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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Revenue:      
Licensing revenue $ 100,000 $ 250,000 $ 100,000
Expenses:      
Research and development 12,684,793 15,491,301 8,506,937
General and administrative 8,353,330 7,317,169 8,235,993
Depreciation and amortization 113,936 95,517 107,666
Total Expenses 21,152,059 22,903,987 16,850,596
Loss before other income (21,052,059) (22,653,987) (16,750,596)
Other income:      
Interest income 131,666 207,217 303,592
Other income, net 191,416 205,194 95,827
Gain on warrant liability 2,766,704 7,915,027 933,420
Gain on sale of affiliate's shares - RXi Pharmaceutical 0 0 15,826,217
Net (loss) income before provision for income taxes (17,962,273) (14,326,549) 408,460
Income tax expense (1,600) (97,996) 0
Net (loss) income $ (17,963,873) $ (14,424,545) $ 408,460
Basic and diluted (loss) income per share (in dollars per share) $ (0.78) $ (0.8) $ 0.03
Basic weighted average shares outstanding (in shares) 22,973,905 17,935,895 15,640,642
Diluted weighted average shares outstanding (in shares) 22,973,905 17,935,895 15,920,326