Lipocine (LPCN) 10-K 11 Mar 15 2014 FY Annual report Financial data

Document_And_Entity_Informatio

Document And Entity Information (USD $)	12 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2014	Mar. 11, 2015	Jun. 30, 2014
Document Information [Line Items]
Document Type	10-K
Amendment Flag	FALSE
Document Period End Date	31-Dec-14
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Entity Registrant Name	Lipocine Inc.
Entity Central Index Key	1535955
Current Fiscal Year End Date	-19
Entity Filer Category	Smaller Reporting Company
Trading Symbol	LPCN
Entity Common Stock, Shares Outstanding		12,848,466
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$70.20

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$27,666,055	$45,263,698
Prepaid and other current assets	229,912	770,030
Total current assets	27,895,967	46,033,728
Property and equipment, net accumulated depreciation of $1,034,029 and $1,019,409, respectively	73,782	28,794
Other assets	23,753	45,000
Total assets	27,993,502	46,107,522
Current liabilities:
Accounts payable	306,276	1,027,021
Accrued expenses	1,327,256	256,754
Total current liabilities	1,633,532	1,283,775
Total liabilities	1,633,532	1,283,775
Commitments and contingencies (notes 7 and 10)
Stockholders' equity:
Preferred stock, par value $0.0001 per share, 10,000,000 shares authorized; zero issued and outstanding	0	0
Common stock, par value $0.0001 per share, 100,000,000 shares authorized; 12,800,382 and 12,668,393 issued and 12,794,672 and 12,668,393 outstanding	1,280	1,267
Additional paid-in capital	94,636,479	92,686,881
Treasury stock at cost, 5,710 and zero shares	-40,712	0
Accumulated deficit	-68,237,077	-47,864,401
Total stockholders' equity	26,359,970	44,823,747
Total liabilities and stockholders' equity	$27,993,502	$46,107,522

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment (in dollars)	$1,034,029	$1,019,409
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	12,800,382	12,668,393
Common stock, shares outstanding	12,794,672	12,668,393
Treasury Stock, Shares	5,710	0

Consolidated_Statements_of_Ope

Consolidated Statements of Operations and Comprehensive Loss (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Operating expenses:
Research and development	$15,479,446	$5,122,864
General and administrative	5,001,368	3,635,690
Reverse merger costs	0	1,011,630
Settlement for termination of certain rights in stock purchase agreement	0	913,446
Total operating expenses	20,480,814	10,683,630
Operating loss	-20,480,814	-10,683,630
Other income, net	108,338	38,476
Loss before income tax expense	-20,372,476	-10,645,154
Income tax benefit (expense)	-200	55,048
Net loss	-20,372,676	-10,590,106
Basic loss per share attributable to common stock (in dollars per share)	($1.60)	($1.44)
Weighted average common shares outstanding, basic (in shares)	12,766,295	7,363,076
Diluted loss per share attributable to common stock (in dollars per share)	($1.60)	($1.44)
Weighted average common shares outstanding, diluted (in shares)	12,766,295	7,363,076
Comprehensive loss	($20,372,676)	($10,590,106)

Consolidated_Statements_of_Cha

Consolidated Statements of Changes in Stockholders' Equity (USD $)	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]
Balances at Dec. 31, 2012	$5,316,193	$446	$0	$42,590,042	($37,274,295)
Balances in (shares) at Dec. 31, 2012		4,455,790	0
Net loss	-10,590,106	0	0	0	-10,590,106
Stock-based compensation	979,151	0	0	979,151	0
Option exercises	10,575	0	0	10,575	0
Option exercises in (shares)	3,761	3,761	0
Vesting of restricted stock awards	0	1	0	-1	0
Vesting of restricted stock awards in (shares)		7,763	0
Repurchase and retirement of common stock	-53,100	-1	0	-53,099	0
Repurchase and retirement of common stock in (shares)		-8,626	0
Issuance of common stock in private offering	35,709,645	634	0	35,709,011	0
Issuance of common stock in private offering in (shares)		6,336,664	0
Issuance of common stock in offering	12,537,943	172	0	12,537,771	0
Issuance of common stock in offering in (shares)		1,715,800	0
Common stock issued in reverse merger		5,000	0
Issuance of common stock for termination of certain rights in stock purchase agreement	913,446	15	0	913,431	0
Issuance of common stock for termination of certain rights in stock purchase agreement in (shares)		152,241	0
Balances at Dec. 31, 2013	44,823,747	1,267	0	92,686,881	-47,864,401
Balances in (shares) at Dec. 31, 2013		12,668,393	0
Net loss	-20,372,676	0	0	0	-20,372,676
Stock-based compensation	1,892,835	0	0	1,892,835	0
Option exercises	56,776	2	0	56,774	0
Option exercises in (shares)	20,205	20,205	0
Vesting of restricted stock awards	0	10	0	-10	0
Vesting of restricted stock awards in (shares)		96,784	0
Vesting or restricted stock units	0	1	0	-1	0
Vesting or restricted stock units in (shares)		15,000	0
Purchase of treasury stock	-40,712		-40,712	0	0
Purchase of treasury stock in (shares)		-5,710	5,710
Balances at Dec. 31, 2014	$26,359,970	$1,280	($40,712)	$94,636,479	($68,237,077)
Balances in (shares) at Dec. 31, 2014		12,794,672	5,710

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net loss	($20,372,676)	($10,590,106)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation and amortization	14,620	21,767
Forgiveness of related party receivable	0	3,815
Stock-based compensation expense	1,892,835	979,151
Settlement for termination of certain rights in stock purchase agreement	0	913,446
Changes in operating assets and liabilities:
Prepaid and other current assets	540,118	-679,096
Accounts payable	-449,562	668,811
Accrued expenses	1,070,502	148,804
Income taxes payable	0	-55,048
Cash used in operating activities	-17,304,163	-8,588,456
Cash flows from investing activities:
Refund of long-term rental deposit	21,247	0
Purchases of property and equipment	-59,608	-1,206
Cash used in investing activities	-38,361	-1,206
Cash flows from financing activities:
Proceeds from stock option exercises	16,064	10,575
Net proceeds from common stock offerings	0	48,518,771
Payment of accrued common stock offering costs	-271,183	0
Purchase of restricted stock from employees	0	-53,100
Cash provided by financing activities	-255,119	48,476,246
Net decrease in cash and cash equivalents	-17,597,643	39,886,584
Cash and cash equivalents at beginning of period	45,263,698	5,377,114
Cash and cash equivalents at end of period	27,666,055	45,263,698
Supplemental disclosure of non-cash financing activities:
Stock received as consideration for stock option exercises and recognized as treasury stock	40,712	0
Common Stock [Member]
Cash flows from operating activities:
Net loss	0	0
Supplemental disclosure of non-cash financing activities:
Accrued common stock offering costs	$0	$271,183

Description_of_Business

Description of Business	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Nature of Operations [Text Block]	-1	Description of Business
	Lipocine Inc. (“Lipocine” or the “Company”) is engaged in research and development for the delivery of drugs using its proprietary delivery technology. The Company’s principal operation is to provide oral delivery solutions for existing drugs. Lipocine develops its own drug candidates or it develops drug candidates on behalf of or in collaboration with corporate partners. The Company has funded operating costs primarily through collaborative license, milestone and research arrangements, through federal grants and through the sale of equity securities. The Company is incorporated under the laws of the State of Delaware.

