PLx Pharma Winddown (PLXPQ) 10-Q12 May 142014 Q1 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2014	12-May-14
Document and Entity Information	'	'
Entity Registrant Name	'Dipexium Pharmaceuticals, Inc.	'
Entity Central Index Key	'0001497504	'
Document Type	'10-Q	'
Document Period End Date	31-Mar-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	8,537,877
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

CONDENSED_BALANCE_SHEETS

CONDENSED BALANCE SHEETS (USD $)	Mar. 31, 2014	Dec. 31, 2013
CURRENT ASSETS	'	'
Cash	$36,065,537	$3,861,145
Prepaid Expenses	216,564	46,094
TOTAL CURRENT ASSETS	36,282,101	3,907,239
OTHER ASSETS	'	'
Deferred Initial Public Offering costs	'	122,826
TOTAL OTHER ASSETS	'	122,826
TOTAL ASSETS	36,282,101	4,030,065
CURRENT LIABILITIES	'	'
Accounts Payable and Accrued Expenses	687,880	823,834
TOTAL LIABILITIES	687,880	823,834
COMMITMENTS AND CONTINGENCIES	'	'
MEMBERS' AND SHAREHOLDERS' EQUITY	'	'
Members' Equity	'	3,206,231
Common Stock : $.001 par value, 30,000,000 shares authorized, 8,537,877 shares issued and outstanding at March 31, 2014	8,538	'
Additional paid-in capital	46,867,287	'
Accumulated deficit	-11,281,604	'
TOTAL MEMBERS' AND SHAREHOLDER'S EQUITY	35,594,221	3,206,231
TOTAL LIABILITIES AND MEMBERS' AND SHAREHOLDERS' EQUITY	$36,282,101	$4,030,065

CONDENSED_BALANCE_SHEETS_Paren

CONDENSED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
CONDENSED BALANCE SHEETS	'	'
Common Stock, par value (in dollars per share)	$0.00	$0.00
Common Stock, shares authorized	30,000,000	'
Common Stock, shares issued	8,537,877	'
Common Stock, shares outstanding	8,537,877	'

CONDENSED_STATEMENTS_OF_OPERAT

CONDENSED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		50 Months Ended
CONDENSED STATEMENTS OF OPERATIONS (USD $)	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
OPERATING EXPENSES	'	'	'
Research and Development Expenses	$1,816,690	$122,701	$5,640,054
Acquired In-process Research and Development	'	'	272,500
General and Administrative Expenses	727,149	283,887	5,369,050
TOTAL OPERATING EXPENSES	2,543,839	406,588	11,281,604
LOSS FROM OPERATIONS	-2,543,839	-406,588	-11,281,604
NET LOSS	($2,543,839)	($406,588)	($11,281,604)
LOSS PER SHARE	'	'	'
Basic and diluted net loss per common share/units (in dollars per share)	$0.44	$0.09	'
Weighted average common shares/units outstanding basic and diluted	5,749,220	4,370,863	'

CONDENSED_STATEMENTS_OF_CASH_F

CONDENSED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended		12 Months Ended	50 Months Ended
CONDENSED STATEMENTS OF CASH FLOWS (USD $)	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Mar. 31, 2014
Operating Activities:	'	'	'	'
Net Loss	($2,543,839)	($406,588)	($4,013,620)	($11,281,604)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'	'	'
Share Based Compensation	95,960	96,082	'	2,175,194
Share Based Payments to Vendors	380,200	10,900	'	575,366
(Increase) / Decrease In:	'	'	'	'
Prepaid Expenses	-170,470	2,166	'	-216,564
Accounts Payable and Accrued Expenses	-13,128	35,614	'	687,880
Net Cash Used In Operating Activities	-2,251,277	-261,826	'	-8,059,728
Financing Activities:	'	'	'	'
Proceeds from issuance of Common Stock, net of issuance costs	34,455,669	'	'	34,455,669
Proceeds from Private Placement Offerings, net of issuance costs	'	892,500	'	9,669,596
Net Cash Provided By Financing Activities	34,455,669	892,500	'	44,125,265
Net Increase In Cash	32,204,392	630,674	'	36,065,537
Cash at Beginning of Period	3,861,145	1,457,115	1,457,115	'
Cash at End of Period	$36,065,537	$2,087,789	$3,861,145	$36,065,537

CONDENSED_STATEMENTS_OF_CHANGE

CONDENSED STATEMENTS OF CHANGES IN MEMBERS' & SHAREHOLDERS' EQUITY (USD $)	Total	Class A Membership Interests	Common Stock	Additional paid-capital	Deficit during Development Stage
Balance at Jan. 13, 2010	'	'	'	'	'
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'
Private Placement Offerings at $50 per unit, net of issuance costs	$1,408,950	$1,408,950	'	'	'
Private Placement Offerings , net of issuance costs (in units)	'	28,400	'	'	'
Executive compensation settled with Membership Interests	110,400	110,400	'	'	'
Executive compensation settled with Membership Interests (in units)	'	2,208	'	'	'
Share-Based Compensation	13,889	13,889	'	'	'
Initial Investment and Initial Public Offering, net of issuance costs	250,000	250,000	'	'	'
Initial Investment and Initial Public Offering, net of issuance costs (in shares)	'	500,000	'	'	'
Net Loss	-915,665	-915,665	'	'	'
Balance (in units) at Dec. 31, 2010	'	530,608	'	'	'
Balance at Dec. 31, 2010	867,574	867,574	'	'	'
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'
Private Placement Offerings at $50 per unit, net of issuance costs	1,430,000	1,430,000	'	'	'
Private Placement Offerings , net of issuance costs (in units)	'	28,750	'	'	'
Executive compensation settled with Membership Interests	252,000	252,000	'	'	'
Executive compensation settled with Membership Interests (in units)	'	5,040	'	'	'
Share-Based Compensation	126,390	126,390	'	'	'
Issuance of Restricted Membership Interest Awards (in shares)	'	1,334	'	'	'
Net Loss	-1,964,494	-1,964,494	'	'	'
Balance (in units) at Dec. 31, 2011	'	565,732	'	'	'
Balance at Dec. 31, 2011	711,470	711,470	'	'	'
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'
Private Placement Offerings at $50 per unit, net of issuance costs	1,982,346	1,982,346	'	'	'
Private Placement Offerings , net of issuance costs (in units)	'	40,100	'	'	'
Executive compensation settled with Membership Interests	168,000	168,000	'	'	'
Executive compensation settled with Membership Interests (in units)	'	3,360	'	'	'
Share-Based Compensation	215,277	215,277	'	'	'
Issuance of Restricted Membership Interest Awards (in shares)	'	4,001	'	'	'
Share Based Payments to Vendors	72,000	72,000	'	'	'
Share Based Payments to Vendors (in units)	'	1,440	'	'	'
Net Loss	-1,843,986	-1,843,986	'	'	'
Balance (in units) at Dec. 31, 2012	'	614,633	'	'	'
Balance at Dec. 31, 2012	1,305,107	1,305,107	'	'	'
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'
Private Placement Offerings at $50 per unit, net of issuance costs	4,598,300	4,598,300	'	'	'
Private Placement Offerings , net of issuance costs (in units)	'	92,350	'	'	'
Executive compensation settled with Membership Interests	115,500	115,500	'	'	'
Executive compensation settled with Membership Interests (in units)	'	2,310	'	'	'
Share-Based Compensation	1,077,777	1,077,777	'	'	'
Issuance of Restricted Membership Interest Awards (in shares)	'	22,665	'	'	'
Share Based Payments to Vendors	123,167	123,167	'	'	'
Issuance of Restricted Membership Interest to Vendors (in units)	'	3,630	'	'	'
Net Loss	-4,013,620	-4,013,620	'	'	'
Balance (in units) at Dec. 31, 2013	'	735,588	'	'	'
Balance at Dec. 31, 2013	3,206,231	3,206,231	'	'	'
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'
Executive compensation settled with Membership Interests (in units)	0	'	'	'	'
Share-Based Compensation	95,960	'	'	95,960	'
Issuance of Restricted Membership Interest Awards (in shares)	'	1,000	'	'	'
Issuance of Restricted Membership Interest to Vendors	380,200	380,200	'	'	'
Issuance of Restricted Membership Interest to Vendors (in units)	'	7,604	'	'	'
Issuance of Membership Interest for Warrant conversion (in shares)	'	23,719	'	'	'
Corporate Conversion	'	-3,586,431	5,375	12,318,821	-8,737,765
Corporate Conversion (in shares)	5,375,377	-767,911	5,375,377	'	'
Initial Investment and Initial Public Offering, net of issuance costs	34,455,669	'	3,163	34,452,506	'
Initial Investment and Initial Public Offering, net of issuance costs (in shares)	'	'	3,162,500	'	'
Net Loss	-2,543,839	'	'	'	-2,543,839
Balance (in shares) at Mar. 31, 2014	8,537,877	'	8,537,877	'	'
Balance at Mar. 31, 2014	$35,594,221	'	$8,538	$46,867,287	($11,281,604)

