v2.4.0.6
CONDENSED STATEMENTS OF CASH FLOWS (USD $)
 3 Months Ended 68 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Mar. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (910,161) $ (1,975,038) $ (43,857,713)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation 96,662 79,490 2,421,542
Stock issued in connection with license agreements     6,613,718
Stock issued in connection with consulting agreement     158,262
Amortization of deferred financing costs     2,047,881
Amortization of debt discount     4,979,461
Non-cash charge for beneficial conversion feature     1,137,762
Non-cash interest expense     3,007,017
Expenses paid on behalf of the Company satisfied through the issuance of notes     51,253
Depreciation 1,755 3,042 51,775
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets 388,749 306,357 (156,891)
Security deposits     (13,342)
Accounts payable 416,105 154,274 1,424,598
Accrued expenses (122,679) (287,026) 173,833
Deferred rent (572) (571) 13,900
Net cash used in operating activities (130,141) (1,719,472) (21,946,944)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of equipment     (61,708)
Net cash used in investing activities     (61,708)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from notes payable to related parties     2,465,749
Proceeds from senior convertible notes     13,364,973
Proceeds from Galenica, Ltd. promissory note     1,000,000
Deferred financing costs     (1,447,400)
Repayment of amounts loaned under related party notes     (1,981,574)
Proceeds from sale of equity securities, net of issuance costs     10,457,270
Proceeds from receipt of stock subscriptions and issuances of common stock     4,827
Net cash provided by financing activities     23,863,845
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (130,141) (1,719,472) 1,855,193
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD 1,985,334 8,283,684  
CASH AND CASH EQUIVALENTS - END OF PERIOD 1,855,193 6,564,212 1,855,193
Cash paid for interest     18,425
Supplemental Disclosure of Non-Cash Financing Activities:      
Conversion of notes payable and accrued interest to common stock     18,897,167
Reclassification of deferred financing fees to additional paid-in capital     148,014
Stock issued to technology finders and licensors     155
Warrants issued to placement agent     748,495
Debt discount on senior convertible notes     $ 4,979,461