Merger_Agreement

Merger Agreement	12 Months Ended
	Dec. 31, 2014
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	-2	Merger Agreement
	On July 24, 2013, Marathon Bar Corp. (“Marathon Bar”), a Delaware corporation and MBAR Acquisition Corp. (“Merger Sub”), a wholly owned subsidiary of Marathon Bar, and Lipocine Operating Inc. (“Lipocine Operating”), a privately held company incorporated in Delaware, executed an Agreement and Plan of Merger (“Merger Agreement”). Pursuant to the Merger Agreement, Merger Sub merged with and into Lipocine Operating and Lipocine Operating was the surviving entity. Additionally pursuant to the Merger Agreement, Marathon Bar changed its name to Lipocine Inc.
	The Merger is accounted for as a reverse-merger and recapitalization. Lipocine Operating is the acquirer for financial reporting purposes and Marathon Bar is the acquired company. Consequently, the assets and liabilities and the operations that are reflected in the historical financial statements prior to the Merger are those of Lipocine Operating and are recorded at the historical cost basis of Lipocine Operating, and the consolidated financial statements after completion of the Merger include the assets, liabilities and operations of Marathon Bar and Lipocine Operating (“Combined Company”), from the closing date of the Merger. Therefore, the historical equity accounts and awards of Lipocine, including par value per share, share and per share numbers, have been adjusted to reflect the number of shares received in the Merger.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	-3	Summary of Significant Accounting Policies
		(a)	Use of Estimates
	The preparation of financial statements in conformity with U.S. generally accepted accounting principles 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 revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include those related to revenue recognition; stock-based compensation; valuation of deferred taxes; income tax uncertainties; and the useful lives of property and equipment.
		(b)	Cash and Cash Equivalents
	The Company considers all highly liquid investments with original maturities to the Company of three months or less to be cash equivalents. Although the Company may deposit its cash and cash equivalents with multiple financial institutions, its deposits, at times, may exceed federally insured limits. Cash equivalents were zero and $1.9 million for December 31, 2014 and 2013.
		(c)	Receivables
	Accounts receivable are recorded at the invoiced amount and do not bear interest.
	The Company maintains an allowance for doubtful accounts for estimated losses. In establishing the allowance, management considers historical losses adjusted to take into account current market conditions and their customers’ financial condition, the amount of receivables in dispute, and the current receivables aging and current payment patterns. The Company had no write-offs in 2014 and 2013 and the Company did not record an allowance for doubtful accounts as of December 31, 2014 and 2013 as there were no accounts receivable outstanding. The Company does not have any off-balance-sheet credit exposure related to its customers.
		(d)	Revenue Recognition
	Revenue is recognized when there is persuasive evidence that an arrangement exists, delivery has occurred, the price is fixed or determinable, and collectability is reasonably assured. The Company recognizes up-front license fees as earned. Milestone payments are recognized upon successful completion of a performance milestone event. Contract revenues related to collaborative research and development agreements are recognized on a ratable basis as services are performed. Any amounts received in advance of performance are recorded as deferred revenue until earned.
	The Company enters into arrangements with collaboration partners that sometimes involve multiple deliverables. These arrangements may contain one or more of the following elements: license and other up-front fees, contract research and development services, milestone payments and royalties. Each deliverable in the arrangement is evaluated to determine whether it meets the criteria to be accounted for as a separate unit of accounting or whether it should be combined with other deliverables. When deliverables are separable, consideration is allocated to the separate units of accounting based upon the relative selling price method, and appropriate revenue recognition principles are applied to each unit. When the Company determines that the arrangement should be accounted for as a single unit of accounting, revenue is recognized over the period for which performance obligations will be performed.
	Up-front, nonrefundable fees and milestone payments received by the Company under license and collaboration arrangements that include future obligations, in whatever form, are recognized ratably over the expected performance period under each respective arrangement. Under these arrangements, the Company makes its best estimate of the period over which it expects to fulfill its performance obligations, which may include technology transfer assistance, research activities, clinical development activities, and manufacturing activities from development through the commercialization of the product. Given the uncertainties of these extended collaboration arrangements, significant judgment is required to determine the duration of the performance period. For license and collaboration arrangements where no future performance obligations exist, up-front, nonrefundable fees and milestone payments are recognized when received. Any amounts received in advance of performance are recorded as deferred revenue until recognized.
	The Company may provide research and development services under collaboration arrangements to advance the development of jointly owned products. The Company records the expenses incurred and reimbursed on a net basis.
		(e)	Property and Equipment
	Property and equipment are recorded at cost, less accumulated depreciation. Maintenance and repairs that do not extend the life or improve the asset are expensed in the year incurred.
	Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which are five years for laboratory and office equipment, three years for computer equipment and software, and seven years for furniture and fixtures.
		(f)	Accounting for Impairment of Long-Lived Assets
	Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets held and used is measured by a comparison of the carrying amount of an asset to future net cash flows (undiscounted) expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets held for sale are reported at the lower of the carrying amount, or fair value, less costs to sell.
		(g)	Income Taxes
	Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided against net deferred tax assets if, based upon the available evidence, it is more likely than not that some or all of the net deferred tax assets will not be realized.
	The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50 percent likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest and penalties related to unrecognized tax benefits as a component of its income tax expense.
		(h)	Share-Based Payments
	The Company recognizes stock-based compensation expense for grants of stock option awards, restricted stock units and restricted stock under the Company’s Incentive Plan to employees and nonemployee members of the Company’s board of directors based on the grant-date fair value of those awards. The grant-date fair value of an award is generally recognized as compensation expense over the award’s requisite service period. In addition, the Company has granted performance-based stock option awards and restricted stock grants, which vest based upon the Company satisfying certain performance conditions. Potential compensation cost, measured on the grant date, related to these performance options will be recognized only if, and when, the Company estimates that these options will vest, which is based on whether the Company considers the options’ performance conditions to be probable of attainment. The Company’s estimates of the number of performance-based options that will vest will be revised, if necessary, in subsequent periods. In addition, the Company grants stock options to nonemployee consultants from time to time in exchange for services performed for the Company. Equity instruments granted to nonemployees are subject to periodic revaluation over their vesting terms.
	During November 2014, the Company modified 149,498 existing time-vested options of two terminated executives by extending the exercise period to three years from the date of modification under the terms of the executive's respective employment and severance agreements. Compensation expense of $166,000 was recorded as a result of the modification. On January 6, 2014, we modified 366,126 existing time-vested and performance options as well as restricted stock awards of two retiring board of directors by fully vesting all unvested equity awards and extending the exercise period to three years from the date of modification. Compensation expense of $836,000 was recorded as a result of the modification. On January 31, 2013, the Company modified 907,336 existing time-vested and performance stock options by lowering the exercise price to $2.81. Additionally, the Company modified the vesting terms for its unvested performance stock options and unvested restricted stock to vest on the earlier of the first dosing in the pivotal clinical study for its lead drug candidate, or 50% on January 31, 2014 and 50% on January 31, 2015. Compensation expense of $422,000 was recorded as a result of the modifications. In August 2013, the Company determined that it was probable that the performance milestone related to these unvested stock options and restricted stock awards would occur. As a result, the remaining compensation expense between the date the milestone became probable and the expected milestone date of February 2014 was recognized ratably over that period.
	The Company uses the Black-Scholes model to compute the estimated fair value of stock option awards. Using this model, fair value is calculated based on assumptions with respect to (i) expected volatility of the Company’s Common Stock price, (ii) the periods of time over which employees and members of the board of directors are expected to hold their options prior to exercise (expected term), (iii) expected dividend yield on the Common Stock, and (iv) risk-free interest rates. Stock-based compensation expense also includes an estimate, which is made at the time of grant, of the number of awards that are expected to be forfeited. This estimate is revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Stock-based compensation cost that has been expensed in the statements of operations amounted to $1.9 million and $979,000 for the years ended December 31, 2014 and 2013, allocated as follows:
			Year Ended
			December 31,
			2014			2013
	Research and development		$	579,711		$	303,177
	General and administrative			1,313,124			675,974
			$	1,892,835		$	979,151
	In 2014, the Company issued 337,689 stock options. In 2013, the Company issued 354,027 stock options, 15,000 restricted stock units and 12,000 restricted stock awards.
	Key assumptions used in the determination of the fair value of stock options granted are as follows:
	Expected Term: The expected term represents the period that the stock-based awards are expected to be outstanding. Due to limited historical experience of similar awards, the expected term was estimated using the simplified method in accordance with the provisions of Staff Accounting Bulletin (“SAB”) No. 107, Share-Based Payment, for awards with stated or implied service periods. The simplified method defines the expected term as the average of the contractual term and the vesting period of the stock option. For awards with performance conditions, and that have the contractual term to satisfy the performance condition, the contractual term was used.
	Risk-Free Interest Rate: The risk-free interest rate used was based on the implied yield currently available on U.S. Treasury issues with an equivalent remaining term.
	Expected Dividend: The expected dividend assumption is based on management’s current expectation about the Company’s anticipated dividend policy. The Company does not anticipate declaring dividends in the foreseeable future.
	Expected Volatility: Since the Company did not have sufficient trading history, the volatility factor was based on the average of similar public companies through August 2014. When selecting similar companies, the Company considered the industry, stage of life cycle, size, and financial leverage. Beginning in August 2014, the volatility factor was based on a combination of the Company’s  trading history since March 2014 and the average of similar public companies.
	For options granted in 2014 and 2013, the Company calculated the fair value of each option grant on the respective dates of grant using the following weighted average assumptions:
			2014		2013
	Expected term		5.87 years		5.88 years
	Risk-free interest rate		1.75	%	1.38	%
	Expected dividend yield		—		—
	Expected volatility		76.3	%	68.27	%
	Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 718, Stock Compensation requires the Company to recognize compensation expense for the portion of options that are expected to vest. Therefore, the Company applied estimated forfeiture rates that were derived from historical employee termination behavior. If the actual number of forfeitures differs from those estimated by management, additional adjustments to compensation expense may be required in future periods.
	As of December 31, 2014, there was $1.6 million of total unrecognized compensation cost related to unvested share-based compensation arrangements granted under the Company’s stock option plan. That cost is expected to be recognized over a weighted average period of 2.44 years and will be adjusted for subsequent changes in estimated forfeitures. The weighted average fair value of share-based compensation awards granted during the year ended December 31, 2014 was approximately $5.45.
		(i)	Fair Value
	The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels:
		•	Level 1 Inputs: Quoted prices for identical instruments in active markets.
		•	Level 2 Inputs: Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuation in which all significant inputs and significant value drivers are observable in active markets.
		•	Level 3 Inputs: Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.
	For prepaid and other current assets, related-party receivable, accounts payable, and accrued expenses, the carrying amounts approximate fair value because of the short maturity of these instruments.
	At December 31, 2014, the Company did not have any assets and liabilities that were measured at fair value on a recurring basis using quoted prices in active markets for identical instruments (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). The following table presents the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a recurring basis at December 31, 2013:
			December 31,			Fair value measurements at reporting date using
			2013			Level 1 inputs		Level 2 inputs		Level 3 inputs
	Assets:
	Cash equivalents-money market funds		$	1,933,480		$	1,933,480	$	-	$	-
			$	1,933,480		$	1,933,480	$	-	$	-
	The following methods and assumptions were used to determine the fair value of each class of assets and liabilities recorded at fair value in the balance sheets:
	Cash equivalents: Cash equivalents primarily consist of highly rated money market funds with original maturities to the Company of three months or less, and are purchased daily at par value with specified yield rates. Due to the high ratings and short-term nature of the funds, the Company considers all cash equivalents as Level 1.
	The Company’s accounting policy is to recognize transfers between levels of the fair value hierarchy on the date of the event or change in circumstances that caused the transfer. There were no transfers into or out of Level 1 for the years ended December 31, 2014 or 2013.
		(j)	Earnings (Loss) per Share
	Basic earnings (loss) per share is calculated by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the period. Net income (loss) available to common shareholders for the year ended December 31, 2014 and 2013 was calculated using the two-class method, which is an earnings (loss) allocation method for computing earnings (loss) per share when an entity’s capital structure includes common stock and participating securities. The two-class method determines earnings (losses) per share based on dividends declared on common stock and participating securities (i.e., distributed earnings) and participation rights of participating securities in any undistributed earnings (loss). The application of the two-class method was required since the Company’s unvested restricted stock contains non-forfeitable rights to dividends or dividend equivalents. However, unvested restricted stock grants are not included in computing basic earnings (loss) per share for periods where the Company has losses as these securities are not contractually obligated to share in losses of the Company.
	Diluted earnings (loss) per share is based on the weighted average number of common shares outstanding plus, where applicable, the additional potential common shares that would have been outstanding related to dilutive options, warrants, and unvested restricted stock to the extent such shares are dilutive.
	The following table sets forth the computation of basic and diluted earnings (loss) per share of common stock for the years ended December 31, 2014 and 2013..
		Year Ended December 31,
		2014			2013
Basic loss per share attributable to common stock:
Numerator
Net loss		$	-20,372,676		$	-10,590,106
Denominator
Weighted avg. common shares outstanding			12,766,295			7,363,076
Basic loss per share attributable to common stock		$	-1.6		$	-1.44
Diluted loss per share attributable to common stock:
Numerator
Net loss		$	-20,372,676		$	-10,590,106
Denominator
Weighted avg. common shares outstanding			12,766,295			7,363,076
Diluted loss per share attributable to common stock		$	-1.6		$	-1.44
The computation of diluted earnings per share for the years ended December 31, 2014 and 2013 does not include the following unvested restricted stock awards, restricted stock units, stock options and warrants to purchase shares in the computation of diluted earnings per share because these instruments were antidilutive:
		December 31,
		2014		2013
Stock options		1,528,737		1,264,345
Unvested restricted stock		7,000		103,784
Unvested restricted stock units		-		15,000
Warrants		20,467		20,467
	(k)	Segment Information
The Company is a single reportable segment engaged in research and development for the delivery of drugs using its proprietary delivery technology. Operating segments are identified as components of an enterprise for which separate discrete financial information is available for evaluation by the chief operating decision maker in making decisions regarding resource allocation and assessing performance. The chief operating decision maker made such decisions and assessed performance at the company level, as one segment.
	(L)	Principles of Consolidation
		The consolidated financial statements include the accounts of the Company and all subsidiaries. The Company eliminates all intercompany accounts and transactions in consolidation.

