Annual report pursuant to Section 13 and 15(d)

Related Party Transactions

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Related Party Transactions
 12 Months Ended
Dec. 31, 2012
Related Party Transactions [Abstract]  
Related Party Transactions

9. Related Party Transactions

Placement Agent

Paramount BioCapital, Inc. (“PBC”), an affiliate of the Principal Stockholder/Director of the Company, 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

The Principal Stockholder/Director, individually and through certain trusts owned in excess of 10% of the Company’s issued and outstanding common stock as of December 31, 2012. In addition, certain trusts established for the benefit of family members of the Principal Stockholder/Director beneficially owned an aggregate of approximately 6.0% of the Company’s outstanding capital stock as of December 31, 2012.

 

National Securities Corporation, placement agent for our Series C Share financing (see Note 11), is a related party to the Principal Stockholder/Director. National Securities Corporation, or National, acted as an underwriter of our June 2012 public offering of common stock. National received related commissions of $187,000 in connection with the offering.