CONDENSED_STATEMENTS_OF_CHANGE1

CONDENSED STATEMENTS OF CHANGES IN MEMBERS' & SHAREHOLDERS' EQUITY (Parenthetical) (USD $)	0 Months Ended	3 Months Ended	12 Months Ended
	Jul. 23, 2010	Mar. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
CONDENSED STATEMENTS OF CHANGES IN MEMBERS' & SHAREHOLDERS' EQUITY	'	'	'	'	'	'
Private Placement Offerings price per unit	$50	$50	$50	$50	$50	$50

NATURE_OF_OPERATIONS

NATURE OF OPERATIONS	3 Months Ended
NATURE OF OPERATIONS	Mar. 31, 2014
NATURE OF OPERATIONS	'
NATURE OF OPERATIONS	'
	NOTE 1 — NATURE OF OPERATIONS

	Business:

	Dipexium Pharmaceuticals, Inc., (the “Company”), a Delaware corporation, formerly Dipexium Pharmaceuticals, LLC, is a biopharmaceutical company addressing the need for new antibiotics to treat infectious diseases. The Company was formed on January 14, 2010. The Company is a late-stage pharmaceutical company focused on the development and commercialization of Locilex ™ (pexiganan cream 0.8%).

	On March 18, 2014, the Company completed a corporate conversion from a limited liability company to a corporation in conjunction with an initial public offering (“IPO”) of common stock. As a result of the corporate conversion, holders of the Class A Membership Interests and warrants in Dipexium Pharmaceuticals LLC, became holders of Dipexium Pharmaceutical Inc., common stock.

	The Company has experienced net losses and negative cash flows from operations since inception and expects these conditions to continue for the foreseeable future. The Company has needed to raise capital from sales of its securities to sustain operations. In March 2014, the Company completed an initial public offering of common stock with proceeds, net of issuance costs, of approximately $34.5 million. As of March 31, 2014, the Company had a cash balance of approximately $36.1 million. Based on the Company’s projected expenditures for 2014, management currently believes that its current cash balances should be sufficient to fund the Company’s operations through the first half of 2016. Furthermore, if the Company’s assumptions underlying its estimated expenses prove to be wrong, it may have to raise additional capital sooner than anticipated.

	There can be no assurance that the Company’s research and development will be successfully completed or that any Company product will be approved or commercially viable. The Company is subject to risks common to companies in the biotechnology industry including, but not limited to, dependence on collaborative arrangements, development by the Company or its competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, and compliance with Food and Drug Administration (“FDA”) and other governmental regulations and approval requirements.

	Basis of Presentation:

	The Company’s primary activities since inception have been organizational activities, including recruiting personnel, acquiring rights to a pharmaceutical compound, performing business and financial planning, performing research and development activities and raising funds through issuances of Class A Membership Interests and warrants to purchase Class A Membership Interests and the issuance of common stock in an IPO. The Company has not generated any revenues since inception and, accordingly, the Company is considered to be in its development stage.

	Unaudited Condensed Interim Financial Data

	The accompanying interim condensed financial statements are unaudited. These unaudited condensed financial statements have been prepared in accordance with the rules and regulations of the United States Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not include all the information and footnotes required by Generally Accepted Accounting Principles (“GAAP”) for complete financial statements. These unaudited interim condensed financial statements should be read in conjunction with the audited financial statements and accompanying notes for the year ended December 31, 2013. The unaudited interim condensed financial statements have been prepared on the same basis as the annual financial statements included in the registration statement and, in the opinion of management, reflect all the adjustments (consisting of normal recurring adjustments) necessary to state fairly the Company’s financial position as of March 31, 2014 and the results of operations and cash flows for the three months ended March 31, 2013 and 2014. The December 31, 2013 balance sheet included herein was derived from the audited financial statements, but may not include all disclosures including notes required by GAAP for complete financial statements.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Mar. 31, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

	Use of Estimates

	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.

	Federal Income Taxes

	The Company estimates an annual effective tax rate of 0% as the Company incurred losses for the three month period ended March 31, 2014 and is forecasting additional losses through year end, resulting in an estimated net loss for both financial statement and tax purposes. Therefore, no current federal or state income tax expense has been recorded in the financial statements.

	Based on the Company’s history of generating operating losses and its anticipation of operating losses continuing in the foreseeable future, the Company has determined that it would be more likely than not that the tax benefits from these net operating losses would not be realized and a full valuation allowance against all deferred tax assets has been recorded. Should the Company’s assessment change, tax benefits associated with the historic net operating loss carryforwards will be limited due to the ownership change.

	Prior to the Company’s corporate conversion in March 2014, the Company was organized as a limited liability company. As such, the Company was not a tax paying entity for Federal income tax purposes and, therefore, no income tax expense has been recorded in the financial statements. Income or losses of the Company was passed through to members for inclusion in their respective income tax returns.

	Concentration of Credit Risk

	The Company maintains its cash balance in one financial institution. The balance is insured up to the maximum allowable by the Federal Deposit Insurance Company (“FDIC”). The Company has not experienced any losses in such accounts and does not believe it is exposed to any significant risk of loss on cash. At times, the cash balance may exceed the maximum limit of the FDIC.