Collaborative_Agreements

Collaborative Agreements	12 Months Ended
	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Collaborative Arrangement Disclosure [Text Block]	-4	Collaborative Agreements
		(a)	Abbott Products, Inc.
	On March 29, 2012, the Company terminated its collaborative agreement with Solvay Pharmaceuticals, Inc. (later acquired by Abbott Products, Inc.). As part of the termination, the Company reacquired the rights to the intellectual property from Abbott. All obligations under the prior license agreement have been completed except that Lipocine will owe Abbott a perpetual 1.5% royalty on net sales should Lipocine decide to use certain Solvay/Abbott formulations or a perpetual 1% royalty on net sales should Lipocine use data generated during the term of the Solvay/Abbott agreement in any regulatory filings for a product. Such royalties are limited to $1.0 million in the first two calendar years following product launch, after which period there is not a cap on royalties and no maximum aggregate amount. If generic versions of any such product are introduced, then royalties are reduced by 50%. The Company did not incur any royalties during the years ended December 31, 2014 and 2013.
		(b)	Nexgen Pharma, Inc.
	On May 21, 2011, the Company entered into a collaborative product development agreement with Nexgen Pharma, Inc. (“Nexgen”). Under the agreement, the parties agreed to jointly develop certain products for the treatment of coughs and colds and to share future revenues from those products. Nexgen agreed to reimburse the Company at cost for all future clinical costs incurred in the development of the products. The Company is responsible for certain new drug application (“NDA”) filing costs with the Food and Drug Administration (“FDA”) under terms of this contract and, additionally, will participate on a joint steering committee with Nexgen for the development, regulatory, and manufacturing strategy of product candidates. On July 23, 2013, the Company transferred all rights and obligations under this agreement to Spriaso, LLC ("Spriaso") (see note 11). As a result, the Company was not entitled to reimbursement for any amounts during the year ended December 31, 2014, while Nexgen reimbursed the Company for a total of $468,000 during the year ended December 31, 2013 for related expenses under the agreement, which the Company recorded, net, as research and development expense.
		(c)	Contract Research and Development
	The Company has entered into agreements with various contract organizations that conduct preclinical, clinical, analytical and manufacturing development work on behalf of the Company as well as a number of independent contractors, primarily clinical researchers, who serve as advisors to the Company. The Company incurred expenses of $12.9 million and $3.4 million under these agreements in 2014 and 2013 and has recorded these expenses in research and development expenses.

Property_and_Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Property, Plant, and Equipment and Intangible Assets [Text Block]	-5	Property and Equipment
	Property and equipment consisted of the following:
			December 31,		December 31,
			2014		2013
	Lab and office equipment		$	41,792	$	36,755
	Computer equipment and software			1,014,615		960,044
	Furniture and fixtures			51,404		51,404
				1,107,811		1,048,203
	Less accumulated depreciation			-1,034,029		-1,019,409
			$	73,782	$	28,794
	Depreciation and amortization expense for the years ended December 31, 2014 and 2013 was $15,000 and $22,000.

Income_Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	-6	Income Taxes
		(a)	Income Tax Expense
	Income tax expense consists of:
			Current		Deferred		Total
	Year ended December 31, 2014:
	State and local		$	200	$	-	$	200
			$	200	$	-	$	200
	Year ended December 31, 2013:
	U.S. federal		$	-55,148	$	-	$	-55,148
	State and local			100		-		100
			$	-55,048	$	-	$	-55,048
		(b)	Tax Rate Reconciliation
			Income tax expense (benefit) was $200 and ($55,000) for the years ended December 31, 2014 and 2013 and differed from the amounts computed by applying the U.S. federal income tax rate of 34% to pretax income from continuing operations as a result of the following:
			December 31,
			2014		2013
	Computed "expected" tax benefit		$	-6,926,642	$	-3,619,353
	Increase (reduction) in income taxes resulting from:
	Change in valuation allowance			7,748,579		-493,355
	Loss of tax attributes due to change in ownership			-127,572		3,540,653
	Transaction fees			-		394,803
	Settlement for termination of stock rights			-		310,572
	State and local income taxes, net of federal income tax benefit			132		66
	Stock expense			45,097		85,270
	Research and development tax credits			-743,186		-227,189
	Other, net			3,792		-46,515
			$	200	$	-55,048
		(c)	Significant Components of Deferred Taxes
	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2014 and 2013 are presented below.
			December 31,
			2014		2013
	Deferred tax assets:
	Stock-based compensation		$	1,851,668	$	1,152,904
	Net operating loss carryforwards			17,479,654		10,041,416
	Employee benefits			41,568		59,505
	Research and development tax credits			1,419,165		410,490
	Other deductible tempory differences			97,656		-
	Total gross deferred tax assets			20,889,711		11,664,315
	Less valuation allowance			-20,886,811		-11,660,247
	Net deferred tax assets			2,900		4,068
	Deferred tax liabilities:
	Plant and equipment			-2,900		-4,068
	Total gross deferred tax liabilities			-2,900		-4,068
	Net deferred tax liabilities		$	-	$	-
	On December 19, 2014, the Tax Increase Prevention Act of 2014, which includes an extension of the research and experimentation tax credit for amounts paid or incurred through December 31, 2014, retroactive to January 1, 2014, with no substantive changes to the credit, was signed into law.
	The valuation allowance for deferred tax assets as of December 31, 2014 and 2013 was $20.9 million and $11.7 million. The net change in the valuation allowance was an increase of $9.2 million and $41,000 in 2014 and 2013. A valuation allowance has been provided for the full amount of the Company’s net deferred tax assets as the Company believes it is more likely than not that these benefits will not be realized. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities (including the impact of available carryback and carryforward periods), projected future taxable income, and tax planning strategies in making this assessment.
	During the year ended December 31, 2013, the Company experienced a change in ownership, as defined by the Internal Revenue Code, as amended (the “Code”) under Section 382. A change of ownership occurs when ownership of a company increases by more than 50 percentage points over a three-year testing period of certain stockholders. As a result of this ownership change we determined that our annual limitation on the utilization of our federal net operating loss (“NOL”) and credit carryforwards is approximately $1.1 million per year. We will only be able to utilize $20.2 million of our pre-ownership change NOL carryforwards and will forgo utilizing $5.5 million of our pre-ownership change NOL carryforwards and $1.2 million of our pre-change credit carryforwards as a result of this ownership change. We do not account for forgone NOL and credit carryovers in our deferred tax assets and only account for the NOL and credit carryforwards that will not expire unutilized as a result of the restrictions of Code Section 382.
	As of December 31, 2014, we had NOL and research and development credit carryforwards for U.S. federal income tax reporting purposes of approximately $44.1 million and $911,000, respectively. Approximately $10.2 million of the NOLs will begin to expire in 2023 with the balance expiring from 2024 through 2034 and the research and development credits will expire in 2034.
	We also have state NOL and research and development credit carry-forwards of approximately $50.0 million and $508,000, respectively. Approximately $12.4 million of the Company's state NOLs expire in 2018 with the remaining balance expiring from 2019 through 2029. The state research and development credits expire in 2023 through 2028.
	The Company's federal and state income tax returns for December 31, 2011 through 2014 are open tax years.
	A reconciliation of the beginning and ending amount of total unrecognized tax contingencies, excluding interest and penalties, for the years ended December 31, 2014 and 2013 are as follows:
			December 31
			2014		2013
	Balance, beginning of year		$	-	$	28,304
	Balance, end of year		$	-	$	-
	The unrecognized tax contingency has been reversed in the 2013 tax provision to reflect the Company’s ability to afford itself of tax law which negates the contingency.

