Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2012

Basis of Presentation [Abstract]

Summary of assets and liabilities measured at fair value on a recurring basis

The following table summarizes assets and liabilities measured at fair value on a recurring basis at September 30, 2012 and December 31, 2011, respectively:

	September 30, 2012								December 31, 2011
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Fair Value Measurements Using:
Assets
Derivative asset (warrant) (note 7)	$	—	$	187,600	$	—	$	187,600	$	—	$	388,540	$	—	$	388,540
Liabilities
Derivative liabilities (note 7)	$	—	$	8,949,412	$	—	$	8,949,412	$	—	$	279,302	$	—	$	279,302

Reconciliation of beginning and ending balances of assets and liabilities measured at fair value using significant observable inputs

The table below provides a reconciliation of the beginning and ending balances for the assets and liabilities measured at fair value using significant observable inputs (Level 2). The table reflects net gains and losses for all financial assets and liabilities categorized as Level 2 as of September 30, 2012 and December 31, 2011.

	$			Number of Warrants
Assets:
Warrant asset as of January 1, 2012	$	388,540			2,000,000
Decrease in fair value of warrants		(200,940	)		—
Warrant asset as of September 30, 2012	$	187,600			2,000,000
Liabilities:
Warrant liability as of January 1, 2012	$	279,302			3,246,301
Expiration of CDC* warrants		—			(1,000,000	)
Increase in fair value of warrants		8,670,110			—
Warrant liability as of September 30, 2012	$	8,949,412			2,246,301

* Related to Clinical Development Capital, LLC and its successors and/or affiliates (“CDC”), who previously provided financing for the development of the Company’s ONSOLIS^® product. See Note 5.