2014 Form 10-K Financial Statement

#000119312515101703 Filed on March 23, 2015

View on sec.gov

Income Statement

Concept 2014 2013 Q4 2013
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.560M $830.0K $2.130M
YoY Change 67.14% 4050.0% 232.81%
% of Gross Profit
Research & Development $3.708M $400.0K $1.542M
YoY Change 140.49% 300.0% 228.02%
% of Gross Profit
Depreciation & Amortization $1.069K $0.00 $0.00
YoY Change
% of Gross Profit
Operating Expenses $3.708M $1.230M $1.542M
YoY Change 140.49% 925.0% 37.65%
Operating Profit -$7.271M -$3.676M
YoY Change 97.76%
Interest Expense $244.2K $10.53M $159.3K
YoY Change 53.26% -7120.0% -133.19%
% of Operating Profit
Other Income/Expense, Net $2.083M $0.00 $16.74M
YoY Change -87.55% -100.0%
Pretax Income -$5.190M $9.300M $13.06M
YoY Change -139.74% -142.78% -156.61%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0% 0.0%
Net Earnings -$5.187M $9.300M $13.06M
YoY Change -139.72% -142.78% -156.6%
Net Earnings / Revenue
Basic Earnings Per Share -$2.51 $3.49
Diluted Earnings Per Share -$3.09 $1.488M -$17.61
COMMON SHARES
Basic Shares Outstanding 3.818M shares 318.4K shares
Diluted Shares Outstanding 3.851M shares 855.5K shares

Balance Sheet

Concept 2014 2013 Q4 2013
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.530M $3.300M $3.260M
YoY Change 161.66% 175.0% 167.21%
Cash & Equivalents $8.530M $3.262M $3.260M
Short-Term Investments
Other Short-Term Assets $230.0K $0.00 $10.00K
YoY Change 2200.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $8.760M $3.271M $3.270M
YoY Change 167.89% 63.54% 65.15%
LONG-TERM ASSETS
Property, Plant & Equipment $10.00K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $10.00K $500.0K $470.0K
YoY Change -97.87%
Total Long-Term Assets $30.00K $472.5K $470.0K
YoY Change -93.62%
TOTAL ASSETS
Total Short-Term Assets $8.760M $3.271M $3.270M
Total Long-Term Assets $30.00K $472.5K $470.0K
Total Assets $8.790M $3.743M $3.740M
YoY Change 135.03% 87.16% 88.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $340.0K $341.9K $340.0K
YoY Change 0.0% 241.85% 385.71%
Accrued Expenses $910.0K $117.9K $110.0K
YoY Change 727.27% 17.87% -8.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $100.0K $90.00K
YoY Change -100.0%
Long-Term Debt Due $80.00K $58.16K $60.00K
YoY Change 33.33% -70.92% -64.71%
Total Short-Term Liabilities $1.330M $605.0K $610.0K
YoY Change 118.03% 51.25% 69.44%
LONG-TERM LIABILITIES
Long-Term Debt $1.180M $1.129M $4.650M
YoY Change -74.62% -95.79% -82.63%
Other Long-Term Liabilities $0.00 $400.0K $390.0K
YoY Change -100.0%
Total Long-Term Liabilities $1.180M $1.129M $5.040M
YoY Change -76.59% -95.79% -81.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.330M $605.0K $610.0K
Total Long-Term Liabilities $1.180M $1.129M $5.040M
Total Liabilities $2.500M $5.647M $5.650M
YoY Change -55.75% -79.16% -79.17%
SHAREHOLDERS EQUITY
Retained Earnings -$41.32M
YoY Change
Common Stock $327.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.280M -$40.22M -$1.900M
YoY Change
Total Liabilities & Shareholders Equity $8.790M $3.743M $3.740M
YoY Change 135.03% 87.16% 88.89%

Cashflow Statement

Concept 2014 2013 Q4 2013
OPERATING ACTIVITIES
Net Income -$5.187M $9.300M $13.06M
YoY Change -139.72% -142.78% -156.6%
Depreciation, Depletion And Amortization $1.069K $0.00 $0.00
YoY Change
Cash From Operating Activities -$4.780M -$600.0K -$1.710M
YoY Change 179.53% 275.0% 119.23%
INVESTING ACTIVITIES
Capital Expenditures $14.06K $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$10.00K $0.00 $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $10.06M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 10.06M 1.100M 3.750M
YoY Change 168.27% -12.0% 114.29%
NET CHANGE
Cash From Operating Activities -4.780M -600.0K -1.710M
Cash From Investing Activities -10.00K 0.000 0.000
Cash From Financing Activities 10.06M 1.100M 3.750M
Net Change In Cash 5.270M 500.0K 2.040M
YoY Change 158.33% -54.13% 110.31%
FREE CASH FLOW
Cash From Operating Activities -$4.780M -$600.0K -$1.710M
Capital Expenditures $14.06K $0.00 $0.00
Free Cash Flow -$4.794M -$600.0K -$1.710M
YoY Change 180.35% 275.0% 119.23%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2010Q1 aldx Aggregate Development And Regulatory Milestone Payments To Licensor
AggregateDevelopmentAndRegulatoryMilestonePaymentsToLicensor
2150000
CY2013Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
177952
CY2013Q4 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
1000000
CY2012Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
-88100
CY2012Q2 us-gaap Line Of Credit
LineOfCredit
500000
CY2015Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
6890023 shares
CY2014Q2 dei Entity Public Float
EntityPublicFloat
11936438
CY2014Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
205000
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.24
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
67232 shares
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
-54384496
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1223638
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.48
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
96949 shares
CY2013Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
2.06
CY2013Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
0 shares
CY2013Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2013Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
609842 shares
CY2013Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
38317298
CY2013Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
-6786132
CY2013Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
117873
CY2013Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2013Q4 us-gaap Liabilities Current
LiabilitiesCurrent
605011
CY2013Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
253247
CY2013Q4 us-gaap Interest Payable Current
InterestPayableCurrent
2772
CY2013Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2013Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
341853
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-41324338
CY2013Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
58160
CY2013Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
117873
