Annual report pursuant to section 13 and 15(d)

10. INCOME TAXES (Tables)

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10. INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2013
Income Tax Disclosure [Abstract]  
Schedule of reconciliation of income taxes
    Year Ended December 31,  
    2013     2012  
Benefit at US federal statutory rate   $ (5,279,264 )   $ (2,692,436 )
State taxes - deferred     (901,800 )     (395,946 )
Increase in valuation allowance, inclusive of true-ups     6,850,118       3,088,382  
Research and development credits     (599,003 )     -  
Sale of state net operating loss     -       (617,615 )
Other     (70,051 )     -  
Benefit for income taxes   $ -     $ (617,615 )
Schedule of deferred tax asset
    Year Ended December 31,  
    2013     2012  
Federal and state net operating loss carryforwards   $ 16,791,893     $ 11,602,301  
Federal and state research credits     2,846,245       1,938,664  
Accrued expenses and other     752,945       -  
Total gross deferred taxassets     20,391,083       13,540,965  
Less: valuation allowance for deferred taxassets     (20,391,083 )     (13,540,965 )
Net deferred taxassets   $ -     $ -