LadRx (LADX) 10-K 15 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Mar. 15, 2017	Jun. 30, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	CYTRX CORP
Entity Central Index Key	799,698
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 136
Entity Common Stock, Shares Outstanding		117,322,895
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 56,959,485	$ 22,261,372
Short-term investments	0	35,035,420
Receivables	183,703	4,593,475
Interest receivable	0	28,130
Prepaid expenses and other current assets	3,434,238	2,373,708
Total current assets	60,577,426	64,292,105
Equipment and furnishings, net	1,959,667	1,467,681
Goodwill	183,780	183,780
Other assets	48,911	1,080,872
Total assets	62,769,784	67,024,438
Current liabilities:
Accounts payable	6,406,445	8,058,624
Accrued expenses and other current liabilities	3,830,498	9,693,359
Non-cash litigation settlement due in shares of common stock	0	4,500,000
Term loan, net - current	5,481,656	0
Warrant liabilities	3,789,391	693,457
Total current liabilities	19,507,990	22,945,440
Long term loan, net	18,484,510	0
Total liabilities	37,992,500	22,945,440
Commitment and contingencies
Stockholders' equity:
Common stock, $.001 par value, 250,000,000 shares authorized; 111,322,895 and 66,480,065 shares issued and outstanding at December 31, 2016 and 2015, respectively	111,321	66,480
Additional paid-in capital	437,423,958	409,107,292
Accumulated deficit	(415,865,995)	(365,094,774)
Total stockholders' equity	24,777,284	44,078,998
Total liabilities and stockholders' equity	62,769,784	67,024,438
Series A Junior Participating Preferred Stock [Member]
Stockholders' equity:
Preferred Stock	0	0
Series B Convertible Preferred Shares [Member]
Stockholders' equity:
Preferred Stock	$ 3,108,000	$ 0

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Stockholders' equity:
Preferred Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred Stock, shares issued (in shares)	0	0
Preferred Stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	111,322,895	66,480,065
Common stock, shares outstanding (in shares)	111,322,895	66,480,065
Series A Junior Participating Preferred Stock [Member]
Stockholders' equity:
Preferred Stock, shares authorized (in shares)	25,000	25,000
Series B Convertible Preferred Shares [Member]
Stockholders' equity:
Preferred Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, stated value	$ 1,000	$ 1,000
Preferred Stock, shares authorized (in shares)	3,900	3,900
Preferred Stock, conversion value (in dollars per share)	$ 0.42	$ 0.42
Preferred Stock, shares issued (in shares)	3,300	0
Preferred Stock, shares outstanding (in shares)	3,108	0

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenue:
Licensing revenue	$ 200,000	$ 100,000	$ 100,000
Expenses:
Research and development	35,930,212	43,395,574	36,677,706
General and administrative	15,990,789	19,664,904	12,845,231
Depreciation and amortization	536,631	317,649	182,927
Total expenses	52,457,632	63,378,127	49,705,864
Loss before other income (expense)	(52,257,632)	(63,278,127)	(49,605,864)
Other income (expense):
Interest income	255,123	233,958	305,331
Interest expense	(2,754,677)	0	0
Other income, net	159,148	20,151	132,114
Gain on warrant liabilities	3,827,617	4,437,628	19,051,239
Loss before provision for income taxes	(50,770,421)	(58,586,390)	(30,117,180)
Provision for income taxes	(800)	(800)	(800)
Net loss	$ (50,771,221)	$ (58,587,190)	$ (30,117,980)
Basic and diluted net loss per share (in dollars per share)	$ (0.63)	$ (0.97)	$ (0.55)
Basic and diluted weighted-average shares outstanding (in shares)	81,063,772	60,483,151	54,371,151

STATEMENTS OF STOCKHOLDERS' EQU

STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Preferred Stock [Member]Series B Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Treasury Stock [Member]	Total
Balance at Dec. 31, 2013	$ 0	$ 42,118	$ 289,426,100	$ (276,389,604)	$ (2,417,247)	$ 10,661,367
Balance (in shares) at Dec. 31, 2013	0	42,116,964
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock options/warrants for compensation and services	$ 0	$ 0	5,139,348	0	0	5,139,348
Issuance of stock options/warrants for compensation and services (in shares)	0	0
Common stock issued in connection with a public offering	$ 0	$ 13,225	80,522,176	0	0	80,535,401
Common stock issued in connection with a public offering (in shares)	0	13,225,000
Issuance of restricted stock for compensation	$ 0	$ 100	626,900	0	0	627,000
Issuance of restricted stock for compensation (in shares)	0	100,000
Issuance of common stock for compensation	$ 0	$ 200	829,800	0	0	830,000
Issuance of common stock for compensation (in shares)	0	200,000
Options and warrants exercised	$ 0	$ 281	431,660	0	0	431,941
Options and warrants exercised (in shares)	0	280,022
Repurchase of common stock for treasury	$ 0	$ 0	0	0	(195,614)	(195,614)
Net loss	0	0	0	(30,117,980)	0	(30,117,980)
Balance at Dec. 31, 2014	$ 0	$ 55,924	376,975,984	(306,507,584)	(2,612,861)	67,911,463
Balance (in shares) at Dec. 31, 2014	0	55,921,986
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock options/warrants for compensation and services	$ 0	$ 0	7,384,656	0	0	7,384,656
Issuance of stock options/warrants for compensation and services (in shares)	0	0
Common stock issued in connection with a public offering	$ 0	$ 10,465	26,769,603	0	0	26,780,068
Common stock issued in connection with a public offering (in shares)	0	10,465,000
Options and warrants exercised	$ 0	$ 290	589,711	0	0	590,001
Options and warrants exercised (in shares)	0	292,354
Retirement of treasury stock	$ 0	$ (199)	(2,612,662)	0	2,612,861	0
Retirement of treasury stock (in shares)	0	(199,275)
Net loss	$ 0	$ 0	0	(58,587,190)	0	(58,587,190)
Balance at Dec. 31, 2015	$ 0	$ 66,480	409,107,292	(365,094,774)	0	$ 44,078,998
Balance (in shares) at Dec. 31, 2015	0	66,480,065				66,480,065
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock options/warrants for compensation and services	$ 0	$ 0	6,735,576	0	0	$ 6,735,576
Issuance of stock options/warrants for compensation and services (in shares)	0	0
Warrants issued in connection with a public offering	$ 0	$ 0	(6,923,551)	0	0	(6,923,551)
Common stock issued in connection with a public offering	$ 3,300,000	$ 40,112	22,437,145	0	0	25,777,257
Common stock issued in connection with a public offering (in shares)	3,300	40,112,170
Preferred stock conversion	$ (192,000)	$ 457	191,543	0	0	0
Preferred stock conversion (in shares)	(192)	457,143
Issuance of restricted stock grant	$ 0	$ 2,325	0	0	0	2,325
Issuance of restricted stock grant (in shares)	0	2,325,581
Warrants issued in connection with term loan	$ 0	$ 0	633,749	0	0	633,749
Beneficial conversion feature - Series B preferred stock	(314,286)	0	314,286	0	0	0
Series B preferred stock deemed dividend	314,286	0	(314,286)	0	0	0
Options and warrants exercised	0	$ 386	743,765	0	0	$ 744,151
Options and warrants exercised (in shares)		386,358				(56,358)
Class action settlement share issuance	0	$ 1,561	4,498,439	0	0	$ 4,500,000
Class action settlement share issuance (in shares)		1,561,578
Net loss	0	$ 0	0	(50,771,221)	0	(50,771,221)
Balance at Dec. 31, 2016	$ 3,108,000	$ 111,321	$ 437,423,958	$ 415,865,995	$ 0	$ 24,777,284
Balance (in shares) at Dec. 31, 2016	3,108	111,322,895				111,322,895

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net loss	$ (50,771,221)	$ (58,587,190)	$ (30,117,980)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	536,631	317,649	182,927
Loss on retirement of equipment and furnishings	12,276	2,614	1,220
Gain on warrant liabilities	(3,827,617)	(4,437,628)	(19,051,239)
Amortization of loan cost and discount	587,837	0	0
Unrealized foreign exchange gain	0	0	(125,659)
Stock-based compensation expense	6,735,576	7,384,656	6,596,248
Non-cash litigation settlement due in common stock	0	4,500,000	0
Changes in assets and liabilities:
Receivable	4,412,097	(2,574,182)	(1,901,766)
Interest receivable	28,130	76,497	(96,163)
Prepaid expenses and other assets	(28,569)	1,118,931	(2,126,771)
Accounts payable	(1,672,631)	916,919	2,779,409
Accrued expenses and other current liabilities	(5,862,861)	3,699,287	3,303,967
Net cash used in operating activities	(49,850,352)	(47,582,447)	(40,555,807)
Cash flows from investing activities:
Proceeds from matured short-term investments	35,035,420	76,544,319	38,584,980
Purchase of short-term investments	0	(65,958,146)	(57,121,593)
Purchases of equipment and furnishings	(1,020,441)	(331,328)	(956,286)
Net cash provided by (used in) investing activities	34,014,979	10,254,845	(19,492,899)
Cash flows from financing activities:
Proceeds from common stock issued in public offering, net of fees	25,777,257	26,780,068	80,535,401
Proceeds from term loan, net	24,012,078	0	0
Proceeds from issuance of restricted stock to employee	0	0	100
Repurchase of Company's own stock for treasury	0	0	(182,943)
Net proceeds from exercise of stock options and warrants	744,151	590,001	431,941
Net cash provided by financing activities	50,533,486	27,370,069	80,784,499
Net increase (decrease) in cash and cash equivalents	34,698,113	(9,957,533)	20,735,793
Cash and cash equivalents at beginning of year	22,261,372	32,218,905	11,483,112
Cash and cash equivalents at end of year	56,959,485	22,261,372	32,218,905
Supplemental disclosures of non-cash financing/investing activities:
Cashless warrant exercises	0	3	133
Repurchase of Company's own stock for treasury	0	0	12,671
Receivable from issuance of restricted stock	2,325	0	0
Equipment and furnishings purchased but not paid	20,452	485,743	232,825
Retirement of treasury stock	0	2,612,861	0
Warrants issued in connection with the term loan	633,749	0	0
Shares issued in connection with the class action settlement	4,500,000	0	0
Series B Preferred stock beneficial conversion feature and deemed dividend	314,286	0	0
Warrants issued/amended in connection with the public offering	6,923,551	0	0
Series B Preferred stock conversion	457	0	0
Supplemental disclosure of Cash Flow Information:
Cash paid during the year for income taxes	800	800	800
Cash paid during the year for interest	$ 1,959,375	$ 0	$ 0

Nature of Business

Nature of Business	12 Months Ended
	Dec. 31, 2016
Nature of Business [Abstract]
Nature of Business	1. Nature of Business CytRx Corporation ("CytRx" or the "Company") is a biopharmaceutical research and development company specializing in oncology. It currently is focused on the clinical development of aldoxorubicin (formerly known as INNO-206), its modified version of the widely-used chemotherapeutic agent, doxorubicin. Aldoxorubicin combines the chemotherapeutic agent doxorubicin with a novel linker-molecule that binds specifically to albumin in the blood to allow for delivery of higher amounts of doxorubicin (3½ to 4 times) without several of the major dose-limiting toxicities seen with administration of doxorubicin alone. Aldoxorubicin has received Orphan Drug Designation (ODD) by the U.S. Food and Drug Administration ("FDA") for the treatment of soft tissue sarcomas (STS). ODD provides several benefits including seven years of market exclusivity after approval, certain research and development related tax credits, and protocol assistance by the FDA. European regulators granted aldoxorubicin Orphan designation for STS which confers ten years of market exclusivity among other benefits. CytRx is also developing new anti-cancer drug conjugates that utilizes its Linker Activated Drug Release (LADR TM CytRx previously announced the initial analysis of top-line data from its on-going global, randomized Phase 3 clinical trial of aldoxorubicin as a treatment for patients with relapsed or refractory soft tissue sarcomas, or STS. The trial enrolled 433 patients at 79 sites in 15 countries including the U.S. and Canada. CytRx also previously announced positive updated results from its pivotal Phase 3 clinical trial evaluating aldoxorubicin compared to investigator's choice in patients with relapsed or refractory soft tissue sarcomas (STS). The study demonstrated a statistically significant improvement in progression-free survival (PFS) between aldoxorubicin and investigator's choice therapy in 246 patients with leiomyosarcoma and liposarcoma, (p=0.007). The hazard ratio (HR) was 0.62 (95% CI 0.44-0.88), representing a 38% reduction in the risk of tumor progression for patients receiving aldoxorubicin versus investigator's choice. Leiomyosarcoma and liposarcoma are the two most common types of STS and accounted for 57% of the patients enrolled in the trial. Aldoxorubicin demonstrated a statistically significant improvement in PFS over investigator's choice in 312 patients treated in North America plus Australia (p=0.028; HR=0.71, 95% CI 0.53-0.97), which represented 72% of the total trial population. Notably, aldoxorubicin performed better than investigator's choice for the entire study population and narrowly missed statistical significance (p=0.12; HR=0.81, 95% CI 0.64-1.06). All responses were determined by an independent, blinded central lab assessment of scans. CytRx is currently evaluating aldoxorubicin in a global Phase 2b clinical trial in second-line small cell lung cancer in which they currently expect to announce top-line data in the second quarter of 2017, as the number of deaths and/or progressions needed for data analysis have not yet been reached. CytRx is also evaluating aldoxorubicin in a Phase 1b trial in combination with ifosfamide in patients with soft tissue sarcoma. CytRx previously completed Phase 2 clinical trials of aldoxorubicin in patients with late-stage glioblastoma (brain cancer) and HIV-related Kaposi's Sarcoma, a Phase 1b trial in combination with gemcitabine in subjects with metastatic solid tumors, a Phase 1b clinical trial of aldoxorubicin in combination with doxorubicin in patients with advanced solid tumors and a Phase 1b pharmacokinetics clinical trial of aldoxorubicin in patients with metastatic solid tumors. CytRx is also engaged at its laboratory facility in Freiburg, Germany in preclinical development in a new class of oncology candidates utilizing our TM technology to attach ultra-high potency drugs to albumin (10-1000 times more potent than traditional chemotherapies; these drugs are attached only to antibodies as antibody-drug conjugates, ADCs) to target tumors. At December 31, 2016, the Company had cash and cash equivalents of approximately $57.0 million. Under the terms of the loan agreement, however, the Company is required to maintain cash equal to a minimum of the greater of three months projected cash burn or $10 million. Management believes that its current resources will be sufficient to fund its operations for the foreseeable future. This estimate is based, in part, upon the Company's currently projected expenditures for 2017 of approximately $39.8 million (unaudited) ,