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
-40221326
CY2013Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1129015
CY2013Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3743233
CY2013Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
1102685
CY2013Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
38102
CY2013Q4 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
85000
CY2013Q4 us-gaap Line Of Credit
LineOfCredit
1395833
CY2013Q4 us-gaap Liabilities
Liabilities
5647261
CY2013Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
3518867
CY2013Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
63752
CY2013Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
8837
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3262354
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
6300000
CY2013Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
1395749
CY2013Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8412
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
925498
CY2013Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
336324
CY2013Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
3833
CY2013Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
208659
CY2013Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
249106
CY2013Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
735595
CY2013Q4 us-gaap Assets
Assets
3743233
CY2014Q4 us-gaap Long Term Debt
LongTermDebt
1395833
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
465278
CY2014Q4 us-gaap Liabilities Current
LiabilitiesCurrent
1327564
CY2013Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2013Q4 us-gaap Assets Current
AssetsCurrent
3270766
CY2013Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
4206982
CY2013Q4 aldx Deferred Offering Costs Noncurrent
DeferredOfferingCostsNoncurrent
472467
CY2013Q4 aldx Accrued Deferred Offering Costs
AccruedDeferredOfferingCosts
394368
CY2013Q4 aldx Accrued Interest On Convertible Notes Payable Related Parties
AccruedInterestOnConvertibleNotesPayableRelatedParties
2125
CY2013Q4 aldx Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
4410
CY2013Q4 aldx Related Party Transaction Derivative Liability Noncurrent
RelatedPartyTransactionDerivativeLiabilityNoncurrent
3265620
CY2013Q4 aldx Deferred Tax Assets Note Discounts
DeferredTaxAssetsNoteDiscounts
133791
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.10
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
134294 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
1.57
CY2014Q4 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
3642799 shares
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
15000000 shares
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
874032 shares
CY2014Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
-9574752
CY2014Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
908724
CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2014Q4 us-gaap Interest Payable Current
InterestPayableCurrent
1425
CY2014Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2014Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
341294
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-46511597
CY2014Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
77546
CY2014Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
52790090
CY2014Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
908724
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
6284058
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
188000
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
51000
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
387731
CY2014Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1175481
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
8787103
CY2014Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
41985
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
77546
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
69000
CY2014Q4 us-gaap Liabilities
Liabilities
2503045
CY2014Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
0
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
68000
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
465278
CY2014Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
106886
CY2014Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
444786
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
8527304
CY2014Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
4500000
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12993
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
3700000
CY2014Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
0
CY2014Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
1163905
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
232568
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
1400000
CY2014Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
402062
CY2014Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
142806
CY2014Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
421828
CY2014Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
1432312
CY2014Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
97
CY2014Q4 us-gaap Assets
Assets
8787103
CY2014Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2014Q4 us-gaap Assets Current
AssetsCurrent
8759872
CY2014Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
6210836
CY2014Q4 aldx Deferred Offering Costs Noncurrent
DeferredOfferingCostsNoncurrent
14238
CY2014Q4 aldx Cash Reserve For Indemnities And Guarantees
CashReserveForIndemnitiesAndGuarantees
0
CY2014Q4 aldx Indemnification Obligations Claims Outstanding
IndemnificationObligationsClaimsOutstanding
0
CY2014Q4 aldx Percentage Of Voting Rights Interest
PercentageOfVotingRightsInterest
0.67 pure
CY2014Q4 aldx Number Of Financial Institutions
NumberOfFinancialInstitutions
1 Financial_Institutions
CY2014Q4 aldx Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
313642
CY2014Q4 aldx Deferred Tax Assets Note Discounts
DeferredTaxAssetsNoteDiscounts
56094
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
300147 shares
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2013Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.24
