CASI Pharmaceuticals (CASI) 10-Q 14 Aug 15 2015 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 07, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Entity Registrant Name	CASI Pharmaceuticals, Inc.
Entity Central Index Key	895,051
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	CASI
Entity Common Stock, Shares Outstanding		32,445,811

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 7,953,821	$ 10,669,919
Accounts receivable, net of allowance for doubtful accounts of $0 at June 30, 2015 and $12,536 at December 31, 2014	23,994	23,727
Prepaid expenses and other	308,512	328,150
Total current assets	8,286,327	11,021,796
Property and equipment, net	245,281	261,781
Other assets	46,635	26,011
Total assets	8,578,243	11,309,588
Current liabilities:
Accounts payable	969,035	754,628
Accrued liabilities	181,718	164,420
Note payable, net of discount	1,435,315	0
Total current liabilities	2,586,068	919,048
Note payable, net of discount	0	1,390,015
Contingent rights derivative liability	9,441,079	9,422,735
Total liabilities	$ 12,027,147	$ 11,731,798
Commitments and contingencies
Stockholders' deficit:
Convertible preferred stock, $1.00 par value; 5,000,000 shares authorized and 0 shares issued and outstanding at June 30, 2015 and December 31, 2014	$ 0	$ 0
Common stock, $.01 par value: 170,000,000 shares authorized; 32,525,356 shares issued	325,252	325,252
Additional paid-in capital	433,430,824	432,558,698
Treasury stock, at cost: 79,545 shares held	(8,034,244)	(8,034,244)
Accumulated deficit	(429,170,736)	(425,271,916)
Total stockholders' deficit	(3,448,904)	(422,210)
Total liabilities and stockholders' deficit	$ 8,578,243	$ 11,309,588

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets [Parenthetical] - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Allowance for Doubtful Accounts Receivable, Current	$ 0	$ 12,536
Convertible preferred stock, par value (in dollars per share)	$ 1	$ 1
Convertible preferred stock, shares authorized	5,000,000	5,000,000
Convertible preferred stock, shares issued	0	0
Convertible preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	170,000,000	170,000,000
Common stock, shares issued	32,525,356	32,525,356
Treasury stock, shares held	79,545	79,545

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues:
Product sales	$ 23,994	$ 0	$ 47,712	$ 0
Costs and expenses:
Cost of product sales	2,726	0	6,274	0
Research and development	1,223,274	724,493	2,088,311	1,284,467
General and administrative	857,623	891,917	1,785,114	1,783,292
Costs and expenses	2,083,623	1,616,410	3,879,699	3,067,759
Interest expense (income), net	24,292	(129)	48,489	(513)
Change in fair value of contingent rights	11,546	0	18,344	0
Net loss	$ (2,095,467)	$ (1,616,281)	$ (3,898,820)	$ (3,067,246)
Net loss per share (basic and diluted) (in dollars per share)	$ (0.06)	$ (0.06)	$ (0.12)	$ (0.11)
Weighted average number of common shares outstanding (basic and diluted)	32,445,811	27,040,429	32,445,811	27,040,429

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (3,898,820)	$ (3,067,246)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	33,221	19,168
Stock-based compensation expense	872,126	864,262
Non-cash interest	45,300	0
Change in fair value of contingent rights	18,344	0
Changes in operating assets and liabilities:
Accounts receivable	(267)	0
Prepaid expenses and other	(986)	135,109
Accounts payable	214,407	171,057
Accrued liabilities	17,298	7,127
Net cash used in operating activities	(2,699,377)	(1,870,523)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of furniture and equipment	(16,721)	(181,403)
Net cash used in investing activities	(16,721)	(181,403)
Net decrease in cash and cash equivalents	(2,716,098)	(2,051,926)
Cash and cash equivalents at beginning of period	10,669,919	15,131,671
Cash and cash equivalents at end of period	$ 7,953,821	$ 13,079,745