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation Revenue Recognition Monies received for license fees are deferred and recognized ratably over the performance period in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codifications ("ASC") ASC 605-25, Revenue Recognition – Multiple-Element Arrangements Other Income Cash Equivalents Short-term Investments . Equipment and Furnishings Fair Value Measurements Level 1 – quoted prices in active markets for identical assets or liabilities. Level 2 – other significant observable inputs for the assets or liabilities through corroboration with market data at the measurement date. Level 3 – significant unobservable inputs that reflect management's best estimate of what market participants would use to price the assets or liabilities at the measurement date. The following table summarizes fair value measurements by level at December 31, 2016 for assets and liabilities measured at fair value on a recurring basis: (In thousands) Level I Level II Level III Total Cash equivalents $ 56,276 $ — $ — $ 56,276 Warrant liabilities — — (3,789 ) (3,789 ) (In thousands) Level I Level II Level III Total Cash equivalents $ 20,673 $ — $ — $ 20,673 Short-term investments 35,035 — — 35,035 Warrant liabilities — — (693 ) (693 ) There were no transfers between Levels I, II and III during 2016 or 2015. The changes in carrying amounts of the warrant liability for the years ended December 31, 2016 and 2015 were as follows: (In thousands) 2016 2015 Beginning balance $ 693 $ 5,131 Issued 6,933 — Exercised (9 ) — Net changes in valuation (3,828 ) (4,438 ) Ending balance $ 3,789 $ 693 Liabilities measured at fair market value on a recurring basis include warrant liabilities resulting from recent debt and equity financing. In accordance with ASC 815-40, Derivatives and Hedging – Contracts in Entity's Own Equity the warrant liabilities are being marked to fair value each quarter-end until they are completely settled. The warrants are valued using the Black-Scholes method, using assumptions consistent with the Company's application of ASC 505-50, Equity-Based Payments to Non-Employees ("ASC 505-50"). See Warrant Liabilities below. The Company considers carrying amounts of accounts receivable, accounts payable and accrued expenses to approximate fair value due to the short-term nature of these financial instruments. Patents and Patent Application Costs Net Income (Loss) Per Common Share Warrant Liabilities Stock-based Compensation For stock options and stock warrants paid in consideration of services rendered by non-employees, the Company recognizes compensation expense in accordance with the requirements of ASC 505-50 , Equity , Research and Development Expenses Clinical Trial Expenses Income Taxes Income Taxes, ("ASC 740" Concentrations of Risks Use of Estimates Recent Accounting Pronouncements In August 2016, the Financial Accounting Standards Board issued ASU No. 2016-15 "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force)." The objective of ASU No. 2016-15 is to provide specific guidance on eight cash flow classification issues and how to reduce diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows under Topic 230, Statement of Cash Flows, and other Topics. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. The Company is still in the process of determining the impact that the implementation of ASU 2016-15 will have on its financial statements. In March 2016, the FASB issued Accounting Standards Update 2016-09, Compensation—Stock Compensation In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)," which requires companies to recognize all leases as assets and liabilities on the consolidated balance sheet. This ASU retains a distinction between finance leases and operating leases, and the classification criteria for distinguishing between finance leases and operating leases are substantially similar to the classification criteria for distinguishing between capital leases and operating leases in the current accounting literature. The result of retaining a distinction between finance leases and operating leases is that under the lessee accounting model in Topic 842, the effect of leases in a consolidated statement of comprehensive income and a consolidated statement of cash flows is largely unchanged from previous GAAP. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Earlier application is permitted. The Company is currently evaluating the impact that the adoption of this ASU will have on its financial statements. In January 2016, the FASB issued ASU No. 2016-01 " Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. In November 2015, the FASB issued ASU No. 2015-17 "Income Taxes: Balance Sheet Classification of Deferred Taxes" In April 2015, the FASB issued ASU No. 2015-03, "Simplifying the Presentation of Debt Issuance Costs" In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers" ("ASU 2014-09"), which supersedes nearly all existing revenue recognition guidance under accounting principles generally accepted in United States ("U.S. GAAP"). The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five-step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP. In August 2015, the FASB issued ASU No. 2015-14, "Revenue from Contracts with Customers" ("ASU 2015-14") which deferred the effective date by one year to December 15, 2017 for interim and annual reporting periods beginning after that date. Early adoption is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. When effective, ASU 2014-09 will use either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients; or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). The Company is currently evaluating the impact of its pending adoption of ASU 2014-09 on its consolidated financial statements and have not yet determined the method by which they will adopt the standard. In August 2014, the FASB issued ASU No. 2014-15, " Presentation of Financial Statements – Going Concern (Subtopic 205-40)

Foreign Currency Remeasurement

Foreign Currency Remeasurement	12 Months Ended
	Dec. 31, 2016
Foreign Currency Remeasurement [Abstract]
Foreign Currency Remeasurement	3. Foreign Currency Remeasurement The U.S. dollar has been determined to be the functional currency for the net assets of the Company's laboratory in Freiburg, Germany. The transactions are recorded in the local currencies and are remeasured at each reporting date using the historical rates for nonmonetary assets and liabilities and current exchange rates for monetary assets and liabilities at the balance sheet date. Exchange gains and losses from the remeasurement of monetary assets and liabilities are recognized in other income (loss). The Company recognized a loss of approximately $18,000, $6,000 and 7,000 for the years ended December 31, 2016, 2015 and 2014, respectively.

Receivables

Receivables	12 Months Ended
	Dec. 31, 2016
Receivables [Abstract]
Receivables	4. Receivables At December 31, 2016, the Company had a receivable of $0.2 million as compared to $4.6 million at December 31, 2015. The Company substantially received the amounts recoverable from its insurance carrier, associated with ongoing legal proceedings during 2016. Due to the likelihood of the collectability of the accounts receivable, no allowance was recorded.

Prepaid and Other Assets

Prepaid and Other Assets	12 Months Ended
	Dec. 31, 2016
Prepaid and Other Assets [Abstract]
Prepaid and Other Assets	5. Prepaid and Other Assets At December 31, 2016 and 2015, the Company had $3.4 million and $2.4 million, respectively, of prepaid and other current assets, which consist primarily of deposits on contracts for research and development, prepaid insurance and leases for its facility.

Short-term Investments

Short-term Investments	12 Months Ended
	Dec. 31, 2016
Short-term Investments [Abstract]
Short-term Investments	6. Short-term Investments The Company held no short-term investments at December 31, 2016. At December 31, 2015, the Company held $35.0 million of short-term investments, which have since matured.

Equipment and Furnishings

Equipment and Furnishings	12 Months Ended
	Dec. 31, 2016
Equipment and Furnishings [Abstract]
Equipment and Furnishings	7. Equipment and Furnishings Equipment and furnishings at December 31, 2016 and 2015 consist of the following (in thousands): 2016 2015 Equipment and furnishings $ 2,811 $ 1,843 Less — accumulated depreciation (851 ) (375 ) Equipment and furnishings, net $ 1,960 $ 1,468 Depreciation and amortization expense for the years ended December 31, 2016, 2015 and 2014 were $536,631, $317,649 and $182,927, respectively.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	12 Months Ended
	Dec. 31, 2016
Accrued Expenses and Other Current Liabilities [Abstract]
Accrued Expenses and Other Current Liabilities	8. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities at December 31, 2016 and 2015 are summarized below (in thousands). 2016 2015 Professional fees $ 193 $ 5,459 Research and development costs 2,208 2,625 Litigation settlement 700 1,000 Wages, bonuses and employee benefits 487 527 Other 242 82 Total $ 3,830 $ 9,693

Non-Cash Litigation Settlement

Non-Cash Litigation Settlement Due in Shares of Common Stock	12 Months Ended
	Dec. 31, 2016
Non-Cash Litigation Settlement Due in Shares of Common Stock [Abstract]
Non-Cash Litigation Settlement Due in Shares of Common Stock	9. Non-Cash Litigation Settlement Due in Shares of Common Stock On December 10, 2015, CytRx reached an agreement to settle the 2014 federal consolidated securities class action. As part of the settlement agreement, the Company agreed to issue the equivalent number of shares of its common stock to the class of a non-cash amount of $4,500,000 worth at the prevailing stock price at the time of the Court's final approval of the settlement agreement. In accordance with ASC 480, the Company classified the $4.5 million worth of shares of the common stock as a liability included in the non-cash litigation settlement due in shares of common stock in the December 31, 2015 balance sheet, due to the variable number of shares that would be issued upon the Court's final approval of the settlement agreement. On May 25, 2016, the Company issued 1,561,578 shares of its common stock to settle this liability.

Term Loan

Term Loan	12 Months Ended
	Dec. 31, 2016
Term Loan [Abstract]
Term Loan	10. Term Loan On February 5, 2016, the Company entered into a loan and security agreement with Hercules Technology Growth Capital, Inc. ("HTGC"), as administrative agent and lender, and Hercules Technology III, L.P., as lender, pursuant to which the lenders made long-term loans to the Company on February 8, 2016 in the aggregate principal amount of $25 million. The loans bear interest at the daily variable rate per annum equal to 6.00% plus the prime rate, or 9.75%, whichever is greater. The interest rate at December 31, 2016 was 9.75%. The Company is required to make interest-only payments on the term loans through February 28, 2017, and beginning on March 1, 2017 it will be required to make amortizing payments of principal and accrued interest in equal monthly installments until the maturity date of the term loans. The Company believes that its debt obligations accrue interest at rates which approximate prevailing market rates for instruments with similar characteristics and, accordingly, the carrying values for these instruments approximate fair value. We are required under the terms of the loans to maintain cash on hand of not less than three months' projected cash burn or $10 million, whichever is greater. The Company is in compliance with all the covenants entered into with the lenders as at December 31, 2016. All outstanding principal and accrued interest on the term loans will be due and payable in full on the maturity date of February 1, 2020. As security for the Company's obligations under the loan and securities agreement, the Company granted HTGC, as administrative agent, a security interest in substantially all of its existing and after-acquired assets except for its intellectual property and certain other excluded assets. The following sets forth information regarding the current and long-term portion of the term loan (in thousands): December 31, 2016 Term Loan Principal - Current $ 6,214 Loan Discount & Issuance Cost - Current (732 ) Term Loan, Net - Current $ 5,482 Term Loan Principal $ 18,786 End Fee Payable 1,772 Long Term Loan Discount & Issuance Cost (2,073 ) Long Term Loan, Net $ 18,485 Interest expense on the term loan was $2.8 million for 2016. There was no interest expense in either 2015 or 2014. The future principal payments for the Company's term loan as of December 31, 2016 are as follows (in thousands): 2017 $ 6,214 2018 8,151 2019 8,995 2020 1,640 Total term loan $ 25,000