Leases

Leases	12 Months Ended
	Dec. 31, 2014
Leases [Abstract]
Leases of Lessee Disclosure [Text Block]	-7	Leases
	On August 6, 2004, the Company assumed a noncancelable operating lease for office space and laboratory facilities. On May 6, 2014, the Company modified and extended the lease through February 28, 2018.
	Future minimum lease payments under the noncancelable operating lease as of December 31, 2014 are:
			Operating
			leases
	Year ending December 31:
	2015			285,756
	2016			294,373
	2017			303,119
	2018			51,903
	Total minimum lease payments		$	935,151
	The Company’s rent expense was $327,000 and $356,000 for the years ended December 31, 2014 and 2013.

Stockholders_Equity

Stockholders' Equity

12 Months Ended

Dec. 31, 2014

Stockholders Equity Note [Abstract]

Stockholders Equity Note Disclosure [Text Block]

-8

Stockholders’ Equity

(a)

Issuance of Common Stock

On July 24, 2013, the Company issued 152,241 shares of common stock to an existing shareholder for the termination of certain rights, including an anti-dilutive provision, contained in its stock purchase agreement. As a result of the common stock issuance, the Company recorded an operating expense of $913,446 during the year ended December 31, 2013.

On July 30, 2013, the Company sold 6,336,664 shares of common stock to certain accredited investors. Net proceeds to the Company from the sale totaled approximately $35.7 million, after deducting the direct and incremental expenses of the offering and the commissions in connection with the offering paid by the Company of $2.3 million. On November 29, 2013 and December 6, 2013, the Company sold 1,715,800 shares of common stock in an underwritten offering. Net proceeds to the Company from the sale totaled approximately $12.5 million, after deducting the direct and incremental expenses of the offering and the commissions in connection with the offering paid by the Company of $1.6 million.

(b)

Stock Option Plan

In April 2014, the board of directors adopted the 2014 Stock and Incentive Plan ("2014 Plan") subject to shareholder approval which was received in June 2014. The 2014 Plan provides for the granting of nonqualified and incentive stock options, stock appreciation rights, restricted stock units, restricted stock and dividend equivalents. An aggregate of 1,000,000 shares are authorized for issuance under the 2014 Plan. Additionally, 271,906 remaining authorized shares under the 2011 Equity Incentive Plan ("2011 Plan") were issuable under the 2014 Plan at the time of the 2014 Plan adoption. In January 2011, the board of directors adopted the 2011 Plan that provides for the granting of nonqualified and incentive stock options, restricted stock units and restricted stock. The 2011 Plan assumed all of the obligations, which existed under the previous 2000 Stock Option Plan. Under the 2011 Plan, the Company has granted nonqualified and incentive stock options for the purchase of common stock to directors, employees and nonemployees providing services to the Company. The board of directors, on an option-by-option basis, determines the number of shares, exercise price, term, and vesting period. Options granted generally have a ten-year contractual life. The Company issues shares of common stock upon the exercise of options with the source of those shares of common stock being either newly issued shares or shares held in treasury. An aggregate of 1,271,906 shares are authorized for issuance under the 2014 Plan, with 1,020,076 shares remaining available for grant as of December 31, 2014.

A summary of stock option activity is as follows:

Outstanding stock options

Weighted

Number of

average exercise

shares

price

Balance at December 31, 2013

1,264,345

$

3.25

Options granted

337,689

8.24

Options exercised

-20,205

2.81

Options forfeited

-51,980

7.72

Options cancelled

-1,112

12.84

Balance at December 31, 2014

1,528,737

4.2

Options exercisable at December 31, 2014

1,143,920

3.14

The following table summarizes information about stock options outstanding and exercisable at December 31, 2014:

Options outstanding

Options exercisable

Weighted

Weighted

average

average

remaining

Weighted

remaining

Weighted

contractual

average

contractual

average

Number

life

exercise

Aggregate intrinsic

Number

life

exercise

Aggregate

outstanding

(Years)

price

value

exerciseable

(Years)

price

intrinsic value

1,528,737

7.17

$

4.2

$

2,732,092

1,143,920

6.45

$

3.14

$

2,607,844

The intrinsic value for stock options is defined as the difference between the current market value and the exercise price. The total intrinsic value of stock options exercised during the years ended December 31, 2014 and 2013 was $87,000 and $12,000. There were 20,205 and 3,761 stock options exercised during the years ended December 31, 2014 and 2013.

(c)

Restricted Common Stock

In 2010, the Company issued 112,720 shares of restricted common stock to employees. Ten percent of the issued restricted common stock vested on December 31, 2011. The remaining ninety percent of the restricted shares were modified on January 31, 2013 to vest on the earlier of the first dosing in the pivotal clinical study for its lead drug candidate, or 50% on January 31, 2014 and 50% on January 31, 2015. Compensation expense was recorded as a result of the modification (see note 8(b)). The grant date fair value of these shares when issued was $5.75 per share. The Company includes unvested restricted stock in outstanding shares for financial reporting purposes when the awards vest.

On June 28, 2013, the Company accelerated the vesting of 7,763 shares of restricted common stock and repurchased a combined total of 8,626 shares of common stock from six employees at a price of $6.16 per share. The acceleration of the vesting resulted in the recognition of $16,000 in stock-based compensation expense. The repurchased shares were retired during the reverse merger and charged against additional paid-in-capital (see note 2).

On September 16, 2013, the Company issued 12,000 shares of restricted common stock to an employee. These shares vest over time with one-third vesting on the one-year anniversary of award, with the balance vesting monthly on a pro-rata basis over the subsequent two years.

Additionally, restricted shares issued to two members of the board of directors were further modified upon their retirement on January 6, 2014 to fully vest unvested restricted shares. Compensation expense was recorded as a result of the modifications (see note 3(h)). The grant date fair value of these shares when issued was $5.75 per share.

A summary of restricted common stock activity is as follows:

Number of unvested

restricted shares

Balance at December 31, 2013

103,784

Granted

-

Vested

-96,784

Cancelled

-

Balance at December 31, 2014

7,000

(d)

Restricted Stock Units

On December 10, 2013, the Company issued 15,000 shares of restricted stock units to employees. These units cliff vest on December 31, 2014.

A summary of restricted stock unit activity is as follows:

Restricted

Stock Units

Balance at December 31, 2013

15,000

Granted

-

Vested

-15,000

Cancelled

-

Balance at December 31, 2014

-

(e)

Warrants

For charitable purposes, on December 23, 2003, the Company granted warrants to a local university for 20,467 shares of common stock at a price of $12.21 per share with an original expiration date of December 31, 2010. In January 2011, the Company extended the term to December 31, 2015 at the same price.

401k_Plan

401(k) Plan	12 Months Ended
	Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]
Compensation and Employee Benefit Plans [Text Block]	-9	401(k) Plan
	On January 1, 2002, the Company adopted a tax qualified employee savings and retirement plan (the “401(k) Plan”) covering eligible employees. Pursuant to the 401(k) Plan, employees may elect to reduce current compensation by a percentage of eligible compensation, not to exceed legal limits, and contribute the amount of such reduction to the 401(k) Plan. Beginning April 1, 2014, the 401(k) Plan was amended to require matching contributions to the 401(k) Plan by the Company on behalf of the participants of 100 percent Company match on up to four percent of an employee's compensation computed on a per pay period basis. Prior to April 1, 2014, the 401(k) Plan permitted but did not require additional matching and profit sharing contributions to the 401(k) Plan by the Company on behalf of the participants. The Company contributed $48,000 to the 401(k) Plan during the year ended December 31, 2014 and did not make any contributions to the 401(k) Plan during the year ended December 31, 2013.

Commitments_and_Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	-10	Commitments and Contingencies
			Guarantees and Indemnifications
	In the ordinary course of business, the Company enters into agreements, such as lease agreements, licensing agreements, clinical trial agreements, and certain services agreements, containing standard guarantee and / or indemnifications provisions. Additionally, the Company has indemnified its directors and officers to the maximum extent permitted under the laws of the State of Delaware.

