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Accrued Expenses and Other Liabilities (Tables)
 9 Months Ended
Sep. 30, 2014
Payables And Accruals [Abstract]  
Schedule of Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consist of the following:

 

 

September 30, 2014

 

 

December 31, 2013

 

 

 

 

 

 

 

 

 

Accrued payroll

$

229,785

 

 

$

126,910

 

Accrued excise and franchise taxes

 

203,991

 

 

 

—

 

Research and development costs

 

168,640

 

 

 

58,117

 

Primomed research funding (1)

 

132,721

 

 

 

—

 

Professional fees (2)

 

70,445

 

 

 

595,215

 

Consulting and other costs

 

27,024

 

 

 

5,031

 

Vacation pay

 

17,818

 

 

 

5,690

 

Interest payable

 

—

 

 

 

24,276

 

 

$

850,424

 

 

$

815,239

 

 

(1)

Under the terms of a research agreement with Primomed, the Company received grant funds that will be used to offset certain costs under the MIN-301 development program.

(2)

Accounts payable and accrued professional fees at December 31, 2013 included $0.4 million that was incurred in connection with the preparation for the Company’s IPO.