Warrant Liabilities

Warrant Liabilities	12 Months Ended
	Dec. 31, 2016
Warrant Liabilities [Abstract]
Warrant Liabilities	11. Warrant Liabilities Warrants issued in connection with the Company's July 2016 equity public offering and modified in the Company's December 2016 equity public offering are classified as liabilities as opposed to equity due to their settlement terms. These warrants are non-cash liabilities and the Company is not required to expend any cash to settle these liabilities. The fair value of these warrants were recorded on the balance sheet at issuance and the warrants were marked to fair value at each financial reporting period, with changes in the fair value recorded as a gain or loss in the statement of operations. The fair value of the warrants is determined using the Black-Scholes option pricing model, which requires the use of significant judgment and estimates for the inputs used in the model. The warrants issued in connection with the Company's August 2011 equity public offering expired in August 2016. The following reflects the weighted-average assumptions for each of the periods indicated: Year Ended December 31, 2016 2015 2014 Risk-free interest rate 0.90 % 0.57 % 0.46 % Expected dividend yield 0 % 0 % 0 % Expected lives 1.23 0.59 1.59 Expected volatility 119.1 % 61.7 % 89.7 % Number of warrants classified as liabilities 28,515,071 6,371,854 6,371,854 Gain (Loss) on warrant liabilities $ 3,827,617 $ 4,437,628 $ 19,051,239 The dividend yield assumption of zero is based upon the fact the Company has never paid cash dividends and presently has no intention of paying cash dividends. The risk-free interest rate used for each grant is equal to the U.S. Treasury rates in effect at the time of the grant for instruments with a similar expected life. The expected lives are based on the remaining contractual lives of the related warrants at the valuation date. The Company's computation of expected volatility is based on the historical daily volatility of its publicly traded stock. During the year, 28.6 million warrants in connection with the July equity offering were issued and 56,358 warrants were exercised resulting in the issuance of 56,358 shares of the Company's common stock.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies Commitments The Company acquires assets still in development and enters into research and development arrangements with third parties that often require milestone and royalty payments to the third party contingent upon the occurrence of certain future events linked to the success of the asset in development. Milestone payments may be required, up to an aggregate of $7.5 million, contingent upon the successful achievement of an important point in the development life-cycle of the pharmaceutical product (e.g., approval of the product for marketing by a regulatory agency). If required, CytRx may also have to make royalty payments, based upon a percentage of the sales of the pharmaceutical product. In respect of aldoxorubicin, it agreed to pay up to a maximum amount of approximately $18.3 million, payable in shares of its common stock, in the event that regulatory approval for marketing is obtained. These arrangements may be material individually, and in the unlikely event that milestones for multiple products covered by these arrangements were reached in the same period, the aggregate charge to expense could be material to the results of operations in any one period. In addition, these arrangements often give CytRx the discretion to unilaterally terminate development of the product, which would allow CytRx to avoid making the contingent payments; however, CytRx is unlikely to cease development if the compound successfully achieves clinical testing objectives. CytRx's current contractual obligations that will require future cash payments are as follows (in thousands): Operating Leases (1) Employment Agreements (2) Research and Development (3) Total 2017 $ 397 $ 3,257 $ 19,325 $ 22,979 2018 373 1,682 47 2,102 2019 278 1,057 37 1,372 2020 59 1,057 — 1,116 2021 — 1,057 — 1,057 Thereafter — — — — Total $ 1,107 $ 8,110 $ 19,409 $ 8,626 ____________ (1) Operating leases are primarily facility lease related obligations, as well as equipment lease obligations with third party vendors. The Company recognized rent expenses of $358,247, $351,075, and $335,991 in 2016, 2015 and 2014, respectively. (2) Employment agreements include management contracts which have been revised from time to time. The employment agreement for the Company's executive officers provide for minimum salaries, which are adjusted annually at the discretion of the Company's Compensation Committee, and in some cases provide for minimum annual bonuses and employee benefits, as well. New employment agreements for the Company's other executive officers are usually entered into annually or biennially. (3) Research and development obligations relate primarily to clinical trials. All of these purchase obligations are cancelable. Contingencies The Company applies the disclosure provisions of ASC 460, Guarantees ("ASC 460") to its agreements that contain guarantees or indemnities by the Company. The Company provides (i) indemnifications of varying scope and size to certain investors and other parties for certain losses suffered or incurred by the indemnified party in connection with various types of third-party claims; and (ii) indemnifications of varying scope and size to officers and directors against third party claims arising from the services they provide to the Company. Shareholder Derivative Action in California. Pankratz v. Kriegsman Taylor v. Kriegsman Pankratz and Taylor forum non conveniens, Shareholder Derivative Actions in Delaware Niedermeyer et al. v. Kriegsman et al. Taylor v. Kriegsman Niedermeyer et al. Class Action in California. Crihfield v. CytRx Corp., et al. Dorce v. CytRx Corp. In re: CytRx Corporation Securities Litigation Crihfield The Company intends to vigorously defend against the foregoing complaints. CytRx has directors' and officers' liability insurance, which will be utilized in the defense of these matters. The liability insurance may not cover all of the future liabilities the Company may incur in connection with the foregoing matters. The Company evaluates developments in legal proceedings and other matters on a quarterly basis. The Company records accruals for loss contingencies to the extent that the Company concludes that it is probable that a liability has been incurred and the amount of the related loss can be reasonably estimated. The Company has accrued $0.7 million of litigation settlement related to Shareholder Derivative actions.

Equity Transactions

Equity Transactions	12 Months Ended
	Dec. 31, 2016
Equity Transactions [Abstract]
Equity Transactions	13. Equity Transactions As of December 31, 2016, the Company has reserved approximately 12.0 million of its authorized but unissued shares of common stock for future issuance pursuant to its employee stock option plans issued to employees and consultants. In 2016, the Company issued 330,000 shares of its common stock resulting from the exercise of employee stock options and issued 2,325,581 shares in restricted common stock (see Note 14). On December 16, 2016, the Company issued 11,540,741 shares of its common stock and 3,300 convertible preferred shares at a stated value of $1,000, and repriced 19,397,884 warrants from the July 2016 financing, from $0.70 to $0.51 per common stock, along with extending their term through July 2018, all in respect of a public offering. As a result of the Series B conversion price of $0.42 being less than the common stock price at the closing date, a beneficial conversion feature was recognized in the amount of $0.3 million. Since the preferred stock was immediately convertible, the entire beneficial conversion feature was recognized as a deemed dividend on December 16, 2016. In December 2016, 192 preferred shares were converted at their conversion rate of $0.42 in exchange for 457,143 common shares. On July 20, 2016, the Company issued 28,571,429 shares of its common stock and one-year warrants to purchase an equal number of shares of its common stock in a public offering. On October 26, 2015, the Company retired 199,275 shares of its treasury stock at cost ($2.6 million). On July, 24, 2015, the Company completed a $28.7 million underwritten public offering, in which it sold and issued approximately 10.5 million shares of common stock at a price of $2.75 per share. Net of underwriting discounts, legal, accounting and other offering expenses, the Company received proceeds of approximately $26.8 million. On March 15, 2014, the Company issued 200,000 common shares to KTB Tumorforschungs GmbH, the licensor of aldoxorubicin, in connection with the establishment of the Company's Freiburg, Germany research and development laboratory. The fair value of the shares was $0.8 million, based on the stock price as of the date of the transaction. On February 5, 2014, the Company completed an $86.0 million underwritten public offering, in which it sold and issued 13.2 million shares of common stock at a price of $6.50 per share. Net of underwriting discounts, legal, accounting and other offering expenses, the Company received proceeds of approximately $80.5 million .

Stock Options and Equity-Classi

Stock Options and Equity-Classified Warrants	12 Months Ended
	Dec. 31, 2016
Stock Options and Equity-Classified Warrants [Abstract]
Stock Options and Equity-Classified Warrants	14. Stock Options and Equity-Classified Warrants Stock Options The Company has a 2000 Long-Term Incentive Plan under which 1.4 million shares of common stock were originally reserved for issuance. As of December 31, 2016, there were approximately 0.5 million The Company also has a 2008 Stock Incentive Plan under which 30 million shares of common stock are reserved for issuance. As of December 31, 2016, there were 17.1 million shares subject to outstanding stock options and 2.3 million shares outstanding related to restricted stock grants issued from the 2008 Plan and 12.0 million shares available for future grant under this plan. The Company follows the provisions of ASC 718, Compensation-Stock Compensation, On June 2, 2015, the Company announced that it had reached an agreement to settle the Delaware stockholder derivative action. Under the settlement, they have agreed to re-price outstanding stock options to purchase a total of 2,095,000 shares of its common stock that were granted on December 10, 2013 to certain of its directors and officers from the original exercise price of $2.39 to an exercise price of $4.66 (the share price at market closing on December 20, 2013). The fair value of the stock options at the date of grant was estimated using the Black-Scholes option-pricing model, based on the following assumptions: 2016 2015 2014 Risk-free interest rate 1.20% - 2.26 % 1.74% - 2.42 % 1.74% - 2.12 % Expected volatility 74% - 88 % 74% - 85 % 82% - 90 % Expected lives (years) 6 - 10 6 - 10 6 - 10 Expected dividend yield 0.00 % 0.00 % 0.00 % The Company's computation of expected volatility is based on the historical daily volatility of its publicly traded stock. For option grants issued during years ended December 31, 2016, 2015 and 2014, the Company used a calculated volatility for each grant. The Company lacks adequate information about the exercise behavior at this time and has determined the expected term assumption under the simplified method provided for under ASC 718, which averages the contractual term of the Company's options of ten years with the average vesting term of three years for an average of six years. The dividend yield assumption of zero is based upon the fact the Company has never paid cash dividends and presently has no intention of paying cash dividends. The risk-free interest rate used for each grant is equal to the U.S. Treasury rates in effect at the time of the grant for instruments with a similar expected life. Based on historical experience, for each of the three years ended December 31, 2016, 2015 and 2014, the Company has estimated an annualized forfeiture rate of 10% for options granted to its employees, 2% for options granted to senior management and 0% for options granted to directors. Compensation costs will be adjusted for future changes in estimated forfeitures. The Company will record additional expense if the actual forfeitures are lower than estimated and will record a recovery of prior expense if the actual forfeiture rates are higher than estimated. No amounts relating to employee stock-based compensation have been capitalized. At December 31, 2016, there remained approximately $4.1 million of unrecognized compensation expense related to unvested stock options granted to current employees and directors, to be recognized as expense over a weighted-average period of 1.24 years. Presented below is the Company's stock option activity for employees and directors: Stock Options Weighted Average Exercise Price 2016 2015 2014 2016 2015 2014 Outstanding — beginning of year 13,583,862 9,358,592 6,228,593 $ 3.11 $ 2.83 $ 3.11 Granted 4,857,500 4,590,000 3,190,000 0.59 2.61 2.47 Exercised (330,000 ) (287,143 ) (1,667 ) 2.14 2.05 1.83 Forfeited (1,176,737 ) — (24,333 ) 3.49 — 2.81 Expired (54,855 ) (77,587 ) (34,001 ) 8.03 5.58 8.18 Outstanding — end of year 16,879,770 13,583,862 9,358,592 2.36 3.11 2.83 Exercisable at end of year 10,867,920 8,020,162 4,901,511 $ 2.95 $ 3.45 $ 3.22 Weighted average fair value of stock options granted during the year: $ 0.43 $ 1.88 $ 1.80 For stock options paid in consideration of services rendered by non-employees, the Company recognizes compensation expense in accordance with the requirements of ASC 505-50. Non-employee option grants that do not vest immediately upon grant are recorded as an expense over the vesting period. At the end of each financial reporting period prior to performance, the value of these options, as calculated using the Black-Scholes option pricing model, is determined, and compensation expense recognized or recovered during the period is adjusted accordingly. Since the fair market value of options granted to non-employees is subject to change in the future, the amount of the future compensation expense is subject to adjustment until the common stock options are fully vested. The Company recorded approximately $0, $0 and $1,276,000 of non-cash charges related to the issuance of stock options to certain consultants in exchange for services during 2016, 2015 and 2014, respectively. At December 31, 2016, there was no unrecognized compensation expense related to unvested non-employee stock options. Presented below is the Company's non-employee stock option activity: Stock Options Weighted Average Exercise Price 2016 2015 2014 2016 2015 2014 Outstanding — beginning of year 635,714 692,143 167,143 $ 3.02 $ 3.47 $ 5.69 Granted — — 550,000 — — 2.76 Exercised — — — — — — Expired/Forfeited (35,714 ) (56,429 ) (25,000 ) 7.77 8.54 2.79 Outstanding — end of year 600,000 635,714 692,143 2.73 3.02 3.47 Exercisable at end of year 600,000 635,714 692,143 $ 2.73 $ 3.02 $ 3.47 Weighted average fair value of stock options granted during the year: $ — $ — $ 1.98 The fair value of the stock options at the date of grant was estimated using the Black-Scholes option-pricing model, based on the following assumptions: 2016 2015 2014 Risk-free interest rate — — 2.23 % Expected volatility — — 85.0 % Expected lives (years) — — 10 Expected dividend yield — — 0 % The following table summarizes significant ranges of outstanding stock options under the two plans at December 31, 2016: Range of Exercise Prices Number of Options Weighted Average Remaining Contractual Life (years) Weighted Average Exercise Price Number of Options Exercisable Weighted Average Contractual Life Weighted Average Exercise Price $ 0.43 — 1.50 4,432,498 9.95 $ 0.44 1,086,696 9.95 $ 0.45 $ 1.51 — 2.50 8,932,606 7.85 2.26 6,293,224 7.49 2.22 $ 2.51 — 4.00 960,670 7.13 2.88 934,004 7.10 2.87 $ 4.01 — 32.55 3,153,996 6.17 5.24 3,153,996 6.17 5.24 17,479,770 8.04 $ 2.37 11,467,920 7.33 $ 2.93 There was no aggregate intrinsic value to the outstanding options, options vested, and options exercised during 2016. The following table sets forth the total stock-based compensation expense resulting from stock options and warrants included in the Company's Statements of Operations: Years Ended December 31, 2016 2015 2014 Research and development - employee $ 1,822,508 $ 1,590,267 $ 932,482 General and administrative - employee 4,661,795 5,568,537 2,383,624 Total employee stock-based compensation $ 6,484,303 $ 7,158,804 $ 3,316,106 Research and development – non-employee $ — $ — $ 86,539 General and administrative – non-employee 235,764 225,852 1,736,703 Total non-employee stock-based compensation $ 235,764 $ 225,852 $ 1,823,242 Restricted Stock In December 2016, the Company granted to Stephen Kriegsman, Chief Executive Officer, 2,325,581 shares of restricted common stock, pursuant to the 2008 Plan. This restricted stock vests in equal annual instalments over three years. The fair value of the restricted stock is based on the market price of the Company's shares on the grant date less the par value received as consideration. The fair value of the restricted stock on the grant date was $1,000,000. The Company did not issue any restricted stock for the year ended December 31, 2015. On January 1, 2014, the Company granted to Dr. Daniel Levitt, Executive Vice President and Chief Medical Officer, 100,000 shares of restricted common stock pursuant to the 2008 Plan, which shares have now fully vested. The fair value of the restricted stock is based on the market price of the Company's shares on the grant date less the par value received as consideration. The fair value of the restricted shares granted on January 1, 2014 was $626,900. The Company recorded an employee stock-based compensation expense for restricted stock of approximately $15,000, $0 and $626,900 for the years ended December 31, 2016, 2015 and 2014, respectively. Equity-Classified Warrants In December 2016, the Company issued to a consultant a one-year contingent warrant to purchase 2,000,000 shares of common stock at an exercise price of $0.70. No expense was recorded due to the performance contingent nature of the warrants. Should this performance contingency be removed, the warrant term will be extended for eighteen months from that date. In February 2016, in connection with a loan and security agreement with Hercules Technology Growth Capital, Inc. and Hercules Technology III, L.P. ("lenders") (see Note 10), the Company issued to the lenders warrants to purchase a total of 634,146 shares of our common stock at an exercise price of $2.05. These warrants had a fair value of $633,749 on the date of issuance and were recorded as a loan discount. In February 2016, the Company also issued a warrant to a consultant to purchase 500,000 shares of our common stock at an exercise price of $1.74. These warrants will be fully vested by February 2018. The warrant expense in 2016, recognized as non-employee stock-based compensation expenses, was $157,797. In March 2015, the Company extended the term of the 250,000 warrants issued in November 2013 by three years. These warrants will now expire in 2018. The Company recognized a non-employee stock-based compensation expense of $77,967 relating to the term extension in 2016 and $61,480 in 2015. In March 2014, the Company issued a warrant to purchase 25,000 shares of its common stock at an exercise price of $5.60 in connection with the establishment of its Freiburg, Germany research and development laboratory. A summary of the Company's warrant activity and related information for the years ended December 31 are shown below. Warrants Weighted Average Exercise Price 2016 2015 2014 2016 2015 2014 Outstanding — beginning of year 7,225,472 7,349,760 8,324,609 $ 4.28 $ 4.27 $ 4.86 Granted 31,705,575 — 25,000 0.62 — 5.60 Exercised (56,358 ) (10,000 ) (340,527 ) 0.70 2.50 2.56 Forfeited — — — — — — Expired (6,371,899 ) (114,288 ) (659,322 ) 4.48 3.82 12.66 Outstanding — end of year 32,502,790 7,225,472 7,349,760 0.68 4.28 4.27 Exercisable at end of year 30,190,290 7,225,472 7,149,760 $ 0.67 $ 4.28 $ 4.32 Weighted average fair value of warrants granted during the year: $ 0.26 $ — $ 3.46 During 2016, no warrants were surrendered in connection with the cashless exercise, as compared to 10,000 warrants during 2015. The following table summarizes additional information concerning warrants outstanding and exercisable at December 31, 2016: Warrants Outstanding Range of Exercise Prices Number of Shares Weighted Average Remaining Contractual Life (years) Weighted Average Exercise Price Number of Warrants Exercisable Weighted Average Contractual Life Weighted Average Exercise Price $ 0.43 — 1.50 31,015,071 1.29 $ 0.60 28,702,571 1.25 $ 0.58 $ 1.51 — 2.50 1,337,719 2.69 2.30 1,337,719 2.30 2.30 $ 2.51 — 4.00 125,000 1.86 3.75 125,000 1.86 3.75 $ 4.01 — 32.55 25,000 7.21 5.60 25,000 7.21 5.60 32,502,790 1.35 $ 0.68 30,190,290 1.35 $ 0.67