Agreement_with_Spriaso_LLC

Agreement with Spriaso, LLC	12 Months Ended
	Dec. 31, 2014
Agreement with Spriaso LLC [Abstract]
Agreement with Spriaso LLC Disclosure [Text Block]	-11	Agreement with Spriaso, LLC
	On July 23, 2013, the Company entered into an assignment/license and a services agreement with Spriaso, LLC (“Spriaso”), a related-party that is majority-owned by two current directors of Lipocine Inc. and two former directors of Lipocine Inc. Under the license agreement, the Company assigned and transferred to Spriaso all of the Company’s rights, title and interest in its intellectual property to develop products for the cough and cold field. In addition, Spriaso received all rights and obligations under the Company’s product development agreement with Nexgen. In exchange, the Company will receive a royalty of 20 percent of the net proceeds received by Spriaso, up to a maximum of $10 million. Spriaso also granted back to the Company an exclusive license to such intellectual property to develop products outside of the cough and cold field. Under the service agreement, the Company will provide facilities and up to 10 percent of the services of certain employees to Spriaso for a period of 18 months which expired January 23, 2015. Effective January 23, 2015, The Company entered into an amended services agreement with Spriaso in which the Company agreed to continue providing up to 10 percent of the services of certain employees to Spriaso at a rate of $230/hour for a period of six months, however the agreement may be extended upon written agreement of Spriaso and the Company. Spriaso filed its first NDA and as an affiliated entity of the Company it used up the one-time waiver for user fees for a small business submitting its first human drug application to the FDA. Spriaso is considered a variable interest entity under FASB Accounting Standards Codification ("ASC") Topic 810-10, Consolidations, however the Company is not the primary beneficiary and has therefore not consolidated Spriaso.