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting [Text Block]	1. Basis of Presentation The accompanying condensed consolidated financial statements include the accounts of CASI Pharmaceuticals, Inc. and its subsidiaries (“CASI” or “the Company”), Miikana Therapeutics, Inc. (“Miikana”) and CASI Pharmaceuticals (Beijing) Co., Ltd. (“CASI China”). CASI China is a non-stock Chinese entity with 100% of its interest owned by CASI. CASI China received approval for a business license from the Beijing Industry and Commercial Administration in August 2012 and has operating facilities in Beijing. All inter-company balances and transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, such condensed consolidated financial statements do not include all of the information and disclosures required by U. S. generally accepted accounting principles for complete consolidated financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. The accompanying December 31, 2014 financial information was derived from the Company’s audited financial statements in the Annual Report on Form 10-K for the year ended December 31, 2014. Operating results for the three and six month periods ended June 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015. For further information, refer to the Company’s audited consolidated financial statements and footnotes thereto included in its Form 10-K for the year ended December 31, 2014. Liquidity Risks and Management’s Plans Since inception, the Company has incurred significant losses from operations and has incurred an accumulated deficit of $ 429.2

License Arrangements and Acquis

License Arrangements and Acquisition of In-Process Research and Development	6 Months Ended
	Jun. 30, 2015
Research and Development [Abstract]
Research, Development, and Computer Software Disclosure [Text Block]	2. License Arrangements and Acquisition of In-Process Research and Development In September 2014, the Company acquired certain product rights and perpetual exclusive licenses from Spectrum Pharmaceuticals, Inc. and certain of its affiliates (together referred to as “Spectrum”), to develop and commercialize the following commercial oncology drugs and drug candidates in China, Taiwan, Hong Kong and Macau (the “Territories”): ⋅ ZEVALIN ® ⋅ MARQIBO ® ⋅ Captisol-Enabled ™ Zevalin and Marqibo are approved drugs currently marketed by Spectrum in the U.S. CE Melphalan met all its endpoints in its Phase II pivotal trial conducted by Spectrum and an NDA was filed which was subsequently accepted by the U.S. FDA in March 2015 and assigned a PDUFA action date of October 23, 2015. CASI is responsible for developing and commercializing these three drugs in the Territories, including the submission of import drug registration applications and conducting confirmatory clinical trials as needed. As consideration for the acquisition, the Company issued a total 5,405,382 1.5 0.5 March 2016 19.7 The fair value of the common stock issued was based on the closing market price of the Company’s common stock on the acquisition date. The fair value of the promissory note was measured using Level 3 unobservable inputs including primarily the Company’s estimated incremental borrowing rate as provided by a commercial lending institution. The Contingent Rights provide Spectrum with the option to acquire, at a strike price of par value, a variable number of additional shares of common stock that allows Spectrum to maintain its fully-diluted ownership percentage for a certain time period and under certain terms and conditions. These Contingent Rights will expire on the earlier of raising an aggregate of $50 million or September 17, 2019 (subject to possible extension only for certain outstanding derivative securities). 9,434,499 9,441,079 9,422,735

Note Payable

Note Payable	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Note Payable As part of the license arrangements with Spectrum (see Note 2), the Company issued to Spectrum a $ 1.5 0.5 136,000 45,300

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Fair Value Measurements Fair value is the price that would be received from the sale of an asset or paid to transfer a liability assuming an orderly transaction in the most advantageous market at the measurement date. U.S. GAAP establishes a hierarchical disclosure framework which prioritizes and ranks the level of observability of inputs used in measuring fair value. These tiers include: ⋅ Level 1, defined as observable inputs such as quoted prices in active markets for identical assets; ⋅ Level 2, defined as observable inputs other than Level 1 prices such as quoted prices for similar assets; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and ⋅ Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. An asset’s or liability’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. At each reporting period, the Company performs a detailed analysis of its assets and liabilities that are measured at fair value. All assets and liabilities for which the fair value measurement is based on significant unobservable inputs or instruments which trade infrequently and therefore have little or no price transparency are classified as Level 3. The inputs used in measuring the fair value of cash and cash equivalents are considered to be Level 1 in accordance with the three-tier fair value hierarchy. The fair market values are based on period-end statements supplied by the various banks and brokers that held the majority of the Company’s funds. The fair value of short-term financial instruments (primarily accounts receivable, prepaid expenses, accounts payable, accrued expenses, and other current assets and liabilities) approximate their carrying values because of their short-term nature. Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis: The Contingent Rights issued to Spectrum in connection with the license arrangements (see Note 2) are considered derivative liabilities and were recorded initially at their estimated fair value, and are marked to market each reporting period until settlement. The fair value of the Contingent Rights was measured using Level 3 unobservable inputs; the unobservable inputs include estimates of the Company’s future capital requirements, and the timing, probability, size and characteristics of those capital raises, among other inputs. Generally, if the estimates of the size and probability of the Company’s future capital requirements increase, the fair value of the Contingent Rights will also increase. As of June 30, 2015 Level 1 Level 2 Level 3 Total Liabilities - Contingent Rights $ - $ - $ 9,441,079 $ 9,441,079 December 31, 2014 $ 9,422,735 Change in fair value of Contingent Rights 18,344 Balance at June 30, 2015 $ 9,441,079 Financial Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis: The promissory note issued to Spectrum in connection with the license arrangements (see Note 2) was initially recorded at its fair value using Level 3 unobservable inputs including primarily the Company’s estimated incremental borrowing rate as provided by a commercial lending institution. Non-Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis: The Company does not have any non-financial assets and liabilities that are measured at fair value on a recurring basis. Non-Financial Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis: The Company measures its long-lived assets, including property and equipment, at fair value on a non-recurring basis. These assets are recognized at fair value when they are deemed to be impaired. If a triggering event has occurred, the assets are re-measured when the estimated fair value of the corresponding asset group is less than the carrying value. The fair value measurements, in such instances, are based on significant unobservable inputs (Level 3).