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2013Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
221000
CY2013Q4 us-gaap Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
0.0650 pure
CY2013Q4 us-gaap Line Of Credit Facility Annual Principal Payment
LineOfCreditFacilityAnnualPrincipalPayment
58160
CY2013Q2 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
12948 shares
CY2013 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-17.61
CY2013 us-gaap Incremental Common Shares Attributable To Equity Unit Purchase Agreements
IncrementalCommonSharesAttributableToEquityUnitPurchaseAgreements
107416 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
10.64
CY2013 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0000 pure
CY2013 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-1706601
CY2013 us-gaap Weighted Average Number Of Shares Treasury Stock
WeightedAverageNumberOfSharesTreasuryStock
429663 shares
CY2013 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0.0023 pure
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
542610 shares
CY2013 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.0899 pure
CY2013 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.4285 pure
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y3M26D
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
855508 shares
CY2013 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.49
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y4M28D
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.26
CY2013 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.3400 pure
CY2013 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2881714 shares
CY2013 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Research And Development
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseResearchAndDevelopment
-0.0037 pure
CY2013 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
318429 shares
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1100000
CY2013 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-15065476
CY2013 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
7147
CY2013 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
104167
CY2013 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
5462
CY2013 us-gaap Operating Income Loss
OperatingIncomeLoss
-3676407
CY2013 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
16175386
CY2013 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
16736879
CY2013 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
170000
CY2013 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1109910
CY2013 us-gaap Net Income Loss
NetIncomeLoss
13060472
CY2013 us-gaap Investment Income Interest
InvestmentIncomeInterest
31
CY2013 us-gaap Interest Paid
InterestPaid
34825
CY2013 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1701713
CY2013 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1701713
CY2013 us-gaap Interest Expense
InterestExpense
159323
CY2013 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1541681
CY2013 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
2038716
CY2013 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-720785
CY2013 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
170000
CY2013 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
822550
CY2013 us-gaap Increase Decrease In Notes Payable Related Parties
IncreaseDecreaseInNotesPayableRelatedParties
2125
CY2013 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
3745317
CY2013 us-gaap Proceeds From Issuance Of Redeemable Convertible Preferred Stock
ProceedsFromIssuanceOfRedeemableConvertiblePreferredStock
2750436
CY2013 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
11128012
CY2013 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
121374
CY2013 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-6355
CY2013 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2134726
CY2013 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
269315
CY2013 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
822550
CY2013 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
1000000
CY2013 us-gaap Share Based Compensation
ShareBasedCompensation
1701713
CY2013 aldx Fair Value Of Warrants Issued In Connection With Credit Facility
FairValueOfWarrantsIssuedInConnectionWithCreditFacility
177952
CY2013 aldx Deferred Offering Costs Paid By Cash
DeferredOfferingCostsPaidByCash
78099
CY2013 aldx Deferred Offering Costs Not Yet Paid
DeferredOfferingCostsNotYetPaid
394368
CY2013 aldx Change In Fair Value Of Warrant Liabilities Purchase Right And Warrant Purchase Rights
ChangeInFairValueOfWarrantLiabilitiesPurchaseRightAndWarrantPurchaseRights
-16896171
CY2013 aldx Net Operating Loss Carry Forwards Expiration Year
NetOperatingLossCarryForwardsExpirationYear
2033
CY2013 aldx Contributed Service Fees
ContributedServiceFees
219167
CY2013 aldx Proceeds From Issuance Of Restricted Common Stock
ProceedsFromIssuanceOfRestrictedCommonStock
-7147
CY2013 aldx Exercise Of Warrant Purchase Rights Into Warrants
ExerciseOfWarrantPurchaseRightsIntoWarrants
1793600
CY2013 aldx Deferred Tax Assets Tax Credit Carryforwards Research Expiration Year
DeferredTaxAssetsTaxCreditCarryforwardsResearchExpirationYear
2033
CY2013 aldx Allocation Of Fair Value Of Investor Purchase Rights To Redeemable Convertible Preferred Stock
AllocationOfFairValueOfInvestorPurchaseRightsToRedeemableConvertiblePreferredStock
6264914
CY2013 aldx Fair Value Adjustment Of Convertible Preferred Stock Rights And Rights Option Liabilities
FairValueAdjustmentOfConvertiblePreferredStockRightsAndRightsOptionLiabilities
16175386
CY2013 aldx Adjustments To Additional Paid In Capital Share Based Compensation Requisite Service Period Recognition Value To President And Ceo
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRequisiteServicePeriodRecognitionValueToPresidentAndCeo
46388
CY2013 aldx President And Ceo Contributed Services
PresidentAndCeoContributedServices
46388
CY2013 aldx Offering Costs Related To Issuance Of Preferred Stock
OfferingCostsRelatedToIssuanceOfPreferredStock
17200
CY2014 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.09
CY2014 dei Document Type
DocumentType
10-K
CY2014 dei Entity Registrant Name
EntityRegistrantName
ALDEYRA THERAPEUTICS, INC.
