XML 53 R26.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Subsequent Events | 12 Months Ended
--- | ---
Dec. 31, 2011
Subsequent Events [Abstract] |
Subsequent Events | 18. Subsequent Events The Company evaluated all events or transactions that occurred after December 31, 2011 up through the date these financial statements were issued. Other than what is disclosed below, or elsewhere in the notes to the consolidated financial statements, the Company did not have any material recognizable or unrecognizable subsequent events. On January 12, 2012, the Company granted an option to purchase 50,000 shares of common stock to each of the five non-employee members of the Board of Directors. These options had an exercise price of $0.72 per share, which represented the Company’s closing stock price on that date. The options vest quarterly over a one-year period and expire not later than 10 years from the grant date. On January 12, 2012, the Company granted options to purchase an aggregate of 825,000 shares of common stock to certain employees at a price of $0.72 per share, which represented the Company’s closing stock price on that date. The options vest quarterly over four years beginning three months from the date of grant and expire not later than 10 years from the date of grant. On February 4, 2012, the Company granted warrants to purchase 400,000 shares of common stock at an exercise price of $0.66 per share in exchange for business advisory services to the Company for a period of up to twelve months. The warrants vested as to 100,000 shares upon issuance, and then will vest at a rate of 100,000 shares per quarter starting on the 90 day anniversary of issuance. The Company has also agreed to give “piggy back” registration rights with respect to the shares of common stock underlying the warrants in any registration statement filed by the company in connection with an underwritten offering of the common stock. On January 20, 2012, the Company sold 579,710 shares of our common stock for $400,000 to Kwang Dong Pharmaceutical Company as part of a existing license agreement for NeuVax covering territorial rights for the compound in South Korea that the Company acquired in its merger acquisition of Apthera. On February 3, 2012, the Company issued 100,000 shares of our common stock in payment of $135,000 of accrued legal fees. On March 8, 2012, the Company issued 1,315,789 restricted shares of common stock in payment of the first milestone under the contingent value rights agreement entered into in connection with our merger acquisition of Apthera in April 2011. The certificates evidencing the milestone shares have been deposited with a third-party escrow agent. The milestone shares will be released to the former Apthera shareholders from escrow if the issuance of the milestone shares is approved by the stockholders of the Company at the Company’s 2012 annual stockholders meeting. From January 23, 2012 through March 23, 2012, the Company issued 1,369,944 shares of the Company’s common stock subject to the exercise of outstanding warrants from various warrant holders. The Company received $1,223,464 in total payments at exercise prices ranging from $0.65 to $2.50 per share.

X
- Details
Name: | us-gaap_SubsequentEventsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
Name: | us-gaap_SubsequentEventsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration