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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Cash flows from operating activities:    
Net loss $ (10,134,879) $ (6,275,235)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 26,184 22,581
Retirement of fixed assets 2,187 2,186
Stock option and warrant expense 321,614 348,328
Fair value adjustment on warrant liability 3,888,166 (600,473)
Changes in assets and liabilities:    
Receivable 172,325 99,270
Interest receivable 29,720 49,495
Prepaid expenses and other current assets 211,020 (578,758)
Income taxes recoverable 0 97,996
Accounts payable 534,804 1,398,809
Accrued expenses and other current liabilities 916,530 1,692,156
Net cash used in operating activities (4,032,329) (3,743,645)
Cash flows from investing activities:    
Net proceeds from sale of marketable securities 2,989,902 1,491,241
Proceeds from sale of assets held for sale 0 0
Proceeds from sale of unconsolidated subsidiary shares 0 6,938,603
Purchases of equipment and furnishings (29,467) (8,214)
Net cash provided by investing activities 2,960,435 8,421,630
Net increase (decrease) in cash (1,071,894) 4,677,985
Cash at beginning of period 17,988,590 6,324,430
Cash at end of period 16,916,696 11,002,415
Supplemental disclosure of cash flow information:    
Cash received during the period as interest income $ 65,178 $ 42,227