| Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] |
The following table summarizes amounts charged to expense for stock-based compensation related to employee and director stock option grants and stock-based compensation recorded in connection with stock options granted to non-employee consultants:
| |
|
Nine Months Ended
September 30,
(unaudited) |
|
|
Year Ended
December 31, |
|
|
Cumulative
Development-
Stage Period
from
November 7,
2002 through
December 31, |
|
| |
|
2012 |
|
|
2011 |
|
|
2011 |
|
|
2010 |
|
|
2011 |
|
| Employee and director stock option grants: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Research and development |
|
$ |
234,816 |
|
|
$ |
121,393 |
|
|
$ |
190,172 |
|
|
$ |
61,791 |
|
|
$ |
488,558 |
|
| General and administrative |
|
|
747,808 |
|
|
|
349,781 |
|
|
|
570,884 |
|
|
|
291,549 |
|
|
|
2,148,187 |
|
| |
|
|
982,624 |
|
|
|
471,174 |
|
|
|
761,056 |
|
|
|
353,340 |
|
|
|
2,636,745 |
|
| Non-employee consultant stock option grants: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Research and development |
|
|
85,265 |
|
|
|
46,851 |
|
|
|
36,157 |
|
|
|
— |
|
|
|
36,157 |
|
| General and administrative |
|
|
92,022 |
|
|
|
137,631 |
|
|
|
110,247 |
|
|
|
— |
|
|
|
181,971 |
|
| |
|
|
177,287 |
|
|
|
184,482 |
|
|
|
146,404 |
|
|
|
— |
|
|
|
218,128 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total stock-based compensation |
|
$ |
1,159,911 |
|
|
$ |
655,656 |
|
|
$ |
907,460 |
|
|
$ |
353,340 |
|
|
$ |
2,854,873 |
|
| Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] |
The following table summarizes weighted-average values and assumptions used for options granted to employees, directors and consultants in the periods indicated:
| |
|
Nine Months
Ended September 30,
2012 |
|
|
Nine Months
Ended
September 30,
2011 |
|
|
Twelve Months
Ended
December 31, 2011 |
|
| Volatility |
|
|
115 |
% |
|
|
110 |
% |
|
|
110 - 115 % |
|
| Risk-free interest rate |
|
|
0.925 |
% |
|
|
1.84%-3.17 |
% |
|
|
0.89% – 3.17 |
% |
| Expected life (years) |
|
|
6.0 |
|
|
|
5.5 – 6.25 |
|
|
|
5.5 – 6.25 |
|
| Dividend |
|
|
0 |
% |
|
|
0 |
% |
|
|
0 |
% |
| Weighted-average exercise price |
|
$ |
1.00 |
|
|
$ |
1.45 |
|
|
$ |
1.16 |
|
| Weighted-average grant-date fair value |
|
$ |
0.85 |
|
|
$ |
1.22 |
|
|
$ |
0.98 |
|
|
| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] |
A summary of stock option activity under stock option plans is as follows:
| |
|
Number of
Shares
Issuable Upon
Exercise of
Outstanding
Options |
|
|
Weighted
Average
Exercise Price |
|
|
Weighted
Average
Remaining
Contracted
Term in
Years |
|
|
Aggregate
Intrinsic
Value |
|
| Outstanding at November 7, 2002 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Granted |
|
|
922,654 |
|
|
$ |
2.52 |
|
|
|
|
|
|
|
|
|
| Forfeited |
|
|
(12,653 |
) |
|
$ |
3.04 |
|
|
|
|
|
|
|
|
|
| Outstanding at January 1, 2009 |
|
|
910,001 |
|
|
$ |
2.86 |
|
|
|
|
|
|
|
|
|
| Granted |
|
|
90,929 |
|
|
$ |
0.76 |
|
|
|
|
|
|
|
|
|
| Forfeited |
|
|
(9,194 |
) |
|
$ |
2.72 |
|
|
|
|
|
|
|
|
|
| Outstanding at December 31, 2009 |
|
|
991,736 |
|
|
$ |
2.68 |
|
|
|
|
|
|
|
|
|
| Canceled |
|
|
(222,547 |
) |
|
$ |
2.63 |
|
|
|
|
|
|
|
|
|
| Outstanding at December 31, 2010 |
|
|
769,189 |
|
|
$ |
2.69 |
|
|
|
|
|
|
|
|
|
| Canceled |
|
|
(769,189 |
) |
|
$ |
2.69 |
|
|
|
|
|
|
|
|
|
| Options acquired in connection with a business combination |
|
|
49,159 |
|
|
$ |
100.52 |
|
|
|
|
|
|
|
|
|
| Granted |
|
|
5,226,500 |
|
|
$ |
1.16 |
|
|
|
|
|
|
|
|
|
| Canceled |
|
|
(9,992 |
) |
|
$ |
115.16 |
|
|
|
|
|
|
|
|
|
| Forfeited |
|
|
(438,029 |
) |
|
$ |
2.44 |
|
|
|
|
|
|
|
|
|
| Outstanding at December 31, 2011 |
|
|
4,827,638 |
|
|
$ |
1.82 |
|
|
|
|
|
|
|
|
|
| Granted |
|
|
24,000 |
|
|
$ |
1.00 |
|
|
|
|
|
|
|
|
|
| Forfeited |
|
|
(175,884 |
) |
|
$ |
1.36 |
|
|
|
|
|
|
|
|
|
| Outstanding at September 30, 2012 (unaudited) |
|
|
4,675,754 |
|
|
$ |
1.82 |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Vested, December 31, 2010 |
|
|
743,450 |
|
|
$ |
2.69 |
|
|
|
4.07 |
|
|
$ |
— |
|
| Unvested, December 31, 2010 |
|
|
25,739 |
|
|
$ |
2.62 |
|
|
|
5.08 |
|
|
$ |
— |
|
| Exercisable at December 31, 2010 |
|
|
743,450 |
|
|
$ |
2.69 |
|
|
|
4.07 |
|
|
$ |
— |
|
| Vested, December 31, 2011 |
|
|
636,634 |
|
|
$ |
6.48 |
|
|
|
9.17 |
|
|
$ |
— |
|
| Unvested, December 31, 2011 |
|
|
4,191,004 |
|
|
$ |
1.12 |
|
|
|
9.59 |
|
|
$ |
— |
|
| Exercisable at December 31, 2011 |
|
|
636,634 |
|
|
$ |
6.48 |
|
|
|
9.17 |
|
|
$ |
— |
|
| Vested, September 30, 2012 (unaudited) |
|
|
1,954,046 |
|
|
$ |
2.92 |
|
|
|
8.69 |
|
|
$ |
252,062 |
|
| Unvested, September 30, 2012 (unaudited) |
|
|
2,721,708 |
|
|
$ |
1.06 |
|
|
|
8.87 |
|
|
$ |
620,198 |
|
| Exercisable at September 30, 2012 (unaudited) |
|
|
1,954,046 |
|
|
$ |
2.92 |
|
|
|
8.69 |
|
|
$ |
252,062 |
|
|