	Guaranteed Payments to Members

	Guaranteed payments to members of the Company prior to the March 2014 corporate conversion, that were designated to represent reasonable compensation for services rendered, were accounted for as Company expenses rather than an allocation of the Company’s net income.

	Research and Development

	In accordance with Accounting Standards Codification (“ASC”) 730, “Accounting for Research and Development Costs”, the Company expenses research and development costs when incurred. At times the Company may make cash advances for research and development services. These amounts are capitalized and expensed in the period the service is provided. The Company incurred net research and development expenses in the amount of $1,816,690 and $122,701 for the three months ended March 31, 2014 and 2013, respectively, and $5,912,554 for the cumulative period from January 14, 2010 (inception) to March 31, 2014.

	Share-Based Compensation

	The Company accounts for the cost of services performed by officers and directors received in exchange for an award of Company membership interests, common stock, or stock options, based on the grant-date fair value of the award. In accordance with the ASC 718 “Stock Compensation”, the Company recognizes compensation expense, net of estimated forfeitures, on a straight-line basis over the service period.

	Share-Based Payments to Vendors

	The Company accounts for the cost of services performed by vendors in exchange for an award of Company membership interests or common stock based on the grant-date fair value of the award or fair value of the services rendered; whichever is more readily determinable and adjusted to fair value at each reporting date. The Company recognizes the expense in the same period and in the same manner as if the Company had paid cash for the services. Such fair value is measured as of the earlier of the date the other party becomes committed to provide goods or services or the date performance by the other party is complete.

	Deferred Initial Public Offering Costs

	The Company incurred legal and accounting costs relating to its initial public offering. These specific incremental costs directly attributable to the offering of equity securities were capitalized in other noncurrent assets as of Decemeber 31, 2013. These costs were subsequently applied against the proceeds of the initial public offering which was consummated in March 2014.

ASSET_PURCHASE

ASSET PURCHASE	3 Months Ended
ASSET PURCHASE	Mar. 31, 2014
ASSET PURCHASE	'
ASSET PURCHASE	'
	NOTE 3 — ASSET PURCHASE

	On April 8, 2010, the Company purchased the intellectual property and other rights (the “Asset”) relating to the compound pexiganan from the Geneara Liquidating Trust, Argyce, LLC (the “Trust”). On March 21, 2011, the Company exercised its right to purchase the Trust’s rights to milestone payments and royalties, thereby acquiring all worldwide interests to the Asset. The Company paid a total of $272,500, in the aggregate, for all of the interests in and to the Asset.

	In accordance with ASC 805, the Company defined the Asset purchase as “in-process research and development”, as the assets, including the drug compound and the associated patents and other intangible assets, were in early stage development and required significant additional investments in research and development to realize their full value.

	The transaction was treated as an asset acquisition as it was determined that the Asset purchased did not meet the definition of a business. The Company determined that the acquired Asset can only be economically used for the specific and intended purpose and has no alternative future use taking into consideration future research and development, regulatory and marketing approval efforts required in order to reach technological feasibility. Accordingly, the entire purchase consideration was immediately expensed as acquired in-process research and development.

ACCOUNTS_PAYABLE_AND_ACCRUED_E

ACCOUNTS PAYABLE AND ACCRUED EXPENSES	3 Months Ended
	Mar. 31, 2014
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	'
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	'
	NOTE 4 - ACCOUNTS PAYABLE AND ACCRUED EXPENSES

	Accounts payable and accrued expenses at and March 31, 2014 and December 31, 2013 were as follows:

		March 31, 2014		December 31, 2013
	Accrued compensation expense	$	102,529	$	247,845
	Accrued research and development	388,210		367,065
	Accrued professional fees	185,994		160,370
	Other accounts payable and accrued expenses	11,147		48,554
	Total	$	687,880	$	823,834

EXECUTIVE_COMPENSATION

EXECUTIVE COMPENSATION	3 Months Ended
EXECUTIVE COMPENSATION	Mar. 31, 2014
EXECUTIVE COMPENSATION	'
EXECUTIVE COMPENSATION	'
	NOTE 5 — EXECUTIVE COMPENSATION

	The Company’s co-founders and original two executives received compensation pursuant to employment agreements effective July 23, 2010 (the “Original Agreements”). The Original Agreements stipulated that the executives would receive a base salary of $252,000 per annum, of which one-half was payable with the issuance of Class A Membership Interests of the Company (then organized as a limited liability company prior to the corporate conversion in March 2014) at the most recent offering price ($50 per Class A Membership Interest in each case), until such time as the Company raised aggregate proceeds of at least $2,000,000. This threshold was reached on March 11, 2011; however, both executives signed temporary waivers until January 2012, at which time the executives revoked one-half of each waiver, and then subsequently reinstated the waiver in full. The Company issued no Class A Membership Interests to these two executives pursuant to the Original Agreements for either of the three months ended March 31, 2014 and 2013, respectively, and 12,918 Class A Membership Interests for the cumulative period from January 14, 2010 (inception) to March 31, 2014.

	The Original Agreements also stipulated that the two executives would receive 5 weeks of vacation per annum. Any unused weeks at the end of each year are payable to the executives in cash. Accordingly, compensation expense representing accrued vacation pay has been recorded in the amount of $10,176 and $12,923 for the three months ended March 31, 2014 and 2013, respectively, and $183,021 for the cumulative period from January 14, 2010 (inception) to March 31, 2014, which was paid in March 2014.

	The Company currently is managed by four executives including the original two executives, in each case, pursuant to employment agreements effective March 18, 2014.

ISSUANCE_OF_MEMBERSHIP_INTERES

ISSUANCE OF MEMBERSHIP INTERESTS and COMMON STOCK	3 Months Ended
ISSUANCE OF MEMBERSHIP INTERESTS and COMMON STOCK	Mar. 31, 2014
ISSUANCE OF MEMBERSHIP INTERESTS and COMMON STOCK	'
ISSUANCE OF MEMBERSHIP INTERESTS and COMMON STOCK	'
	NOTE 6 — ISSUANCE OF MEMBERSHIP INTERESTS and COMMON STOCK

	On July 23, 2010, the Company entered into a securities purchase agreement with 27 investors for the private placement of the Company’s Class A Membership Interests and warrants to purchase its Class A Membership Interests, at a purchase price of $50 per unit. Each unit is comprised of one Class A Membership Interest and a warrant to purchase one-half of the total Class A Membership Interests purchased. The Company issued and sold an aggregate of 28,400 units, comprised of 28,400 Class A Membership Interests and warrants to purchase up to 14,200 additional Class A Membership Interests for gross proceeds of $1,420,000. Each warrant, exercisable for 5 years from July 23, 2010, has an exercise price of $60 per Class A Membership Interest.

	On March 20, 2011, the Company entered into a securities purchase agreement with 22 investors, for the private placement of the Company’s Class A Membership Interests and warrants to purchase its Class A Membership Interests, at a purchase price of $50 per unit. Each unit is comprised of one Class A Membership Interest and a warrant to purchase one-half of the total Class A Membership Interests purchased. The Company issued and sold an aggregate of 13,400 units, comprised of 13,400 Class A Membership Interests and warrants to purchase up to 6,700 additional Class A Membership Interests for gross proceeds of $670,000. Each warrant, exercisable for 5 years from March 20, 2011, has an exercise price of $60 per Class A Membership Interest.

	On October 14, 2011, the Company entered into a securities purchase agreement with 23 investors, for the private placement of the Company’s Class A Membership Interests and warrants to purchase its Class A Membership Interests, at a purchase price of $50 per unit. Each unit is comprised of one Class A Membership Interest and a warrant to purchase one-half of the total Class A Membership Interests purchased. The Company issued and sold an aggregate of 15,350 units, comprised of 15,350 Class A Membership Interests and warrants to purchase up to 7,675 additional Class A Membership Interests for gross proceeds of $767,500. Each warrant, exercisable for 5 years from October 14, 2011, has an exercise price of $60 per Class A Membership Interest.

	On March 30, 2012, the Company entered into a securities purchase agreement with 16 investors, for the private placement of the Company’s Class A Membership Interests and warrants to purchase its Class A Membership Interests, at a purchase price of $50 per unit. Each unit is comprised of one Class A Membership Interest and a warrant to purchase one-half of the total Class A Membership Interests purchased. The Company issued and sold an aggregate of 10,150 units, comprised of 10,150 Class A Membership Interests and warrants to purchase up to 5,075 additional Class A Membership Interests for gross proceeds of $507,500. Each warrant, exercisable for 5 years from March 30, 2012, has an exercise price of $60 per Class A Membership Interest.

	On November 21, 2012, the Company entered into a securities purchase agreement with 21 investors, for the private placement of the Company’s Class A Membership Interests and warrants to purchase its Class A Membership Interests, at a purchase price of $50 per unit. Each unit is comprised of one Class A Membership Interest and a warrant to purchase one-half of the total Class A Membership Interests purchased. The Company issued and sold an aggregate of 29,950 units, comprised of 29,950 Class A Membership Interests and warrants to purchase up to 14,975 additional Class A Membership Interests for gross proceeds of $1,497,500. Each warrant, exercisable for 5 years from November 21, 2012, has an exercise price of $60 per Class A Membership Interest.

	On February 13, 2013, the Company entered into a securities purchase agreement with 7 investors, for the private placement of the Company’s Class A Membership Interests and warrants to purchase its Class A Membership Interests, at a purchase price of $50 per unit. Each unit is comprised of one Class A Membership Interest and a warrant to purchase one-half of the total Class A Membership Interests purchased. The Company issued and sold an aggregate of 18,000 units, comprised of 18,000 Class A Membership Interests and warrants to purchase up to 9,000 additional Class A Membership Interests for gross proceeds of $900,000. Each warrant, exercisable for 5 years from February 13, 2013, has an exercise price of $60 per membership interest.

	On July 12, 2013, the Company entered into a securities purchase agreement with 28 investors, for the private placement of the Company’s Class A Membership Interests and warrants to purchase its Class A Membership Interests, at a purchase price of $50 per unit. Each unit is comprised of one Class A Membership Interest and a warrant to purchase one-half of the total Class A Membership Interests purchased. The Company issued and sold an aggregate of 55,500 units, comprised of 55,500 Class A Membership Interests and warrants to purchase up to 27,750 additional Class A Membership Interests for gross proceeds of $2,775,000. Each warrant, exercisable for 5 years from July 12, 2013, has an exercise price of $60 per Class A Membership Interest.

	On November 15, 2013, the Company entered into a securities purchase agreement with 25 investors, for the private placement of the Company’s Class A Membership Interests and warrants to purchase its Class A Membership Interests, at a purchase price of $50 per unit. Each unit is comprised of one Class A Membership Interest and a warrant to purchase one-half of the total Class A Membership Interests purchased. The Company issued and sold an aggregate of 18,850 units, comprised of 18,850 Class A Membership Interests and warrants to purchase up to 9,425 additional Class A Membership Interests for gross proceeds of $942,500. Each warrant, exercisable for 5 years from November 15, 2013, has an exercise price of $60 per Class A Membership Interest.

	In February 2014, the Company issued an aggregate of 23,719 Class A Membership Interests to investors in its prior financings in exchange for 89,900 outstanding warrants with an exercise price $60 per Class A Membership Interest or $8.57 on a 7 to 1 converted basis. The exchange was effectively a cashless exercise in which the 23,719 Class A Membership Interests issued were calculated using an implied intrinsic value of the warrants at $2.93 per share, on a 7 to 1 as converted basis and an estimated issuance price of $11.50 per share. As the warrants and membership interests are both classified as equity instruments, the warrant exercise resulted in an immaterial reclassification within members’ equity.

	On March 18, 2014, the Company completed an IPO issuing 3,162,500 shares of common stock at a price of $12 per share, resulting in net proceeds of $34,455,669 after deducting underwriting discounts of $2,656,500 and offering costs $837,831. The outstanding Class A Membership Interests were converted to shares of common stock using a conversion ratio of 7 to 1, resulting in the conversion of 767,911 Class A Membership Interests into an aggregate of 5,375,377 shares of common stock.

SHAREBASED_COMPENSATION_and_ST

SHARE-BASED COMPENSATION and STOCK OPTIONS	3 Months Ended
SHARE-BASED COMPENSATION and STOCK OPTIONS	Mar. 31, 2014
SHARE-BASED COMPENSATION and STOCK OPTIONS	'
SHARE-BASED COMPENSATION and STOCK OPTIONS	'
	NOTE 7 — SHARE-BASED COMPENSATION and STOCK OPTIONS

	The Company granted restricted Class A Membership Interests awards to board members in exchange for services. These membership interests awards were originally scheduled to vest over a period of 3 or 4 years, with the first year beginning on the date the member joined the board. Accelerated vesting will occur upon a change of control or other business combination. The fair value of the membership interests granted was equal to the per-membership interest value of the most recent private placement ($50 per membership interest). In December 2013, the Company received resignation letters from six members of the board of directors and the continuing members of the board of directors authorized accelerated vesting of their Class A Membership Interests. The Company issued 20,333 Class A Membership Interests in connection with both the accelerated and annual vesting of the awards and recorded compensation expense in the amount of $693,750 associated with this accelerated vesting. Total compensation expense in the amount of $37,500 and $64,582 has been recorded as director fees for the three months ended March 31, 2014 and 2013, respectively, and $1,470,834 for the cumulative period period from January 14, 2010 (inception) to March 31, 2014.

	During 2012, Class A Membership Interests vested in full for one board member by board resolution when this board member resigned their position on the board. The following table summarizes the non-vested Class A Membership Interests at March 31, 2014 giving effect to the corporate conversion and the associated activity for the years ended December 31, 2013 and 2012.

		Class A
		Membership Interests
		converted to Common Stock 7:1 ratio
	Nonvested at January 1, 2013	111,986
	Granted	112,000
	Vested	(146,986	)
	Nonvested at December 31, 2013	77,000
	Granted	—
	Vested	(14,000	)
	Nonvested at March 31, 2014	63,000

	In December 2013, 1,000 Membership Interests were issued to a member of board of directors which did not vest until February 2014.

