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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Contract revenue $ 2,111,254 $ 1,149,570 $ 3,116,948 $ 8,218,316
Operating expenses:        
Research and development 1,143,182 1,222,527 2,172,313 2,836,154
General and administrative 1,435,381 1,819,241 2,628,679 4,015,361
Restructuring expense 0 35,982 0 2,096,791
Depreciation 40,435 36,687 78,136 73,793
Total operating expenses 2,618,998 3,114,437 4,879,128 9,022,099
Loss from operations (507,744) (1,964,867) (1,762,180) (803,783)
Other income (expense):        
Interest income, net 1,478 (13,279) 428 (38,604)
Realization of cumulative translation adjustment 0 (229,192) 0 (229,192)
Change in fair value of derivative instruments (330,484) (120,615) (290,586) 217,630
Other income - litigation 8,895,038 0 8,895,038 0
Other income (expense) 1,622 (1,911) 5,741 7,285
Total other income (expense) 8,567,654 (364,997) 8,610,621 (42,881)
Net income (loss) before income taxes 8,059,910 (2,329,864) 6,848,441 (846,664)
Income tax provision (15,436) (11,068) (30,873) (30,873)
Net income (loss) $ 8,044,474 $ (2,340,932) $ 6,817,568 $ (877,537)
Basic net income (loss) per share $ 0.12 $ (0.04) $ 0.11 $ (0.01)
Diluted net income (loss) per share $ 0.12 $ (0.04) $ 0.1 $ (0.01)
Weighted average shares used in calculation of basic net income (loss) per share 64,737,820 63,745,834 64,571,108 63,691,214
Weighted average shares used in calculation of diluted net income (loss) per share 65,206,075 63,745,834 64,917,267 63,691,214