|
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
|
3 Months Ended |
6 Months Ended |
61 Months Ended |
|
Jun. 30, 2012
|
Jun. 30, 2011
|
Jun. 30, 2012
|
Jun. 30, 2011
|
Jun. 30, 2012
|
| COSTS AND EXPENSES: |
|
|
|
|
|
| Research and development |
$ 827,788 |
$ 63,009 |
$ 1,225,416 |
$ 142,472 |
$ 3,177,370 |
| General and administrative |
1,023,150 |
292,823 |
1,785,887 |
727,038 |
6,041,134 |
| Total operating expenses |
1,850,939 |
355,832 |
3,011,303 |
869,510 |
9,218,504 |
| Operating Loss |
(1,850,939) |
(355,832) |
(3,011,303) |
(869,510) |
(9,218,504) |
| Gain on extinguishment of debt |
0 |
0 |
0 |
0 |
7,908 |
| Change in fair value of warrants liability |
(1,224,049) |
|
(1,177,026) |
|
(1,177,026) |
| Interest and other financing costs, net |
1,297 |
22 |
(900,349) |
44 |
(1,095,736) |
| NET LOSS |
$ (3,073,690) |
$ (355,810) |
$ (5,088,678) |
$ (869,466) |
$ (11,483,358) |
| Net loss per common share, basic and diluted (in dollars per share) |
$ (0.09) |
$ (0.02) |
$ (0.15) |
$ (0.05) |
|
| Weighted average common shares outstanding, basic and diluted (in shares) |
34,278,432 |
19,716,305 |
32,964,461 |
19,189,761 |
|