	As of March 31, 2014, there was $429,167 of total unrecognized compensation cost related to these awards. That cost is expected to be recognized over a weighted average period of 3.0 years.

	In November 2013, the board of directors adopted the 2013 Equity Incentive Plan. The plan became effective as of the completion of the corporate conversion and the closing of the IPO. The Equity Incentive Plan reserves an aggregate number of common shares equal to 20% of the issued and outstanding common stock. The purpose of the plan is to attract and retain directors, officers, and employees whose services are considered valuable to the Company.

	In March 2014, effective at the closing of the Company’s IPO, the Company granted stock options to purchase 853,787 common shares (10% of the common stock outstanding) to four of its executives. The options were issued pursuant to the 2013 Equity Incentive Plan at an exercise price of $13.93 and vest over thirty-six (36) equal monthly installments. Compensation expense associated with these awards is recognized over the vesting period based on the fair value of the option at the grant date determined based on the Black-Scholes model. Option valuation models require the input of highly subjective assumptions including the expected price volatility. The Company’s employee stock options have characteristics significantly different from those of traded options, and changes in the subjective input assumptions can materially affect the fair value estimate. Because there is no public market for the Company’s stock options and very little historical experience with the Company’s stock, similar public companies were used for comparison and expectations as to assumptions required for fair value computation using the Black-Scholes methodology.

	The Company determined the fair value of the option awards using the Black-Scholes option pricing model and the following weighted average assumptions:

		Three Months Ended
		March 31, 2014
	Expected term	4.2 years
	Volatility	59.6		%
	Dividend yield	0		%
	Risk free interest rate	1.22		%
	Weighted average grant date fair value	$	5.88


	ASC 718 requires stock compensation expense to be recorded net of estimated forfeitures. The Company currently estimates there will be no forfeitures of options.

	A summary of the Company’s stock option activity is as follows:

		Three Months Ended
		March 31, 2014
	Outstanding at the beginning of the period	—
	Granted	853,787
	Vested	—
	Forfeited	—
	Outstanding and expected to vest at the end of the period	853,787

	Compensation expense relating to options for the three months ended March 31, 2014 and 2013 was $58,460 and $0, respectively. The total compensation expense not yet recognized as of March 31, 2014 was $4,960,097. The weighted average vesting period over which the total compensation expense will be recorded related to unvested options not yet recognized as March 31, 2014 was approximately 2.9 years. The intrinsic value of the stock options as of March 31, 2014 was $0, with a remaining weighted average contractual life of 6.5 years and an exercise price of $13.93.

SHAREBASED_PAYMENTS_TO_VENDORS

SHARE-BASED PAYMENTS TO VENDORS	3 Months Ended
SHARE-BASED PAYMENTS TO VENDORS	Mar. 31, 2014
SHARE-BASED PAYMENTS TO VENDORS	'
SHARE-BASED PAYMENTS TO VENDORS	'
	NOTE 8 — SHARE-BASED PAYMENTS TO VENDORS

	During 2012, the Company granted 1,440 Class A Membership Interests to two vendors in exchange for consulting services. The fair value of the Class A Membership Interests granted is equal to the value of the most recent private placement ($50 per share). Consulting expense in the amount of $72,000 has been recorded for the year ended December 31, 2012.

	In January 2013, the Company granted an additional 218 Class A Membership Interests to one vendor in exchange for consulting services. The fair value of the Class A Membership Interests granted is equal to the value of the most-recent private placement ($50 per Class A Membership Interest). Consulting expense in the amount of $10,900 was recorded for the year ended December 31, 2013.

	In August 2013, the Company engaged a consultant for investor related services for a 12 month term. The Company agreed to pay for the services rendered in cash and a grant of 2,000 Class A Membership Interests which will vest one year after the effective date of the agreement. The Company will expense the fair value of the Class A Membership Interests ($50 per Class A Membership Interest based on the most recent private placement and to be remeasured based on the market value at each reporting date) over the term of the agreement and when the cash is paid. Consulting expense in the amount of $101,666 was recorded for the year ended December 31, 2013.

	In October 2013, the Company engaged a consultant for product development work for a 3 month term completed in December 2013. The Company agreed to pay for the services rendered in cash and a grant of 1,412 Class A Membership Interests. The Company expensed the fair value of the Class A Membership Interests ($50 per Class A Membership Interest based on the most recent private placement). Consulting expense in the amount of $353,000, which includes cash payments and the membership interest grant, was recorded for the year ended December 31, 2013.

	In January 2014, the Company entered into a Product Development Agreement with RRD International, LLC, pursuant to which RRD International, LLC provides certain strategic product development services to the Company during the term of the agreement which is calendar year 2014. These product development services include the development, planning and execution of a fully integrated product development strategy and implementation of that strategy either directly or with third party vendors. As consideration for services rendered, the Company has agreed to pay RRD International, LLC partially in cash and by issuing 7,604 of the Company’s Class A Membership Interests. The Company expensed the fair value of the Class A Membership Interests, $50 per Class A Membership Interest, based on the most recent private placement.

LEASE_OF_OFFICE_SPACE

LEASE OF OFFICE SPACE	3 Months Ended
LEASE OF OFFICE SPACE	Mar. 31, 2014
LEASE OF OFFICE SPACE	'
LEASE OF OFFICE SPACE	'
	NOTE 9 — LEASE OF OFFICE SPACE

	On December 27, 2011, the Company entered into a one year lease agreement with monthly payments of $1,835. The lease expired on January 1, 2013, and the Company did not renew the lease.

	In April 2014, the Company entered into a sublease agreement for office space with current monthly payments of $12,346. The term of the sublease is 24 months with inflationary escalations in 2015 and the first three months of 2016. Total minimum sublease payments for the term of the sublease is $303,012.

LEGAL_MATTERS

LEGAL MATTERS	3 Months Ended
LEGAL MATTERS	Mar. 31, 2014
LEGAL MATTERS	'
LEGAL MATTERS	'
	NOTE 10 — LEGAL MATTERS

	The Company, as well as its two original executives, were three of some thirty defendants in a lawsuit filed by a former stockholder of Genaera Corporation, which was the predecessor of the Trust, the party which sold the Company the worldwide rights to pexiganan, the active ingredient of the Product Locilex ™ on April 8, 2010. The complaint was filed on June 8, 2012 in the United States District Court for the Eastern District of Pennsylvania (Civil Action No. 12-3265) by Alan W. Schmidt, individually and on behalf of former Genaera Corporation shareholders. Among others, the suit was filed against the Company, as well as John A. Skolas and Argyce LCC, who were responsible for the administration of the Trust and who sold pexiganan to the Company via a public auction. The defendants listed in the complaint included several individuals and companies formerly associated with Genera Corporation, the Trust and/or Argyce LLC, as well as against the Company and its two executives, as individuals. Also included in the defendant group were several other pharmaceutical companies that were involved in acquiring the former drug-related assets of the Genaera Corporation and their related institutional and personal investors.

	The complaint alleged, among other things, the Company and its two executives aided and abetted a breach of fiduciary duty alleged to have been committed by Argyce, LLC, the trustee of the Trust, and the Trust as well as former individuals associated with Genaera Corporation before it went into liquidation via a majority vote of its stockholders. Plaintiff claimed that the defendants, aided and abetted a breach of the duties of the trustee under common law and under a certain trust agreement allegedly signed between Argyce, LLC, as the trustee, and the Trust. With regard to the claims made against the Company and two executives, the plaintiff alleged, in pertinent part, that the Company’s acquisition of the pexiganan rights was for alleged inadequate consideration, and that the Company and its management aided and abetted a breach of fiduciary duty by the Genaera Corporation defendants who were formerly associated with Genaera Corporation and/or the Trust.

	The Company and its two executives filed a motion to dismiss the complaint within the prescribed time period. All of the other defendants in this litigation also filed motions to dismiss, and a court order granting each and every motion to dismiss, with prejudice, without leave to refile, was granted by the court on August 12, 2013. Plaintiff’s lawyers then filed a Motion for Reconsideration which was also denied by the court on September 25, 2013. Plaintiff has filed an appeal in the United States Third Circuit Court of Appeals seeking reversal of the court’s orders dismissing the complaint and denying the motion to reconsider. Appellate court briefing is underway and expected to be concluded in mid-2014. The Company and its two executives continue to believe these claims have no merit and will vigorously defend their position in the appellate court. The Company believes that this legal matter will not have a material adverse effect on the Company’s financial position.

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
RELATED PARTY TRANSACTIONS	Mar. 31, 2014
RELATED PARTY TRANSACTIONS	'
RELATED PARTY TRANSACTIONS	'
	NOTE 11 — RELATED PARTY TRANSACTIONS

	The individual employed as the Company’s Vice President, Finance and Corporate Development as of the closing of the initial public offering, is the owner of Aumoe Partners, LLC (“Aumoe”), which was engaged in January 2012 to perform certain financial advisory services.

	The Company incurred $22,500 and $20,000 in fees for services rendered by Aumoe for the three months ended March 31, 2014 and 2013, respectively, and $143,375 for the cumulative period from January 14, 2010 (inception) to March 31, 2014, all of which were recorded in general and administrative expenses.

NET_LOSS_PER_SHARE

NET LOSS PER SHARE	3 Months Ended
NET LOSS PER SHARE	Mar. 31, 2014
NET LOSS PER SHARE	'
NET LOSS PER SHARE	'
	NOTE 12 — NET LOSS PER SHARE

	Basic and diluted net loss per common share for the three months ended March 31, 2014 was determined by dividing net loss by the weighted average common shares outstanding during the period. The Company’s potentially dilutive shares, which include 853,787 of stock options, 63,000 unvested common shares, and 34,300 warrants, have not been included in the computation of diluted net loss per share for all periods as the result would be antidilutive. On March 18, 2014, the Company completed a corporate conversion from a limited liability company to a corporation, (the “Conversion”). Accordingly, the outstanding Class A Membership Interests were converted to shares of common stock using a conversion ratio of 7 to 1, resulting in the conversion of its 767,911 Class A Membership Interests into an aggregate of 5,375,377 shares of common stock. The effects of this Conversion on the Company’s loss per share have been reflected for all periods presented retroactively.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Mar. 31, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
Use of Estimates	'
	Use of Estimates

	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.

Federal Income Taxes	'
	Federal Income Taxes

	The Company estimates an annual effective tax rate of 0% as the Company incurred losses for the three month period ended March 31, 2014 and is forecasting additional losses through year end, resulting in an estimated net loss for both financial statement and tax purposes. Therefore, no current federal or state income tax expense has been recorded in the financial statements.

	Based on the Company’s history of generating operating losses and its anticipation of operating losses continuing in the foreseeable future, the Company has determined that it would be more likely than not that the tax benefits from these net operating losses would not be realized and a full valuation allowance against all deferred tax assets has been recorded. Should the Company’s assessment change, tax benefits associated with the historic net operating loss carryforwards will be limited due to the ownership change.

	Prior to the Company’s corporate conversion in March 2014, the Company was organized as a limited liability company. As such, the Company was not a tax paying entity for Federal income tax purposes and, therefore, no income tax expense has been recorded in the financial statements. Income or losses of the Company was passed through to members for inclusion in their respective income tax returns.

Concentration of Credit Risk	'
	Concentration of Credit Risk

	The Company maintains its cash balance in one financial institution. The balance is insured up to the maximum allowable by the Federal Deposit Insurance Company (“FDIC”). The Company has not experienced any losses in such accounts and does not believe it is exposed to any significant risk of loss on cash. At times, the cash balance may exceed the maximum limit of the FDIC.

Guaranteed Payments to Members	'
	Guaranteed Payments to Members

	Guaranteed payments to members of the Company prior to the March 2014 corporate conversion, that were designated to represent reasonable compensation for services rendered, were accounted for as Company expenses rather than an allocation of the Company’s net income.

Research and Development	'
	Research and Development

	In accordance with Accounting Standards Codification (“ASC”) 730, “Accounting for Research and Development Costs”, the Company expenses research and development costs when incurred. At times the Company may make cash advances for research and development services. These amounts are capitalized and expensed in the period the service is provided. The Company incurred net research and development expenses in the amount of $1,816,690 and $122,701 for the three months ended March 31, 2014 and 2013, respectively, and $5,912,554 for the cumulative period from January 14, 2010 (inception) to March 31, 2014.

Share-Based Compensation	'
	Share-Based Compensation

	The Company accounts for the cost of services performed by officers and directors received in exchange for an award of Company membership interests, common stock, or stock options, based on the grant-date fair value of the award. In accordance with the ASC 718 “Stock Compensation”, the Company recognizes compensation expense, net of estimated forfeitures, on a straight-line basis over the service period.

Share-Based Payments to Vendors	'
	Share-Based Payments to Vendors

	The Company accounts for the cost of services performed by vendors in exchange for an award of Company membership interests or common stock based on the grant-date fair value of the award or fair value of the services rendered; whichever is more readily determinable and adjusted to fair value at each reporting date. The Company recognizes the expense in the same period and in the same manner as if the Company had paid cash for the services. Such fair value is measured as of the earlier of the date the other party becomes committed to provide goods or services or the date performance by the other party is complete.

Deferred Initial Public Offering Costs	'
	Deferred Initial Public Offering Costs

	The Company incurred legal and accounting costs relating to its initial public offering. These specific incremental costs directly attributable to the offering of equity securities were capitalized in other noncurrent assets as of Decemeber 31, 2013. These costs were subsequently applied against the proceeds of the initial public offering which was consummated in March 2014.

