Contractual obligation of letters of credit payment as on December 1, 2015 | ' | ' | ' | ' | ' | ' | 40,000 | ' | ' | ' | ' |
Contractual obligation of letters of credit payment as on December 1, 2016 | ' | ' | ' | ' | ' | ' | 40,000 | ' | ' | ' | ' |
Contractual obligation of letters of credit payment as on December 1, 2017 | ' | ' | ' | ' | ' | ' | 60,000 | ' | ' | ' | ' |
Percentage of royalty payable from the amount received from out-licenses and transfers | ' | ' | ' | ' | ' | ' | ' | ' | 45.00% | 55.00% | ' |
Agreement termination notice period | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rectification of default period | '60 days | ' | ' | ' | ' | ' | ' | '45 days | ' | ' | ' |
Funding for project inventions | ' | ' | $5,000,000 | $4,100,000 | ' | ' | ' | ' | ' | ' | ' |
Percentage of royalty payable from the amount received from out-licenses and transfers | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of times amount payable under research funding program | ' | 1.5 | ' | ' | ' | ' | ' | ' | ' | ' | 3.55 |
Maximum Percentage On Net Sales For Cash Payment Or Royalties | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |