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Consolidated Statements of Cash Flows (USD $)
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities:    
Net loss $ (2,166,174) $ (2,368,664)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 12,218 21,867
Stock-based compensation 183,398 922,918
Change in assets and liabilities:    
Royalty receivables (175,015) (150,851)
Prepaid expenses and other current assets 71,476 132,302
Deferred revenue (2,500) 102,500
Accounts payable and accrued expenses 167,873 22,447
Net cash used in operating activities (1,908,724) (1,317,481)
Cash flows from investing activities:    
Purchases of fixed assets (44,520) (35,743)
Change in short term investments (2,545) (6,535)
Net cash used in investing activities (47,065) (42,278)
Cash flows from financing activities:    
Net proceeds from sale of common stock 3,278,250   
Net proceeds from exercise of options and warrants 304,788   
Net cash provided by financing activities 3,583,038   
Net increase (decrease) in cash and cash equivalents 1,627,249 (1,359,759)
Cash and cash equivalents at beginning of year 5,866,123 8,390,233
Cash and cash equivalents at end of period $ 7,493,372 $ 7,030,474