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LIQUIDITY AND CAPITAL RESOURCES (Details) (USD $)
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Liquidity and capital resources        
Net proceeds from issuance of shares and warrants $ 3,260,865 $ 23,876,370 $ 48,452,644  
Cash and cash equivalents 34,794,341 57,225,234 38,155,251 29,858,465
Common stock
       
Liquidity and capital resources        
Net proceeds from issuance of shares and warrants 3,300,000      
Minimum
       
Liquidity and capital resources        
Net cash required to obligate the entity to effect merger 17,000,000      
Period for which cash and cash equivalents will meet liquidity requirements 3 years      
Number of products or technologies licensed by the entity as an alternative to raising additional financing 1      
Maximum
       
Liquidity and capital resources        
Period for which cash and cash equivalents will meet liquidity requirements 5 years      
2013 Notes
       
Liquidity and capital resources        
Principal amount $ 8,277,850      
Interest rate (as a percent) 3.125%