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncements	12 Months Ended
	Dec. 31, 2014
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	-12	Recent Accounting Pronouncements
	In May 2014, the FASB issued Accounting Standards Update ("ASU") 2014-09, Revenue from the Contracts with Customers. Under the new standard, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In order to do so, an entity would follow the five-step process for in-scope transactions: 1) identify the contract with a customer, 2) identify the separate performance obligations in the contract, 3) determine the transaction price, 4) allocate the transaction price to the separate performance obligations in the contract, and 5) recognize revenue when (or as) the entity satisfies a performance obligation. For public entities, the provisions of the new standard are effective for annual reporting periods beginning after December 15, 2016 and early adoption is not permitted. An entity can apply the new revenue standard retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying the standard recognized at the date of initial application in retained earnings. The Company is in the process of determining our approach to the adoption of this new revenue recognition standard, as well as the anticipated impact to the Company’s financial position or results of operations.
	In August 2014, FASB issued ASU No. 2014-15, Presentation of Financial Statements – Going Concern. ASU 2014-15 provides guidance regarding management’s responsibility to evaluate whether there exists substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures in certain circumstances. The standard is effective for annual reporting periods beginning after December 15, 2016, and interim periods thereafter. The Company does not believe this pronouncement will have a material effect on the Company's financial position or results of operations.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Use of Estimates, Policy [Policy Text Block]	(a)	Use of Estimates
	The preparation of financial statements in conformity with U.S. generally accepted accounting principles 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 revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include those related to revenue recognition; stock-based compensation; valuation of deferred taxes; income tax uncertainties; and the useful lives of property and equipment.
Cash and Cash Equivalents, Policy [Policy Text Block]	(b)	Cash and Cash Equivalents
	The Company considers all highly liquid investments with original maturities to the Company of three months or less to be cash equivalents. Although the Company may deposit its cash and cash equivalents with multiple financial institutions, its deposits, at times, may exceed federally insured limits. Cash equivalents were zero and $1.9 million for December 31, 2014 and 2013.
Receivables, Policy [Policy Text Block]	(c)	Receivables
	Accounts receivable are recorded at the invoiced amount and do not bear interest.
	The Company maintains an allowance for doubtful accounts for estimated losses. In establishing the allowance, management considers historical losses adjusted to take into account current market conditions and their customers’ financial condition, the amount of receivables in dispute, and the current receivables aging and current payment patterns. The Company had no write-offs in 2014 and 2013 and the Company did not record an allowance for doubtful accounts as of December 31, 2014 and 2013 as there were no accounts receivable outstanding. The Company does not have any off-balance-sheet credit exposure related to its customers.
Revenue Recognition, Policy [Policy Text Block]	(d)	Revenue Recognition
	Revenue is recognized when there is persuasive evidence that an arrangement exists, delivery has occurred, the price is fixed or determinable, and collectability is reasonably assured. The Company recognizes up-front license fees as earned. Milestone payments are recognized upon successful completion of a performance milestone event. Contract revenues related to collaborative research and development agreements are recognized on a ratable basis as services are performed. Any amounts received in advance of performance are recorded as deferred revenue until earned.
	The Company enters into arrangements with collaboration partners that sometimes involve multiple deliverables. These arrangements may contain one or more of the following elements: license and other up-front fees, contract research and development services, milestone payments and royalties. Each deliverable in the arrangement is evaluated to determine whether it meets the criteria to be accounted for as a separate unit of accounting or whether it should be combined with other deliverables. When deliverables are separable, consideration is allocated to the separate units of accounting based upon the relative selling price method, and appropriate revenue recognition principles are applied to each unit. When the Company determines that the arrangement should be accounted for as a single unit of accounting, revenue is recognized over the period for which performance obligations will be performed.
	Up-front, nonrefundable fees and milestone payments received by the Company under license and collaboration arrangements that include future obligations, in whatever form, are recognized ratably over the expected performance period under each respective arrangement. Under these arrangements, the Company makes its best estimate of the period over which it expects to fulfill its performance obligations, which may include technology transfer assistance, research activities, clinical development activities, and manufacturing activities from development through the commercialization of the product. Given the uncertainties of these extended collaboration arrangements, significant judgment is required to determine the duration of the performance period. For license and collaboration arrangements where no future performance obligations exist, up-front, nonrefundable fees and milestone payments are recognized when received. Any amounts received in advance of performance are recorded as deferred revenue until recognized.
	The Company may provide research and development services under collaboration arrangements to advance the development of jointly owned products. The Company records the expenses incurred and reimbursed on a net basis.
Property, Plant and Equipment, Policy [Policy Text Block]	(e)	Property and Equipment
	Property and equipment are recorded at cost, less accumulated depreciation. Maintenance and repairs that do not extend the life or improve the asset are expensed in the year incurred.
	Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which are five years for laboratory and office equipment, three years for computer equipment and software, and seven years for furniture and fixtures.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	(f)	Accounting for Impairment of Long-Lived Assets
	Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets held and used is measured by a comparison of the carrying amount of an asset to future net cash flows (undiscounted) expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets held for sale are reported at the lower of the carrying amount, or fair value, less costs to sell.
Income Tax, Policy [Policy Text Block]	(g)	Income Taxes
	Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided against net deferred tax assets if, based upon the available evidence, it is more likely than not that some or all of the net deferred tax assets will not be realized.
	The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50 percent likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest and penalties related to unrecognized tax benefits as a component of its income tax expense.
Compensation Related Costs, Policy [Policy Text Block]		(h)	Share-Based Payments
	The Company recognizes stock-based compensation expense for grants of stock option awards, restricted stock units and restricted stock under the Company’s Incentive Plan to employees and nonemployee members of the Company’s board of directors based on the grant-date fair value of those awards. The grant-date fair value of an award is generally recognized as compensation expense over the award’s requisite service period. In addition, the Company has granted performance-based stock option awards and restricted stock grants, which vest based upon the Company satisfying certain performance conditions. Potential compensation cost, measured on the grant date, related to these performance options will be recognized only if, and when, the Company estimates that these options will vest, which is based on whether the Company considers the options’ performance conditions to be probable of attainment. The Company’s estimates of the number of performance-based options that will vest will be revised, if necessary, in subsequent periods. In addition, the Company grants stock options to nonemployee consultants from time to time in exchange for services performed for the Company. Equity instruments granted to nonemployees are subject to periodic revaluation over their vesting terms.
	During November 2014, the Company modified 149,498 existing time-vested options of two terminated executives by extending the exercise period to three years from the date of modification under the terms of the executive's respective employment and severance agreements. Compensation expense of $166,000 was recorded as a result of the modification. On January 6, 2014, we modified 366,126 existing time-vested and performance options as well as restricted stock awards of two retiring board of directors by fully vesting all unvested equity awards and extending the exercise period to three years from the date of modification. Compensation expense of $836,000 was recorded as a result of the modification. On January 31, 2013, the Company modified 907,336 existing time-vested and performance stock options by lowering the exercise price to $2.81. Additionally, the Company modified the vesting terms for its unvested performance stock options and unvested restricted stock to vest on the earlier of the first dosing in the pivotal clinical study for its lead drug candidate, or 50% on January 31, 2014 and 50% on January 31, 2015. Compensation expense of $422,000 was recorded as a result of the modifications. In August 2013, the Company determined that it was probable that the performance milestone related to these unvested stock options and restricted stock awards would occur. As a result, the remaining compensation expense between the date the milestone became probable and the expected milestone date of February 2014 was recognized ratably over that period.
	The Company uses the Black-Scholes model to compute the estimated fair value of stock option awards. Using this model, fair value is calculated based on assumptions with respect to (i) expected volatility of the Company’s Common Stock price, (ii) the periods of time over which employees and members of the board of directors are expected to hold their options prior to exercise (expected term), (iii) expected dividend yield on the Common Stock, and (iv) risk-free interest rates. Stock-based compensation expense also includes an estimate, which is made at the time of grant, of the number of awards that are expected to be forfeited. This estimate is revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Stock-based compensation cost that has been expensed in the statements of operations amounted to $1.9 million and $979,000 for the years ended December 31, 2014 and 2013, allocated as follows:
			Year Ended
			December 31,
			2014			2013
	Research and development		$	579,711		$	303,177
	General and administrative			1,313,124			675,974
			$	1,892,835		$	979,151
	In 2014, the Company issued 337,689 stock options. In 2013, the Company issued 354,027 stock options, 15,000 restricted stock units and 12,000 restricted stock awards.
	Key assumptions used in the determination of the fair value of stock options granted are as follows:
	Expected Term: The expected term represents the period that the stock-based awards are expected to be outstanding. Due to limited historical experience of similar awards, the expected term was estimated using the simplified method in accordance with the provisions of Staff Accounting Bulletin (“SAB”) No. 107, Share-Based Payment, for awards with stated or implied service periods. The simplified method defines the expected term as the average of the contractual term and the vesting period of the stock option. For awards with performance conditions, and that have the contractual term to satisfy the performance condition, the contractual term was used.
	Risk-Free Interest Rate: The risk-free interest rate used was based on the implied yield currently available on U.S. Treasury issues with an equivalent remaining term.
	Expected Dividend: The expected dividend assumption is based on management’s current expectation about the Company’s anticipated dividend policy. The Company does not anticipate declaring dividends in the foreseeable future.
	Expected Volatility: Since the Company did not have sufficient trading history, the volatility factor was based on the average of similar public companies through August 2014. When selecting similar companies, the Company considered the industry, stage of life cycle, size, and financial leverage. Beginning in August 2014, the volatility factor was based on a combination of the Company’s  trading history since March 2014 and the average of similar public companies.
	For options granted in 2014 and 2013, the Company calculated the fair value of each option grant on the respective dates of grant using the following weighted average assumptions:
			2014		2013
	Expected term		5.87 years		5.88 years
	Risk-free interest rate		1.75	%	1.38	%
	Expected dividend yield		—		—
	Expected volatility		76.3	%	68.27	%
	Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 718, Stock Compensation requires the Company to recognize compensation expense for the portion of options that are expected to vest. Therefore, the Company applied estimated forfeiture rates that were derived from historical employee termination behavior. If the actual number of forfeitures differs from those estimated by management, additional adjustments to compensation expense may be required in future periods.
	As of December 31, 2014, there was $1.6 million of total unrecognized compensation cost related to unvested share-based compensation arrangements granted under the Company’s stock option plan. That cost is expected to be recognized over a weighted average period of 2.44 years and will be adjusted for subsequent changes in estimated forfeitures. The weighted average fair value of share-based compensation awards granted during the year ended December 31, 2014 was approximately $5.45.
Fair Value Measurement, Policy [Policy Text Block]		(i)	Fair Value
	The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels:
		•	Level 1 Inputs: Quoted prices for identical instruments in active markets.
		•	Level 2 Inputs: Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuation in which all significant inputs and significant value drivers are observable in active markets.
		•	Level 3 Inputs: Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.
	For prepaid and other current assets, related-party receivable, accounts payable, and accrued expenses, the carrying amounts approximate fair value because of the short maturity of these instruments.
	At December 31, 2014, the Company did not have any assets and liabilities that were measured at fair value on a recurring basis using quoted prices in active markets for identical instruments (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). The following table presents the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a recurring basis at December 31, 2013:
			December 31,			Fair value measurements at reporting date using
			2013			Level 1 inputs		Level 2 inputs		Level 3 inputs
	Assets:
	Cash equivalents-money market funds		$	1,933,480		$	1,933,480	$	-	$	-
			$	1,933,480		$	1,933,480	$	-	$	-
	The following methods and assumptions were used to determine the fair value of each class of assets and liabilities recorded at fair value in the balance sheets:
	Cash equivalents: Cash equivalents primarily consist of highly rated money market funds with original maturities to the Company of three months or less, and are purchased daily at par value with specified yield rates. Due to the high ratings and short-term nature of the funds, the Company considers all cash equivalents as Level 1.
	The Company’s accounting policy is to recognize transfers between levels of the fair value hierarchy on the date of the event or change in circumstances that caused the transfer. There were no transfers into or out of Level 1 for the years ended December 31, 2014 or 2013.
Earnings Per Share, Policy [Policy Text Block]	(j)	Earnings (Loss) per Share
	Basic earnings (loss) per share is calculated by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the period. Net income (loss) available to common shareholders for the year ended December 31, 2014 and 2013 was calculated using the two-class method, which is an earnings (loss) allocation method for computing earnings (loss) per share when an entity’s capital structure includes common stock and participating securities. The two-class method determines earnings (losses) per share based on dividends declared on common stock and participating securities (i.e., distributed earnings) and participation rights of participating securities in any undistributed earnings (loss). The application of the two-class method was required since the Company’s unvested restricted stock contains non-forfeitable rights to dividends or dividend equivalents. However, unvested restricted stock grants are not included in computing basic earnings (loss) per share for periods where the Company has losses as these securities are not contractually obligated to share in losses of the Company.
	Diluted earnings (loss) per share is based on the weighted average number of common shares outstanding plus, where applicable, the additional potential common shares that would have been outstanding related to dilutive options, warrants, and unvested restricted stock to the extent such shares are dilutive.
	The following table sets forth the computation of basic and diluted earnings (loss) per share of common stock for the years ended December 31, 2014 and 2013..
			Year Ended December 31,
			2014			2013
	Basic loss per share attributable to common stock:
	Numerator
	Net loss		$	-20,372,676		$	-10,590,106
	Denominator
	Weighted avg. common shares outstanding			12,766,295			7,363,076
	Basic loss per share attributable to common stock		$	-1.6		$	-1.44
	Diluted loss per share attributable to common stock:
	Numerator
	Net loss		$	-20,372,676		$	-10,590,106
	Denominator
	Weighted avg. common shares outstanding			12,766,295			7,363,076
	Diluted loss per share attributable to common stock		$	-1.6		$	-1.44
	The computation of diluted earnings per share for the years ended December 31, 2014 and 2013 does not include the following unvested restricted stock awards, restricted stock units, stock options and warrants to purchase shares in the computation of diluted earnings per share because these instruments were antidilutive:
			December 31,
			2014		2013
	Stock options		1,528,737		1,264,345
	Unvested restricted stock		7,000		103,784
	Unvested restricted stock units		-		15,000
	Warrants		20,467		20,467
Segment Reporting, Policy [Policy Text Block]	(k)	Segment Information
	The Company is a single reportable segment engaged in research and development for the delivery of drugs using its proprietary delivery technology. Operating segments are identified as components of an enterprise for which separate discrete financial information is available for evaluation by the chief operating decision maker in making decisions regarding resource allocation and assessing performance. The chief operating decision maker made such decisions and assessed performance at the company level, as one segment.
Consolidation, Policy [Policy Text Block]		(L)	Principles of Consolidation
			The consolidated financial statements include the accounts of the Company and all subsidiaries. The Company eliminates all intercompany accounts and transactions in consolidation.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Stock-based compensation cost that has been expensed in the statements of operations amounted to $1.9 million and $979,000 for the years ended December 31, 2014 and 2013, allocated as follows:
		Year Ended
		December 31,
		2014			2013
	Research and development	$	579,711		$	303,177
	General and administrative		1,313,124			675,974
		$	1,892,835		$	979,151
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	For options granted in 2014 and 2013, the Company calculated the fair value of each option grant on the respective dates of grant using the following weighted average assumptions:
		2014		2013
	Expected term	5.87 years		5.88 years
	Risk-free interest rate	1.75	%	1.38	%
	Expected dividend yield	—		—
	Expected volatility	76.3	%	68.27	%
Fair Value Measurements, Nonrecurring [Table Text Block]	The following table presents the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a recurring basis at December 31, 2013:
		December 31,			Fair value measurements at reporting date using
		2013			Level 1 inputs		Level 2 inputs		Level 3 inputs
	Assets:
	Cash equivalents-money market funds	$	1,933,480		$	1,933,480	$	-	$	-
		$	1,933,480		$	1,933,480	$	-	$	-
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following table sets forth the computation of basic and diluted earnings (loss) per share of common stock for the years ended December 31, 2014 and 2013..
		Year Ended December 31,
		2014			2013
	Basic loss per share attributable to common stock:
	Numerator
	Net loss	$	-20,372,676		$	-10,590,106
	Denominator
	Weighted avg. common shares outstanding		12,766,295			7,363,076
	Basic loss per share attributable to common stock	$	-1.6		$	-1.44
	Diluted loss per share attributable to common stock:
	Numerator
	Net loss	$	-20,372,676		$	-10,590,106
	Denominator
	Weighted avg. common shares outstanding		12,766,295			7,363,076
	Diluted loss per share attributable to common stock	$	-1.6		$	-1.44
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	The computation of diluted earnings per share for the years ended December 31, 2014 and 2013 does not include the following unvested restricted stock awards, restricted stock units, stock options and warrants to purchase shares in the computation of diluted earnings per share because these instruments were antidilutive:
		December 31,
		2014		2013
	Stock options	1,528,737		1,264,345
	Unvested restricted stock	7,000		103,784
	Unvested restricted stock units	-		15,000
	Warrants	20,467		20,467

Property_and_Equipment_Tables

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	Property and equipment consisted of the following:
		December 31,		December 31,
		2014		2013
	Lab and office equipment	$	41,792	$	36,755
	Computer equipment and software		1,014,615		960,044
	Furniture and fixtures		51,404		51,404
			1,107,811		1,048,203
	Less accumulated depreciation		-1,034,029		-1,019,409
		$	73,782	$	28,794

Income_Taxes_Tables

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Income tax expense consists of:
		Current		Deferred		Total
	Year ended December 31, 2014:
	State and local	$	200	$	-	$	200
		$	200	$	-	$	200
	Year ended December 31, 2013:
	U.S. federal	$	-55,148	$	-	$	-55,148
	State and local		100		-		100
		$	-55,048	$	-	$	-55,048
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]		Income tax expense (benefit) was $200 and ($55,000) for the years ended December 31, 2014 and 2013 and differed from the amounts computed by applying the U.S. federal income tax rate of 34% to pretax income from continuing operations as a result of the following:
		December 31,
		2014		2013
	Computed "expected" tax benefit	$	-6,926,642	$	-3,619,353
	Increase (reduction) in income taxes resulting from:
	Change in valuation allowance		7,748,579		-493,355
	Loss of tax attributes due to change in ownership		-127,572		3,540,653
	Transaction fees		-		394,803
	Settlement for termination of stock rights		-		310,572
	State and local income taxes, net of federal income tax benefit		132		66
	Stock expense		45,097		85,270
	Research and development tax credits		-743,186		-227,189
	Other, net		3,792		-46,515
		$	200	$	-55,048
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2014 and 2013 are presented below.
		December 31,
		2014		2013
	Deferred tax assets:
	Stock-based compensation	$	1,851,668	$	1,152,904
	Net operating loss carryforwards		17,479,654		10,041,416
	Employee benefits		41,568		59,505
	Research and development tax credits		1,419,165		410,490
	Other deductible tempory differences		97,656		-
	Total gross deferred tax assets		20,889,711		11,664,315
	Less valuation allowance		-20,886,811		-11,660,247
	Net deferred tax assets		2,900		4,068
	Deferred tax liabilities:
	Plant and equipment		-2,900		-4,068
	Total gross deferred tax liabilities		-2,900		-4,068
	Net deferred tax liabilities	$	-	$	-
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]	A reconciliation of the beginning and ending amount of total unrecognized tax contingencies, excluding interest and penalties, for the years ended December 31, 2014 and 2013 are as follows:
		December 31
		2014		2013
	Balance, beginning of year	$	-	$	28,304
	Balance, end of year	$	-	$	-

Leases_Tables

Leases (Tables)	12 Months Ended
	Dec. 31, 2014
Leases [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Future minimum lease payments under the noncancelable operating lease as of December 31, 2014 are:
		Operating
		leases
	Year ending December 31:
	2015		285,756
	2016		294,373
	2017		303,119
	2018		51,903
	Total minimum lease payments	$	935,151

Stockholders_Equity_Tables

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2014

Stockholders Equity Note [Abstract]

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

A summary of stock option activity is as follows:

Outstanding stock options

Weighted

Number of

average exercise

shares

price

Balance at December 31, 2013

1,264,345

$

3.25

Options granted

337,689

8.24

Options exercised

-20,205

2.81

Options forfeited

-51,980

7.72

Options cancelled

-1,112

12.84

Balance at December 31, 2014

1,528,737

4.2

Options exercisable at December 31, 2014

1,143,920

3.14

Schedule of Share-based Compensation, Activity [Table Text Block]

The following table summarizes information about stock options outstanding and exercisable at December 31, 2014:

Options outstanding

Options exercisable

Weighted

Weighted

average

average

remaining

Weighted

remaining

Weighted

contractual

average

contractual

average

Number

life

exercise

Aggregate intrinsic

Number

life

exercise

Aggregate

outstanding

(Years)

price

value

exerciseable

(Years)

price

intrinsic value

1,528,737

7.17

$

4.2

$

2,732,092

1,143,920

6.45

$

3.14

$

2,607,844

Restricted Stock [Member]

Stockholders Equity Note [Abstract]

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]

A summary of restricted common stock activity is as follows:

Number of unvested

restricted shares

Balance at December 31, 2013

103,784

Granted

-

Vested

-96,784

Cancelled

-

Balance at December 31, 2014

7,000

Restricted Stock Units (RSUs) [Member]

Stockholders Equity Note [Abstract]

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]

A summary of restricted stock unit activity is as follows:

Restricted

Stock Units

Balance at December 31, 2013

15,000

Granted

-

Vested

-15,000

Cancelled

-

Balance at December 31, 2014

-

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Allocated Share-based Compensation Expense	$1,892,835	$979,151
Research and Development Expense [Member]
Allocated Share-based Compensation Expense	579,711	303,177
General and Administrative Expense [Member]
Allocated Share-based Compensation Expense	$1,313,124	$675,974

Summary_of_Significant_Account4

Summary of Significant Accounting Policies (Details 1)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Expected term	5 years 10 months 13 days	5 years 10 months 17 days
Risk-free interest rate	1.75%	1.38%
Expected dividend yield	0.00%	0.00%
Expected volatility	76.30%	68.27%

Summary_of_Significant_Account5

Summary of Significant Accounting Policies (Details 2) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Assets:
Cash equivalents-money market funds	$0	$1,933,480
Money Market Funds [Member]
Assets:
Cash equivalents-money market funds		1,933,480
Fair Value, Inputs, Level 1 [Member]
Assets:
Cash equivalents-money market funds		1,933,480
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member]
Assets:
Cash equivalents-money market funds		1,933,480
Fair Value, Inputs, Level 2 [Member]
Assets:
Cash equivalents-money market funds		0
Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member]
Assets:
Cash equivalents-money market funds		0
Fair Value, Inputs, Level 3 [Member]
Assets:
Cash equivalents-money market funds		0
Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member]
Assets:
Cash equivalents-money market funds		$0

Summary_of_Significant_Account6

Summary of Significant Accounting Policies (Details 3) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Basic loss per share attributable to common stock: Numerator
Net loss	($20,372,676)	($10,590,106)
Denominator
Weighted avg. common shares outstanding	12,766,295	7,363,076
Basic loss per share attributable to common stock	($1.60)	($1.44)
Diluted loss per share attributable to common stock:
Net loss	($20,372,676)	($10,590,106)
Denominator
Weighted avg. common shares outstanding	12,766,295	7,363,076
Diluted loss per share attributable to common stock	($1.60)	($1.44)

Summary_of_Significant_Account7

Summary of Significant Accounting Policies (Details 4)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Unvested Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	7,000	103,784
Unvested Resticted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	15,000
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	20,467	20,467
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,528,737	1,264,345

Summary_of_Significant_Account8

Summary of Significant Accounting Policies (Details Textual) (USD $)	0 Months Ended	12 Months Ended
	Jan. 06, 2014	Dec. 31, 2014	Dec. 31, 2013
Allocated Share-based Compensation Expense		$1,892,835	$979,151
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		337,689	354,027
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized		1,600,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition		2 years 5 months 8 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value		$5.45
Cash and Cash Equivalents, Fair Value Disclosure		0	1,933,480
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares	366,126	149,498
Allocated Share-based Compensation Expense	$836,000	$166,000	$422,000
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award			the Company modified 907,336 existing time-vested and performance stock options by lowering the exercise price to $2.81. Additionally, the Company modified the vesting terms for its unvested performance stock options and unvested restricted stock to vest on the earlier of the first dosing in the pivotal clinical study for its lead drug candidate, or 50% on January 31, 2014 and 50% on January 31, 2015.
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			12,000
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		0	15,000

Collaborative_Agreements_Detai

Collaborative Agreements (Details Textual) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Research and Development Expense, Total	$15,479,446	$5,122,864
Other Companies [Member] | Collaborative Arrangement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Research and Development Expense, Total	12,900,000	3,400,000
Abbott Products, Inc. [Member] | Collaborative Arrangement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaborative Arrangement, Termination Date			29-Mar-12
Collaborative Arrangement, Rights and Obligations			All obligations under the prior license agreement have been completed except that Lipocine will owe Abbott a perpetual 1.5% royalty on net sales should Lipocine decide to use certain Solvay/Abbott formulations or a perpetual 1% royalty on net sales should Lipocine use data generated during the term of the Solvay/Abbott agreement in any regulatory filings for a product.
Collaborative Arrangement, Royalties, Maximum Amount			1,000,000
Collaborative Arrangement, Royalties, Percentage of Reduction			50.00%
Collaborative Product Development Agreement With Nexgen Pharma, Inc. [Member] | Research and Development Expense [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Reimbursement Revenue		$468,000

Property_and_Equipment_Details

Property and Equipment (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Lab and office equipment	$41,792	$36,755
Computer equipment and software	1,014,615	960,044
Furniture and fixtures	51,404	51,404
Property, Plant and Equipment, Gross	1,107,811	1,048,203
Less accumulated depreciation	-1,034,029	-1,019,409
Property, Plant and Equipment, Net	$73,782	$28,794

