PROPERTY, EQUIPMENT and LEASEHOLD IMPROVEMENTS (Tables)

9 Months Ended

Sep. 30, 2013

PROPERTY, EQUIPMENT and LEASEHOLD IMPROVEMENTS [Abstract]

Property, equipment and leasehold improvements

Property, equipment and leasehold improvements, net, consisted of the following at September 30, 2013 and December 31, 2012:

Property, equipment and leasehold improvements	September 30, 2013			December 31, 2012
Laboratory equipment	$	424,888		$	424,888
Manufacturing equipment		1,574,665			1,547,572
Computers, office equipment, and furniture		140,360			140,360
Computer software		4,108			4,108
Leasehold improvements		95,841			95,841
		2,239,862			2,212,769
Less: accumulated depreciation and amortization		( 1,549,144	)		(1,367,234	)
Property, equipment and leasehold improvements, net	$	690,718		$	845,535