Prepaid Expenses
 3 Months Ended
Mar. 31, 2015
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]  
Prepaid Expenses

5. Prepaid Expenses

Prepaid expenses are comprised of the following as of:

 

 

 

December 31,

 

 

March 31,

 

 

 

2014

 

 

2015

 

 

 

(Unaudited)

 

 

(Unaudited)

 

Prepaid developmental expenses

 

$

2,936,702

 

 

$

1,468,351

 

Prepaid insurance

 

 

242,980

 

 

 

734,243

 

Other prepaid expenses

 

 

208,201

 

 

 

315,707

 

Total prepaid expenses

 

$

3,387,883

 

 

$

2,518,301

 

 

The $1.5 million prepaid development expenses consists of payments for active pharmaceutical ingredient (API) which will be used for the clinical development program of solithromycin in Japan.