Stockholder Protection Rights P

Stockholder Protection Rights Plan	12 Months Ended
	Dec. 31, 2016
Stockholder Protection Rights Plan [Abstract]
Stockholder Protection Rights Plan	15. Stockholder Protection Rights Plan Effective April 16, 1997, the Company's board of directors declared a distribution of one right ("Rights") for each outstanding share of the Company's common stock to stockholders of record at the close of business on May 15, 1997 and for each share of common stock issued by the Company thereafter and prior to a Flip-in Date (as defined below). Each Right entitles the registered holder to purchase from the Company one-ten thousandth (1/10,000th) of a share of Series A Junior Participating Preferred Stock, at an exercise price of $30. The Rights are generally not exercisable until 10 business days after an announcement by the Company that a person or group of affiliated persons (an "Acquiring Person") has acquired beneficial ownership of 15% or more of the Company's then outstanding shares of common stock (a "Flip-in Date"). In the event the Rights become exercisable as a result of the acquisition of shares, each Right will enable the owner, other than the Acquiring Person, to purchase at the Right's then-current exercise price a number of shares of common stock with a market value equal to twice the exercise price. In addition, unless the Acquiring Person owns more than 50% of the outstanding shares of common stock, the Board of Directors may elect to exchange all outstanding Rights (other than those owned by such Acquiring Person) at an exchange ratio of one share of common stock per Right. All Rights that are owned by any person on or after the date such person becomes an Acquiring Person will be null and void. The Rights have been distributed to protect the Company's stockholders from coercive or abusive takeover tactics and to give the Board of Directors more negotiating leverage in dealing with prospective acquirers. In July 2016, the Company extended the stockholder rights plan through April 2022.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Taxes [Abstract]
Income Taxes	16. Income Taxes At December 31, 2016, the Company had federal and state net operating loss carryforwards of $333.5 million and $224.0 million, respectively, available to offset against future taxable income, which expire in 2017 through 2036. As a result of a change in-control that occurred in the CytRx shareholder base, approximately $62.3 million in federal net operating loss carryforwards became substantially limited in their annual availability. Management currently believes that the remaining $271.2 million in federal net operating loss carryforwards, and the $224.0 million in state net operating loss carryforwards, are unrestricted. As of December 31, 2016, CytRx also had research and development and alternative minimum tax credits for federal and state purposes of approximately $16.0 million and $21.2 million, respectively, available for offset against future income taxes, which expire in 2022 through 2036. Based on an assessment of all available evidence including, but not limited to, the Company's limited operating history in its core business and lack of profitability, uncertainties of the commercial viability of its technology, the impact of government regulation and healthcare reform initiatives, and other risks normally associated with biotechnology companies, the Company has concluded that it is more likely than not that these net operating loss carryforwards and credits will not be realized and, as a result, a 100% deferred tax valuation allowance has been recorded against these assets. Deferred income taxes reflect the net effect of temporary differences between the financial reporting carrying amounts of assets and liabilities and income tax carrying amounts of assets and liabilities. The components of the Company's deferred tax assets and liabilities, all of which are long-term, are as follows (in thousands): December 31, 2016 2015 Deferred tax assets: Net operating loss carryforwards $ 126,244 $ 105,661 Tax credit carryforwards 29,970 27,671 Equipment, furnishings and other 9,297 10,547 Total deferred tax assets 165,511 143,879 Deferred tax liabilities (301 ) (270 ) Net deferred tax assets 165,210 143,609 Valuation allowance (165,210 ) (143,609 ) $ — $ — For all years presented, the Company did not recognize any deferred tax assets or liabilities. The net change in valuation allowance for the years ended December 31, 2016 and 2015 was $21.4 million and $20.1 million, respectively. The provision for income taxes differs from the provision computed by applying the Federal statutory rate to net loss before income taxes as follows (in thousands): Years ended December 31, 2016 2015 2014 Federal benefit at statutory rate $ (17,262 ) $ (19,919 ) $ (10,240 ) State income taxes, net of Federal taxes (3,086 ) (3,556 ) (2,773 ) State credits (1,031 ) (1,324 ) (990 ) Warrant liabilities (1,301 ) (1,509 ) (6,477 ) Other permanent differences 40 16 37 Provision related to change in valuation allowance 21,601 20,142 23,440 Current year tax credit (1,119 ) (2,050 ) (1,300 ) Return to provision 2,156 8,198 (1,504 ) Other, net 3 3 (192 ) $ 1 $ 1 $ 1 There have been no changes to the Company's liability for unrecognized tax benefits during the year ended December 31, 2016. The Company files income tax returns in the U.S. Federal jurisdiction and various state jurisdictions. As of the year ended December 31, 2016, the tax returns for 2012 through 2016 remain open to examination by the Internal Revenue Service and various state tax authorities. The Company's policy is to recognize any interest and penalties related to unrecognized tax benefits as a component of income tax expense. As of the years ended December 31, 2016, 2015 and 2014, the Company had accrued no interest or penalties related to uncertain tax positions.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	12 Months Ended
	Dec. 31, 2016
Earnings (Loss) Per Share [Abstract]
Earnings (Loss) Per Share	17. Earnings (Loss) Per Share Basic earnings per share are calculated using the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share calculations include any dilutive effect of potential common shares. In periods with a net loss from continuing operations, diluted earnings per share are calculated using weighted-average basic shares for that period, as utilizing diluted shares would be anti-dilutive to loss per share. A reconciliation of the amounts used to calculate basic and diluted earnings per share for the year ended December 31, 2016 follows (in thousands, except per share data): Net loss $ 50,771 Add: Series B convertible preferred stock deemed dividends 314 Net loss available to common shareholders – basic and diluted 51,085 Weighted-average common shares outstanding – basic and diluted 81.1 million Basic and diluted loss per share – common shareholders $ (0.63 )

Quarterly Financial Data (unaud

Quarterly Financial Data (unaudited)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Data (unaudited) [Abstract]
Quarterly Financial Data (unaudited)	18. Quarterly Financial Data (unaudited) Summarized quarterly financial data for 2016 and 2015 is as follows (in thousands, except per share data): Quarters Ended March 31 June 30 September 30 December 31 (In thousands, except per share data) 2016 Total revenues $ — $ 100 $ — $ 100 Net loss $ (12,643 ) $ (18,280 ) $ (12,175 ) $ (7,672 ) Basic and diluted loss per share applicable to common stock $ (0.19 ) $ (0.27 ) $ (0.13 ) $ (0.08 ) 2015 Total revenues $ — $ — $ — $ 100 Net income (loss) $ (17,525 ) $ (11,687 ) $ (7,073 ) $ (22,302 ) Basic and diluted income (loss) per share applicable to common stock $ (0.31 ) $ (0.21 ) $ (0.11 ) $ (0.34 ) Quarterly and year-to-date loss per share amounts are computed independently of each other. Therefore, the sum of the per share amounts for the quarters may not agree to the per share amounts for the year.

Subsequent Event

Subsequent Event	12 Months Ended
	Dec. 31, 2016
Subsequent Event [Abstract]
Subsequent Event	19. Subsequent Event In January and February 2017, a total of 2,520 Series B preferred shares were converted in exchange for 6,000,000 common shares of the Company's common stock.

SCHEDULE II - VALUATION AND QUA

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2016
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS [Abstract]
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	CYTRX CORPORATION SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS For the Years Ended December 31, 2016, 2015 and 2014 Additions Description Balance at Beginning of Year Charged to Costs and Expenses Charged to Other Accounts Deductions Balance at End of Year Reserve Deducted in the Balance Sheet from the Asset to Which it Applies: Allowance for Deferred Tax Assets Year ended December 31, 2016 $ 143,609,000 $ — $ 21,601,000 $ — $ 165,210,000 Year ended December 31, 2015 $ 123,466,000 $ — $ 20,143,000 $ — $ 143,609,000 Year ended December 31, 2014 $ 100,026,000 $ — $ 23,440,000 $ — $ 123,466,000

