STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2012

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]

The following table summarizes amounts charged to expense for stock-based compensation related to employee and director stock option grants and stock-based compensation recorded in connection with stock options granted to non-employee consultants:

	Nine Months Ended September 30, (unaudited)				Year Ended December 31,				Cumulative Development- Stage Period from November 7, 2002 through December 31,
	2012		2011		2011		2010		2011
Employee and director stock option grants:
Research and development	$	234,816	$	121,393	$	190,172	$	61,791	$	488,558
General and administrative		747,808		349,781		570,884		291,549		2,148,187
		982,624		471,174		761,056		353,340		2,636,745
Non-employee consultant stock option grants:
Research and development		85,265		46,851		36,157		—		36,157
General and administrative		92,022		137,631		110,247		—		181,971
		177,287		184,482		146,404		—		218,128
Total stock-based compensation	$	1,159,911	$	655,656	$	907,460	$	353,340	$	2,854,873

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

The following table summarizes weighted-average values and assumptions used for options granted to employees, directors and consultants in the periods indicated:

	Nine Months  Ended September 30, 2012			Nine Months Ended September 30, 2011			Twelve Months Ended December 31, 2011
Volatility		115	%		110	%		110 - 115 %
Risk-free interest rate		0.925	%		1.84%-3.17	%		0.89% – 3.17	%
Expected life (years)		6.0			5.5 – 6.25			5.5 – 6.25
Dividend		0	%		0	%		0	%
Weighted-average exercise price	$	1.00		$	1.45		$	1.16
Weighted-average grant-date fair value	$	0.85		$	1.22		$	0.98

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

A summary of stock option activity under stock option plans is as follows:

	Number of Shares Issuable Upon Exercise of Outstanding Options			Weighted Average Exercise Price		Weighted Average Remaining Contracted Term in Years		Aggregate Intrinsic Value
Outstanding at November 7, 2002		—
Granted		922,654		$	2.52
Forfeited		(12,653	)	$	3.04
Outstanding at January 1, 2009		910,001		$	2.86
Granted		90,929		$	0.76
Forfeited		(9,194	)	$	2.72
Outstanding at December 31, 2009		991,736		$	2.68
Canceled		(222,547	)	$	2.63
Outstanding at December 31, 2010		769,189		$	2.69
Canceled		(769,189	)	$	2.69
Options acquired in connection with a business combination		49,159		$	100.52
Granted		5,226,500		$	1.16
Canceled		(9,992	)	$	115.16
Forfeited		(438,029	)	$	2.44
Outstanding at December 31, 2011		4,827,638		$	1.82
Granted		24,000		$	1.00
Forfeited		(175,884	)	$	1.36
Outstanding at September 30, 2012 (unaudited)		4,675,754		$	1.82
Vested, December 31, 2010		743,450		$	2.69		4.07	$	—
Unvested, December 31, 2010		25,739		$	2.62		5.08	$	—
Exercisable at December 31, 2010		743,450		$	2.69		4.07	$	—
Vested, December 31, 2011		636,634		$	6.48		9.17	$	—
Unvested, December 31, 2011		4,191,004		$	1.12		9.59	$	—
Exercisable at December 31, 2011		636,634		$	6.48		9.17	$	—
Vested, September 30, 2012 (unaudited)		1,954,046		$	2.92		8.69	$	252,062
Unvested, September 30, 2012 (unaudited)		2,721,708		$	1.06		8.87	$	620,198
Exercisable at September 30, 2012 (unaudited)		1,954,046		$	2.92		8.69	$	252,062