XML 61 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Operations (USD $)
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Revenues:      
Product royalty revenues $ 1,082,742 $ 2,716,452 $ 1,884,080
Research revenue 13,375 227,668 726,948
Sponsored research revenue       244,479
Contract revenue 53,446,309 318,800 549,390
Total revenues 54,542,426 3,262,920 3,404,897
Cost of product royalties 1,909,785 1,756,629 839,208
Expenses:      
Research and development 35,365,662 20,805,177 10,645,414
General and administrative 10,114,689 7,608,090 7,913,370
Related party general and administrative 90,500 81,000 82,529
Impairment of intangible license       243,648
Total expenses 45,570,851 28,494,267 18,884,961
Income (Loss) from operations 7,061,790 (26,987,976) (16,319,272)
Interest income (expense), net 280,709 188,701 133,613
Derivative (loss) gain (5,594,152) 3,463,453 3,126,771
Other income (expenses), net 32,954 10,706 25,946
Total nonoperating Income (Expense) (5,280,489) 3,662,860 3,286,330
Income (Loss) before taxes 1,781,301 (23,325,116) (13,032,942)
Income tax expense (129,120)      
Net income (loss) 1,652,181 (23,325,116) (13,032,942)
Net income (loss) attributable to common stockholders $ 1,652,181 $ (23,325,116) $ (13,032,942)
Basic:      
Weighted average common stock shares outstanding 30,546,581 28,322,477 23,150,975
Basic earnings per share $ 0.05 $ (0.82) $ (0.56)
Diluted:      
Diluted weighted average common stock shares outstanding 30,689,235 28,322,477 23,150,975
Diluted earnings per share $ 0.05 $ (0.82) $ (0.56)