CY2014 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2014 dei Trading Symbol
TradingSymbol
ALDX
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.84
CY2014 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2014 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2014 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0000 pure
CY2014 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y7M6D
CY2014 us-gaap Nature Of Operations
NatureOfOperations
<div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="4%" align="left"><b>1.</b></td> <td valign="top" align="left"><b>NATURE OF BUSINESS</b></td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt"> Aldeyra Therapeutics, Inc. (the Company or Aldeyra) was incorporated in the state of Delaware on August&#xA0;13, 2004 as Neuron Systems, Inc. On December&#xA0;20, 2012, the Company changed its name to Aldexa Therapeutics, Inc. and on March&#xA0;17, 2014 the Company changed its name to Aldeyra Therapeutics, Inc. The Company is developing a treatment for diseases related to high levels of free aldehydes, naturally occurring pro-inflammatory toxins. The ongoing research and development activities will be subject to extensive regulation by numerous governmental authorities in the United States. Prior to marketing in the United States, any drug developed by the Company must undergo rigorous preclinical and clinical testing and an extensive regulatory approval process implemented by the United States Food and Drug Administration (FDA) under the Food, Drug and Cosmetic Act. The Company has limited experience in conducting and managing the preclinical and clinical testing necessary to obtain regulatory approval. There can be no assurance that the Company will not encounter problems in the clinical trials that will cause the Company or the FDA to delay or suspend clinical trials.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt"> The Company&#x2019;s success will depend in part on its ability to obtain patents and product license rights, maintain trade secrets, and operate without infringing on the property rights of others, both in the United States and other countries. There can be no assurance that patents issued to or licensed by the Company will not be challenged, invalidated, circumvented, or that the rights granted thereunder will provide proprietary protection or competitive advantages to the Company.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt"> The Company&#x2019;s principal activities to date include raising capital and research and development activities.</p> </div>
CY2014 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-4775994
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2014 us-gaap Basis Of Accounting
BasisOfAccounting
<div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="4%" align="left"><b>2.</b></td> <td valign="top" align="left"><b>BASIS OF PRESENTATION</b></td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b><i>Basis of Presentation and Management&#x2019;s Plans&#xA0;</i></b>&#x2013; The accompanying financial statements were prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP).</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b><i>Liquidity&#xA0;</i></b>&#x2013; At December&#xA0;31, 2014, the Company had an accumulated deficit of approximately $46.5 million and cash and cash equivalents of approximately $8.5 million.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> On May&#xA0;7, 2014, the Company closed its Initial Public Offering, in which 1,500,000 shares of common stock were sold at a price to the public of $8.00 per share for an aggregate offering price of $12.0 million. The offer and sale of all of the shares in the Initial Public Offering were registered under the Securities Act of the 1933, as amended, pursuant to a registration statement on Form S-1 (File No.&#xA0;333-193204), which was declared effective by the SEC on May&#xA0;1, 2014. The offering commenced as of May&#xA0;1, 2014 and did not terminate before all of the securities registered in the registration statement were sold. Aegis Capital Corp. acted as the sole manager of the offering and as representative of the underwriters. The Company raised approximately $10.1&#xA0;million in net proceeds after deducting underwriting discounts and commissions of $0.8&#xA0;million, $1.0 million in prepaid offering and printing costs and other offering costs of $0.2 million.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> On January&#xA0;15, 2015, the Company sold, in a private placement, an aggregate of approximately 1.1&#xA0;million shares of common stock at a price of $7.00 per share. Investors received warrants to purchase up to approximately 1.1&#xA0;million shares of common stock at an exercise price of $9.50. The warrants will expire 3 years from the date of issuance. The warrants do not include a net-exercise feature. The warrants may be redeemed by the Company at a price of $0.001 per share upon notice to the holders in the event that the closing bid for Aldeyra&#x2019;s common stock for each of the fifteen consecutive trading days prior to such redemption is at least $20.00 per share and the average trading volume of Aldeyra&#x2019;s common stock during such period is 50,000 shares per day. Following Aldeyra&#x2019;s notification to the warrant holders of its exercise of the redemption right under the warrants, each warrant holder will have the option to exercise their warrants prior to the redemption date rather than having them redeemed. The Company raised approximately $7.1 million in net proceeds in the private placement of common stock and warrants.