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	5. Share-Based Compensation The Company has adopted incentive and nonqualified stock option plans for executive, scientific and administrative personnel of the Company as well as outside directors and consultants. In June 2015, the Company’s shareholders approved an amendment to the 2011 Long-Term Incentive Plan, increasing the number of shares reserved for issuance from 5,730,000 8,230,000 As of , there are 7,230,558 1.41 34.10 1,545,000 1,442,876 The Company records compensation expense associated with stock options and other equity-based compensation in accordance with provisions of authoritative guidance. Compensation costs are recognized over the requisite service period, which is generally the option vesting term of up to three years. Awards with will be expensed if it is probable that the will be achieved. As of June 30, 2015, no expense has been recorded for share awards with performance conditions. The Company’s net loss for the six months ended June 30, 2015 and 2014 includes non-cash compensation expense of $ 872,126 864,262 SIX MONTH PERIOD ENDED JUNE 30, 2015 2014 Research and development $ 421,908 $ 275,492 General and administrative 450,218 588,770 Share-based compensation expense $ 872,126 $ 864,262 Net share-based compensation expense, per common share: Basic and diluted $ 0.03 $ 0.03 The Company uses the Black-Scholes-Merton valuation model to estimate the fair value of service based and performance based stock options granted to employees. Option valuation models, including Black-Scholes-Merton, require the input of highly subjective assumptions, and changes in the assumptions used can materially affect the grant date fair value of an award. SIX MONTH PERIOD ENDED JUNE 30, 2015 2014 Expected volatility 85.28 % 102.72% Risk-free interest rate 1.58 % 1.78% Expected term of option 5.67 years 5.63 years Forfeiture rate* 3.00 % 3.00% Expected dividend yield 0.00 % 0.00% * - Authoritative guidance requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. During the six-month period ended June 30, 2015, forfeitures were estimated at 3 The weighted average fair value of stock options granted during the six-month period ended June 30, 2015 was $ 1.02 Weighted Average Number of Exercise Options Price Outstanding at January 1, 2015 4,557,682 $ 2.40 Granted 2,675,000 $ 1.43 Exercised - $ - Expired (2,124) $ 1.71 Forfeited - $ - Outstanding at June 30, 2015 7,230,558 $ 2.04 Vested and expected to vest at June 30, 2015 7,138,741 $ 2.05 Exercisable at June 30, 2015 4,170,004 $ 2.44 There were no option exercises during the three or six months ended June 30, 2015 or 2014.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	6. Income Taxes At December 31, 2014, the Company had a $ 3.0 During the six months ended June 30, 2015, there were no material changes to the measurement of unrecognized tax benefits in various taxing jurisdictions. The Company recognizes interest and penalties related to uncertain tax positions as a component of income tax expense. The tax returns for all years in the Company’s major tax jurisdictions are not settled as of January 1, 2015; no changes in settled tax years have occurred through June 30, 2015. Due to the existence of tax attribute carryforwards (which are currently offset by a full valuation allowance), the Company treats all years’ tax positions as unsettled due to the taxing authorities’ ability to modify these attributes.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	7. Related Party Transactions In May 2015, the Company entered into an agreement with Crown Biosciences, Inc. (“Crown Bio”) to perform FL-HCC efficacy testing of ENMD-2076 24,750 12,375 8,250

