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EXCEL - IDEA: XBRL DOCUMENT - VENTRUS BIOSCIENCES INCFinancial_Report.xls
10-Q - QUARTERLY REPORT - VENTRUS BIOSCIENCES INCv326006_10q.htm
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v2.4.0.6
CONDENSED STATEMENTS OF CASH FLOWS (USD $)
9 Months Ended 84 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Cash flows from operating activities:      
Net loss $ (20,999,321) $ (15,485,372) $ (88,528,405)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation 2,241,659 2,168,071 8,181,930
Stock -based payments to consultants 326,313 3,632,397 4,317,130
Depreciation 3,351 2,749 34,356
Charge resulting from beneficial note conversion 0 0 6,001,496
Amortization of deferred financing costs and debt discount   328,958 3,466,010
Changes in operating assets and liabilities:      
Other current assets (49,055) (66,068) (111,184)
Accounts payable and accrued expenses 168,122 683,010 2,493,659
Net cash used in operating activities (18,308,931) (8,736,255) (58,747,231)
Cash flows from investing activities:      
Purchase of office and computer equipment (3,240) (11,964) (42,464)
Net cash used in investing activities (3,240) (11,964) (42,464)
Cash flows from financing activities:      
Net proceeds from sale of common stock 4,166,494 49,988,823 69,339,661
Proceeds from notes payable   0 11,522,380
Proceeds from notes payable to related parties     5,041,953
Payment for deferred financing costs   0 (1,431,603)
Repayment of notes   (2,792,380) (2,719,380)
Repayment of notes payable - related party 0 0 (1,573,000)
Proceeds from the exercise of warrants and options 730,322 274,983 2,169,762
Net cash provided by financing activities 4,896,816 47,471,426 82,349,774
Net increase (decrease) in cash and cash equivalents (13,415,355) 38,723,207 23,560,079
Beginning of period 36,975,434 14,571,055 0
End of period 23,560,079 53,294,262 23,560,079
Supplemental schedule of non-cash financing activities:      
Warrants issued to placement agent 0 0 341,334
Warrants issued to investors in connection with convertible notes 0 0 1,166,989
Supplemental disclosure - cash paid for interest 0 277,324 685,397
Senior Notes 2010 [Member]
     
Supplemental schedule of non-cash financing activities:      
Notes and accrued interest converted     3,995,667
Debt discount     1,468,254
Related Parties [Member]
     
Adjustments to reconcile net loss to net cash used in operating activities:      
Interest payable     266,279
Paramount Credit Partners, LLC [Member]
     
Supplemental schedule of non-cash financing activities:      
Debt discount   302,327 782,376
License Agreement [Member]
     
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock/Warrants issued     414,825
Vendor [Member]
     
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock/Warrants issued     5,000
Note Conversion [Member]
     
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock/Warrants issued     1,255,978
Research and Development Expense [Member]
     
Adjustments to reconcile net loss to net cash used in operating activities:      
Non-cash expense     1,087,876
Notes [Member]
     
Adjustments to reconcile net loss to net cash used in operating activities:      
Interest payable     2,139,909
Issuance of Debt [Member]
     
Adjustments to reconcile net loss to net cash used in operating activities:      
Non-cash expense     227,910
Common Stock [Member]
     
Supplemental schedule of non-cash financing activities:      
Notes and accrued interest converted     $ 14,003,158