ACCOUNTS_PAYABLE_AND_ACCRUED_E1

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)	3 Months Ended
	Mar. 31, 2014
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	'
Schedule of accounts payable and accrued expenses	'


		March 31, 2014		December 31, 2013
	Accrued compensation expense	$	102,529	$	247,845
	Accrued research and development	388,210		367,065
	Accrued professional fees	185,994		160,370
	Other accounts payable and accrued expenses	11,147		48,554
	Total	$	687,880	$	823,834

SHAREBASED_COMPENSATION_and_ST1

SHARE-BASED COMPENSATION and STOCK OPTIONS (Tables)	3 Months Ended
SHARE-BASED COMPENSATION and STOCK OPTIONS (Tables)	Mar. 31, 2014
SHARE-BASED COMPENSATION and STOCK OPTIONS	'
Summary of the non-vested Class A Membership Interests which were converted to Common Stock at a conversion ratio of seven to one, and the associated activity	'


		Class A
		Membership Interests
		converted to Common Stock 7:1 ratio
	Nonvested at January 1, 2013	111,986
	Granted	112,000
	Vested	(146,986	)
	Nonvested at December 31, 2013	77,000
	Granted	—
	Vested	(14,000	)
	Nonvested at March 31, 2014	63,000

Schedule of weighted average assumptions used in determining the fair value of the option awards using the Black-Scholes option pricing model	'


		Three Months Ended
		March 31, 2014
	Expected term	4.2 years
	Volatility	59.6		%
	Dividend yield	0		%
	Risk free interest rate	1.22		%
	Weighted average grant date fair value	$	5.88


Summary of stock option activity	'


		Three Months Ended
		March 31, 2014
	Outstanding at the beginning of the period	—
	Granted	853,787
	Vested	—
	Forfeited	—
	Outstanding and expected to vest at the end of the period	853,787

NATURE_OF_OPERATIONS_Details

NATURE OF OPERATIONS (Details) (USD $)	0 Months Ended	3 Months Ended	50 Months Ended
NATURE OF OPERATIONS (Details) (USD $)	Mar. 18, 2014	Mar. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
NATURE OF OPERATIONS	'	'	'	'
Proceeds from initial public offering of common stock, net of transaction costs	$34,455,669	$34,455,669	$34,455,669	'
Cash balance	'	$36,065,537	$36,065,537	$3,861,145

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	3 Months Ended		50 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
	item	Mar. 31, 2013	item
Federal Income Taxes	'	'	'
Estimated annual effective tax rate (as a percent)	0.00%	'	'
Current federal income tax expense	$0	'	'
Current state income tax expense	0	'	'
Income tax expense	0	'	'
Concentration of Credit Risk	'	'	'
Number of financial institutions in which the entity maintains its cash balance	1	'	1
Research and Development	'	'	'
Net research and development expenses	$1,816,690	$122,701	$5,640,054

ASSET_PURCHASE_Details

ASSET PURCHASE (Details) (Intellectual property and other rights, Trust, USD $)	0 Months Ended
	Mar. 21, 2011
Intellectual property and other rights \| Trust	'
Asset purchase	'
Aggregate payment made to acquire interest in and to the asset	$272,500

ACCOUNTS_PAYABLE_AND_ACCRUED_E2

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	'	'
Accrued compensation expense	$102,529	$247,845
Accrued research and development	388,210	367,065
Accrued professional fees	185,994	160,370
Other accounts payable and accrued expenses	11,147	48,554
Total	$687,880	$823,834

EXECUTIVE_COMPENSATION_Details

EXECUTIVE COMPENSATION (Details) (USD $)	0 Months Ended	1 Months Ended	3 Months Ended		12 Months Ended				50 Months Ended
	Jul. 23, 2010	Jan. 31, 2012	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Mar. 31, 2014
	item	Jan. 31, 2012	item	Mar. 31, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Mar. 31, 2014
EXECUTIVE COMPENSATION	'	'	'	'	'	'	'	'	'
Number of original executives who will receive compensation pursuant to employment agreements	2	'	'	'	'	'	'	'	'
Base salary per annum of executives	'	'	$252,000	'	'	'	'	'	'
Percentage of the base salary payable with the issuance of Class A Membership Interests	'	'	50.00%	'	'	'	'	'	'
Offering price per unit (in dollars per unit)	$50	'	$50	'	$50	$50	$50	$50	'
Threshold aggregate proceeds to be raised from executives for waiver from payment of base salary with issuance of Class A Membership Interests	2,000,000	'	'	'	'	'	'	'	'
Percentage of each waiver revoked by the executives	'	50.00%	'	'	'	'	'	'	'
Class A Membership Interests issued to the two executives (in units)	'	'	0	0	'	'	'	'	12,918
Period of vacation per annum which executives will receive	'	'	'35 days	'	'	'	'	'	'
Compensation expense representing accrued vacation pay	'	'	$10,176	$12,923	'	'	'	'	$183,021
Number of executives by whom Company is managed	'	'	4	'	'	'	'	'	'

ISSUANCE_OF_MEMBERSHIP_INTERES1

ISSUANCE OF MEMBERSHIP INTERESTS and COMMON STOCK (Details) (USD $)

0 Months Ended

3 Months Ended

12 Months Ended

50 Months Ended

0 Months Ended

1 Months Ended

3 Months Ended

12 Months Ended

0 Months Ended

Mar. 18, 2014

Jul. 23, 2010

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

Mar. 31, 2014

Mar. 18, 2014

Feb. 28, 2014

Mar. 31, 2014

Dec. 31, 2010

Feb. 28, 2014

Nov. 15, 2013

Jul. 12, 2013

Feb. 13, 2013

Nov. 21, 2012

Mar. 30, 2012

Oct. 14, 2011

Mar. 20, 2011

Jul. 23, 2010

Nov. 15, 2013

Jul. 12, 2013

Feb. 13, 2013

Nov. 21, 2012

Mar. 30, 2012

Oct. 14, 2011

Mar. 20, 2011

Jul. 23, 2010

Nov. 15, 2013

Jul. 12, 2013

Feb. 13, 2013

Nov. 21, 2012

Mar. 30, 2012

Oct. 14, 2011

Mar. 20, 2011

Jul. 23, 2010

Nov. 15, 2013

Jul. 12, 2013

Feb. 13, 2013

Nov. 21, 2012

Mar. 30, 2012

Oct. 14, 2011

Mar. 20, 2011

Jul. 23, 2010

Class A Membership Interests

Warrants

Securities purchase agreement

Unit

Class A Membership Interests

Warrants

item

Maximum

Issuance of membership interests and common stock

Number of investors with whom entity has entered into agreement for the private placement

Purchase price per unit (in dollars per unit)

$50

Number of membership interests that can be purchased with each unit

Number of Class A Membership Interests that can be purchased with warrant

0.5

Units issued and sold

18,850

55,500

18,000

29,950

10,150

15,350

13,400

28,400

Aggregate membership interests issued and sold

18,850

55,500

18,000

29,950

10,150

15,350

13,400

28,400

Number of Class A Membership Interests that can be purchased with aggregate warrants issued and sold

89,900

9,425

27,750

9,000

14,975

5,075

7,675

6,700

14,200

Gross proceeds

$892,500

$9,669,596

$942,500

$2,775,000

$900,000

$1,497,500

$507,500

$767,500

$670,000

$1,420,000

Exercise period of warrant

'5 years

Exercise price (in dollars per unit)

$60

Membership interests issued to investors in prior financings in exchange for outstanding warrants

23,719

Implied intrinsic value of the warrants (in dollars per share)

$8.57

$2.93

Conversion ratio

Shares of common stock issued in IPO

3,162,000

500,000

Share price of common stock (in dollars per share)

$12

$11.50

Net proceeds from IPO

34,455,669

Underwriting discounts

2,656,500

Offering costs

$837,831

Membership interests converted into shares of common stock

767,911

Shares of common stock issued upon conversion of membership interests

5,375,377

SHAREBASED_COMPENSATION_and_ST2

SHARE-BASED COMPENSATION and STOCK OPTIONS (Details) (USD $)

0 Months Ended

3 Months Ended

12 Months Ended

1 Months Ended

3 Months Ended

12 Months Ended

50 Months Ended

3 Months Ended

12 Months Ended

Jul. 23, 2010

Mar. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2012

Mar. 31, 2014

Dec. 31, 2013

Restricted Class A Membership Interests awards

Non-vested Class A Membership Interests awards converted to Common Stock awards

item

Minimum

Maximum

Share-based compensation and stock options

Vesting period

'3 years

'4 years

Fair value of the membership interests granted (in dollars per share)

$50

Number of members of the board of directors from whom entity has received resignation letters

Membership interests issued in connection with both the accelerated and annual vesting of the awards (in shares)

20,333

Compensation expense associated with accelerated vesting

$693,750

Total compensation expense recorded as director fees

37,500

64,582

1,470,832

Number of board members whose membership interests is vested in full for one board member by board resolution

Non-vested Class A Membership interests converted to common stock at a conversion ratio and the associated activity

Nonvested at the beginning of the period (in shares)

77,000

111,986

Granted (in shares)

112,000

Vested (in shares)

-14,000

-146,986

Nonvested at the end of the period (in shares)

63,000

77,000

Additional disclosures

Number of Membership Interests issued but not vested

1,000

Total unrecognized compensation cost

$429,167

Weighted average period over which total unrecognized compensation cost is expected to be recognized

'3 years

SHAREBASED_COMPENSATION_and_ST3

SHARE-BASED COMPENSATION and STOCK OPTIONS (Details 2) (Stock options, USD $)	1 Months Ended		3 Months Ended
	Mar. 31, 2014	Nov. 30, 2013	Mar. 31, 2014	Mar. 31, 2013
	item	Nov. 30, 2013	item	Mar. 31, 2013
Stock options	'	'	'	'
Share-based compensation and stock options	'	'	'	'
Percentage of the issued and outstanding common stock reserved under the Equity Incentive Plan	'	20.00%	'	'
Awards granted as percentage of common stock outstanding	10.00%	'	'	'
Number of executives to whom awards are granted	4	'	'	'
Number of equal monthly installments in which awards issued under the 2013 Equity Incentive Plan will vest	'	'	36	'
Weighted average assumptions used in determining the fair value of the option awards using the Black-Scholes option pricing model	'	'	'	'
Expected term	'	'	'4 years 2 months 12 days	'
Volatility (as a percent)	'	'	59.60%	'
Dividend yield (as a percent)	'	'	0.00%	'
Risk free interest rate (as a percent)	'	'	1.22%	'
Weighted average grant date fair value (in dollars per share)	'	'	$5.88	'
Company's stock option activity	'	'	'	'
Granted (in shares)	'	'	853,787	'
Outstanding at the end of the period (in shares)	853,787	'	853,787	'
Compensation expense	'	'	$58,460	$0
Total compensation expense not yet recognized	4,960,097	'	4,960,097	'
Weighted average vesting period over which the total compensation expense will be recorded	'	'	'2 years 10 months 24 days	'
Intrinsic value	$0	'	$0	'
Remaining weighted average contractual life	'	'	'6 years 6 months	'
Exercise price (in dollars per share)	$13.93	'	$13.93	'

SHAREBASED_PAYMENTS_TO_VENDORS1

SHARE-BASED PAYMENTS TO VENDORS (Details) (USD $)

0 Months Ended

3 Months Ended

12 Months Ended

1 Months Ended

12 Months Ended

1 Months Ended

12 Months Ended

1 Months Ended

12 Months Ended

1 Months Ended

Jul. 23, 2010

Mar. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Jan. 31, 2013

Dec. 31, 2012

Aug. 31, 2013

Dec. 31, 2013

Aug. 31, 2013

Oct. 31, 2013

Dec. 31, 2013

Oct. 31, 2013

Jan. 31, 2014

Class A Membership Interests

Consultant for consulting services

Consultant for investor related services

Consultant for product development work

RRD International, LLC

Class A Membership Interests

item

Share-based payments to vendors

Membership Interests granted (in units)

1,440

218

1,440

2,000

1,412

7,604

Number of vendors to whom membership interests are granted

Value of recent private placement taken as fair value for the grant of the membership interests (in dollars per share)

$50

Consulting expense

$10,900

$72,000

$101,666

$353,000

Term of services

'12 months

'3 months

Vesting period

'1 year

LEASE_OF_OFFICE_SPACE_Details

LEASE OF OFFICE SPACE (Details) (USD $)	0 Months Ended	1 Months Ended
	Dec. 27, 2011	Apr. 30, 2014
	Dec. 27, 2011	Subsequent event
Lease of office space	'	'
Term of lease agreement	'1 year	'24 months
Monthly payments of lease under agreement	$1,835	$12,436
Total minimum sublease payments	'	$303,012

LEGAL_MATTERS_Details

LEGAL MATTERS (Details) (Lawsuit filed by a former stockholder of Genaera Corporation for breach of fiduciary duty)	0 Months Ended
	Jun. 08, 2012
	item
Lawsuit filed by a former stockholder of Genaera Corporation for breach of fiduciary duty	'
Legal matters	'
Number of defendants represented by original executives	2
Number of defendants represented by executives and the Company	3
Number of defendants in a lawsuit	30

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details) (Aumoe, USD $)	3 Months Ended		50 Months Ended
RELATED PARTY TRANSACTIONS (Details) (Aumoe, USD $)	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
Aumoe	'	'	'
Related party transactions	'	'	'
Fees for services rendered by the related party	$22,500	$20,000	$143,375

NET_LOSS_PER_SHARE_Details

NET LOSS PER SHARE (Details)	0 Months Ended	3 Months Ended		0 Months Ended	1 Months Ended	3 Months Ended
	Mar. 18, 2014	Mar. 31, 2014	Mar. 31, 2013	Mar. 18, 2014	Feb. 28, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014
	Mar. 18, 2014	Mar. 31, 2014	Mar. 31, 2013	Class A Membership Interests	Class A Membership Interests	Class A Membership Interests	Stock options	Warrants	Unvested common shares
Proforma net loss per share	'	'	'	'	'	'	'	'	'
Potentially dilutive shares not been included in the computation of diluted net loss per share as the result would be antidilutive	'	'	'	'	'	'	853,787	34,300	63,000
Conversion ratio used to convert Class A Membership Interests on proforma basis to common shares to calculate the weighted average common shares	7	'	7	'	7	'	'	'	'
Membership interests converted into shares of common stock	'	'	'	767,911	'	'	'	'	'
Shares of common stock issued upon conversion of membership interests	'	5,375,377	'	'	'	-767,911	'	'	'