Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations (Unaudited)

v3.4.0.3
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Statements of Operations [Abstract]    
Revenue
Operating expenses:    
Research and development, net of reimbursements $ 3,765,452 $ 4,048,714
General and administrative 2,218,467 3,806,405
Depreciation expense 18,120 10,395
Total operating expenses 6,002,039 7,865,514
Loss from operations (6,002,039) (7,865,514)
Other income (expense):    
Interest expense (2,658) (5,727)
Gain on change in fair value of derivative liabilities 1,601,399 4,796,378
Total other income 1,598,741 4,790,651
Net loss $ (4,403,298) $ (3,074,863)
Net loss per common share - basic and diluted $ (0.10) $ (0.09)
Weighted average common shares outstanding - basic and diluted 44,253,793 33,256,352