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation
Revenue Recognition	Revenue Recognition Monies received for license fees are deferred and recognized ratably over the performance period in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codifications ("ASC") ASC 605-25, Revenue Recognition – Multiple-Element Arrangements
Other Income	Other Income
Cash Equivalents	Cash Equivalents
Short-term Investments	Short-term Investments .
Equipment and Furnishings	Equipment and Furnishings
Fair Value Measurements	Fair Value Measurements Level 1 – quoted prices in active markets for identical assets or liabilities. Level 2 – other significant observable inputs for the assets or liabilities through corroboration with market data at the measurement date. Level 3 – significant unobservable inputs that reflect management's best estimate of what market participants would use to price the assets or liabilities at the measurement date. The following table summarizes fair value measurements by level at December 31, 2016 for assets and liabilities measured at fair value on a recurring basis: (In thousands) Level I Level II Level III Total Cash equivalents $ 56,276 $ — $ — $ 56,276 Warrant liabilities — — (3,789 ) (3,789 ) (In thousands) Level I Level II Level III Total Cash equivalents $ 20,673 $ — $ — $ 20,673 Short-term investments 35,035 — — 35,035 Warrant liabilities — — (693 ) (693 ) There were no transfers between Levels I, II and III during 2016 or 2015. The changes in carrying amounts of the warrant liability for the years ended December 31, 2016 and 2015 were as follows: (In thousands) 2016 2015 Beginning balance $ 693 $ 5,131 Issued 6,933 — Exercised (9 ) — Net changes in valuation (3,828 ) (4,438 ) Ending balance $ 3,789 $ 693 Liabilities measured at fair market value on a recurring basis include warrant liabilities resulting from recent debt and equity financing. In accordance with ASC 815-40, Derivatives and Hedging – Contracts in Entity's Own Equity the warrant liabilities are being marked to fair value each quarter-end until they are completely settled. The warrants are valued using the Black-Scholes method, using assumptions consistent with the Company's application of ASC 505-50, Equity-Based Payments to Non-Employees ("ASC 505-50"). See Warrant Liabilities below. The Company considers carrying amounts of accounts receivable, accounts payable and accrued expenses to approximate fair value due to the short-term nature of these financial instruments.
Patents and Patent Application Costs	Patents and Patent Application Costs
Net Income (Loss) Per Common Share	Net Income (Loss) Per Common Share
Warrant Liabilities	Warrant Liabilities
Stock-based Compensation	Stock-based Compensation For stock options and stock warrants paid in consideration of services rendered by non-employees, the Company recognizes compensation expense in accordance with the requirements of ASC 505-50 , Equity ,
Research and Development Expenses	Research and Development Expenses
Clinical Trial Expenses	Clinical Trial Expenses
Income Taxes	Income Taxes Income Taxes, ("ASC 740"
Concentrations of Risks	Concentrations of Risks
Use of Estimates	Use of Estimates
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2016, the Financial Accounting Standards Board issued ASU No. 2016-15 "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force)." The objective of ASU No. 2016-15 is to provide specific guidance on eight cash flow classification issues and how to reduce diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows under Topic 230, Statement of Cash Flows, and other Topics. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. The Company is still in the process of determining the impact that the implementation of ASU 2016-15 will have on its financial statements. In March 2016, the FASB issued Accounting Standards Update 2016-09, Compensation—Stock Compensation In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)," which requires companies to recognize all leases as assets and liabilities on the consolidated balance sheet. This ASU retains a distinction between finance leases and operating leases, and the classification criteria for distinguishing between finance leases and operating leases are substantially similar to the classification criteria for distinguishing between capital leases and operating leases in the current accounting literature. The result of retaining a distinction between finance leases and operating leases is that under the lessee accounting model in Topic 842, the effect of leases in a consolidated statement of comprehensive income and a consolidated statement of cash flows is largely unchanged from previous GAAP. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Earlier application is permitted. The Company is currently evaluating the impact that the adoption of this ASU will have on its financial statements. In January 2016, the FASB issued ASU No. 2016-01 " Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. In November 2015, the FASB issued ASU No. 2015-17 "Income Taxes: Balance Sheet Classification of Deferred Taxes" In April 2015, the FASB issued ASU No. 2015-03, "Simplifying the Presentation of Debt Issuance Costs" In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers" ("ASU 2014-09"), which supersedes nearly all existing revenue recognition guidance under accounting principles generally accepted in United States ("U.S. GAAP"). The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five-step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP. In August 2015, the FASB issued ASU No. 2015-14, "Revenue from Contracts with Customers" ("ASU 2015-14") which deferred the effective date by one year to December 15, 2017 for interim and annual reporting periods beginning after that date. Early adoption is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. When effective, ASU 2014-09 will use either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients; or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). The Company is currently evaluating the impact of its pending adoption of ASU 2014-09 on its consolidated financial statements and have not yet determined the method by which they will adopt the standard. In August 2014, the FASB issued ASU No. 2014-15, " Presentation of Financial Statements – Going Concern (Subtopic 205-40)

Summary of Significant Accoun28

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
Summary of Significant Accounting Policies [Abstract]
Fair Value Measurements for Assets and Liabilities on Recurring Basis	The following table summarizes fair value measurements by level at December 31, 2016 for assets and liabilities measured at fair value on a recurring basis: (In thousands) Level I Level II Level III Total Cash equivalents $ 56,276 $ — $ — $ 56,276 Warrant liabilities — — (3,789 ) (3,789 ) (In thousands) Level I Level II Level III Total Cash equivalents $ 20,673 $ — $ — $ 20,673 Short-term investments 35,035 — — 35,035 Warrant liabilities — — (693 ) (693 )
Changes in Carrying Amounts of Warrant Liabilities	The changes in carrying amounts of the warrant liability for the years ended December 31, 2016 and 2015 were as follows: (In thousands) 2016 2015 Beginning balance $ 693 $ 5,131 Issued 6,933 — Exercised (9 ) — Net changes in valuation (3,828 ) (4,438 ) Ending balance $ 3,789 $ 693

Equipment and Furnishings (Tabl

Equipment and Furnishings (Tables)	12 Months Ended
	Dec. 31, 2016
Equipment and Furnishings [Abstract]
Equipment and Furnishings	Equipment and furnishings at December 31, 2016 and 2015 consist of the following (in thousands): 2016 2015 Equipment and furnishings $ 2,811 $ 1,843 Less — accumulated depreciation (851 ) (375 ) Equipment and furnishings, net $ 1,960 $ 1,468

Accrued Expenses and Other Cu30

Accrued Expenses and Other Current Liabilities (Tables)	12 Months Ended
	Dec. 31, 2016
Accrued Expenses and Other Current Liabilities [Abstract]
Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities at December 31, 2016 and 2015 are summarized below (in thousands). 2016 2015 Professional fees $ 193 $ 5,459 Research and development costs 2,208 2,625 Litigation settlement 700 1,000 Wages, bonuses and employee benefits 487 527 Other 242 82 Total $ 3,830 $ 9,693

Term Loan (Tables)

Term Loan (Tables)	12 Months Ended
	Dec. 31, 2016
Term Loan [Abstract]
Schedule of Term Loan	The following sets forth information regarding the current and long-term portion of the term loan (in thousands): December 31, 2016 Term Loan Principal - Current $ 6,214 Loan Discount & Issuance Cost - Current (732 ) Term Loan, Net - Current $ 5,482 Term Loan Principal $ 18,786 End Fee Payable 1,772 Long Term Loan Discount & Issuance Cost (2,073 ) Long Term Loan, Net $ 18,485
Future Principal Payments of Term Loan	The future principal payments for the Company's term loan as of December 31, 2016 are as follows (in thousands): 2017 $ 6,214 2018 8,151 2019 8,995 2020 1,640 Total term loan $ 25,000

Warrant Liabilities (Tables)

Warrant Liabilities (Tables)	12 Months Ended
	Dec. 31, 2016
Warrant Liabilities [Abstract]
Schedule of Weighted-Average Assumptions	The following reflects the weighted-average assumptions for each of the periods indicated: Year Ended December 31, 2016 2015 2014 Risk-free interest rate 0.90 % 0.57 % 0.46 % Expected dividend yield 0 % 0 % 0 % Expected lives 1.23 0.59 1.59 Expected volatility 119.1 % 61.7 % 89.7 % Number of warrants classified as liabilities 28,515,071 6,371,854 6,371,854 Gain (Loss) on warrant liabilities $ 3,827,617 $ 4,437,628 $ 19,051,239

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies [Abstract]
Current Contractual Obligations	CytRx's current contractual obligations that will require future cash payments are as follows (in thousands): Operating Leases (1) Employment Agreements (2) Research and Development (3) Total 2017 $ 397 $ 3,257 $ 19,325 $ 22,979 2018 373 1,682 47 2,102 2019 278 1,057 37 1,372 2020 59 1,057 — 1,116 2021 — 1,057 — 1,057 Thereafter — — — — Total $ 1,107 $ 8,110 $ 19,409 $ 8,626 ____________ (1) Operating leases are primarily facility lease related obligations, as well as equipment lease obligations with third party vendors. The Company recognized rent expenses of $358,247, $351,075, and $335,991 in 2016, 2015 and 2014, respectively. (2) Employment agreements include management contracts which have been revised from time to time. The employment agreement for the Company's executive officers provide for minimum salaries, which are adjusted annually at the discretion of the Company's Compensation Committee, and in some cases provide for minimum annual bonuses and employee benefits, as well. New employment agreements for the Company's other executive officers are usually entered into annually or biennially. (3) Research and development obligations relate primarily to clinical trials. All of these purchase obligations are cancelable.

Stock Options and Equity-Clas34

Stock Options and Equity-Classified Warrants (Tables)	12 Months Ended
	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Total Stock-Based Compensation Expense from Stock Options and Warrants	The following table sets forth the total stock-based compensation expense resulting from stock options and warrants included in the Company's Statements of Operations: Years Ended December 31, 2016 2015 2014 Research and development - employee $ 1,822,508 $ 1,590,267 $ 932,482 General and administrative - employee 4,661,795 5,568,537 2,383,624 Total employee stock-based compensation $ 6,484,303 $ 7,158,804 $ 3,316,106 Research and development – non-employee $ — $ — $ 86,539 General and administrative – non-employee 235,764 225,852 1,736,703 Total non-employee stock-based compensation $ 235,764 $ 225,852 $ 1,823,242
Significant Ranges of Outstanding Stock Options and Warrants	The following table summarizes significant ranges of outstanding stock options under the two plans at December 31, 2016: Range of Exercise Prices Number of Options Weighted Average Remaining Contractual Life (years) Weighted Average Exercise Price Number of Options Exercisable Weighted Average Contractual Life Weighted Average Exercise Price $ 0.43 — 1.50 4,432,498 9.95 $ 0.44 1,086,696 9.95 $ 0.45 $ 1.51 — 2.50 8,932,606 7.85 2.26 6,293,224 7.49 2.22 $ 2.51 — 4.00 960,670 7.13 2.88 934,004 7.10 2.87 $ 4.01 — 32.55 3,153,996 6.17 5.24 3,153,996 6.17 5.24 17,479,770 8.04 $ 2.37 11,467,920 7.33 $ 2.93
Stock Options [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair Value Assumptions of Stock Options	The fair value of the stock options at the date of grant was estimated using the Black-Scholes option-pricing model, based on the following assumptions: 2016 2015 2014 Risk-free interest rate 1.20% - 2.26 % 1.74% - 2.42 % 1.74% - 2.12 % Expected volatility 74% - 88 % 74% - 85 % 82% - 90 % Expected lives (years) 6 - 10 6 - 10 6 - 10 Expected dividend yield 0.00 % 0.00 % 0.00 %
Stock Options [Member] | Non-employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair Value Assumptions of Stock Options	The fair value of the stock options at the date of grant was estimated using the Black-Scholes option-pricing model, based on the following assumptions: 2016 2015 2014 Risk-free interest rate — — 2.23 % Expected volatility — — 85.0 % Expected lives (years) — — 10 Expected dividend yield — — 0 %
Stock Options and Warrants Activity	Presented below is the Company's non-employee stock option activity: Stock Options Weighted Average Exercise Price 2016 2015 2014 2016 2015 2014 Outstanding — beginning of year 635,714 692,143 167,143 $ 3.02 $ 3.47 $ 5.69 Granted — — 550,000 — — 2.76 Exercised — — — — — — Expired/Forfeited (35,714 ) (56,429 ) (25,000 ) 7.77 8.54 2.79 Outstanding — end of year 600,000 635,714 692,143 2.73 3.02 3.47 Exercisable at end of year 600,000 635,714 692,143 $ 2.73 $ 3.02 $ 3.47 Weighted average fair value of stock options granted during the year: $ — $ — $ 1.98
Stock Options [Member] | Employees and Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Options and Warrants Activity	Presented below is the Company's stock option activity for employees and directors: Stock Options Weighted Average Exercise Price 2016 2015 2014 2016 2015 2014 Outstanding — beginning of year 13,583,862 9,358,592 6,228,593 $ 3.11 $ 2.83 $ 3.11 Granted 4,857,500 4,590,000 3,190,000 0.59 2.61 2.47 Exercised (330,000 ) (287,143 ) (1,667 ) 2.14 2.05 1.83 Forfeited (1,176,737 ) — (24,333 ) 3.49 — 2.81 Expired (54,855 ) (77,587 ) (34,001 ) 8.03 5.58 8.18 Outstanding — end of year 16,879,770 13,583,862 9,358,592 2.36 3.11 2.83 Exercisable at end of year 10,867,920 8,020,162 4,901,511 $ 2.95 $ 3.45 $ 3.22 Weighted average fair value of stock options granted during the year: $ 0.43 $ 1.88 $ 1.80
Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Options and Warrants Activity	A summary of the Company's warrant activity and related information for the years ended December 31 are shown below. Warrants Weighted Average Exercise Price 2016 2015 2014 2016 2015 2014 Outstanding — beginning of year 7,225,472 7,349,760 8,324,609 $ 4.28 $ 4.27 $ 4.86 Granted 31,705,575 — 25,000 0.62 — 5.60 Exercised (56,358 ) (10,000 ) (340,527 ) 0.70 2.50 2.56 Forfeited — — — — — — Expired (6,371,899 ) (114,288 ) (659,322 ) 4.48 3.82 12.66 Outstanding — end of year 32,502,790 7,225,472 7,349,760 0.68 4.28 4.27 Exercisable at end of year 30,190,290 7,225,472 7,149,760 $ 0.67 $ 4.28 $ 4.32 Weighted average fair value of warrants granted during the year: $ 0.26 $ — $ 3.46
Significant Ranges of Outstanding Stock Options and Warrants	The following table summarizes additional information concerning warrants outstanding and exercisable at December 31, 2016: Warrants Outstanding Range of Exercise Prices Number of Shares Weighted Average Remaining Contractual Life (years) Weighted Average Exercise Price Number of Warrants Exercisable Weighted Average Contractual Life Weighted Average Exercise Price $ 0.43 — 1.50 31,015,071 1.29 $ 0.60 28,702,571 1.25 $ 0.58 $ 1.51 — 2.50 1,337,719 2.69 2.30 1,337,719 2.30 2.30 $ 2.51 — 4.00 125,000 1.86 3.75 125,000 1.86 3.75 $ 4.01 — 32.55 25,000 7.21 5.60 25,000 7.21 5.60 32,502,790 1.35 $ 0.68 30,190,290 1.35 $ 0.67

