|
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
|
3 Months Ended |
9 Months Ended |
86 Months Ended |
|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
| Revenues |
$ 0 |
$ 0 |
$ 0 |
$ 0 |
$ 0 |
| Costs and expenses: |
|
|
|
|
|
| General and administrative, including $356,486 and $53,329 of stock-based expense for the three months ended September 30, 2012 and 2011, respectively, $$671,110 and $93,857 of stock-based expense for the nine months ended September 30, 2012 and 2011, respectively, and $$3,128,531 of stock-based expense for the period from August 9, 2005 (inception) to September 30, 2012 (cumulative) |
444,499 |
134,852 |
945,572 |
348,050 |
5,084,898 |
| Depreciation |
0 |
0 |
0 |
0 |
1,909 |
| Research and development, including $293,450 and $-0- of stock-based expense for the three months ended September 30, 2012 and 2011, respectively, $293,450 and $982 of stock-based expense for the nine months ended September 30, 2012 and 2011, respectively, and $758,484 of stock-based expense for the period from August 9, 2005 (inception) to September 30, 2012 (cumulative), respectively. |
393,670 |
364,389 |
884,485 |
850,043 |
4,442,134 |
| Reverse merger costs |
0 |
0 |
0 |
0 |
50,000 |
| Total costs and expenses |
838,169 |
499,241 |
1,830,057 |
1,198,093 |
9,578,941 |
| Loss from operations |
(838,169) |
(499,241) |
(1,830,057) |
(1,198,093) |
(9,578,941) |
| Interest income |
1 |
27 |
7 |
111 |
27,434 |
| Interest expense |
0 |
0 |
0 |
0 |
(2,469) |
| Fair value of warrant extensions |
(1,139,592) |
(199,839) |
(1,139,592) |
(199,839) |
(1,339,431) |
| Fair value of warrant discount |
0 |
0 |
(334,024) |
0 |
(334,024) |
| Liquidated damages under registration rights agreement |
0 |
0 |
0 |
0 |
(74,000) |
| Net loss |
$ (1,977,760) |
$ (699,053) |
$ (3,303,666) |
$ (1,397,821) |
$ (11,301,431) |
| Net loss per common share - basic and diluted (in dollars per share) |
$ (0.05) |
$ (0.02) |
$ (0.09) |
$ (0.04) |
|
| Weighted average common shares outstanding - basic and diluted (in shares) |
41,558,409 |
35,259,142 |
38,113,757 |
35,139,166 |
|