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Consolidated Statements of Operations (USD $)
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Fee income $ 845,982 $ 767,522 $ 709,811
Operating expenses 3,618,635 3,253,250 3,183,492
Research and development 1,390,689 1,404,654 1,549,707
Operating Expenses, Total 5,009,324 4,657,904 4,733,199
Operating loss (4,163,342) (3,890,382) (4,023,388)
Net investment income 29,274 15,517 20,627
Net loss $ (4,134,068) $ (3,874,865) $ (4,002,761)
Basic and diluted net loss per common share (in dollars per share) $ (0.22) $ (0.22) $ (0.25)
Weighted average number of common shares outstanding (in shares) 18,538,041 17,321,360 16,065,248