Property_and_Equipment_Details1

Property and Equipment (Details Textual) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Depreciation, Depletion and Amortization, Nonproduction, Total	$14,620	$21,767

Income_Taxes_Details

Income Taxes (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Income Taxes [Line Items]
Income Tax Expenses Benefit Current, U.S. federal		($55,148)
Income Tax Expenses Benefit Current, State and local	200	100
Current Income Tax Expense (Benefit), Total	200	-55,048
Income Tax Expenses Benefit Deferred, U.S. federal		0
Income Tax Expenses Benefit Deferred, State and local	0	0
Deferred Income Tax Expense (Benefit), Total	0	0
Income Tax Expense (Benefit), U.S. federal		-55,148
Income Tax Expense (Benefit), State and local	200	100
Income Tax Expense (Benefit)	$200	($55,048)

Income_Taxes_Details_1

Income Taxes (Details 1) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Income Taxes [Line Items]
Computed "expected" tax benefit	($6,926,642)	($3,619,353)
Increase (reduction) in income taxes resulting from:
Change in valuation allowance	7,748,579	-493,355
Loss of tax attributes due to change in ownership	-127,572	3,540,653
Transaction fees	0	394,803
Settlement for termination of stock rights	0	310,572
State and local income taxes, net of federal income tax benefit	132	66
Stock expense	45,097	85,270
Research and development tax credits	-743,186	-227,189
Other, net	3,792	-46,515
Income Tax Expense (Benefit)	$200	($55,048)

Income_Taxes_Details_2

Income Taxes (Details 2) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Deferred tax assets:
Stock-based compensation	$1,851,668	$1,152,904
Net operating loss carryforwards	17,479,654	10,041,416
Employee benefits	41,568	59,505
Research and development tax credits	1,419,165	410,490
Other deductible tempory differences	97,656	0
Total gross deferred tax assets	20,889,711	11,664,315
Less valuation allowance	-20,886,811	-11,660,247
Net deferred tax assets	2,900	4,068
Deferred tax liabilities:
Plant and equipment	-2,900	-4,068
Total gross deferred tax liabilities	-2,900	-4,068
Net deferred tax liabilities	$0	$0

Income_Taxes_Details_3

Income Taxes (Details 3) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Taxes [Line Items]
Balance, beginning of year	$0	$0	$28,304
Balance, end of year	$0	$0	$28,304

Income_Taxes_Details_Textual

Income Taxes (Details Textual) (USD $)	12 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2014
Income Taxes [Line Items]
Income Tax Expense (Benefit)	$200	($55,048)
Operating Loss Carryforwards	44,100,000
Tax Credit Carryforward, Amount	911,000
Deferred Tax Assets, Valuation Allowance	20,886,811	11,660,247
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	9,200,000	41,000
Operating Loss Carry forwards Limitations On Use Amount	1,100,000
Operating Loss Carry forwards Preownership Change Amount	20,200,000
Operating Loss Forgive Pre ownership Change Amount	5,500,000
Tax Credit Carryforward Preownership Change Amount	1,200,000
U.S. Federal [Member]
Income Taxes [Line Items]
Operating Loss Carry forwards Expiration Date1	Approximately $10.2 million of the NOLs will begin to expire in 2023 with the balance expiring from 2024 through 2034
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	34.00%
U.S. Federal [Member] | Research and Development Expense [Member]
Income Taxes [Line Items]
Tax Credit Carryforward, Description	expire in 2034
State And Local [Member]
Income Taxes [Line Items]
Operating Loss Carryforwards	50,000,000
Operating Loss Carry forwards Expiration Date1	Approximately $12.4 million of the Company's state NOLs expire in 2018 with the remaining balance expiring from 2019 through 2029.
State And Local [Member] | Research and Development Expense [Member]
Income Taxes [Line Items]
Tax Credit Carryforward, Amount	$508,000
Tax Credit Carryforward, Description			expire in 2023 through 2028.

Leases_Details

Leases (Details) (USD $)	Dec. 31, 2014
In Thousands, unless otherwise specified
Year ending December 31:
2015	$285,756
2016	294,373
2017	303,119
2018	51,903
Total minimum lease payments	$935,151

Leases_Details_Textual

Leases (Details Textual) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Operating Leased Assets [Line Items]
Operating Leases, Rent Expense	$327,000	$356,000

Stockholders_Equity_Details

Stockholders' Equity (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Balance at beginning of the period (in shares)	1,264,345
Number of Shares, Options granted (in shares)	337,689	354,027
Number of Shares, Options exercised (in shares)	-20,205	-3,761
Number of Shares, Options forfeited (in shares)	-51,980
Number of Shares, Options cancelled (in shares)	-1,112
Number of Shares, Balance at end of the period (in shares)	1,528,737	1,264,345
Number of Shares, Options exercisable (in shares)	1,143,920
Weighted average exercise price, Balance at beginning of the period (in dollars per share)	$3.25
Weighted average exercise price, Options granted (in dollars per share)	$8.24
Weighted average exercise price, Options exercised (in dollars per share)	$2.81
Weighted average exercise price, Options forfeited (in dollars per share)	$7.72
Weighted average exercise price, Options cancelled (in dollars per share)	$12.84
Weighted average exercise price, Balance at end of the period (in dollars per share)	$4.20	$3.25
Weighted average exercise price, Options exercisable (in dollars per share)	$3.14

Stockholders_Equity_Details_1

Stockholders' Equity (Details 1) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options outstanding	1,528,737	1,264,345
Options outstanding, Weighted average remaining contractual life (Years)	7 years 2 months 1 day
Options outstanding, Weighted average exercise price (in dollars per share)	$4.20	$3.25
Options outstanding, Aggregate intrinsic value	$2,732,092
Number of options exerciseable	1,143,920
Options exercisable, Weighted average remaining contractual life (Years)	6 years 5 months 12 days
Options exercisable, Weighted average exercise price (in dollars per share)	$3.14
Options exercisable, Aggregate intrinsic value	$2,607,844

Stockholders_Equity_Details_2

Stockholders' Equity (Details 2)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2010	Dec. 31, 2013
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, Balance at beginning of the period	103,784
Number of shares, Granted	0	112,720
Number of shares, Vested	-96,784
Number of shares, Cancelled	0
Number of shares, Balance at end of the period	7,000
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, Balance at beginning of the period	15,000
Number of shares, Granted	0		15,000
Number of shares, Vested	-15,000
Number of shares, Cancelled	0
Number of shares, Balance at end of the period	0		15,000

Stockholders_Equity_Details_Te

Stockholders' Equity (Details Textual) (USD $)	12 Months Ended		1 Months Ended		12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 23, 2003	Jun. 28, 2013	Dec. 31, 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation, Total	$1,892,835	$979,151
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	20,205	3,761
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	87,000	12,000
Stock Issued During Period Value Issued In Settlement For Termination Of Certain Rights In Stock Purchase Agreement		913,446
Proceeds from Issuance of Common Stock	0	48,518,771
Payments of Stock Issuance Costs	271,183	0
Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		12,000
Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Treasury Stock, Shares, Acquired	-5,710
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	20,205	3,761
Stock Issued During Period, Shares, New Issues		1,715,800
Stock Issued During Period Shares Issued In Settlement For Termination Of Certain Rights In Stock Purchase Agreement		152,241
Stock Issued During Period Value Issued In Settlement For Termination Of Certain Rights In Stock Purchase Agreement		15
Accredited Investors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, New Issues		6,336,664
Proceeds from Issuance of Common Stock		35,700,000
Payments of Stock Issuance Costs		2,300,000
Underwritten Offering [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, New Issues		1,715,800
Proceeds from Issuance of Common Stock		12,500,000
Payments of Stock Issuance Costs		1,600,000
Warrant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value			$12.21
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			20,467
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date			31-Dec-15
2014 Equity Incentive Plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	1,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	1,020,076
Common Stock, Capital Shares Reserved for Future Issuance	1,271,906
2011 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	271,906
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	0	15,000
Stock Issued During Period, Shares, New Issues		15,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights					Ten percent of the issued restricted common stock vested on December 31, 2011. The remaining ninety percent of the restricted shares were modified on January 31, 2013 to vest on the earlier of the first dosing in the pivotal clinical study for its lead drug candidate, or 50% on January 31, 2014 and 50% on January 31, 2015.
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$5.75
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	0				112,720
Treasury Stock, Shares, Acquired				8,626
Treasury Stock Acquired, Average Cost Per Share				$6.16
Share-based Compensation, Total				$16,000
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures				7,763

401k_Plan_Details_Textual

401(k) Plan (Details Textual) (USD $)	12 Months Ended
	Dec. 31, 2014
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Contribution Plan, Cost Recognized	$48,000
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	100.00%
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	4.00%

Agreement_with_Spriaso_LLC_Det

Agreement with Spriaso, LLC (Details Textual) (USD $)	1 Months Ended
	Jul. 23, 2013
Related Party Transaction [Line Items]
Percentage Of Fee To Be Received	20.00%
Maximum Proceeds From Affiliates Under License Agreement	$10,000,000
Description Of Terms Of Service Agreement	Under the service agreement, the Company will provide facilities and up to 10 percent of the services of certain employees to Spriaso for a period of 18 months
Service Fee	$230