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Taxes [Abstract]
Deferred Tax Assets and Liabilities	The components of the Company's deferred tax assets and liabilities, all of which are long-term, are as follows (in thousands): December 31, 2016 2015 Deferred tax assets: Net operating loss carryforwards $ 126,244 $ 105,661 Tax credit carryforwards 29,970 27,671 Equipment, furnishings and other 9,297 10,547 Total deferred tax assets 165,511 143,879 Deferred tax liabilities (301 ) (270 ) Net deferred tax assets 165,210 143,609 Valuation allowance (165,210 ) (143,609 ) $ — $ —
Effective Income Tax Rate Reconciliation	The provision for income taxes differs from the provision computed by applying the Federal statutory rate to net loss before income taxes as follows (in thousands): Years ended December 31, 2016 2015 2014 Federal benefit at statutory rate $ (17,262 ) $ (19,919 ) $ (10,240 ) State income taxes, net of Federal taxes (3,086 ) (3,556 ) (2,773 ) State credits (1,031 ) (1,324 ) (990 ) Warrant liabilities (1,301 ) (1,509 ) (6,477 ) Other permanent differences 40 16 37 Provision related to change in valuation allowance 21,601 20,142 23,440 Current year tax credit (1,119 ) (2,050 ) (1,300 ) Return to provision 2,156 8,198 (1,504 ) Other, net 3 3 (192 ) $ 1 $ 1 $ 1

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	12 Months Ended
	Dec. 31, 2016
Earnings (Loss) Per Share [Abstract]
Earnings (Loss) Per Share, Basic and Diluted	A reconciliation of the amounts used to calculate basic and diluted earnings per share for the year ended December 31, 2016 follows (in thousands, except per share data): Net loss $ 50,771 Add: Series B convertible preferred stock deemed dividends 314 Net loss available to common shareholders – basic and diluted 51,085 Weighted-average common shares outstanding – basic and diluted 81.1 million Basic and diluted loss per share – common shareholders $ (0.63 )

Quarterly Financial Data (una37

Quarterly Financial Data (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Data (unaudited) [Abstract]
Quarterly Financial Information	Summarized quarterly financial data for 2016 and 2015 is as follows (in thousands, except per share data): Quarters Ended March 31 June 30 September 30 December 31 (In thousands, except per share data) 2016 Total revenues $ — $ 100 $ — $ 100 Net loss $ (12,643 ) $ (18,280 ) $ (12,175 ) $ (7,672 ) Basic and diluted loss per share applicable to common stock $ (0.19 ) $ (0.27 ) $ (0.13 ) $ (0.08 ) 2015 Total revenues $ — $ — $ — $ 100 Net income (loss) $ (17,525 ) $ (11,687 ) $ (7,073 ) $ (22,302 ) Basic and diluted income (loss) per share applicable to common stock $ (0.31 ) $ (0.21 ) $ (0.11 ) $ (0.34 )

Nature of Business (Details)

Nature of Business (Details)	12 Months Ended
	Dec. 31, 2016USD ($)PatientClinicalSiteCountry	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Nature of Business [Abstract]
Number of years Orphan Drug Designation provides several benefits of market exclusivity after approval	7 years
Number of years soft tissue sarcomas confers market among other benefits	10 years
Number of patients enrolled | Patient	433
Number of clinical sites | ClinicalSite	79
Number of countries | Country	15
Number of patients found to be statistically significant improvement in progression-free survival | Patient	246
Hazard ratio	0.62
Percentage of reduction in the risk of tumor progression	38.00%
Percentage of patients accounted to enrolled in the trial	57.00%
Number of patients treated | Patient	312
Percentage of total trial population	72.00%
Estimated Projected Expenditure Type [Line Items]
Number of years projected cash burn required to maintain	3 years
Projected cash burn	$ 10,000,000
Cash and cash equivalents	56,959,485	$ 22,261,372	$ 32,218,905	$ 11,483,112
Projected expenditures for clinical programs	39,800,000
Aldoxorubicin [Member]
Estimated Projected Expenditure Type [Line Items]
Projected expenditures for clinical programs	16,400,000
Albumin-Binding Cancer Drugs [Member]
Estimated Projected Expenditure Type [Line Items]
Projected expenditures for clinical programs	3,700,000
General Operation [Member]
Estimated Projected Expenditure Type [Line Items]
Projected expenditures for clinical programs	3,200,000
Other General and Administrative Expenses [Member]
Estimated Projected Expenditure Type [Line Items]
Projected expenditures for clinical programs	8,000,000
Interest and Principal Payments [Member]
Estimated Projected Expenditure Type [Line Items]
Projected expenditures for clinical programs	$ 8,500,000

Summary of Significant Accoun39

Summary of Significant Accounting Policies (Details) - USD ($) shares in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Summary of Significant Accounting Policies [Abstract]
Foreign exchange gain	$ 200,000		$ 100,000
Changes in carrying amounts of warrant liabilities [Abstract]
Beginning balance	693,457	$ 5,131,000
Issued	6,933,000	0
Exercised	(9,000)	0
Net changes in valuation	(3,828,000)	(4,438,000)
Ending balance	$ 3,789,391	$ 693,457	$ 5,131,000
Antidilutive securities excluded from computation of earning per share amount (in shares)	50	21.4	17.4
Recurring [Member]
Fair value measurements by level for assets and liabilities measured at fair value on a recurring basis
Cash equivalents	$ 56,276,000	$ 20,673,000
Short-term investments		35,035,000
Warrant liabilities	$ (3,789,000)	(693,000)
Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	3 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	5 years
Level I [Member] | Recurring [Member]
Fair value measurements by level for assets and liabilities measured at fair value on a recurring basis
Cash equivalents	$ 56,276,000	20,673,000
Short-term investments		35,035,000
Warrant liabilities	0	0
Level II [Member] | Recurring [Member]
Fair value measurements by level for assets and liabilities measured at fair value on a recurring basis
Cash equivalents	0	0
Short-term investments		0
Warrant liabilities	0	0
Level III [Member] | Recurring [Member]
Fair value measurements by level for assets and liabilities measured at fair value on a recurring basis
Cash equivalents	0	0
Short-term investments		0
Warrant liabilities	$ (3,789,000)	$ (693,000)

Foreign Currency Remeasurement

Foreign Currency Remeasurement (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Foreign Currency Remeasurement [Abstract]
Gain (loss) on foreign currency translation adjustment	$ (18,000)	$ (6,000)	$ (7,000)

Receivables (Details)

Receivables (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Receivables [Abstract]
Receivables	$ 183,703	$ 4,593,475

Prepaid and Other Assets (Detai

Prepaid and Other Assets (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Prepaid and Other Assets [Abstract]
Prepaid and other assets	$ 3,434,238	$ 2,373,708

Short-term Investments (Details

Short-term Investments (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Short-term Investments [Abstract]
Short-term investments	$ 0	$ 35,035,420

Equipment and Furnishings (Deta

Equipment and Furnishings (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Equipment and Furnishings [Abstract]
Equipment and furnishings	$ 2,811,000	$ 1,843,000
Less - accumulated depreciation	(851,000)	(375,000)
Equipment and furnishings, net	1,959,667	1,467,681
Depreciation and amortization	$ 536,631	$ 317,649	$ 182,927

Accrued Expenses and Other Cu45

Accrued Expenses and Other Current Liabilities (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Accounts Payable and Accrued Liabilities, Current [Abstract]
Professional fees	$ 193,000	$ 5,459,000
Research and development costs	2,208,000	2,625,000
Litigation settlement	700,000	1,000,000
Wages, bonuses and employee benefits	487,000	527,000
Other	242,000	82,000
Total	$ 3,830,498	$ 9,693,359

Non-Cash Litigation Settlemen46

Non-Cash Litigation Settlement Due in Shares of Common Stock (Details) - USD ($)	Dec. 31, 2016	Jul. 20, 2016	May 25, 2016	Dec. 31, 2015
Loss Contingencies [Line Items]
Litigation settlement due in shares	$ 0			$ 4,500,000
Common stock issued for litigation settlement (in shares)		28,571,429	1,561,578
Litigation Settlement due in Shares of Common [Member]
Loss Contingencies [Line Items]
Litigation settlement due in shares				$ 4,500,000

Term Loan (Details)

Term Loan (Details) - USD ($)	Feb. 08, 2016	Feb. 05, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Amount received under initial loan agreement			$ 24,012,078	$ 0	$ 0
Interest expense			2,754,677	0	0
Term Loan Principal - Current			6,214,000
Loan Discount & Issuance Cost - Current			(732,000)
Term Loan, Net - Current			5,481,656	0
Term Loan Principal			18,786,000
End Fee Payable			1,772,000
Long Term Loan Discount & Issuance Cost			(2,073,000)
Long Term Loan, Net			18,484,510	0
Future principal payments of term loan [Abstract]
2,017			6,214,000
2,018			8,151,000
2,019			8,995,000
2,020			1,640,000
Total term loan			$ 25,000,000
Hercules Technology Growth Capital, Inc. and Hercules Technology III, L.P. [Member]
Debt Instrument [Line Items]
Amount received under initial loan agreement	$ 25,000,000
Debt instrument, interest rate		9.75%	9.75%
Debt instrument, minimum cash balance required to be maintained		$ 10,000,000
Debt instrument, maturity date			Feb. 1, 2020
Interest expense			$ 2,800,000	$ 0	$ 0
Hercules Technology Growth Capital, Inc. and Hercules Technology III, L.P. [Member] | Prime Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		6.00%

Warrant Liabilities (Details)

Warrant Liabilities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Gain (Loss) on warrant liabilities	$ 3,827,617	$ 4,437,628	$ 19,051,239
Warrants issued (in shares)	28,600,000
Exercised (in shares)	56,358
Warrant [Member]
Derivative [Line Items]
Risk-free interest rate	0.90%	0.57%	0.46%
Expected dividend yield	0.00%	0.00%	0.00%
Expected lives	1 year 2 months 23 days	7 months 2 days	1 year 7 months 2 days
Expected volatility	119.10%	61.70%	89.70%
Number of warrants classified as liabilities (in shares)	28,515,071	6,371,854	6,371,854
Gain (Loss) on warrant liabilities	$ 3,827,617	$ 4,437,628	$ 19,051,239
Exercised (in shares)	56,358

Commitments and Contingencies49

Commitments and Contingencies (Details)		12 Months Ended
		Dec. 31, 2016USD ($)Complaint	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Operating Leases [Abstract]
2,017	[1]	$ 397,000
2,018	[1]	373,000
2,019	[1]	278,000
2,020	[1]	59,000
2,021	[1]	0
Thereafter	[1]	0
Total	[1]	1,107,000
Employment Agreements [Abstract]
2,017	[2]	3,257,000
2,018	[2]	1,682,000
2,019	[2]	1,057,000
2,020	[2]	1,057,000
2,021	[2]	1,057,000
Thereafter	[2]	0
Total	[2]	8,110,000
Research and Development [Abstract]
2,017	[3]	19,325,000
2,018	[3]	47,000
2,019	[3]	37,000
2,020	[3]	0
2,021	[3]	0
Thereafter	[3]	0
Total	[3]	19,409,000
Total [Abstract]
2,017		22,979,000
2,018		2,102,000
2,019		1,372,000
2,020		1,116,000
2,021		1,057,000
Thereafter		0
Total		28,626,000
Lease expense		358,247	$ 351,075	$ 335,991
Loss Contingencies [Line Items]
Potential future payments		7,500,000
Issuance of common stock		$ 111,321	$ 66,480
Number of competing derivative complaints | Complaint		2
Litigation settlement		$ 700,000
Aldoxorubicin [Member]
Loss Contingencies [Line Items]
Issuance of common stock		$ 18,300,000
[1]	Operating leases are primarily facility lease related obligations, as well as equipment lease obligations with third party vendors. The Company recognized rent expenses of $358,247, $351,075, and $335,991 in 2016, 2015 and 2014, respectively.
[2]	Employment agreements include management contracts which have been revised from time to time. The employment agreement for the Company's executive officers provide for minimum salaries, which are adjusted annually at the discretion of the Company's Compensation Committee, and in some cases provide for minimum annual bonuses and employee benefits, as well. New employment agreements for the Company's other executive officers are usually entered into annually or biennially.
[3]	Research and development obligations relate primarily to clinical trials. All of these purchase obligations are cancelable.

