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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | 12 Months Ended | 110 Months Ended
--- | --- | --- | ---
Mar. 31, 2012 | Mar. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2011
COSTS AND EXPENSES: |  |  |  |  |
Research and development | $ 1,328,314 | $ 471,404 | $ 3,599,080 | $ 2,984,207 | $ 20,805,039
General and administrative | 997,671 | 131,726 | 2,692,433 | 1,156,549 | 9,662,611
Merger costs |  | 250,434 | 746,207 | 52,925 | 799,133
Total costs and expenses | 2,325,985 | 853,564 | 7,037,720 | 4,193,681 | 31,266,783
LOSS FROM OPERATIONS | (2,325,985) | (853,564) | (7,037,720) | (4,193,681) | (31,266,783)
OTHER INCOME (EXPENSE): |  |  |  |  |
Grant income |  | 44,479 | 44,479 | 200,000 | 244,479
Loss on derivative warrants | (28,846) |  | (12,158) |  | (12,158)
Interest expense, net | (2,072) | (156,167) | (430,023) | (566,156) | (447,125)
Other income (expense) |  |  |  | (426) | 1,161
Total other expense, net | (30,918) | (111,688) | (397,702) | (366,582) | (213,643)
NET LOSS | $ (2,356,903) | $ (965,252) | $ (7,435,422) | $ (4,560,263) | $ (31,480,426)
BASIC AND DILUTED NET LOSS PER COMMON SHARE | $ (0.06) | $ (0.08) | $ (0.31) | $ (0.36) | $ (2.84)
SHARES USED IN COMPUTING BASIC AND DILUTED NET LOSS PER COMMON SHARE | 36,910,217 | 12,820,102 | 23,959,008 | 12,820,102 | 11,090,838

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