Annual report pursuant to Section 13 and 15(d)

Related Party Transactions

v2.4.0.8
Related Party Transactions
 12 Months Ended
Dec. 31, 2013
Related Party Transactions [Abstract]  
Related Party Transactions
9. Related Party Transactions
 
Placement Agent
 
Paramount BioCapital, Inc. (“PBC”), is an affiliate of our Chairman, President and Chief Executive Officer and one of our principal stockholders. PBC acted as placement agent for the private placement of the Company’s Senior Convertible Notes, PCP Notes, and Series A Shares (see Note 10). For the services rendered, PBC received cash payments for commissions and reimbursement of expenses as well as warrants to purchase common stock (see Notes 10 and 12).
 
Other Related Parties
 
Our Chairman, President and Chief Executive Officer, individually and through certain trusts over which he has voting and dispositive control, beneficially owned approximately 14.1% of the Company’s issued and outstanding common stock as of December 31, 2013 and 2012.  Our Executive Vice Chairman, Strategic Development individually owns approximately 15.0% of the Company at February 20, 2014.
 
National Securities Corporation, or National, the placement agent for our Series C Share financing, is a related party to the Principal Stockholder/Director, President and Chief Executive Officer of the Company. National acted as an underwriter of our June 2012 public offering of common stock and received related commissions of $187,000 in connection with the offering.