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	8. New Accounting Pronouncements In August 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2014-15, Presentation of Financial Statements – Going Concern In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, In July 2015, the FASB delayed the effective date of this standard by one year. The new standard will be effective for the Company’s reporting year beginning on January 1, 2018, and early adoption of the standard as of In April 2015, the FASB issued an accounting standards update amending the presentation of debt issuance costs. These costs will now be presented as a direct reduction from the carrying amount of that debt liability. The update is effective for financial statements issued for reporting periods beginning after December 15, 2015. This guidance should be applied on a retrospective basis with disclosures for a change in accounting principle applicable. The Company has not yet adopted this update and is currently evaluating the impact, if any, it may have on its financial condition and results of operations.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]	As of June 30, 2015 Level 1 Level 2 Level 3 Total Liabilities - Contingent Rights $ - $ - $ 9,441,079 $ 9,441,079
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	December 31, 2014 $ 9,422,735 Change in fair value of Contingent Rights 18,344 Balance at June 30, 2015 $ 9,441,079

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	The compensation expense related to the Company’s share-based compensation arrangements is recorded as components of general and administrative expense and research and development expense, as follows: SIX MONTH PERIOD ENDED JUNE 30, 2015 2014 Research and development $ 421,908 $ 275,492 General and administrative 450,218 588,770 Share-based compensation expense $ 872,126 $ 864,262 Net share-based compensation expense, per common share: Basic and diluted $ 0.03 $ 0.03
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Following are the weighted-average assumptions used in valuing the stock options granted during the six-month periods ended June 30, 2015 and 2014: SIX MONTH PERIOD ENDED JUNE 30, 2015 2014 Expected volatility 85.28 % 102.72% Risk-free interest rate 1.58 % 1.78% Expected term of option 5.67 years 5.63 years Forfeiture rate* 3.00 % 3.00% Expected dividend yield 0.00 % 0.00% * - Authoritative guidance requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. During the six-month period ended June 30, 2015, forfeitures were estimated at 3
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	A summary of the Company’s stock option plans and of changes in options outstanding under the plans for the six months ended June 30, 2015 is as follows: Weighted Average Number of Exercise Options Price Outstanding at January 1, 2015 4,557,682 $ 2.40 Granted 2,675,000 $ 1.43 Exercised - $ - Expired (2,124) $ 1.71 Forfeited - $ - Outstanding at June 30, 2015 7,230,558 $ 2.04 Vested and expected to vest at June 30, 2015 7,138,741 $ 2.05 Exercisable at June 30, 2015 4,170,004 $ 2.44

Basis of Presentation (Details

Basis of Presentation (Details Textual) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Description of Business and Basis of Presentation [Line Items]
Retained Earnings (Accumulated Deficit), Total	$ (429,170,736)	$ (425,271,916)
Percentage Of Ownership Interest In Non Stock Subsidiary	100.00%

License Arrangements and Acqu17

License Arrangements and Acquisition of In-Process Research and Development (Details Textual) - USD ($)	1 Months Ended	6 Months Ended
	Sep. 30, 2014	Jun. 30, 2015	Dec. 31, 2014
License Arrangements and Acquisition of In Process Research and Development [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value		$ 9,441,079	$ 9,422,735
Notes Payable, Current		1,435,315	0
Licensing Agreements [Member]
License Arrangements and Acquisition of In Process Research and Development [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value		9,441,079	$ 9,422,735
Spectrum Pharmaceuticals [Member]
License Arrangements and Acquisition of In Process Research and Development [Line Items]
Contingent Consideration Fair Value Of License		$ 19,700,000
Stock Issued During Period, Shares, Acquisitions	5,405,382
Debt Instrument, Interest Rate, Stated Percentage	0.50%
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	$ 9,434,499
Debt Instrument, Maturity Date, Description		March 2,016
Notes Payable, Current	$ 1,500,000
Contingent Rights Aggregate Amount		$ 50,000,000
Contingent Rights Expiration		These Contingent Rights will expire on the earlier of raising an aggregate of $50 million or September 17, 2019 (subject to possible extension only for certain outstanding derivative securities).