Equity Transactions (Details)

Equity Transactions (Details) - USD ($)	Jul. 20, 2016	Oct. 26, 2015	Jul. 24, 2015	Mar. 15, 2014	Feb. 05, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 16, 2016	Dec. 15, 2016	May 25, 2016	Dec. 31, 2013
Class of Stock [Line Items]
Authorized but unissued shares of common stock (in shares)						12,000,000
Number of treasury stock retired (in shares)		199,275
Number of treasury stock retired, value		$ (2,600,000)					$ 0
Stock issued, underwritten public offering, value			$ 28,700,000		$ 86,000,000	$ 25,777,257	$ 26,780,068	$ 80,535,401
Stock issued, underwritten public offering, value (in shares)			10,500,000		13,200,000
Common stock per share value (in dollars per share)			$ 2.75		$ 6.50
Net proceeds from the issuance of common stock			$ 26,800,000		$ 80,500,000
Common stock shares outstanding (in shares)					55,300,000	111,322,895	66,480,065
Common stock shares issued (in shares)						111,322,895	66,480,065		11,540,741
Preferred stock, shares issued (in shares)						0	0
Number of warrants repriced (in shares)									19,397,884
Warrants exercise price (in dollars per share)						$ 30			$ 0.51	$ 0.70
Beneficial conversion feature - Series B preferred stock						$ 0
Common stock issued for litigation settlement (in shares)	28,571,429										1,561,578
Warrants exercised period	1 year
Series B Convertible Preferred Shares [Member]
Class of Stock [Line Items]
Preferred stock, shares issued (in shares)						3,300	0
Preferred stock, stated value						$ 1,000	$ 1,000
Preferred stock, conversion value (in dollars per share)						$ 0.42	$ 0.42
Preferred Stock [Member] | Series B Convertible Preferred Shares [Member]
Class of Stock [Line Items]
Number of treasury stock retired (in shares)							0
Number of treasury stock retired, value							$ 0
Stock issued, underwritten public offering, value						$ 3,300,000	$ 0	$ 0
Stock issued, underwritten public offering, value (in shares)						3,300	0	0
Common stock shares outstanding (in shares)						3,108	0	0				0
Preferred stock, shares issued (in shares)									3,300
Preferred stock, stated value									$ 1,000
Number of preferred shares converted (in shares)						(192)
Preferred stock, conversion value (in dollars per share)						$ 0.42
Beneficial conversion feature - Series B preferred stock						$ 314,286
Common Stock [Member]
Class of Stock [Line Items]
Number of treasury stock retired (in shares)							199,275
Number of treasury stock retired, value							$ 199
Stock issued, underwritten public offering, value						$ 40,112	$ 10,465	$ 13,225
Stock issued, underwritten public offering, value (in shares)						40,112,170	10,465,000	13,225,000
Common stock shares outstanding (in shares)						111,322,895	66,480,065	55,921,986				42,116,964
Number of preferred shares converted (in shares)						457,143
Beneficial conversion feature - Series B preferred stock						$ 0
Employee Stock Option [Member]
Class of Stock [Line Items]
Stock issued during period (in shares)						330,000
Restricted Stock [Member]
Class of Stock [Line Items]
Stock issued during period (in shares)						2,325,581
KTB Tumorforschungs GmbH [Member]
Class of Stock [Line Items]
Stock issued (in shares)				200,000
Fair value of shares issued				$ 800,000

Stock Options and Equity-Clas51

Stock Options and Equity-Classified Warrants (Details) - USD ($)	Feb. 29, 2016	Dec. 20, 2013	Dec. 10, 2013	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2016	Jun. 02, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding (in shares)								2,095,000
Share-based compensation arrangement by share-based payment award, fair value assumptions and methodology [Abstract]
Vesting period				3 years
Average vesting period				6 years
Number of Options (Employees and Non-Employees) [Abstract]
Exercised (in shares)				56,358
Weighted-Average Exercise Price Options [Abstract]
Exercised (in dollars per share)		$ 4.66	$ 2.39
Issuance of stock options to certain consultants in exchange for services				$ 77,967	$ 61,480
Employees [Member]
Share-based compensation arrangement by share-based payment award, fair value assumptions and methodology [Abstract]
Estimated annualized forfeiture rate				10.00%	10.00%	10.00%
Employees [Member] | Maximum [Member]
Share-based compensation arrangement by share-based payment award, fair value assumptions and methodology [Abstract]
Expected lives				10 years
Non-employees [Member]
Share-based compensation arrangement by share-based payment award, fair value assumptions and methodology [Abstract]
Unrecognized compensation expense related to unvested stock options, granted							$ 0
Weighted-Average Exercise Price Options [Abstract]
Issuance of stock options to certain consultants in exchange for services				$ 0	$ 0	$ 1,276,000
Senior Management [Member]
Share-based compensation arrangement by share-based payment award, fair value assumptions and methodology [Abstract]
Estimated annualized forfeiture rate				2.00%	2.00%	2.00%
Employees and Directors [Member]
Share-based compensation arrangement by share-based payment award, fair value assumptions and methodology [Abstract]
Unrecognized compensation expense related to unvested stock options, granted							$ 4,100,000
Unrecognized compensation cost, recognized as expense over a weighted-average period				1 year 2 months 26 days
Directors [Member]
Share-based compensation arrangement by share-based payment award, fair value assumptions and methodology [Abstract]
Estimated annualized forfeiture rate				0.00%	0.00%	0.00%
Stock Options [Member] | Employees [Member]
Share-based compensation arrangement by share-based payment award, fair value assumptions and methodology [Abstract]
Share based compensation arrangement by share-based payment award fair value assumptions method used				Black-Scholes option-pricing model
Expected dividend yield				0.00%	0.00%	0.00%
Stock Options [Member] | Employees [Member] | Minimum [Member]
Share-based compensation arrangement by share-based payment award, fair value assumptions and methodology [Abstract]
Risk-free interest rate				1.20%	1.74%	1.74%
Expected volatility				74.00%	74.00%	82.00%
Expected lives				6 years	6 years	6 years
Stock Options [Member] | Employees [Member] | Maximum [Member]
Share-based compensation arrangement by share-based payment award, fair value assumptions and methodology [Abstract]
Risk-free interest rate				2.26%	2.42%	2.12%
Expected volatility				88.00%	85.00%	90.00%
Expected lives				10 years	10 years	10 years
Stock Options [Member] | Non-employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding (in shares)				635,714	635,714	167,143	600,000		692,143
Share-based compensation arrangement by share-based payment award, fair value assumptions and methodology [Abstract]
Share based compensation arrangement by share-based payment award fair value assumptions method used					Black-Scholes option-pricing model
Risk-free interest rate				0.00%	0.00%	2.23%
Expected volatility				0.00%	0.00%	85.00%
Expected lives				0 years	0 years	10 years
Expected dividend yield				0.00%	0.00%	0.00%
Number of Options (Employees and Non-Employees) [Abstract]
Outstanding - beginning of year (in shares)				635,714	692,143	167,143
Granted (in shares)				0	0	550,000
Exercised (in shares)				0	0	0
Expired/Forfeited (in shares)				(35,714)	(56,429)	(25,000)
Outstanding - end of year (in shares)				600,000	635,714	692,143
Exercisable at end of year (in shares)				600,000	635,714	692,143
Weighted average fair value of stock options granted during the year (in dollars per share)				$ 0	$ 0	$ 1.98
Weighted-Average Exercise Price Options [Abstract]
Outstanding - beginning of year (in dollars per share)				3.02	3.47	5.69
Granted (in dollars per share)				0	0	2.76
Exercised (in dollars per share)				0	0	0
Expired/Forfeited (in dollars per share)				7.77	8.54	2.79
Outstanding - end of year (in dollars per share)				2.73	3.02	3.47
Exercisable at end of year (in dollars per share)				$ 2.73	$ 3.02	$ 3.47
Stock Options [Member] | Employees and Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding (in shares)				13,583,862	13,583,862	6,228,593	16,879,770		9,358,592
Number of Options (Employees and Non-Employees) [Abstract]
Outstanding - beginning of year (in shares)				13,583,862	9,358,592	6,228,593
Granted (in shares)				4,857,500	4,590,000	3,190,000
Exercised (in shares)				(330,000)	(287,143)	(1,667)
Expired/Forfeited (in shares)				(1,176,737)	0	(24,333)
Exercised, forfeited or expired (in shares)				(54,855)	(77,587)	(34,001)
Outstanding - end of year (in shares)				16,879,770	13,583,862	9,358,592
Exercisable at end of year (in shares)				10,867,920	8,020,162	4,901,511
Weighted average fair value of stock options granted during the year (in dollars per share)				$ 0.43	$ 1.88	$ 1.80
Weighted-Average Exercise Price Options [Abstract]
Outstanding - beginning of year (in dollars per share)				3.11	2.83	3.11
Granted (in dollars per share)				0.59	2.61	2.47
Exercised (in dollars per share)				2.14	2.05	1.83
Expired/Forfeited (in dollars per share)				3.49	0	2.81
Expired (in dollars per share)				8.03	5.58	8.18
Outstanding - end of year (in dollars per share)				2.36	3.11	2.83
Exercisable at end of year (in dollars per share)				$ 2.95	$ 3.45	$ 3.22
Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding (in shares)				7,225,472	7,349,760	7,349,760	32,502,790		7,349,760
Number of Options (Employees and Non-Employees) [Abstract]
Outstanding - beginning of year (in shares)				7,225,472	7,349,760	8,324,609
Granted (in shares)				31,705,575	0	25,000
Exercised (in shares)				(56,358)	(10,000)	(340,527)
Expired/Forfeited (in shares)				0	0	0
Exercised, forfeited or expired (in shares)				(6,371,899)	(114,288)	(659,322)
Outstanding - end of year (in shares)				32,502,790	7,225,472	7,349,760
Exercisable at end of year (in shares)				30,190,290	7,225,472	7,149,760
Weighted average fair value of stock options granted during the year (in dollars per share)				$ 0.26	$ 0	$ 3.46
Weighted-Average Exercise Price Options [Abstract]
Outstanding - beginning of year (in dollars per share)				4.28	4.27	4.86
Granted (in dollars per share)				0.62	0	5.60
Exercised (in dollars per share)				0.70	2.50	2.56
Expired/Forfeited (in dollars per share)				0	0	0
Expired (in dollars per share)				4.48	3.82	12.66
Outstanding - end of year (in dollars per share)				0.68	4.28	4.27
Exercisable at end of year (in dollars per share)				$ 0.67	$ 4.28	$ 4.32
Issuance of stock options to certain consultants in exchange for services	$ 157,797
Restricted Stock [Member]
Share-based compensation arrangement by share-based payment award, fair value assumptions and methodology [Abstract]
Share based compensation arranged by share based payment award restricted stock granted (in shares)					0
Restricted Stock [Member] | Chief Executive Officer [Member]
Share-based compensation arrangement by share-based payment award, fair value assumptions and methodology [Abstract]
Vesting period				3 years
Share based compensation arranged by share based payment award restricted stock granted (in shares)				2,325,581
Share based compensation of fair value of the restricted stock on the grant				$ 1,000,000
2000 Long Term Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)							1,400,000
Expiration date				Aug. 6, 2010
Share-based compensation, shares available for future grant (in shares)							0
Options outstanding (in shares)				500,000			500,000
Number of Options (Employees and Non-Employees) [Abstract]
Outstanding - end of year (in shares)				500,000
2008 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)							30,000,000
Share-based compensation, shares available for future grant (in shares)							12,000,000
Options outstanding (in shares)				17,100,000			17,100,000
Number of Options (Employees and Non-Employees) [Abstract]
Granted (in shares)						100,000
Outstanding - end of year (in shares)				17,100,000
2008 Stock Incentive Plan [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, outstanding stock options (in shares)							2,300,000
2008 Stock Incentive Plan [Member] | Restricted Stock [Member] | Senior Management [Member]
Weighted-Average Exercise Price Options [Abstract]
Value of restricted shares issued									$ 626,900

Stock Options and Equity-Clas52

Stock Options and Equity-Classified Warrants, Schedule of Employee and Non Employee Service Share Based Compensation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Employees [Member]
Total stock-based compensation expense resulting from stock options and warrants [Abstract]
Allocated employee and non-employee stock-based compensation expense, Total	$ 6,484,303	$ 7,158,804	$ 3,316,106
Non-Employees [Member]
Total stock-based compensation expense resulting from stock options and warrants [Abstract]
Allocated employee and non-employee stock-based compensation expense, Total	235,764	225,852	1,823,242
Research and Development Expense [Member] | Employees [Member]
Total stock-based compensation expense resulting from stock options and warrants [Abstract]
Allocated employee and non-employee stock-based compensation expense, Total	1,822,508	1,590,267	932,482
Research and Development Expense [Member] | Non-Employees [Member]
Total stock-based compensation expense resulting from stock options and warrants [Abstract]
Allocated employee and non-employee stock-based compensation expense, Total	0	0	86,539
General and Administrative Expense [Member] | Employees [Member]
Total stock-based compensation expense resulting from stock options and warrants [Abstract]
Allocated employee and non-employee stock-based compensation expense, Total	4,661,795	5,568,537	2,383,624
General and Administrative Expense [Member] | Non-Employees [Member]
Total stock-based compensation expense resulting from stock options and warrants [Abstract]
Allocated employee and non-employee stock-based compensation expense, Total	$ 235,764	$ 225,852	$ 1,736,703

