|
STATEMENTS OF OPERATIONS (USD $)
|
12 Months Ended |
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
| Revenue: |
|
|
|
| Licensing revenue |
$ 100,000 |
$ 300,000 |
$ 100,000 |
| Expenses: |
|
|
|
| Research and development |
36,677,706 |
17,500,469 |
12,684,793 |
| General and administrative |
12,845,231 |
10,273,576 |
8,353,330 |
| Depreciation and amortization |
182,927 |
120,399 |
113,936 |
| Total expenses |
49,705,864 |
27,894,444 |
21,152,059 |
| Loss before other income (loss) |
(49,605,864) |
(27,594,444) |
(21,052,059) |
| Other income (loss): |
|
|
|
| Interest income |
305,331 |
137,676 |
131,666 |
| Other income, net |
132,114 |
183,025 |
191,416 |
| (Gain) loss on warrant liability |
19,051,239 |
(20,210,094) |
2,766,704 |
| Loss before provision for income taxes |
(30,117,180) |
(47,483,837) |
(17,962,273) |
| Income tax expense |
(800) |
(1,600) |
(1,600) |
| Net loss |
$ (30,117,980) |
$ (47,485,437) |
$ (17,963,873) |
| Basic and diluted loss per share |
$ (0.55) |
$ (1.44) |
$ (0.78) |
| Basic weighted average shares outstanding (in shares) |
54,371,151 |
32,891,202 |
22,973,905 |
| Diluted weighted average shares outstanding (in shares) |
54,371,151 |
32,891,202 |
22,973,905 |