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CONDENSED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenue:        
License revenue $ 0 $ 150,000 $ 0 $ 150,000
Expenses:        
Research and development 2,686,465 1,886,652 7,087,980 6,707,360
General and administrative 2,091,856 2,026,602 4,006,572 4,174,061
Total Expenses 4,778,321 3,913,254 11,094,552 10,881,421
Loss before other income (expense) (4,778,321) (3,763,254) (11,094,552) (10,731,421)
Other income (expense):        
Interest income 27,547 50,270 63,005 105,699
Other income, net 16,491 15,619 50,551 52,650
Loss (gain) on warrant derivative liabilities (8,528,192) 577,290 (12,416,358) 1,177,762
Loss before provision for income taxes (13,262,475) (3,120,075) (23,397,354) (9,395,310)
Provision for income taxes 0 0 0 0
Net loss (13,262,475) (3,120,075) (23,397,354) (9,395,310)
Other comprehensive income (net of tax)        
Unrealized gain on available-for-sale securities 0 379,260 0 379,260
Comprehensive loss $ (13,262,475) $ (2,740,815) $ (23,397,354) $ (9,016,050)
Basic and diluted net loss per share (in dollars per share) $ (0.63) $ (0.20) $ (1.10) $ (0.60)
Basic and diluted weighted-average shares outstanding (in shares) 21,204,499 15,603,867 21,203,754 15,603,812