Note Payable (Details Textual)

Note Payable (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2015	Sep. 30, 2014
Notes Payable [Line Items]
Amortization of Debt Discount (Premium)	$ 45,300
Spectrum Pharmaceuticals [Member]
Notes Payable [Line Items]
Long-term Debt, Gross		$ 1,500,000
Debt Instrument, Interest Rate, Stated Percentage		0.50%
Debt Instrument, Unamortized Discount (Premium), Net		$ 136,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities - Contingent Rights	$ 9,441,079	$ 9,422,735
Fair Value, Inputs, Level 1 [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities - Contingent Rights	0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities - Contingent Rights	0
Fair Value, Inputs, Level 3 [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities - Contingent Rights	$ 9,441,079

Fair Value Measurements (Deta20

Fair Value Measurements (Details 1) - Fair Value Hierarchy [Domain]	6 Months Ended
	Jun. 30, 2015USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
December 31, 2014	$ 9,422,735
Change in fair value of Contingent Rights	18,344
Balance at June 30, 2015	$ 9,441,079

Share-Based Compensation (Detai

Share-Based Compensation (Details) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 872,126	$ 864,262
Net share-based compensation expense, per common share:
Basic and diluted (in dollars per share)	$ 0.03	$ 0.03
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 421,908	$ 275,492
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 450,218	$ 588,770

Share-Based Compensation (Det22

Share-Based Compensation (Details 1)		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility		85.28%	102.72%
Risk-free interest rate		1.58%	1.78%
Expected term of option		5 years 8 months 1 day	5 years 7 months 17 days
Forfeiture rate*	[1]	3.00%	3.00%
Expected dividend yield		0.00%	0.00%
[1]	Authoritative guidance requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. During the six-month period ended June 30, 2015, forfeitures were estimated at 3%.

Share-Based Compensation (Det23

Share-Based Compensation (Details 2) - 6 months ended Jun. 30, 2015 - $ / shares	Total
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding - Number of Options, Beginning Balance	4,557,682
Granted - Number of Options	2,675,000
Exercised - Number of Options	0
Expired - Number of Options	(2,124)
Forfeited - Number of Options	0
Outstanding - Number of Options, Ending Balance	7,230,558
Vested and expected to vest - Number of Options at June 30, 2015	7,138,741
Exercisable - Number of Options at June 30,2015	4,170,004
Outstanding - Weighted Average Exercise Price, Beginning balance	$ 2.40
Granted - Weighted Average Exercise Price	1.43
Exercised - Weighted Average Exercise Price	0
Expired - Weighted Average Exercise Price	1.71
Forfeited - Weighted Average Exercise Price	0
Outstanding - Weighted Average Exercise Price, Ending Balance	2.04
Vested and expected to vest - Weighted Average Exercise Price at June 30, 2015	2.05
Exercisable - Weighted Average Exercise Price at June 30, 2015	$ 2.44

Share-Based Compensation (Det24

Share-Based Compensation (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 1.02
Allocated Share-based Compensation Expense	$ 872,126	$ 864,262
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance	7,230,558		4,557,682
Share Based Compensation Estimated Forfeiture Rate	3.00%
Two Officers And Two Board Members[Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Options Granted Subject To Achievement	1,545,000
Long Term Incentive Plan2011 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	1,442,876
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance	7,230,558
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Long Term Incentive Plan2011 [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	8,230,000
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 34.10
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Long Term Incentive Plan2011 [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	5,730,000
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 1.41
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year

Income Taxes (Details Textual)

Income Taxes (Details Textual) $ in Millions	Dec. 31, 2014USD ($)
Research Tax Credit Carryforward [Member]
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits	$ 3

Related Party Transactions (Det

Related Party Transactions (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	May. 31, 2015	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Research and Development Expense, Total		$ 1,223,274	$ 724,493	$ 2,088,311	$ 1,284,467
Crown Biosciences, Inc [Member]
Cash Paid To Related Party		12,375		12,375
Related Party Transaction, Amounts of Transaction	$ 24,750
Research and Development Expense, Total		$ 8,250		$ 8,250
Related Party Transaction, Description of Transaction	to perform FL-HCC efficacy testing of ENMD-2076