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Operating Leases
3 Months Ended
Mar. 31, 2014
Leases [Abstract]  
Operating Leases

5. Operating Leases

The Company leases its office and research space under a five-year operating lease that is subject to escalation clauses. In connection with its lease arrangement, the Company received rent abatement as a lease incentive. The rent abatement has been recognized as deferred rent that will be adjusted on a straight-line basis over the term of the lease. Deferred rent was $175,471 and $200,947 at March 31, 2014 and December 31, 2013, respectively. Total rent expense was $96,319 and $80,989 for the three months ended March 31, 2014 and 2013, respectively and $2,853,503 for the period from May 21, 2003 (date of inception) to March 31, 2014.