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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
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3 Months Ended | 9 Months Ended | ||
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Sep. 30, 2014
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Sep. 30, 2013
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Sep. 30, 2014
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Sep. 30, 2013
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| COSTS AND EXPENSES: | ||||
| Research and development | $ 1,470,297us-gaap_ResearchAndDevelopmentExpense | $ 2,066,827us-gaap_ResearchAndDevelopmentExpense | $ 4,566,403us-gaap_ResearchAndDevelopmentExpense | $ 5,306,277us-gaap_ResearchAndDevelopmentExpense |
| General and administrative | 802,794us-gaap_GeneralAndAdministrativeExpense | 843,622us-gaap_GeneralAndAdministrativeExpense | 2,849,714us-gaap_GeneralAndAdministrativeExpense | 3,039,074us-gaap_GeneralAndAdministrativeExpense |
| Restructuring costs | 0us-gaap_RestructuringCosts | 0us-gaap_RestructuringCosts | 221,815us-gaap_RestructuringCosts | 0us-gaap_RestructuringCosts |
| Total costs and expenses | 2,273,091us-gaap_CostsAndExpenses | 2,910,449us-gaap_CostsAndExpenses | 7,637,932us-gaap_CostsAndExpenses | 8,345,351us-gaap_CostsAndExpenses |
| LOSS FROM OPERATIONS | (2,273,091)us-gaap_OperatingIncomeLoss | (2,910,449)us-gaap_OperatingIncomeLoss | (7,637,932)us-gaap_OperatingIncomeLoss | (8,345,351)us-gaap_OperatingIncomeLoss |
| OTHER INCOME (EXPENSE): | ||||
| Gain on revaluation of derivative warrants | 2,850,171us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet | 1,597,372us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet | 3,368,977us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet | 2,263,756us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet |
| Loss on issuance of derivative warrants | 0us-gaap_DerivativeGainLossOnDerivativeNet | 0us-gaap_DerivativeGainLossOnDerivativeNet | 0us-gaap_DerivativeGainLossOnDerivativeNet | (744,957)us-gaap_DerivativeGainLossOnDerivativeNet |
| Interest expense, net | (253,058)us-gaap_InterestIncomeExpenseNonoperatingNet | (2,241)us-gaap_InterestIncomeExpenseNonoperatingNet | (436,272)us-gaap_InterestIncomeExpenseNonoperatingNet | (7,107)us-gaap_InterestIncomeExpenseNonoperatingNet |
| Total other income (expense), net | 2,597,113us-gaap_NonoperatingIncomeExpense | 1,595,131us-gaap_NonoperatingIncomeExpense | 2,932,705us-gaap_NonoperatingIncomeExpense | 1,511,692us-gaap_NonoperatingIncomeExpense |
| NET INCOME (LOSS) | $ 324,022us-gaap_NetIncomeLoss | $ (1,315,318)us-gaap_NetIncomeLoss | $ (4,705,227)us-gaap_NetIncomeLoss | $ (6,833,659)us-gaap_NetIncomeLoss |
| BASIC AND DILUTED NET INCOME (LOSS) PER COMMON SHARE (in dollars per share) | $ 0.06us-gaap_EarningsPerShareBasicAndDiluted | $ (0.46)us-gaap_EarningsPerShareBasicAndDiluted | $ (1.31)us-gaap_EarningsPerShareBasicAndDiluted | $ (2.47)us-gaap_EarningsPerShareBasicAndDiluted |
| SHARES USED IN COMPUTING BASIC AND DILUTED NET LOSS PER COMMON SHARE (in shares) | 5,012,206us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted | 2,869,739us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted | 3,591,742us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted | 2,769,167us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted |
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- Definition
Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of realized and unrealized gain (loss) of derivative instruments not designated or qualifying as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The net amount of nonoperating interest income (expense). No definition available.
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Details
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition
The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount, after cash payment, of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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