Stock Options and Equity-Clas53

Stock Options and Equity-Classified Warrants, Options by Exercise Price Range (Details)	12 Months Ended
	Dec. 31, 2016$ / sharesshares
Stock Options [Member]
Share based compensation, shares authorized under significant ranges of outstanding stock option plans in period [Abstract]
Number of Options (in shares) | shares	17,479,770
Weighted-Average Remaining Contractual Life	8 years 14 days
Weighted-Average Exercise Price (in dollars per share)	$ 2.37
Number of Options Exercisable (in shares) | shares	11,467,920
Weighted-Average Contractual Life	7 years 3 months 29 days
Weighted-Average Exercise Price, Options Exercisable (in dollars per share)	$ 2.93
Warrants [Member]
Share based compensation, shares authorized under significant ranges of outstanding stock option plans in period [Abstract]
Number of Options (in shares) | shares	32,502,790
Weighted-Average Remaining Contractual Life	1 year 4 months 6 days
Weighted-Average Exercise Price (in dollars per share)	$ 0.68
Number of Options Exercisable (in shares) | shares	30,190,290
Weighted-Average Contractual Life	1 year 4 months 6 days
Weighted-Average Exercise Price, Options Exercisable (in dollars per share)	$ 0.67
Range $ 0.43 - 1.50 [Member] | Stock Options [Member]
Share based compensation, shares authorized under significant ranges of outstanding stock option plans in period [Abstract]
Range of Exercise Prices, Lower Range (in dollars per share)	0.43
Range of Exercise Prices, Upper Range (in dollars per share)	$ 1.50
Number of Options (in shares) | shares	4,432,498
Weighted-Average Remaining Contractual Life	9 years 11 months 12 days
Weighted-Average Exercise Price (in dollars per share)	$ 0.44
Number of Options Exercisable (in shares) | shares	1,086,696
Weighted-Average Contractual Life	9 years 11 months 12 days
Weighted-Average Exercise Price, Options Exercisable (in dollars per share)	$ 0.45
Range $ 0.43 - 1.50 [Member] | Warrants [Member]
Share based compensation, shares authorized under significant ranges of outstanding stock option plans in period [Abstract]
Range of Exercise Prices, Lower Range (in dollars per share)	0.43
Range of Exercise Prices, Upper Range (in dollars per share)	$ 1.50
Number of Options (in shares) | shares	31,015,071
Weighted-Average Remaining Contractual Life	1 year 3 months 14 days
Weighted-Average Exercise Price (in dollars per share)	$ 0.60
Number of Options Exercisable (in shares) | shares	28,702,571
Weighted-Average Contractual Life	1 year 3 months
Weighted-Average Exercise Price, Options Exercisable (in dollars per share)	$ 0.58
Range $ 1.51 - 2.50 [Member] | Stock Options [Member]
Share based compensation, shares authorized under significant ranges of outstanding stock option plans in period [Abstract]
Range of Exercise Prices, Lower Range (in dollars per share)	1.51
Range of Exercise Prices, Upper Range (in dollars per share)	$ 2.50
Number of Options (in shares) | shares	8,932,606
Weighted-Average Remaining Contractual Life	7 years 10 months 6 days
Weighted-Average Exercise Price (in dollars per share)	$ 2.26
Number of Options Exercisable (in shares) | shares	6,293,224
Weighted-Average Contractual Life	7 years 5 months 26 days
Weighted-Average Exercise Price, Options Exercisable (in dollars per share)	$ 2.22
Range $ 1.51 - 2.50 [Member] | Warrants [Member]
Share based compensation, shares authorized under significant ranges of outstanding stock option plans in period [Abstract]
Range of Exercise Prices, Lower Range (in dollars per share)	1.51
Range of Exercise Prices, Upper Range (in dollars per share)	$ 2.50
Number of Options (in shares) | shares	1,337,719
Weighted-Average Remaining Contractual Life	2 years 8 months 8 days
Weighted-Average Exercise Price (in dollars per share)	$ 2.30
Number of Options Exercisable (in shares) | shares	1,337,719
Weighted-Average Contractual Life	2 years 3 months 18 days
Weighted-Average Exercise Price, Options Exercisable (in dollars per share)	$ 2.30
Range $ 2.51 - 4.00 [Member] | Stock Options [Member]
Share based compensation, shares authorized under significant ranges of outstanding stock option plans in period [Abstract]
Range of Exercise Prices, Lower Range (in dollars per share)	2.51
Range of Exercise Prices, Upper Range (in dollars per share)	$ 4
Number of Options (in shares) | shares	960,670
Weighted-Average Remaining Contractual Life	7 years 1 month 17 days
Weighted-Average Exercise Price (in dollars per share)	$ 2.88
Number of Options Exercisable (in shares) | shares	934,004
Weighted-Average Contractual Life	7 years 1 month 6 days
Weighted-Average Exercise Price, Options Exercisable (in dollars per share)	$ 2.87
Range $ 2.51 - 4.00 [Member] | Warrants [Member]
Share based compensation, shares authorized under significant ranges of outstanding stock option plans in period [Abstract]
Range of Exercise Prices, Lower Range (in dollars per share)	2.51
Range of Exercise Prices, Upper Range (in dollars per share)	$ 4
Number of Options (in shares) | shares	125,000
Weighted-Average Remaining Contractual Life	1 year 10 months 10 days
Weighted-Average Exercise Price (in dollars per share)	$ 3.75
Number of Options Exercisable (in shares) | shares	125,000
Weighted-Average Contractual Life	1 year 10 months 10 days
Weighted-Average Exercise Price, Options Exercisable (in dollars per share)	$ 3.75
Range $ 4.01 - 32.55 [Member] | Stock Options [Member]
Share based compensation, shares authorized under significant ranges of outstanding stock option plans in period [Abstract]
Range of Exercise Prices, Lower Range (in dollars per share)	4.01
Range of Exercise Prices, Upper Range (in dollars per share)	$ 32.55
Number of Options (in shares) | shares	3,153,996
Weighted-Average Remaining Contractual Life	6 years 2 months 1 day
Weighted-Average Exercise Price (in dollars per share)	$ 5.24
Number of Options Exercisable (in shares) | shares	3,153,996
Weighted-Average Contractual Life	6 years 2 months 1 day
Weighted-Average Exercise Price, Options Exercisable (in dollars per share)	$ 5.24
Range $ 4.01 - 32.55 [Member] | Warrants [Member]
Share based compensation, shares authorized under significant ranges of outstanding stock option plans in period [Abstract]
Range of Exercise Prices, Lower Range (in dollars per share)	4.01
Range of Exercise Prices, Upper Range (in dollars per share)	$ 32.55
Number of Options (in shares) | shares	25,000
Weighted-Average Remaining Contractual Life	7 years 2 months 16 days
Weighted-Average Exercise Price (in dollars per share)	$ 5.60
Number of Options Exercisable (in shares) | shares	25,000
Weighted-Average Contractual Life	7 years 2 months 16 days
Weighted-Average Exercise Price, Options Exercisable (in dollars per share)	$ 5.60

Stock Options and Equity-Clas54

Stock Options and Equity-Classified Warrants, Warrants, Shares Purchased and Intrinsic Value (Details) - USD ($)	Feb. 29, 2016	Nov. 30, 2013	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 16, 2016	Dec. 15, 2016	Feb. 05, 2016	Mar. 31, 2014
Share based compensation, shares authorized under significant ranges of outstanding stock option plans in period [Abstract]
Aggregate intrinsic value of outstanding options			$ 0
Aggregate intrinsic value of options vested			0
Aggregate intrinsic value of options exercised			$ 0
Warrants exercise price (in dollars per share)			$ 30			$ 0.51	$ 0.70
Non-employee stock-based compensation expenses			$ 77,967	$ 61,480
Restricted stock expense			$ 15,000	$ 0	$ 6,269,000
Vesting period			3 years
Consultant [Member]
Share based compensation, shares authorized under significant ranges of outstanding stock option plans in period [Abstract]
Contingent warrant period			1 year
Warrants exercise price (in dollars per share)			$ 0.70
Warrants term extension period			18 months
Number of warrants issued (in shares)			2,000,000
Warrants [Member]
Share based compensation, shares authorized under significant ranges of outstanding stock option plans in period [Abstract]
Warrants exercise price (in dollars per share)	$ 1.74
Number of warrants issued (in shares)	500,000
Non-employee stock-based compensation expenses	$ 157,797
Warrants [Member] | Hercules Technology Growth Capital, Inc. and Hercules Technology III, L.P. [Member]
Share based compensation, shares authorized under significant ranges of outstanding stock option plans in period [Abstract]
Warrants exercise price (in dollars per share)								$ 2.05
Number of warrants issued (in shares)								634,146
Fair value of warrants classified as equity warrants			$ 633,749
Warrants One [Member]
Share based compensation, shares authorized under significant ranges of outstanding stock option plans in period [Abstract]
Number of shares purchased (in shares)		250,000
Vesting period		3 years
Warrants Two [Member]
Share based compensation, shares authorized under significant ranges of outstanding stock option plans in period [Abstract]
Warrants exercise price (in dollars per share)									$ 5.60
Number of shares purchased (in shares)									25,000
Cashless Exercise [Member]
Share based compensation, shares authorized under significant ranges of outstanding stock option plans in period [Abstract]
Number of warrants issued (in shares)			0	10,000

Stockholder Protection Rights55

Stockholder Protection Rights Plan (Details)	12 Months Ended
	Dec. 31, 2016Right$ / shares	Dec. 16, 2016$ / shares	Dec. 15, 2016$ / shares
Stockholder Protection Rights Plan [Abstract]
Number of right for each outstanding share | Right	1
Proportion of right entitles to purchase series A preferred stock	0.0001
Exercise price of warrants (in dollars per share) | $ / shares	$ 30	$ 0.51	$ 0.70
Number of business days after announcement rights are not exercisable for certain persons	10 days
Beneficial ownership percentage of company outstanding shares of common stock by acquiring person	15.00%
Percentage of company outstanding shares of common stock by acquiring person	50.00%

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating Loss Carryforwards [Line Items]
Deferred tax valuation allowance has been recorded against these assets	100.00%
Tax Credit Carryforward [Line Items]
Tax credit carryforwards, alternative minimum tax	$ 21,200,000
Deferred tax assets [Abstract]
Net operating loss carryforwards	126,244,000	$ 105,661,000
Tax credit carryforwards	29,970,000	27,671,000
Equipment, furnishings and other	9,297,000	10,547,000
Total deferred tax assets	165,511,000	143,879,000
Deferred tax liabilities	(301,000)	(270,000)
Net deferred tax assets	165,210,000	143,609,000
Valuation allowance	(165,210,000)	(143,609,000)
Deferred tax assets, net of valuation allowance	0	0
Net change in valuation allowance	21,400,000	20,100,000
Federal statutory rate to net loss before income taxes [Abstract]
Federal benefit at statutory rate	(17,262,000)	(19,919,000)	$ (10,240,000)
State income taxes, net of Federal taxes	(3,086,000)	(3,556,000)	(2,773,000)
State credits	(1,031,000)	(1,324,000)	(990,000)
Warranty liabilities	(1,301,000)	(1,509,000)	(6,477,000)
Other permanent differences	40,000	16,000	37,000
Provision related to change in valuation allowance	21,601,000	20,142,000	23,440,000
Current year tax credit	(1,119,000)	(2,050,000)	(1,300,000)
Return to provision	2,156,000	8,198,000	(1,504,000)
Other, net	3,000	3,000	(192,000)
Provision for income taxes	800	800	800
Change in unrecognized tax benefits	0
Unrecognized tax benefits accrued interest or penalties	$ 0	$ 0	$ 0
Earliest Tax Year [Member]
Operating Loss Carryforwards [Line Items]
Expiration Date	Dec. 31, 2022
Latest Tax Year [Member]
Operating Loss Carryforwards [Line Items]
Expiration Date	Dec. 31, 2036
Research Tax Credit Carryforward [Member]
Tax Credit Carryforward [Line Items]
Tax credit carryforward	$ 16,000,000
Federal [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	333,500,000
Federal [Member] | Restricted [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	62,300,000
Federal [Member] | Unrestricted [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	271,200,000
State [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 224,000,000

Earnings (Loss) Per Share (Deta

Earnings (Loss) Per Share (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Earnings (Loss) Per Share [Abstract]
Net loss	$ 7,672,000	$ 12,175,000	$ 18,280,000	$ 12,643,000	$ 22,302,000	$ 7,073,000	$ 11,687,000	$ 17,525,000	$ 50,771,221	$ 58,587,190	$ 30,117,980
Add: Series B convertible preferred stock deemed dividends									314,000
Net loss available to common shareholders - basic and diluted									$ 51,085,000
Weighted average number of shares outstanding, basic and diluted (in shares)									81,063,772	60,483,151	54,371,151
Basic and diluted net loss per share (in dollars per share)	$ (0.08)	$ (0.13)	$ (0.27)	$ (0.19)	$ (0.34)	$ (0.11)	$ (0.21)	$ (0.31)	$ (0.63)	$ (0.97)	$ (0.55)

Quarterly Financial Data (una58

Quarterly Financial Data (unaudited) (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Data [Abstract]
Total revenues	$ 100,000	$ 0	$ 100,000	$ 0	$ 100,000	$ 0	$ 0	$ 0
Net income (loss)	$ (7,672,000)	$ (12,175,000)	$ (18,280,000)	$ (12,643,000)	$ (22,302,000)	$ (7,073,000)	$ (11,687,000)	$ (17,525,000)	$ (50,771,221)	$ (58,587,190)	$ (30,117,980)
Basic and diluted income (loss) per share applicable to common stock (in dollars per share)	$ (0.08)	$ (0.13)	$ (0.27)	$ (0.19)	$ (0.34)	$ (0.11)	$ (0.21)	$ (0.31)	$ (0.63)	$ (0.97)	$ (0.55)

Subsequent Event (Details)

Subsequent Event (Details) - shares	2 Months Ended	12 Months Ended
	Feb. 28, 2017	Dec. 31, 2016
Common Stock [Member]
Subsequent Event [Line Items]
Number of preferred shares converted (in shares)		457,143
Subsequent Event [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Number of preferred shares converted (in shares)	6,000,000
Subsequent Event [Member] | Series B Preferred Stock [Member]
Subsequent Event [Line Items]
Number of preferred shares converted (in shares)	2,520

SCHEDULE II - VALUATION AND Q60

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - Allowance for Deferred Tax Assets [Member] - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 143,609,000	$ 123,466,000	$ 100,026,000
Additions Charged to Costs and Expenses	0	0	0
Additions Charged to Other Accounts	21,601,000	20,143,000	23,440,000
Deductions	0	0	0
Balance at End of Year	$ 165,210,000	$ 143,609,000	$ 123,466,000