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SHARE-BASED PAYMENTS (Details) (USD $)	3 Months Ended		9 Months Ended
SHARE-BASED PAYMENTS (Details) (USD $)	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Share-based compensation expense
Total share-based compensation expense	$ 227,900	$ 195,821	$ 630,659	$ 453,551
Unrecognized compensation expense related to unvested stock-based compensation	1,900,000		1,900,000
Weighted average period to recognize unrecognized stock-based compensation expense			3 years
Research and development
Share-based compensation expense
Total share-based compensation expense	104,411	74,729	227,260	140,840
General and administrative
Share-based compensation expense
Total share-based compensation expense	$ 123,489	$ 121,092	$ 403,399	$ 312,711

Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.

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