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STOCK-BASED COMPENSATION (Tables)
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12 Months Ended |
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Dec. 31, 2013
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
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| 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 recorded in connection with stock options granted to non-employee consultants:
| | | Year Ended
December 31, | | | Cumulative
Development-
Stage Period
from
November 7,
2002 through
December 31, | | | | | 2013 | | 2012 | | 2013 | | | Employee and director stock option grants: | | | | | | | | | | | | Research and development | | $ | 355,012 | | $ | 319,703 | | $ | 1,163,273 | | | General and administrative | | | 1,229,617 | | | 1,010,605 | | | 4,388,409 | | | Restructuring costs | | | 705,518 | | | — | | | 705,518 | | | | | | 2,290,147 | | | 1,330,308 | | | 6,257,200 | | | Non-employee consultant stock option grants: | | | | | | | | | | | | Research and development | | | 21,516 | | | 79,879 | | | 137,552 | | | General and administrative | | | 11,570 | | | 93,110 | | | 286,651 | | | | | | 33,086 | | | 172,989 | | | 424,203 | | | Total stock-based compensation | | $ | 2,323,233 | | $ | 1,503,297 | | $ | 6,681,403 | |
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| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [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:
| | | Year Ended
December 31,
2013 | | | Year Ended
December 31,
2012 | | | | Volatility | | | 109 | % | | | 109% -115 | % | | | Risk-free interest rate | | | 0.92% - 2.05 | % | | | 0.7% - 0.925 | % | | | Expected life (years) | | | 5.75 - 6.55 | | | | 5.06 - 6.25 | | | | Dividend | | | 0 | % | | | 0 | % | | | Weighted-average exercise price | | $ | 0.46 | | | $ | 0.75 | | | | Weighted-average grant-date fair value | | $ | 0.28 | | | $ | 0.62 | | |
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| Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] |
A summary of stock option activity 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 | | — | | | | | | | | | | | Options acquired in a business combination | | 49,159 | | $ | 100.52 | | | | | | | | Granted | | 6,240,083 | | $ | 1.35 | | | | | | | | Canceled | | (1,001,728) | | $ | 3.80 | | | | | | | | Forfeited | | (459,876) | | $ | 2.46 | | | | | | | | Outstanding at December 31, 2011 | | 4,827,638 | | $ | 1.82 | | | | | | | | Granted | | 1,956,650 | | $ | 0.75 | | | | | | | | Canceled | | (1,666) | | $ | 0.45 | | | | | | | | Forfeited | | (343,434) | | $ | 1.38 | | | | | | | | Outstanding at December 31, 2012 | | 6,439,188 | | $ | 1.52 | | | | | | | | Granted | | 6,885,573 | | $ | 0.46 | | | | | | | | Canceled | | (189,040) | | $ | 5.89 | | | | | | | | Forfeited | | (442,555) | | $ | 0.78 | | | | | | | | Outstanding at December 31, 2013 | | 12,693,166 | | $ | 0.91 | | | | | | | | | | | | | | | | | | | | | Vested, December 31, 2013 | | 4,906,718 | | $ | 1.55 | | 4.17 | | $ | 0 | | | Unvested, December 31, 2013 | | 7,786,448 | | $ | 0.50 | | 9.64 | | $ | 134,400 | | | Exercisable at December 31, 2013 | | 4,906,718 | | $ | 1.55 | | 4.17 | | $ | 0 | |
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