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> On January&#xA0;22, 2015, in a subsequent private placement, the Company sold an aggregate of 211,528 shares of common stock at a price of $9.33 per share and a warrant to purchase up to 211,528 shares of common stock at a price of $0.125 per share subject to the warrant. The exercise price of the warrant is $9.50 per share. The warrant will expire 3 years from the date of issuance. The warrant does not include a net-exercise feature. The warrant may be redeemed by the Company at a price of $0.001 per share upon notice to the holder thereof in the event that the closing bid for Aldeyra&#x2019;s common stock for each of the fifteen consecutive trading days prior to such redemption is at least $20.00 per share and the average trading volume of Aldeyra&#x2019;s common stock during such period is 50,000 shares per day. Following Aldeyra&#x2019;s notification to the warrant holder of its exercise of the redemption right under the warrant, the warrant holder will have the option to exercise the warrant prior to the redemption date rather than having it redeemed. The company raised approximately $2.0 million in net proceeds in the private placement of common stock and a warrant to purchase common stock.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> In addition, as discussed in Note 7, in November 2014, the Company amended its credit facility (the Credit Facility) with Square 1. Square 1 agreed to make term loans in a principal amount of up to $5,000,000 available to the Company with proceeds to be used first to refinance outstanding loans from Square 1, second to fund expenses related to the Company&#x2019;s clinical trials, and the remainder for general working capital purposes. The term loans are to be made available to the Company upon the following terms: (i)&#xA0;$2,000,000 was made available on November&#xA0;10, 2014; and (ii)&#xA0;$3,000,000 (the Tranche B Loan) is to be made available to the Company following the satisfaction of certain conditions, including receipt of positive phase 2 data in either SLS or noninfectious anterior uveitis. Each term loan accrues interest from its date of issue at a variable annual interest rate equal to the greater of 2.0% plus prime or 5.25%&#xA0;per annum. Any term loan made is payable as interest-only prior to November 2015 and thereafter is payable in monthly installments of principal plus accrued interest over 36 months. The Credit Facility is collateralized by the Company&#x2019;s assets, including its intellectual property.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> The Company&#x2019;s management believes that its currently available resources, including funds obtained from the January 2015 private placements and amounts available under the Credit Facility, will provide sufficient funds to enable the Company to meet its obligations through at least the end of 2016. The Company will need to raise additional capital to implement its near-term business plan. Additional funding may not be available to the Company on acceptable terms, or at all. If the Company is unable to secure additional capital, or meet financial covenants that could be implemented under the Company&#x2019;s term loans in certain circumstances, it will be required to significantly decrease the amount of planned expenditures, and may be required to cease operations.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> Curtailment of operations would cause significant delays in the Company&#x2019;s efforts to introduce its products to market, which is critical to the realization of its business plan and the future operations of the Company.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b><i>Use of Estimates</i></b>&#xA0;&#x2013; The preparation of financial statements in conformity with US&#xA0;GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. The Company evaluates its estimates and assumptions on an ongoing basis. The most significant estimates in the Company&#x2019;s financial statements relate to accruals, including research and development costs, accounting for income taxes and the related valuation allowance, estimating the fair value of the Company&#x2019;s common and preferred stock, preferred stock warrants, purchase rights and warrant purchase rights, and accounting for stock based compensation and the related fair value. Although these estimates are based on the Company&#x2019;s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b><i>Segment Information&#xA0;</i></b>&#x2013; Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company views its operations and manages its business in one segment, which is the identification and development of a treatment for diseases related to high levels of free aldehydes.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b><i>Cash and Cash Equivalents</i></b>&#xA0;&#x2013; The Company considers all investments purchased with an original maturity of three months or less when acquired to be cash equivalents.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b><i>Fair Value of Financial Instruments</i></b>&#xA0;&#x2013; Financial instruments including cash and cash equivalents approximate their fair value based on the short maturities of those instruments. The carrying amount of the Company&#x2019;s term loans under its credit facility approximates market rates currently available to the Company. The fair value of our derivative instruments, including warrants and forms of preferred stock purchase rights, are more fully described in Note 4.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b><i>Concentration of Credit Risk</i></b>&#xA0;&#x2013; The Company&#x2019;s financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents. Substantially all of the Company&#x2019;s cash is held at one financial institution that management believes to be of high-credit quality. Deposits with these financial institutions may exceed the amount of insurance provided on such deposits; however, these deposits may be redeemed upon demand and, therefore, bear minimal risk.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b><i>Intellectual Property</i></b>&#xA0;&#x2013; The legal and professional costs incurred by the Company to acquire its patent rights are expensed as incurred and included in operating expenses. At December&#xA0;31, 2014 and 2013, the Company has determined that these expenses have not met the criteria to be capitalized. Intellectual property related expenses for the years ended December&#xA0;31, 2014 and 2013 were $184,517 and $189,965, respectively.