Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Comprehensive Loss

v3.2.0.727
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues $ 2,500 $ 5,000 $ 5,417 $ 9,167
Operating expenses:        
Research and development expenses 3,312,841 1,999,921 6,495,664 3,630,286
General and administrative expenses 1,684,381 1,516,317 3,117,455 5,067,020
Total operating expenses 4,997,222 3,516,238 9,613,119 8,697,306
Operating loss (4,994,722) (3,511,238) (9,607,702) (8,688,139)
Other income (expense):        
Interest income 16,084 17,422 29,653 42,140
Interest expense (459,073) (397,616) (912,807) (830,357)
Warrant modification expense 0 (3,109,850) 0 (3,109,850)
Loss from change in fair value of derivative instruments 0 0 0 (334,133)
Other income (expense) (10,326) 250,000 (10,326) 250,000
Total other income (expense) (453,315) (3,240,044) (893,480) (3,982,200)
Net loss $ (5,448,037) $ (6,751,282) $ (10,501,182) $ (12,670,339)
Net loss per share - basic and diluted (in dollars per share) $ (0.06) $ (0.08) $ (0.12) $ (0.15)
Weighted average common shares outstanding - basic and diluted (in shares) 90,791,285 87,186,586 90,004,597 86,477,797
Comprehensive loss:        
Net loss $ (5,448,037) $ (6,751,282) $ (10,501,182) $ (12,670,339)
Foreign currency translation adjustment (18) 130 (5) (1,134)
Comprehensive loss $ (5,448,055) $ (6,751,152) $ (10,501,187) $ (12,671,473)