Annual report pursuant to section 13 and 15(d)

10. INCOME TAXES (Details 1)

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10. INCOME TAXES (Details 1) (USD $)
Dec. 31, 2013
Dec. 31, 2012
Deferred tax assets:    
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 0
Total gross deferred tax assets 20,391,083 13,540,965
Less: valuation allowance for deferred tax assets (20,391,083) (13,540,965)
Net deferred tax assets $ 0 $ 0