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VITAE PHARMACEUTICALS, INC filed this Form S-1 on 08/12/2014
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we may develop, in-license or acquire in the future. We do not anticipate generating revenue from the sale of products for the foreseeable future. Our ability to generate future product revenue from our current or future product candidates also depends on a number of additional factors, including our or our partners' ability to:

    successfully complete research and clinical development of current and future product candidates;
    establish and maintain supply and manufacturing relationships with third parties, and ensure adequate and legally compliant manufacturing of bulk drug substances and drug products to maintain that supply;
    obtain marketing approval from relevant regulatory authorities in jurisdictions where we or our partners intend to market our product candidates;
    launch and commercialize future product candidates for which we or our partners obtain marketing approval, if any, and if launched independently, successfully establish a sales force, marketing and distribution infrastructure;
    obtain coverage and adequate product reimbursement from third-party payors, including government payors;
    achieve market acceptance for our or our partners' products, if any;
    establish, maintain and protect our intellectual property rights; and
    attract, hire and retain qualified personnel.

        In addition, because of the numerous risks and uncertainties associated with biotechnology product development, including that our product candidates may not advance through development or achieve the endpoints of applicable clinical trials, we are unable to predict the timing or amount of any potential future product sales revenues. In addition, our expenses could increase beyond expectations if we decide to or are required by the U.S. Food and Drug Administration, or FDA, or foreign regulatory authorities to perform studies or trials in addition to those that we currently anticipate. Even if we complete the development and regulatory processes described above, we anticipate incurring significant costs associated with launching and commercializing these products.

We will require substantial additional financing to achieve our goals, and a failure to obtain this necessary capital when needed could force us to delay, limit, reduce or terminate our product development or commercialization efforts.

        As of June 30, 2014, our cash, cash equivalents and marketable securities were approximately $18.1 million. We believe that we will continue to expend substantial resources for the foreseeable future as we continue to develop VTP-43742, VTP-38443, VTP-38543 and any future product candidates. These expenditures will include costs associated with research and development, potentially acquiring new technologies, conducting preclinical studies and clinical trials, seeking regulatory approvals and manufacturing products, as well as marketing and selling products approved for sale, if any. In addition, other unanticipated costs may arise. Because the outcome of our planned and anticipated clinical trials is highly uncertain, we cannot reasonably estimate the actual amounts necessary to successfully complete the development and commercialization of our product candidates.

        BI pays all of the development, manufacturing and commercialization costs and certain patent costs in connection with the activities carried out under our VTP-34072 and VTP-37948 collaborations. Other than those costs, our future capital requirements depend on many factors, some of which may be beyond our control, including:

    the scope, progress, results and costs of researching and developing our other product candidates, and conducting preclinical studies and clinical trials;
    the timing of, and the costs involved in, obtaining regulatory approvals for our other product candidates if clinical trials are successful;
    the timing, receipt, and amount of milestone payments on VTP-34072 and VTP-37948;