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b><i>Income Taxes</i></b>&#xA0;&#x2013; The Company follows the provisions of FASB ASC 740,&#xA0;<i>Income Taxes</i>, in reporting deferred income taxes. ASC 740 requires a company to recognize deferred tax liabilities and assets for expected future income tax consequences of events that have been recognized in the Company&#x2019;s financial statements. Under this method, deferred tax assets and liabilities are determined based on temporary differences between financial statement carrying amounts and the tax basis of assets and liabilities using enacted tax rates in the years in which the temporary differences are expected to reverse. Valuation allowances are provided if based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> The Company accounts for uncertain tax positions pursuant to ASC 740 which prescribes a recognition threshold and measurement process for financial statement recognition of uncertain tax positions taken or expected to be taken in a tax return. If the tax position meets this threshold, the benefit to be recognized is measured as the tax benefit having the highest likelihood of being realized upon ultimate settlement with the taxing authority. The Company recognizes interest accrued related to unrecognized tax benefits and penalties in the provision for income taxes. Management is not aware of any uncertain tax positions.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b><i>Research and Development Costs</i></b>&#xA0;&#x2013; Research and development costs are charged to expense as incurred. Research and development expenses include consulting expenses, preclinical studies, clinical trials, clinical trial materials, regulatory and clinical consultants, lab supplies, lab services, lab equipment maintenance and small equipment purchased to support the research laboratory. Research and development costs that are paid in advance of performance are capitalized as a prepaid expense until incurred.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b><i>Stock-Based Compensation</i></b>&#xA0;&#x2013; Stock-based payments are accounted for in accordance with the provisions of ASC 718,&#xA0;<i>Compensation &#x2013; Stock Compensation</i>. For options, the fair value of stock-based payments is estimated, on the date of grant, using the Black-Scholes option pricing model. For restricted stock, fair value is based on the fair value of the stock on the date of grant. The resulting fair value for restricted stock and options is recognized ratably over the requisite service period, which is generally the vesting period of the applicable restricted stock or option.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> Equity instruments issued to nonemployees are accounted for under the provisions of ASC 718 and ASC 505-50,&#xA0;<i>Equity &#x2013; Equity-Based Payments to Non-Employees</i>. Accordingly, the estimated fair value of the equity instrument is recorded on the earlier of the performance commitment date or the date the services are completed and are marked to market through the date of vesting.</p> <p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> &#xA0;</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> From time to time the Company may grant awards with performance conditions necessary to be achieved in order to vest in the award. The company records compensation expense for those awards over the vesting period of the award to the extent the performance conditions are deemed probable of achievement.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> From time to time the Company may grant awards with a market condition necessary to be achieved in order to vest in the award. The Company records compensation expense for those awards over the vesting period of the award on a straight-line basis utilizing Monte Carlo simulations to estimate the timing and number of shares that are most likely to vest.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b><i>Comprehensive (Loss) Income&#xA0;</i></b>&#x2013; Comprehensive (loss) income is defined as the change in equity (deficit) during a period from transactions and other events and/or circumstances from non-owner sources. For all periods presented, comprehensive (loss) income is equal to net (loss) income.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b><i>Net (Loss) Income Applicable to Common Stock</i></b>&#xA0;&#x2013; The Company computes net (loss) income per share in accordance with the two-class method. Under the two-class method, net income is allocated between common stock and other participating securities based on their participation rights. The Company has determined that their outstanding Series A and Series B Preferred Stock represents a participating security and as such the preferred shares are excluded from basic earnings per share. Net losses are not allocated to the preferred stockholders for computing net loss per share under the two-class method because preferred stockholders do not have contractual obligations to share in the losses of the Company. Basic earnings per share is calculated by dividing income allocable to common stockholders (after reduction for preferred stock dividends assuming current income for the period had been distributed) by the weighted average number of common stock outstanding.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> Diluted net (loss) income per share is computed using the more dilutive of (a)&#xA0;the two-class method, or (b)&#xA0;the if-converted method or treasury stock method, as applicable, to the potentially dilutive instruments. The Company allocates net income first to preferred stockholders based on dividend rights and then to common and preferred stockholders based on ownership interests. The weighted-average number of common shares outstanding gives effect to all potentially dilutive common equivalent shares, including outstanding stock options and restricted stock, warrants, rights to purchase additional shares of preferred stock, rights for warrants to purchase preferred stock and convertible debt.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b><i>Recent Accounting Pronouncements&#xA0;</i></b>&#x2013; In August 2014, the FASB issued Accounting Standards Update (ASU) No.