Deferred Revenue

9 Months Ended

Sep. 30, 2011

Deferred Revenue Disclosure [Text Block]

DEFERRED REVENUE:

Upon the closing of the Watson Transactions on July 2, 2010, the Company allocated the $47 million initial proceeds plus the $15 million in forgiven debt plus accrued interest to the fair value of the Shares and the elimination of the remaining book value of the CRINONE intangible assets in the amount of $16.2 million. The excess has been recorded as deferred revenue and was being amortized over the remaining research and development period for the PREGNANT study including the Company's submission to, and the FDA's filing of the related NDA. On April 26, 2011, the Company submitted an NDA related to the Preterm birth indication. On June 27, 2011, the FDA accepted for filing the NDA, which triggered a $5.0 million milestone payment from Watson to the Company and was recorded as other revenue in the three month period ended June 30, 2011. The payment was received in July 2011.



	September 30,		December 31,
	2011		2010
Net deferred revenue - Watson	$	—	$	16,974,383

Deferred revenue - other	49,815		154,187

Total deferred revenue	$	49,815	$	17,128,570

The Company recognized revenue from the amortization of deferred revenues of $17,078,785 and $8,537,003 for the nine months ended September 30, 2011 and September 30, 2010, respectively.