|
Consolidated Statements of Operations and Comprehensive Loss (USD $)
|
12 Months Ended | 45 Months Ended | ||
|---|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2013
|
|
| Expenses | ||||
| Research and development | $ 2,342,654 | $ 1,550,490 | $ 1,051,139 | $ 4,985,940 |
| General and administrative | 3,952,307 | 1,154,604 | 241,802 | 5,416,312 |
| Operating expenses, total | 6,294,961 | 2,705,094 | 1,292,941 | 10,402,252 |
| Other (income) loss | ||||
| Change in fair value of derivative liability | (1,324,051) | (318,502) | (1,642,553) | |
| Issuance of common shares to Valent for future royalty reduction | 598,000 | 598,000 | ||
| Derivative issuance costs | 2,713,220 | 24,742 | 2,737,962 | |
| Foreign exchange loss (gain) | 3,030 | (18,492) | 18,137 | 2,178 |
| Interest expense | 8,020 | 7,521 | 21,933 | 37,474 |
| Interest income | (2,491) | (2,491) | ||
| Nonoperating Income (Expense) | 1,995,728 | (304,731) | 40,070 | 1,730,570 |
| Net loss for the period | 8,290,689 | 2,400,363 | 1,333,011 | 12,132,822 |
| Basic and diluted loss per share | $ (0.28) | $ (0.18) | $ (0.16) | |
| Weighted average number of shares | 29,667,324 | 13,232,349 | 8,527,466 | |
| Comprehensive loss | ||||
| Net loss | 8,290,689 | 2,400,363 | 1,333,011 | 12,132,822 |
| Other comprehensive loss (income) | ||||
| Translation to US dollar presentation currency | 21,121 | (40,711) | (21,178) | |
| Comprehensive loss | $ 8,290,689 | $ 2,421,484 | $ 1,292,300 | $ 12,111,644 |