&#xA0;2014-15, Going Concern (ASU 2014-15). ASU 2014-15 provides GAAP guidance on management&#x2019;s responsibility in evaluating whether there is substantial doubt about a company&#x2019;s ability to continue as a going concern and about related footnote disclosures. For each reporting period, management will be required to evaluate whether there are conditions or events that raise substantial doubt about a company&#x2019;s ability to continue as a going concern within one year from the date the financial statements are issued. The standard will be effective for annual periods ending after December&#xA0;15, 2016, and interim periods within annual periods beginning after December&#xA0;15, 2016. Early application is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. Upon adoption the Company will use the guidance in ASU 2014-15 to assess going concern.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> In June 2014, the Financial Accounting Standards Board (FASB) amended its guidance on development stage entities ASU No.&#xA0;2014-10<i>&#xA0;Development Stage Entities (Topic 915); Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities, Guidance in Topic 810, Consolidation</i>&#xA0;(ASU 2014-10). The amendment removed all incremental financial reporting requirements from GAAP for development stage entities. ASU 2014-10 is effective for interim and annual periods beginning after December&#xA0;15, 2014, with early adoption permitted. The Company adopted this guidance in the quarterly period ended June&#xA0;30, 2014. Prior to the Company&#x2019;s adoption of this guidance, the Company was a development stage entity because it devoted substantially all of its efforts to research and development of products to treat diseases for which planned principal operations have not commenced. The adoption of this guidance did not have a material impact on the Company&#x2019;s financial position, results of operations or cash flows other than the removal of inception-to-date information about income statement line items, cash flows, and equity transactions.</p> <p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> &#xA0;</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 62px; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> In May 2014, the FASB issued ASU No.&#xA0;2014-09,&#xA0;<i>Revenue from Contracts with Customers</i>&#xA0;(ASU 2014-09). The amendments in ASU 2014-09 provide for a single, principles-based model for revenue recognition that replaces the existing revenue recognition guidance. ASU 2014-09 is effective for annual and interim periods beginning on or after December&#xA0;15, 2016 and will replace most existing revenue recognition guidance under GAAP when it becomes effective. It permits the use of either a retrospective or cumulative effect transition method and early adoption is not permitted. As the Company has not generated revenues, the Company has not yet selected a transition method and is in the process of evaluating the effect this standard will have on its financial statements and related disclosures.</p> </div>
CY2014 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0582 pure
CY2014 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
-0.0439 pure
CY2014 us-gaap Lessee Leasing Arrangements Operating Leases Term Of Contract
LesseeLeasingArrangementsOperatingLeasesTermOfContract
P37M
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
264190 shares
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
1.00 pure
CY2014 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt"> <b><i>Use of Estimates</i></b> &#x2013; The preparation of financial statements in conformity with US&#xA0;GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. The Company evaluates its estimates and assumptions on an ongoing basis. The most significant estimates in the Company&#x2019;s financial statements relate to accruals, including research and development costs, accounting for income taxes and the related valuation allowance, estimating the fair value of the Company&#x2019;s common and preferred stock, preferred stock warrants, purchase rights and warrant purchase rights, and accounting for stock based compensation and the related fair value. Although these estimates are based on the Company&#x2019;s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions.</p> </div>
CY2014 dei Document Period End Date
DocumentPeriodEndDate
2014-12-31
CY2014 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.5376 pure
CY2014 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.1526 pure
CY2014 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
32455 shares
CY2014 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2014 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1395947 shares
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y8M27D
CY2014 dei Amendment Flag
AmendmentFlag
false
CY2014 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3850612 shares
CY2014 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.51
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y5M19D
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.84
CY2014 dei Entity Central Index Key
EntityCentralIndexKey
0001341235
CY2014 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34 pure
CY2014 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2014 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3818157 shares
CY2014 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
9976907
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1800000
CY2014 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
200000
CY2014 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-11901413
CY2014 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
1395833
CY2014 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
224156
CY2014 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
170000
CY2014 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt"> <b><i>Concentration of Credit Risk</i></b> &#x2013; The Company&#x2019;s financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents. Substantially all of the Company&#x2019;s cash is held at one financial institution that management believes to be of high-credit quality. Deposits with these financial institutions may exceed the amount of insurance provided on such deposits; however, these deposits may be redeemed upon demand and, therefore, bear minimal risk.</p> </div>
CY2014 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Research And Development
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseResearchAndDevelopment
0.0307 pure
CY2014 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Segment
CY2014 us-gaap Operating Income Loss
OperatingIncomeLoss
-7270590
CY2014 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
2327502
CY2014 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2083331
CY2014 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
170000
CY2014 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
14062
CY2014 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9573911
CY2014 us-gaap Net Income Loss
NetIncomeLoss
-5187259
CY2014 us-gaap Investment Income Interest
InvestmentIncomeInterest
3
CY2014 us-gaap Interest Paid
InterestPaid
96794
CY2014 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2037073
CY2014 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2037073
CY2014 us-gaap Interest Expense
InterestExpense
244174
CY2014 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3707544
CY2014 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
4053570
CY2014 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
5264950
CY2014 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-2327502
CY2014 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2014 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
5604
CY2014 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
333082
CY2014 us-gaap Convertible Preferred Stock Converted To Other Securities
ConvertiblePreferredStockConvertedToOtherSecurities
-38650380
CY2014 us-gaap Depreciation
Depreciation
1069
CY2014 us-gaap Increase Decrease In Notes Payable Related Parties
IncreaseDecreaseInNotesPayableRelatedParties
-2125
CY2014 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
10055006
CY2014 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
10055006
CY2014 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
340372
CY2014 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
150852
CY2014 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
776613
CY2014 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-14062
CY2014 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3563046
CY2014 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-559
CY2014 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
10100000
CY2014 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
1395833
CY2014 us-gaap Share Based Compensation
ShareBasedCompensation
2037073
CY2014 aldx Issuance Of Common Stock Upon Cashless Net Exercise Of Warrant
IssuanceOfCommonStockUponCashlessNetExerciseOfWarrant
1191365
CY2014 aldx Deemed Dividend Preferred Stock
DeemedDividendPreferredStock
4053570
CY2014 aldx Investment Maturity Period
InvestmentMaturityPeriod
Three months or less
CY2014 aldx Interest Payment Period For Line Of Credit Facility
InterestPaymentPeriodForLineOfCreditFacility
November 2013 through November 2014
CY2014 aldx Deferred Offering Costs Not Yet Paid
DeferredOfferingCostsNotYetPaid
14238
CY2014 aldx License Agreement Termination Description
LicenseAgreementTerminationDescription
The license and supply agreement runs through the 7th anniversary of the expiration of all patents licensed under the agreement, which the Company estimates to be April 2036, unless terminated earlier.
CY2014 aldx Payment Of Underwriting Discounts And Commissions
PaymentOfUnderwritingDiscountsAndCommissions
800000
CY2014 aldx Lease Agreement Area Of Office Space
LeaseAgreementAreaOfOfficeSpace
3700 sqft
CY2014 aldx Change In Fair Value Of Warrant Liabilities Purchase Right And Warrant Purchase Rights
ChangeInFairValueOfWarrantLiabilitiesPurchaseRightAndWarrantPurchaseRights
-2327502
CY2014 aldx Net Operating Loss Carry Forwards Expiration Year
NetOperatingLossCarryForwardsExpirationYear
2034
CY2014 aldx Loan Repayment Term
LoanRepaymentTerm
P36M
CY2014 aldx Deferred Tax Assets Tax Credit Carryforwards Research Expiration Year
DeferredTaxAssetsTaxCreditCarryforwardsResearchExpirationYear
2034
CY2014 aldx Line Of Credit Facility Maturity Month And Year
LineOfCreditFacilityMaturityMonthAndYear
2016-11
CY2014 aldx Deferred Tax Assets Valuation Allowance Percentage
DeferredTaxAssetsValuationAllowancePercentage
1.00 pure
CY2014 aldx Accretion Of Discounts And Issuance Costs On Preferred Stock
AccretionOfDiscountsAndIssuanceCostsOnPreferredStock
333082
CY2014 aldx Initial Public Offering Date Of Completion
InitialPublicOfferingDateOfCompletion
2014-05-07
CY2014 aldx Net Exercise Of Common Stock Warrants
NetExerciseOfCommonStockWarrants
1191365
CY2014 aldx Number Of Incentive Plans
NumberOfIncentivePlans
3 Incentive_Plan
CY2014 aldx Warrants Issued To Underwriter In Initial Public Offering
WarrantsIssuedToUnderwriterInInitialPublicOffering
315388
CY2014 aldx Prepaid Offering And Printing Costs
PrepaidOfferingAndPrintingCosts
1000000
CY2014 aldx Contributed Services Description
ContributedServicesDescription
During the period from January 6, 2012 through October 14, 2013, he was not paid a salary by the Company and was an employee and paid a salary by Domain Associates, LLC ("Domain"), a related party. The value of his services has been reflected in the statement of operations as an expense and recorded as a contribution of capital.
CY2012 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
15700000

Files In Submission

Name View Source Status
0001193125-15-101703-index-headers.html Edgar Link pending
0001193125-15-101703-index.html Edgar Link pending
0001193125-15-101703.txt Edgar Link pending
0001193125-15-101703-xbrl.zip Edgar Link pending
aldx-20141231.xml Edgar Link completed
aldx-20141231.xsd Edgar Link pending
aldx-20141231_cal.xml Edgar Link unprocessable
aldx-20141231_def.xml Edgar Link unprocessable
aldx-20141231_lab.xml Edgar Link unprocessable
aldx-20141231_pre.xml Edgar Link unprocessable
d851682d10k.htm Edgar Link pending
d851682dex231.htm Edgar Link pending
d851682dex311.htm Edgar Link pending
d851682dex312.htm Edgar Link pending
d851682dex321.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
g851682g41w55.jpg Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending