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Subsequent Events | 9 Months Ended
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Sep. 30, 2016
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events In October 2016, the Company entered into an office lease (the “Lease”) for a property located in San Diego, California. The total space is approximately 51,000 square feet. The Company intends to use the facility for office, manufacturing and research and development purposes. The term of the Lease commences on the earlier to occur of the date the Company first conducts business from any portion of the premises, or June 1, 2017. The initial term of the Lease is ten years, with a right to terminate on November 30, 2023, with appropriate notice to the landlord. The base rent adjusts periodically throughout the term of the Lease, with a portion of the rent abated for certain periods during the first two years of the initial term. In addition, the Company will pay the landlord its share of operating expenses and has paid a security deposit of $95,000. Between October 1 and October 10, 2016, the Company sold 90,500 shares of common stock under its Sales Agreement for net proceeds of $837,000. No sales were made under the Sales Agreement from October 11, 2016 through November 8, 2016. On October 24, 2016, the Company announced that the U.S. Food and Drug Administration (FDA) has placed a clinical hold on its proposed phase III clinical program for VGX-3100. A clinical hold is a notification issued by the FDA to a trial sponsor to delay a proposed clinical trial or suspend an ongoing clinical trial. This study has not yet been initiated and has not enrolled or dosed subjects. Additionally, the hold does not pertain to any of the Company's other ongoing clinical studies. The Company anticipates receiving a formal letter with complete information from the FDA within 30 days. In its initial communication, the FDA has requested additional data to support the Company's shelf-life claim for the single-use disposable array of the newly designed and manufactured CELLECTRA® 5PSP immunotherapy delivery device. The Company is working diligently with the FDA to address its concerns and anticipates that the requested data will be available before the end of this year. The Company estimates that the start of the phase III clinical program will be delayed until the first half of 2017 pending resolution of the FDA’s requests.

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- 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
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