Document and Entity Information (USD $)	12 Months Ended
Document and Entity Information (USD $)	Dec. 31, 2012	Apr. 01, 2013	Jun. 30, 2012
Document and Entity Information [Abstract]
Entity Registrant Name	CATALYST PHARMACEUTICAL PARTNERS, INC.
Entity Central Index Key	0001369568
Document Type	10-K
Document Period End Date	Dec. 31, 2012
Amendment Flag	false
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 13,234,061
Entity Common Stock, Shares Outstanding		41,420,687

Balance Sheets (USD $)	Dec. 31, 2012	Dec. 31, 2011
Current Assets:
Cash and cash equivalents	$ 1,409,939	$ 6,029,067
Certificates of deposit	6,502,825
Short - term investments	7,504,444
Prepaid expenses	1,309,470	199,116
Total current assets	16,726,678	6,228,183
Property and equipment, net	53,679	12,186
Deposits	8,888	8,888
Total assets	16,789,245	6,249,257
Current Liabilities:
Accounts payable	1,365,663	263,934
Accrued expenses and other liabilities	281,002	569,867
Total current liabilities	1,646,665	833,801
Accrued expenses and other liabilities, non-current	21,878	9,518
Warrants liability, at fair value	498,587	1,645,240
Total liabilities	2,167,130	2,488,559
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.001 par value, 5,000,000 shares authorized: none issued and outstanding at December 31, 2012 and 2011
Common stock, $0.001 par value, 100,000,000 shares authorized; 41,420,687 shares and 24,701,420 shares issued and outstanding at December 31, 2012 and 2011, respectively	41,421	24,701
Additional paid-in capital	56,759,697	41,838,614
Deficit accumulated during the development stage	(42,179,003)	(38,102,617)
Total stockholders' equity	14,622,115	3,760,698
Total liabilities and stockholders' equity	$ 16,789,245	$ 6,249,257

Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2012	Dec. 31, 2011
Balance Sheets [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	41,420,687	24,701,420
Common stock, shares outstanding	41,420,687	24,701,420

Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.

+ References+ Details

- Definition

Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share.

+ References+ Details

Statements of Operations (USD $)	12 Months Ended			132 Months Ended
Statements of Operations (USD $)	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2012
Statements of Operations [Abstract]
Revenues - government grant			$ 488,958	$ 488,958
Operating costs and expenses:
Research and development	2,659,597	3,383,965	2,306,781	28,303,305
General and administrative	2,561,543	2,698,174	2,206,358	16,667,291
Total operating costs and expenses	5,221,140	6,082,139	4,513,139	44,970,596
Loss from operations	(5,221,140)	(6,082,139)	(4,024,181)	(44,481,638)
Interest income	14,976	10,985	17,858	1,492,765
Change in fair value of warrants liability	1,129,778	(319,908)		809,870
Loss before income taxes	(4,076,386)	(6,391,062)	(4,006,323)	(42,179,003)
Provision for income taxes
Net loss	$ (4,076,386)	$ (6,391,062)	$ (4,006,323)	$ (42,179,003)
Net loss per share - basic and diluted	$ (0.14)	$ (0.29)	$ (0.22)
Weighted average shares outstanding - basic and diluted	30,033,108	21,728,292	18,580,223

Statement of Stockholders' Equity (USD $)	Total	Preferred Stock Series "A"	Preferred Stock Series "B"	Common Stock	Additional Paid-in Capital	Deficit Accumulated During the Development Stage
Beginning Balance at Jan. 03, 2002	$ 100,000			$ 21,888	$ 78,112
Issuance of common stock, net	125,000			7,296	117,704
Issuance of stock options for services	75,833				75,833
Net loss	(255,945)					(255,945)
Ending Balance at Dec. 31, 2002	44,888			29,184	271,649	(255,945)
Issuance of preferred stock, net	670,457	700			669,757
Issuance of stock options for services	75,833				75,833
Net loss	(428,615)					(428,615)
Ending Balance at Dec. 31, 2003	362,563	700		29,184	1,017,239	(684,560)
Issuance of stock options for services	294,833				294,833
Net loss	(539,820)					(539,820)
Ending Balance at Dec. 31, 2004	117,576	700		29,184	1,312,072	(1,224,380)
Issuance of common stock, net	1,046,516			39,545	1,006,971
Issuance of common stock and stock options for services	(1,087,750)			(146)	(1,087,604)
Net loss	(1,805,380)					(1,805,380)
Ending Balance at Dec. 31, 2005	446,462	700		68,875	3,406,647	(3,029,760)
Change in par value		(630)		(61,988)	62,618
Issuance of preferred stock Series "B", net	3,225,140		8		3,225,132
Issuance of common stock (IPO), net	17,638,020			3,350	17,634,670
Conversion of preferred stock Series "A" into common stock, upon closing of IPO		(70)		1,022	(952)
Conversion of preferred stock Series "B" into common stock, upon closing of IPO			(8)	1,116	(1,108)
Issuance of common stock and stock options for services	(1,266,465)			(142)	(1,266,323)
Net loss	(2,729,454)					(2,729,454)
Ending Balance at Dec. 31, 2006	19,846,633			12,517	25,593,330	(5,759,214)
Issuance of common stock and stock options for services	(579,687)			(11)	(579,676)
Amortization of restricted stock for services	35,930				35,930
Net loss	(4,139,493)					(4,139,493)
Ending Balance at Dec. 31, 2007	16,322,757			12,528	26,208,936	(9,898,707)
Issuance of common stock, net	4,087,900			1,488	4,086,412
Issuance of stock options for services	583,836				583,836
Issuance of restricted stock units for services, net	130,319			44	130,275
Net loss	(10,564,597)					(10,564,597)
Ending Balance at Dec. 31, 2008	10,560,215			14,060	31,009,459	(20,463,304)
Issuance of common stock, net	3,698,135			3,973	3,694,162
Issuance of stock options for services	581,286				581,286
Issuance of restricted stock units for services, net	20,152			5	20,147
Net loss	(7,241,928)					(7,241,928)
Ending Balance at Dec. 31, 2009	7,617,860			18,038	35,305,054	(27,705,232)
Issuance of common stock, net	1,456,153			1,352	1,454,801
Issuance of stock options for services	450,089				450,089
Issuance of restricted stock units for services, net				5	(5)
Net loss	(4,006,323)					(4,006,323)
Ending Balance at Dec. 31, 2010	5,517,779			19,395	37,209,939	(31,711,555)
Issuance of stock options for services	416,735				416,735
Issuance of common stock and warrants, net	4,217,246			5,306	4,211,940
Net loss	(6,391,062)					(6,391,062)
Ending Balance at Dec. 31, 2011	3,760,698			24,701	41,838,614	(38,102,617)
Issuance of common stock, net	33,124			53	33,071
Issuance of stock options for services	340,039				340,039
Issuance of common stock and warrants, net	9,564,640			10,000	9,554,640
Issuance of common stock upon note conversion	5,000,000			6,667	4,993,333
Net loss	(4,076,386)					(4,076,386)
Ending Balance at Dec. 31, 2012	$ 14,622,115			$ 41,421	$ 56,759,697	$ (42,179,003)

Statements of Cash Flows (USD $)	12 Months Ended			132 Months Ended
Statements of Cash Flows (USD $)	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2012
Operating Activities:
Net loss	$ (4,076,386)	$ (6,391,062)	$ (4,006,323)	$ (42,179,003)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	10,889	42,835	25,741	164,878
Stock-based compensation	340,039	416,735	450,089	5,962,200
Change in fair value of warrants liability	(1,129,778)	319,908		(809,870)
(Increase) decrease in:
Government grant receivable		134,025	(134,025)
Prepaid expenses and deposits	(1,110,354)	(31,272)	(58,074)	(1,318,358)
Increase (decrease) in:
Accounts payable	1,101,729	158,001	(143,702)	1,365,663
Accrued expenses and other liabilities	(276,505)	365,781	108,889	239,528
Net cash used in operating activities	(5,140,366)	(4,985,049)	(3,757,405)	(36,574,962)
Investing Activities:
Capital expenditures	(52,382)	(3,620)	(2,867)	(155,208)
Purchase of short-term investments	(7,504,444)			(7,504,444)
Purchase of certificates of deposit	(6,502,825)			(6,502,825)
Net cash used in investing activities	(14,059,651)	(3,620)	(2,867)	(14,162,477)
Financing Activities:
Proceeds from issuance of common stock and warrants, net	9,564,640	5,542,578	1,456,153	43,138,942
Proceeds from issuance of preferred stock, net				3,895,597
Proceeds from issuance of convertible promissory note	5,000,000			5,000,000
Proceeds from exercise of warrants	16,249			16,249
Payment of employee withholding tax related to restricted stock units				(3,410)
Net cash provided by financing activities	14,580,889	5,542,578	1,456,153	52,047,378
Net increase (decrease) in cash and cash equivalents	(4,619,128)	553,909	(2,304,119)	1,309,939
Cash and cash equivalents - beginning of period	6,029,067	5,475,158	7,779,277	100,000
Cash and cash equivalents - end of period	1,409,939	6,029,067	5,475,158	1,409,939
Non-cash investing and financing activities:
Non-cash incentive received from lessor				52,320
Exercise of liability classified warrants for common stock	16,875			16,875
Conversion of note to common stock	$ 5,000,000			$ 5,000,000

Organization and Description of Business

12 Months Ended

Dec. 31, 2012

Organization and Description of Business [Abstract]

Organization and Description of Business

1.	Organization and Description of Business

Catalyst Pharmaceutical Partners, Inc. (the Company) is a development-stage specialty pharmaceutical company focused on the development and commercialization of novel prescription drugs targeting rare (orphan) neuromuscular and neurological diseases and disorders, including Lambert-Eaton Myasthenic Syndrome (LEMS) and infantile spasms. The Company was incorporated in Delaware in July 2006. It is the successor by merger to Catalyst Pharmaceutical Partners, Inc., a Florida corporation (CPP-Florida), which commenced operations in January 2002.

The Company has incurred operating losses in each period from inception through December 31, 2012. The Company has been able to fund its cash needs to date through several public and private offerings of its common stock and warrants, through government grants, and through an investment by a strategic purchaser. See Notes 8 and 11.

Merger

On September 7, 2006, the Company completed a merger with CPP-Florida in which CPP-Florida was merged with and into the Company and all of CPP-Florida’s assets, liabilities and attributes were transferred to the Company by operation of law. Prior to the merger, the Company was a wholly-owned subsidiary of CPP-Florida. The merger was effected to reincorporate the Company in Delaware.

After the merger, holders of CPP-Florida common stock held an equal number of shares of the Company’s common stock, holders of CPP-Florida Series A preferred stock held an equal number of shares of the Company’s Series A Preferred Stock and holders of CPP-Florida Series B Preferred Stock held an equal number of shares of the Company’s Series B Preferred Stock.

Shares of CPP-Florida common and preferred stock had a par value of $0.01 per share. Shares of the Company’s common and preferred stock have a par value of $0.001 per share. An adjustment was made to capital stock and additional paid-in capital during 2006 to reflect this change. Upon closing of the Company’s initial public offering (IPO) in 2006, all the outstanding shares of preferred stock were converted into common stock. See Note 11.

Capital Resources

On May 24, 2012, the Company sold 6,000,000 shares of its common stock together with common stock purchase warrants to purchase 6,000,000 shares of the Company’s common stock, at a price of $0.80 per share and corresponding warrant. These securities were issued pursuant to a Form S-1 registration statement that became effective on May 23, 2012 (file no. 333-180617). The Company received gross proceeds of approximately $4.8 million from this offering, before underwriting commission and other expenses totaling approximately $795,000. The May 2012 warrants, which expire five years from their date of issuance and have an exercise price of $1.04 per share, have been accounted for as equity instruments, since they do not contain features (such as net cash settlement or anti-dilution features) that would preclude the Company from accounting for these warrants as equity.

On December 3, 2010, the Company filed a Shelf Registration Statement on Form S-3 (the 2010 Shelf Registration Statement) with the SEC to sell up to $30 million of common stock and common stock purchase warrants. This registration statement (file No. 333-170945) was declared effective by the SEC on December 15, 2010. The Company conducted the following sales under the 2010 Shelf Registration Statement:

(a)

On March 8, 2011, the Company filed a prospectus supplement and offered for sale to institutional investors 2,259,943 shares of its common stock at a price of $1.12 per share and received gross proceeds of approximately $2.5 million before underwriting commission and incurred expenses of approximately $300,000.

(b)

On October 28, 2011, the Company filed a prospectus supplement and offered for sale to institutional investors 3,046,740 shares of its common stock together with common stock purchase warrants to purchase 1,523,370 shares of the Company’s common stock at a price of $1.15 per share and corresponding warrant and received gross proceeds of approximately $3.5 million before underwriting commission and other expenses totaling approximately $335,000. The warrants issued in this registered direct offering, which expire on April 28, 2017 and have an exercise price of $1.30 per share, have been accounted for as a liability. See Notes 3 and 11.

(c)

On August 28, 2012, the Company filed a prospectus supplement and offered for sale to institutional investors 4,000,000 shares of its common stock together with common stock purchase warrants to purchase 1,200,000 shares of the Company’s common stock at a price of $1.50 per share and corresponding warrant and received gross proceeds of approximately $6.0 million before underwriting commission and other expenses totaling approximately $440,000. These warrants, which will expire on August 28, 2017 and have an exercise price of $2.08 per share, have been accounted for as equity instruments, since they do not contain features (such as cash settlement or anti-dilution features) that would preclude the Company from accounting for these warrants as equity.

The number of shares that the Company can sell and the amount of the gross proceeds that the Company can raise (in the aggregate) under its currently outstanding Shelf Registration Statement is limited to 20% of the number of shares of outstanding common stock and 33% of the Company’s public float, respectively, pursuant to applicable NASDAQ marketplace and SEC rules.

While there can be no assurance, the Company currently believes that it has sufficient resources to support its operations through the first quarter of 2014. The Company will require additional capital to support its operations in periods after the first quarter of 2014.

The Company may raise in the future required funds through public or private equity offerings, debt financings, corporate collaborations, governmental research grants or other means. The Company may also seek to raise new capital to fund additional product development efforts, even if it has sufficient funds for its planned operations. Any sale by the Company of additional equity or convertible debt securities could result in dilution to the Company’s current stockholders. There can be no assurance that any required additional funding will be available to the Company at all or available on terms acceptable to the Company. Further, to the extent that the Company raises funds through collaborative arrangements, it may be necessary to relinquish some rights to the Company’s technologies or grant sublicenses on terms that are not favorable to the Company. If the Company is not able to secure additional funding when needed, the Company may have to delay, reduce the scope of, or eliminate one or more research and development programs, which could have an adverse effect on the Company’s business.

Basis of Presentation and Significant Accounting Policies

12 Months Ended

Dec. 31, 2012

Basis of Presentation and Significant Accounting Policies [Abstract]

Basis of Presentation and Significant Accounting Policies

2.	Basis of Presentation and Significant Accounting Policies

DEVELOPMENT STAGE COMPANY. Since inception, the Company has devoted substantially all of its efforts to business planning, research and development, recruiting management and technical staff, acquiring operating assets and raising capital. Accordingly, the Company is considered to be in the development stage and the Company’s financial statements are presented in that manner in accordance with U.S. generally accepted accounting principles. The Company’s primary focus is on the development and commercialization of its drug candidates.

USE OF ESTIMATES. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

CASH AND CASH EQUIVALENTS. The Company considers all highly liquid instruments, purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents consist mainly of U.S. Treasury bills, certificates of deposit and money market funds. The Company has substantially all of its cash and cash equivalents deposited with one financial institution.

CERTIFICATES OF DEPOSIT. The certificates of deposit were issued by a banking institution and are recorded at cost plus accrued interest. The original maturity was greater than three months but did not exceed one year. Interest income is recorded in the statement of operations as it is earned. Carrying value at December 31, 2012 approximates fair value.

SHORT-TERM INVESTMENTS. The Company invests in short-term investments in high credit-quality funds in order to obtain higher yields on its cash available for investments. As of December 31, 2012 short-term investments consisted of a short-term bond fund. Such investments are not insured by the Federal Deposit Insurance Corporation. Short-term investments at December 31, 2012 were considered trading securities. Trading securities are recorded at fair value based on the closing market price of the security. For trading securities, the Company charges realized gains and losses and unrealized gains and losses to earnings. Unrealized losses for the year ended December 31, 2012 were nominal.

PREPAID EXPENSES. Prepaid expenses consist primarily of prepaid research fees, prepaid insurance and prepaid subscription fees. Prepaid research fees consist of advances for our product development activities, including drug manufacturing, contracts for pre-clinical studies, clinical trials and studies, regulatory affairs and consulting. Such advances are recorded as expense as the related goods are received or the related services are performed.

PROPERTY AND EQUIPMENT. Property and equipment are recorded at cost. Depreciation is calculated to amortize the depreciable assets over their useful lives using the straight-line method and commences when the asset is placed in service. Leasehold improvements are amortized on a straight-line basis over the term of the lease or the estimated life of the improvement, whichever is shorter. Useful lives generally range from three years for computer equipment to three to six years for furniture and equipment and leasehold improvements. Expenditures for repairs and maintenance are charged to expenses as incurred.

OPERATING LEASES. The Company recognizes lease expense on a straight-line basis over the initial lease term. For leases that contain rent holidays, escalation clauses or tenant improvement allowances, the Company recognizes rent expense on a straight-line basis and records the difference between the rent expense and rental amount payable as deferred rent. As of December 31, 2012 and 2011, the Company had $22,643 and $9,518, respectively, of deferred rent in accrued expenses and other liabilities.

FAIR VALUE OF FINANCIAL INSTRUMENTS. The Company’s financial instruments consist of cash and cash equivalents, certificates of deposit, short-term investments, accounts payable and accrued expenses and other liabilities, and warrants liability. At December 31, 2012, the fair value of these instruments approximated their carrying value.

FAIR VALUE MEASUREMENTS. Current Financial Accounting Standards Board (FASB) fair value guidance emphasizes that fair value is a market-based measurement, not an entity-specific measurement. Therefore, a fair value measurement should be determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, current FASB guidance establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity’s own assumptions that market participants assumptions would use in pricing assets or liabilities (unobservable inputs classified within Level 3 of the hierarchy).

Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at measurement date. Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates, foreign exchange rates, and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability, which are typically based on an entity’s own assumptions, as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability.


	Fair Value Measurements at Reporting Date Using
	Balances as of December 31, 2012		Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Certificates of deposit	$	6,502,825	$	—	$	6,502,825	$	—

Short-term investments	$	7,504,444	$	7,504,444	$	—	$	—

Warrants liability	$	498,587	$	—	$	—	$	498,587


	Fair Value Measurements at Reporting Date Using
	Balances as of December 31, 2011		Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Warrants liability	$	1,645,240	$	—	$	—	$	1,645,240

WARRANTS LIABILITY. In October 2011, the Company issued 1,523,370 warrants to purchase shares of the Company’s common stock in connection with a registered direct offering under the 2010 Shelf Registration Statement. The Company accounted for these warrants as a liability measured at fair value due to a provision included in the warrants agreement that provides the warrants holders with an option to require the Company (or its successor) to purchase their warrants for cash in an amount equal to their Black-Scholes Option Pricing Model (the Black-Scholes Model) value, in the event that certain fundamental transactions, as defined, occur. The fair value of the warrants liability is estimated using the Black-Scholes Model which requires inputs such as the expected term of the warrants, share price volatility and risk-free interest rate. These assumptions are reviewed on a quarterly basis and changes in the estimated fair value of the outstanding warrants are recognized each reporting period in the “Change in fair value of warrants liability” line in the statement of operations.

RESEARCH AND DEVELOPMENT. Costs incurred in connection with research and development activities are expensed as incurred. These costs consist of direct and indirect costs associated with specific projects as well as fees paid to various entities that perform research related services for the Company.

STOCK-BASED COMPENSATION. The Company recognizes expense in the statement of operations for the fair value of all stock-based payments to employees, directors, consultants and scientific advisors, including grants of stock options and other share based awards. For stock options, the Company uses the Black-Scholes option valuation model and the single-option award approach and straight-line attribution method. Using this approach, compensation cost is amortized on a straight-line basis over the vesting period of each respective stock option, generally three to five years. The Company estimates forfeitures and adjusts this estimate periodically based on actual forfeitures.

For the years ended December 31, 2012, 2011 and 2010, the Company recorded stock-based compensation expense as follows:


	2012		2011		2010
Research and development	$	100,221	$	111,283	$	179,737
General and administrative		239,818		305,452		270,352

Total stock-based compensation	$	340,039	$	416,735	$	450,089

CONCENTRATION OF CREDIT RISK. The financial instruments that potentially subject the Company to concentration of credit risk are cash equivalents (i.e. money market funds), short-term investments and certificates of deposit. The Company places its cash equivalents with high-credit quality financial institutions. These amounts at times may exceed federally insured limits. The Company has not experienced any credit losses in these accounts.

INCOME TAXES. The Company utilizes the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is provided when it is more likely than not that some portion or all of a deferred tax asset will not be realized.

The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority.

The Company is subject to income taxes in the U.S. federal jurisdiction and various state jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. The Company is not subject to U.S. federal, state and local tax examinations by tax authorities for years before 2009. If the Company were to subsequently record an unrecognized tax benefit, associated penalties and tax related interest expense would be reported as a component of income tax expense.

COMPREHENSIVE INCOME (LOSS). U.S. generally accepted accounting principles require that all components of comprehensive income (loss) be reported in the financial statements in the period in which they are recognized. Comprehensive income (loss) is net income (loss), plus certain other items that are recorded directly into stockholders’ equity. The Company has reported comprehensive income (loss) in the statement of stockholders’ equity as net income (loss).

NET LOSS PER SHARE. Basic loss per share is computed by dividing net loss for the period by the weighted average number of common shares outstanding during the period. Diluted loss per share is computed by dividing net loss for the period by the weighted average number of common shares outstanding during the period, plus the dilutive effect of common stock equivalents, such as convertible preferred stock, stock options and restricted stock units. For all periods presented, all common stock equivalents were excluded because their inclusion would have been anti-dilutive. The potential shares, which are excluded from the determination of basic and diluted net loss per share as their effect is anti-dilutive, are as follows, for the years ended December 31, 2012, 2011 and 2010:


	2012		2011		2010
Options to purchase common stock		3,650,535		3,723,108		3,135,619
Warrants to purchase common stock		8,710,870		1,523,370		—

Potential equivalent common stock excluded		12,361,405		5,246,478		3,135,619

Potentially dilutive options to purchase common stock as of December 31, 2012, 2011 and 2010 have exercise prices ranging from $0.47 to $6.00. Potentially dilutive warrants to purchase common stock as of December 31, 2012 and 2011 have exercise prices ranging from $1.04 to $2.08.

SEGMENT INFORMATION. Management has determined that the Company operates in one reportable segment, which is the development and commercialization of pharmaceutical products.

RECLASSIFICATIONS. Certain prior year amounts in the financial statements have been reclassified to conform to the current year presentation.

Warrants Liability at Fair Value

12 Months Ended

Dec. 31, 2012

Warrants Liability at Fair Value [Abstract]

Warrants Liability at Fair Value

3.	Warrants liability, at Fair Value

2011 Warrants

The Company allocated approximately $1.3 million of proceeds from its October 2011 registered direct offering to the fair value of common stock purchase warrants issued in connection with the offering that are classified as a liability (the 2011 warrants). The 2011 warrants are classified as a liability because of provisions in such warrants that allow for the net cash settlement of such warrants in the event of certain fundamental transactions (as defined in the warrant agreement). The valuation of the 2011 warrants is determined using the Black-Scholes Model. This model uses inputs such as the underlying price of the shares issued when the warrant is exercised, volatility, risk free interest rate and expected life of the instrument. The Company has determined that the 2011 warrants liability should be classified within Level 3 of the fair value hierarchy by evaluating each input for the Black-Scholes Model against the fair value hierarchy criteria and using the lowest level of input as the basis for the fair value classification. There are six inputs: closing price of the Company’s common stock on the day of evaluation; the exercise price of the warrants; the remaining term of the warrants; the volatility of the Company’s common stock; annual rate of dividends; and the risk free rate of return. Of those inputs, the exercise price of the warrants and the remaining term are readily observable in the warrants agreement. The annual rate of dividends is based on the Company’s historical practice of not granting dividends. The closing price of the Company’s common stock would fall under Level 1 of the fair value hierarchy as it is a quoted price in an active market. The risk free rate of return is a Level 2 input, while the historical volatility is a Level 3 input in accordance with the fair value accounting guidance. Since the lowest level input is a Level 3, the Company determined the 2011 warrants liability is most appropriately classified within Level 3 of the fair value hierarchy. This liability is subject to fair value mark-to-market adjustment each reporting period. The calculated value of the 2011 warrants liability was determined using the Black-Scholes option-pricing model with the following assumptions:


	December 31, 2012			December 31, 2011
Risk free interest rate		0.60	%		0.92	%
Expected term		4.34 years			5.34 years
Expected volatility		136	%		119	%
Expected dividend yield		0	%		0	%
Expected forfeiture rate		0	%		0	%

The following table rolls forward the fair value of the Company’s warrants liability activity for the years ended December 31, 2012 and 2011:


	2012			2011
Fair value, beginning of period	$	1,645,240		$	—
Issuance of warrants		—			1,325,332
Exercise of warrants		(16,875	)		—
Change in fair value		(1,129,778	)		319,908

Fair value, end of period	$	498,587		$	1,645,240

During 2012, 12,500 of the 2011 warrants were exercised, with proceeds to the Company of $16,249. The Company recognized the change in the fair value of the warrants liability as a non-operating income or loss in the accompanying statements of operations.

Prepaid Expenses

12 Months Ended

Dec. 31, 2012

Prepaid Expenses [Abstract]

Prepaid Expenses

4.	Prepaid Expenses

Prepaid expenses consist of the following as of December 31:


	2012		2011
Prepaid research fees	$	1,138,185	$	—
Prepaid insurance		143,520		178,536
Prepaid subscriptions fees		12,369		9,942
Prepaid rent		683		2,267
Other		14,713		8,371

Total prepaid expenses	$	1,309,470	$	199,116

Property and Equipment

12 Months Ended

Dec. 31, 2012

Property and Equipment [Abstract]

Property and Equipment

5.	Property and Equipment

Property and equipment, net consists of the following as of December 31:


	2012			2011
Computer equipment	$	74,191		$	26,791
Furniture and equipment		49,451			44,469

		123,642			71,260
Less: Accumulated depreciation		(69,963	)		(59,074	)

Total property and equipment, net	$	53,679		$	12,186

Depreciation expense was $10,889, $42,835 and $25,741, respectively, for the years ended December 31, 2012, 2011 and 2010. During June 2011, in connection with the renewal of the corporate office lease, the Company entered into the first amendment to the lease. The amendment extends the original lease term for five years and relocates the Company into another space within the same building. Upon relocation of the corporate office, in November 2011, the Company wrote-off the leasehold improvements pertaining to the previous space.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details

Accrued Expenses and Other Liabilities

12 Months Ended

Dec. 31, 2012

Accrued Expenses and Other Liabilities [Abstract]

Accrued Expenses and Other Liabilities

6.	Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consist of the following as of December 31:


	2012		2011
Accrued pre-clinical and clinical trial expenses	$	197,572	$	101,568
Accrued professional fees		51,050		111,920
Accrued compensation and benefits		5,949		239,442
Accrued license fees		15,000		102,500
Deferred rent		765		—
Other		10,666		14,437

Current accrued expenses and other liabilities		281,002		569,867

Deferred rent – non-current		21,878		9,518

Non-current accrued expenses and other liabilities		21,878		9,518

Total accrued expenses and other liabilities	$	302,880	$	579,385

During December 2011, in connection with a separation agreement with one of the Company’s officers, the Company accrued severance to be paid to such officer during 2012. As of December 31, 2011, approximately $233,000 of such amount was included in accrued compensation and benefits in the accompanying balance sheet.

Commitments

12 Months Ended

Dec. 31, 2012

Commitments [Abstract]

Commitments

7.	Commitments

The Company has contracted with drug manufacturers and other vendors, including the clinical research organization (CRO) overseeing the clinical trial of one of the Company’s drug candidates, to assist in the execution of the Company’s pre-clinical and clinical trials, analysis, and the preparation of material necessary for the future filings of NDA’s with the FDA. The contracts are cancelable at any time, but obligate the Company to reimburse the providers for any time or costs incurred through the date of termination.

The Company has executed a noncancellable operating lease agreement for its corporate office. The lease has free and escalating rent payment provisions. The Company recognizes rent expense under such lease on a straight-line basis over the term of the lease. As of December 31, 2012, future minimum lease payments under the operating lease agreement are as follows:


2013	$	66,232
2014		68,054
2015		70,096
2016		72,198
2017		67,827

	$	344,407

During June 2011, in connection with the renewal of the corporate office lease, the Company entered into the first amendment to the lease. The amendment extends the original lease term for five years and relocates the Company into another space within the same building. The corporate office lease is cancellable upon the payment of an early termination penalty during 2015. The relocation occurred in November 2011. The lease provides for fixed increases in minimum annual rent payments, as well as rent free periods. The total amount of rental payments due over the lease term is being charged to rent expense on the straight-line method over the term of the lease. The differences between rent expense recorded and the amount paid is credited or charged to accrued expenses and other liabilities in the accompanying balance sheets. Rent expense was $65,310, $61,653 and $65,781, respectively, for the years ended December 31, 2012, 2011 and 2010. The Company’s leases expire on various dates through November 2017.

Obligations under capital leases are not significant.

For commitments related to the Company’s license agreements with BioMarin (defined below), Brookhaven (defined below), and Northwestern (defined below), see Note 8.

- Definition

The entire disclosure for commitments and contingencies.

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+ Details

Agreements

12 Months Ended

Dec. 31, 2012

Agreements [Abstract]

Agreements

8.	Agreements

LICENSE AGREEMENT WITH BROOKHAVEN. The Company has entered into a license agreement with Brookhaven Science Associates, LLC, as operator of Brookhaven National Laboratory under contract with the United States Department of Energy (Brookhaven), whereby the Company has obtained an exclusive license for several patents and patent applications in the U.S. and outside the U.S. relating to the use of vigabatrin as a treatment for cocaine, other addictions and obsessive-compulsive disorders. This license agreement runs concurrently with the term of the last to expire of the licensed patents, the last of which currently expires in 2023. The Company paid a fee to obtain the license in the amount of $50,000. Under the license agreement, the Company has agreed to pay Brookhaven a fee of $100,000 in the year of NDA approval of CPP-109, $250,000 in each of the second and third years following approval and $500,000 per year thereafter until the license agreement expires. The Company is also obligated to reimburse Brookhaven for certain of their patent related expenses. The Company believes that as of December 31, 2012 it had a contingent liability of approximately $166,000, related to this obligation. Of these costs approximately $69,000 will become payable in six equal monthly installments at the time the Company submits an NDA to the U.S. Food and Drug Administration (FDA) for CPP-109, and the remaining $97,000 will be due commencing within 60 days of obtaining FDA regulatory approval to sell any product covered by the license agreement. The Company also has the right to enter into sub-license agreements, and if it does, a royalty of 20% of any sub-license fees will be payable to Brookhaven.

Brookhaven has formally advised the Company that they believe that the amount potentially due from the Company to Brookhaven for reimbursement of patent related expenses as of December 31, 2012 was approximately $1.3 million. The Company has advised Brookhaven that it disputes their determination of patent-related expenses due under the license agreement. There can be no assurance as to the outcome of this matter. In any event, no patent-related expenses are due to Brookhaven under the license agreement until the submission by the Company of an NDA for CPP-109. As the Company has not yet filed an NDA for CPP-109, no amounts relating to this matter are accrued in the accompanying December 31, 2012 and 2011 balance sheets.

LICENSE AGREEMENT WITH NORTHWESTERN UNIVERSITY. On August 27, 2009, the Company entered into a license agreement with Northwestern University (Northwestern), under which it acquired worldwide rights to commercialize new GABA aminotransferase inhibitors and derivatives of vigabatrin that have been discovered by Northwestern. Under the terms of the license agreement, Northwestern granted the Company an exclusive worldwide license to certain composition of matter patents related to the new class of inhibitors and a patent application relating to derivatives of vigabatrin. The Company has identified and designated the lead compound under this license as CPP-115.

Under the license agreement with Northwestern, the Company will be responsible for continued research and development of any resulting product candidates. As of December 31, 2012, the Company has paid Northwestern $241,590 in connection with the license, and has accrued license fees of $15,000 in the accompanying December 31, 2012 balance sheet for expenses, maintenance fees and milestones. In addition, the Company is obligated to pay certain milestone payments in future years relating to clinical development activities with respect to CPP-115, and royalties on any products resulting from the license agreement. The next milestone payment of $150,000 is due on the earlier of successful completion of the first Phase II clinical trial for CPP-115 or August 27, 2015.

AGREEMENT WITH NIDA. On April 13, 2010, the Company signed a definitive Clinical Trial Agreement (CTA) with the National Institute on Drug Abuse (NIDA) to jointly conduct a U.S. Phase II(b) clinical trial evaluating CPP-109 for the treatment of cocaine addiction (the Phase II(b) Trial). As part of the CTA, NIDA, under their agreement with the Veteran’s Administration Cooperative Studies Program (VA), agreed to provide substantial resources towards the completion of the Phase II(b) Trial. This 207 subject double-blind, placebo-controlled trial, was conducted at thirteen leading addiction research facilities across the United States. The Phase II(b) Trial was initiated in November 2010 and overseen by the VA, which was responsible for management and statistical analyses of the data collected from this trial. On November 8, 2012, the Company announced top-line results from the Phase II(b) Trial. The data showed that CPP-109 did not meet its primary or two secondary endpoints. The Company expects to receive and analyze, with its collaborator NIDA, the full data set from this trial during the first half of 2013, in order to determine the next steps, if any, in the clinical development of CPP-109.

As of December 31, 2012, the Company estimates that it will be obligated to pay approximately $440,000 of direct costs in connection with contracts related to the Phase II(b) Trial. As of December 31, 2012, the Company had paid approximately $366,000 of this amount and had accounts payable of approximately $5,000 and accrued expenses of approximately $45,000 in the accompanying December 31, 2012 balance sheet related to these contracts. This amount excludes internal costs, such as salaries, benefits and other costs of the Company’s personnel working on the Phase II(b) Trial.

LICENSE AGREEMENT WITH NEW YORK UNIVERSITY AND THE FEINSTEIN INSTITUTE FOR MEDICAL RESEARCH. On December 13, 2011, the Company entered into a license agreement with New York University (NYU) and the Feinstein Institute for Medical Research (FIMR) under which it acquired worldwide rights to commercialize GABA aminotransferase inhibitors in the treatment for Tourette Syndrome. The Company is obligated to pay certain milestone payments in future years relating to clinical development activities and royalties on any products resulting from the license agreement.

LICENSE AGREEMENT WITH BIOMARIN. On October 26, 2012, the Company entered into a strategic collaboration with BioMarin for Firdapse™. The key components of the collaboration include: (i) the Company licensed the exclusive North American rights to Firdapse™ pursuant to a License Agreement, dated as of October 26, 2012 (the License Agreement) between the Company and BioMarin, and (ii) BioMarin made a $5,000,000 investment in the Company pursuant to the terms of a Convertible Promissory Note and Note Purchase Agreement, dated as of October 26, 2012 (the Investment Agreement). The Investment Agreement provides that the Company will use the $5 million solely for the purpose of developing Firdapse™.

Initially, the $5,000,000 investment from BioMarin was treated as a loan to the Company. However, on December 10, 2012, the loan automatically converted, at a conversion rate of $0.75 per share, into 6,666,667 shares of the Company’s authorized but unissued common stock.

As part of the License Agreement, the Company has taken over a Phase III Trial previously being conducted by BioMarin and is obligated to use its diligent efforts to seek to obtain regulatory approval for and to commercialize Firdapse™ in the United States. The Company is obligated to use diligent efforts to complete the double-blind treatment phase of the Phase III trial within 24 months of entering into the License Agreement, and BioMarin has the right to terminate the License Agreement if such treatment phase has not been completed in such 24-month period (unless the Company is using diligent effort to pursue the completion of such treatment phase and has spent at least $5 million in connection with the conduct of the Phase III Trial during such 24 month period). As of December 31, 2012, the Company had disbursed approximately $100,000 in connection with expenses related to the Phase III trial. We anticipate the remaining $4.9 million will be expended during 2013.

As part of the License Agreement, the Company has agreed (i) to pay BioMarin certain royalty payments based on net sales in North America; (ii) to pay to a third-party licensor of the rights sublicensed certain royalty payments based on net sales in North America, and (iii) to pay certain milestone payments that BioMarin is obligated to make (approximately $2.6 million of which will be due upon acceptance by the FDA of a filing of an NDA for Firdapse™ for the treatment of LEMS, and approximately $7.2 million of which will be due on the unconditional approval by the FDA of an NDA for Firdapse™ for the treatment of LEMS). The Company has also agreed to share in the cost of certain post-marketing studies that are being conducted by BioMarin if such studies are required as a condition for approval of the product by the FDA. However, no such payments will be due until the Company has filed an NDA for Firdapse™.

AGREEMENTS WITH CONTRACT MANUFACTURERS, CONTRACT RESEARCH ORGANIZATIONS AND FOR LABORATORIES AND OTHER RELATED TRIAL TESTS. The Company has entered into agreements with contract manufacturers for the manufacture of drug and study placebo for the Company’s trials and studies; with contract research organizations (CROs) to conduct and monitor the Company’s trials and studies; and with various entities for laboratories and other testing related to the Company’s trials and studies. The contractual terms of the agreements vary, but most require certain advances as well as payments based on the achievement of milestones. These agreements are cancellable.

Related Party Transactions

12 Months Ended

Dec. 31, 2012

Related Party Transactions

9.	Related Party Transactions

Since its inception in 2002, the Company has entered into various consulting agreements with non-employee officers, directors and members of the Company’s Scientific Advisory Board, a portion of which were with related parties under common ownership and control. During the years ended December 31, 2012, 2011 and 2010, the Company paid approximately $42,000, $93,000 and $79,000, respectively, in consulting fees to related parties.

The Company has an employment agreement with Patrick J. McEnany, its Chairman, President and Chief Executive Officer and a significant stockholder. Under this agreement, Mr. McEnany will receive an annual base salary of approximately $406,000 in 2013, and may earn bonus compensation based on performance. This agreement expires in November 2013.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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+ Details

Income Taxes

12 Months Ended

Dec. 31, 2012

Income Taxes [Abstract]

Income Taxes

10.

Income Taxes

As of December 31, 2012 and 2011, the Company had deferred tax assets of approximately $15,591,000 and $13,440,000, respectively, of which approximately $13,956,000 and $11,934,000 represent United States federal and state net operating loss carryforwards and start-up costs. The remaining temporary differences represent non-deductible stock option and equity expense. The related deferred tax asset has a 100% valuation allowance as of December 31, 2012 and 2011, as the Company believes it is more likely than not that the deferred tax asset will not be realized. The change in valuation allowance was approximately $2,151,000, $2,012,000 and $1,510,000 in 2012, 2011 and 2010, respectively. There are no other significant temporary differences. The net operating loss carry-forwards of approximately $22,997,000 as of December 31, 2012 will expire at various dates beginning in 2023 and ending in 2032. If an ownership change, as defined under Internal Revenue Code Section 382, occurs, the use of these carry-forwards may be subject to limitation. The effective tax rate of 0% in all periods presented differs from the statutory rate of 35% due to the valuation allowance and because the Company had no taxable income.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

Stockholders' Equity

12 Months Ended

Dec. 31, 2012

Stockholders' Equity [Abstract]

Stockholders' Equity

11.

Stockholders’ Equity

Stock split

On October 3, 2006, the Company’s board of directors approved an approximate 1.4592-to-one stock split (effected in the form of a stock dividend). All stock value, common shares outstanding and per share amounts set forth in these financial statements were adjusted retroactively to reflect this split.

Private Placements

In November 2002, the Company completed a private placement in which it raised gross proceeds of $125,000 through the sale of 729,609 shares of its common stock.

In April 2003, the Company completed a private placement in which it raised net proceeds of $670,457 through the sale of 70,000 shares of its Series A Preferred Stock.

In March 2005, the Company completed a private placement in which it raised net proceeds of $1,046,516 through the sale of 3,954,483 shares of its common stock.

On July 24, 2006, the Company completed a private placement in which it raised net proceeds of $3,225,140 through the sale of 7,644 shares of its Series B Preferred Stock.

Preferred Stock

The Company has 5,000,000 shares of authorized preferred stock, $0.001 par value per share at December 31, 2012 and 2011. No shares of preferred stock were outstanding at December 31, 2012 and 2011.

Common Stock

The Company has 100,000,000 shares of authorized common stock with a par value of $0.001 per share. At December 31, 2012 and 2011, 41,420,687 and 24,701,420 shares, respectively, of common stock were issued and outstanding. Each holder of common stock is entitled to one vote of each share of common stock held of record on all matters on which stockholders generally are entitled to vote.

On November 13, 2006, the Company closed its IPO. In the IPO, the Company sold 3,350,000 shares of its common stock at an initial public offering price of $6.00 per share. The Company received net proceeds from the offering of approximately $17,638,000 (gross proceeds of $20,100,000 less a 7% underwriting discount aggregating $1,407,000 and offering expenses of approximately $1,055,000). At the closing of the IPO, all of the Company’s then outstanding Series A Preferred Stock and Series B Preferred Stock automatically converted into an aggregate of 2,136,860 shares of the Company’s common stock. Costs related to the IPO were charged to paid-in-capital at the successful completion of the IPO.

On June 2, 2008 the Company filed two registration statements on Form S-8 to register: (i) shares of restricted common stock and shares of common stock underlying stock options issued under its 2006 Stock Incentive Plan, and (ii) shares of common stock underlying stock options granted by the Company prior to its IPO.

On August 15, 2012, the Company filed a Registration Statement on Form S-8 to register additional shares of common stock that may be awarded under the 2006 Stock Incentive Plan.

2008 Shelf Registration Statement

On June 2, 2008 the Company filed a Shelf Registration Statement on Form S-3 (the 2008 Shelf Registration Statement) with the SEC to sell up to $30 million of common stock. This Shelf Registration (file no. 333-151368) was declared effective by the SEC on June 26, 2008. The Company conducted the following sales under the 2008 Shelf Registration Statement:

(a)

In September 2008, the Company filed a prospectus supplement and offered for sale to institutional investors 1,488,332 shares of its common stock at $3.00 per share and received gross proceeds of approximately $4.5 million before commissions and expenses of approximately $377,000.

(b)

In October 2009, the Company filed a prospectus supplement and offered for sale to institutional investors 3,973,000 shares of its common stock at $1.00 per share and received gross proceeds of approximately $4.0 million before commissions and expenses of approximately $275,000.

(c)

In August 2010, the Company filed a prospectus supplement and offered for sale to an institutional investor, 1,351,352 shares of its common stock at $1.11 per share and received gross proceeds of approximately $1.5 million before expenses of approximately $44,000.

The 2008 Shelf Registration Statement expired on June 26, 2011 and the Company can no longer sell shares under the 2008 Shelf Registration Statement.

2010 Shelf Registration Statement

On December 3, 2010, the Company filed a second Shelf Registration Statement on Form S-3 (the 2010 Shelf Registration Statement) with the SEC to sell up to $30 million of common stock and common stock purchase warrants. This registration statement (file No. 333-170945) was declared effective by the SEC on December 15, 2010. The Company has to date conducted the following sales under the 2010 Shelf Registration Statement:

(a)

(b)

(c)

The number of shares that the Company can sell and the amount of the gross proceeds that the Company can raise (in the aggregate) at any one time under its currently outstanding Shelf Registration Statement is limited to 20% of the number of shares of outstanding common stock and 33% of the Company’s public float, respectively, pursuant to applicable NASDAQ marketplace and SEC rules.

2012 Form S-1 Registration Statement

BioMarin convertible promissory note automatic conversion into common stock shares

On October 26, 2012, concurrent with the BioMarin license agreement (see Note 8), the Company entered into a note purchase agreement with BioMarin, pursuant to which the Company issued BioMarin a convertible promissory note in the principal amount of $5 million. The $5 million note automatically converted into 6,666,667 shares of the Company’s common stock (at a price of $0.75 per share) on December 10, 2012 (thirty days after the Company publicly released the top-line data from its Phase II(b) Trial).

Nasdaq Listing

The Company’s common stock currently trades on the Nasdaq Capital Market. On December 24, 2012, the Company received a staff deficiency letter from The Nasdaq Stock Market (Nasdaq) notifying the Company that it was not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market. The Nasdaq Listing Rules (the Rules) require listed securities to maintain a minimum bid price of $1.00 per share and, based on the then closing bid prices for the last 30 consecutive business days, the Company no longer met that requirement. Under the Rules, the Company has a grace period of 180 days, or until June 24, 2013, to regain compliance. If at any time within the grace period the Company’s common stock closes at or above $1.00 per share for a minimum of ten consecutive business days, the Nasdaq Stock Market will provide the Company with a written confirmation of compliance and the matter will be closed. In the event the Company does not regain compliance with the Rules prior to the expiration of the grace period, the Company may request a hearing from a Nasdaq Listing Qualifications Panel, which will stay the delisting and allow the Company to present its plan to regain compliance. In addition, the Company may also be eligible for an additional 180-day grace period if at such time it meets the initial listing standards for listing on the Nasdaq Capital Market, with the exception of the bid price requirement.

Stockholder Rights Plan

On September 20, 2011, the Board of Directors approved the Company’s adoption of a Stockholder Rights Plan. Under the Plan, a dividend of one preferred share purchase right (a Right) was declared for each share of common stock of the Company that was outstanding on October 7, 2011. Each Right entitles the holder to purchase from the Company one one-hundredth of a share of Series A Junior Preferred Stock at a purchase price of $7.80, subject to adjustment.

The Rights will trade automatically with the common stock and will not be exercisable until a person or group has become an “acquiring person” by acquiring 17.5% or more of the Company’s outstanding common stock, or a person or group commences, or publicly announces a tender offer that will result in such a person or group owning 17.5% or more of the Company’s outstanding common stock. Upon announcement that any person or group has become an acquiring person, each Right will entitle all rightholders (other than the acquiring person) to purchase, for the exercise price of $7.80, a number of shares of the Company’s common stock having a market value equal to twice the exercise price. Rightholders would also be entitled to purchase common stock of the acquiring person having a value of twice the exercise price if, after a person had become an acquiring person, the Company were to enter into certain mergers or other transactions. If any person becomes an acquiring person, the Board of Directors may, at its option and subject to certain limitations, exchange one share of common stock for each Right.

The Rights have certain anti-takeover effects, in that they would cause substantial dilution to a person or group that attempts to acquire a significant interest in the Company on terms not approved by the Board of Directors. In the event that the Board of Directors determines a transaction to be in the best interests of the Company and its stockholders, the Board of Directors may redeem the Rights for $0.001 per share at any time prior to a person or group becoming an acquiring person. The Rights will expire on September 20, 2016, unless earlier redeemed or exchanged.

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

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-Glossary Preferred Stock

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+ Details

Stock Compensation Plans

12 Months Ended

Dec. 31, 2012

Stock Compensation Plans [Abstract]

Stock Compensation Plans

12.

Stock Compensation Plans

The Company issues options, restricted stock, stock appreciation rights and restricted stock units (collectively, the “Awards”) to employees, directors, consultants and scientific advisors of the Company under the 2006 Stock Incentive Plan (the “Plan”) (see Note 2). Prior to July 2006, the Company granted options pursuant to written agreements to purchase an aggregate of 2,352,254 shares of common stock. Under the Plan, 3,688,828 shares of the Company’s common stock were reserved for issuance. At December 31, 2012, 330,937 of these shares remained available for future issuance under the Plan.

Stock Options

The Company has granted stock options to employees, officers, directors, scientific advisors and consultants generally at exercise prices equal to the market price of the common stock at grant date. Share awards generally vest over a period of 2 to 4 years of continuous service and have contractual terms from 5 to 10 years. Certain awards provide for accelerated vesting if there is a change in control. The Company issues new shares as shares are required to be delivered upon exercise of outstanding stock options. During the year ended December 31, 2012, options to purchase 195,000 shares of the Company’s common stock were exercised on a “cashless” basis, resulting in the issuance of an aggregate of 40,100 shares of the Company’s common stock.

During the years ended December 31, 2012, 2011 and 2010 the Company recorded non-cash stock-based compensation expense related to stock options totaling $340,039, $416,735 and $450,089, respectively.

During the years ended December 31, 2012, 2011 and 2010, the Company granted five-year options to purchase an aggregate of 975,000 shares, 625,000 shares and 465,000 shares, respectively, of the Company’s common stock to certain of the Company’s officers, employees, directors and consultants.

Stock option activity under the Company’s written stock option agreements and the Plan for the year ended December 31, 2012 is summarized as follows:


	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding at beginning of year		3,723,108		$	1.01
Granted		975,000			0.47
Exercised		(195,000	)		0.90
Forfeited or cancelled		(81,667	)		1.28
Expired		(770,906	)		0.88

Outstanding at end of year		3,650,535		$	0.89		3.11	$	0

Exercisable at end of year		3,080,536		$	0.94		2.81	$	0

Other information pertaining to stock option activity during the years ended December 31, 2012, 2011 and 2010 was as follows:


	2012		2011		2010
Weighted–average fair value of granted stock options	$	0.32	$	0.79	$	0.75
Total fair value of vested stock options	$	348,815	$	438,139	$	346,270
Total intrinsic value of exercised stock options	$	45,050	$	—	$	—

The following table summarizes information about the Company’s options outstanding at December 31, 2012:


	Options Outstanding						Options Exercisable
Range of Exercise Prices	Number Outstanding		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Number Exercisable		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price
$0.47		975,000		4.95	$	0.47		525,001		4.95	$	0.47
$0.69		729,610		2.17	$	0.69		729,610		2.17	$	0.69
$0.90		810,000		1.80	$	0.90		810,000		1.80	$	0.90
$1.01 - $1.37		963,333		3.49	$	1.08		843,333		3.42	$	1.08
$2.49 - $2.55		109,000		0.92	$	2.51		109,000		0.92	$	2.51
$3.15 - $6.00		63,592		0.43	$	3.91		63,592		0.43	$	3.91

		3,650,535		3.11	$	0.89		3,080,536		2.81	$	0.94

As of December 31, 2012, there was approximately $233,000 of unrecognized compensation expense related to non-vested stock option awards granted under the Plan. That cost is expected to be recognized over a weighted average period of approximately 1.56 years.

The Company utilizes the Black-Scholes option-pricing model to determine the fair value of stock options on the date of grant. This model derives the fair value of stock options based on certain assumptions related to the expected stock price volatility, expected option life, risk-free interest rate and dividend yield. Commencing in 2011, expected volatility is based on reviews of historical volatility of the Company’s common stock. For 2010 and prior, the Company’s expected volatility was based on the historical volatility of other publicly traded companies in the same industry, due to the Company’s short history as a public entity. The estimated expected option life is based upon estimated employee exercise patterns and considers whether and the extent to which the options are in-the-money. Beginning in 2011, the Company estimates the expected option life for options granted to employees and directors based upon the simplified method. Under this method, the expected life is presumed to be the mid-point between the vesting date and the end of the contractual term. The Company will continue to use the simplified method until it has sufficient historical exercise data to estimate the expected life of the options. The risk-free interest rate assumption is based upon the U.S. Treasury yield curve appropriate for the estimated life of the stock options awards. The expected dividend rate is zero. Stock–based compensation expense also includes an estimate, which the Company makes at grant date, of the number of awards that are expected to be forfeited. The Company revises this estimate in subsequent periods if actual forfeitures differ from those estimates.

Assumptions used during the years were as follows:


	Year ended December 31,
	2012			2011			2010
Risk free interest rate		0.28% to 0.66	%		0.29% to 1.55	%		0.81% to 2.44	%
Expected term		3 to 5 years			3 to 5 years			4 to 5 years
Expected volatility		120	%		130	%		100	%
Expected dividend yield		—	%		—	%		—	%
Expected forfeiture rate		—	%		—	%		—	%

Restricted Stock Units

Under the Plan, participants may be granted restricted stock units, each of which represents a conditional right to receive shares of common stock in the future. The restricted stock units granted under this plan generally vest ratably over a three to four-year period. Upon vesting, the restricted stock units will convert into an equivalent number of shares of common stock. The amount of expense relating to the restricted stock units is based on the closing market price of the Company’s common stock on the date of grant and is amortized on a straight-line basis over the requisite service period. There was no restricted stock unit activity during 2012 and 2011. Restricted stock unit activity during 2010 was as follows:


	2010
	Number of Restricted Stock Units			Weighted Average Grant Date Fair Value
Nonvested balance at beginning of year		5,000		$	4.03
Granted		—			—
Vested		(5,000	)		4.03
Forfeited		—			—

Nonvested balance at end of year		—		$	—

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

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-Name Accounting Standards Codification

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-Name Staff Accounting Bulletin (SAB)

-Number Topic 14

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-Number 93-6

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+ Details

Benefit Plan

12 Months Ended

Dec. 31, 2012

Benefit Plan [Abstract]

Benefit Plan

13.

Benefit Plan

The Company maintains an employee savings plan pursuant to Section 401(k) of the Internal Revenue Code covering all eligible employees. Subject to certain dollar limits, eligible employees may contribute up to 15% of their pre-tax annual compensation to the plan. The Company has elected to make discretionary matching contributions of employee contributions up to 4% of an employee’s gross salary. For the years ended December 31, 2012, 2011 and 2010, the Company’s matching contributions were approximately $28,000, $34,000 and $33,000, respectively.

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5, 6, 7, 8

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-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 30

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-URI http://asc.fasb.org/topic&trid=2235017

+ Details

Quarterly Financial Information (unaudited)

12 Months Ended

Dec. 31, 2012

Quarterly Financial Information (Unaudited) [Abstract]

Quarterly Financial Information (unaudited)

14.

Quarterly Financial Information (unaudited)

The following table presents unaudited supplemental quarterly financial information for the years ended December 31, 2012 and 2011:


	Quarter Ended
	March 31, 2012			June 30, 2012			September 30, 2012			December 31, 2012
Revenues	$	—		$	—		$	—		$	—
Loss from operations		(1,364,710	)		(1,067,364	)		(1,283,713	)		(1,505,353	)
Net loss		(1,089,186	)		(289,080	)		(2,621,535	)		(76,585	)
Loss per share – basic and diluted	$	(0.04	)	$	(0.01	)	$	(0.08	)	$	(0.00	)


	Quarter Ended
	March 31, 2011			June 30, 2011			September 30, 2011			December 31, 2011
Revenues	$	—		$	—		$	—		$	—
Loss from operations		(1,519,250	)		(1,397,463	)		(1,131,010	)		(2,034,416	)
Net loss		(1,517,136	)		(1,394,151	)		(1,127,841	)		(2,351,934	)
Loss per share – basic and diluted	$	(0.08	)	$	(0.06	)	$	(0.05	)	$	(0.10	)

Quarterly basic and diluted net loss per common share were computed independently for each quarter and do not necessarily total to the full year basic and diluted net loss per common share.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References+ Details

Basis of Presentation and Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2012

Basis of Presentation and Significant Accounting Policies [Abstract]

DEVELOPMENT STAGE COMPANY

USE OF ESTIMATES

CASH AND CASH EQUIVALENTS

CERTIFICATES OF DEPOSIT

SHORT-TERM INVESTMENTS

PREPAID EXPENSES

PROPERTY AND EQUIPMENT

OPERATING LEASES

FAIR VALUE OF FINANCIAL INSTRUMENTS

FAIR VALUE MEASUREMENTS


	Fair Value Measurements at Reporting Date Using
	Balances as of December 31, 2012		Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Certificates of deposit	$	6,502,825	$	—	$	6,502,825	$	—

Short-term investments	$	7,504,444	$	7,504,444	$	—	$	—

Warrants liability	$	498,587	$	—	$	—	$	498,587


	Fair Value Measurements at Reporting Date Using
	Balances as of December 31, 2011		Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Warrants liability	$	1,645,240	$	—	$	—	$	1,645,240

WARRANTS LIABILITY

RESEARCH AND DEVELOPMENT

STOCK-BASED COMPENSATION

For the years ended December 31, 2012, 2011 and 2010, the Company recorded stock-based compensation expense as follows:


	2012		2011		2010
Research and development	$	100,221	$	111,283	$	179,737
General and administrative		239,818		305,452		270,352

Total stock-based compensation	$	340,039	$	416,735	$	450,089

CONCENTRATION OF CREDIT RISK

INCOME TAXES

COMPREHENSIVE INCOME (LOSS)

NET LOSS PER SHARE


	2012		2011		2010
Options to purchase common stock		3,650,535		3,723,108		3,135,619
Warrants to purchase common stock		8,710,870		1,523,370		—

Potential equivalent common stock excluded		12,361,405		5,246,478		3,135,619

SEGMENT INFORMATION

SEGMENT INFORMATION. Management has determined that the Company operates in one reportable segment, which is the development and commercialization of pharmaceutical products.

RECLASSIFICATIONS

RECLASSIFICATIONS. Certain prior year amounts in the financial statements have been reclassified to conform to the current year presentation.

Basis of Presentation and Significant Accounting (Tables)

12 Months Ended

Dec. 31, 2012

Basis of Presentation and Significant Accounting Policies [Abstract]

Fair value measurement specific to assets or liability


	Fair Value Measurements at Reporting Date Using
	Balances as of December 31, 2012		Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Certificates of deposit	$	6,502,825	$	—	$	6,502,825	$	—

Short-term investments	$	7,504,444	$	7,504,444	$	—	$	—

Warrants liability	$	498,587	$	—	$	—	$	498,587


	Fair Value Measurements at Reporting Date Using
	Balances as of December 31, 2011		Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Warrants liability	$	1,645,240	$	—	$	—	$	1,645,240

Stock-based compensation expense

For the years ended December 31, 2012, 2011 and 2010, the Company recorded stock-based compensation expense as follows:


	2012		2011		2010
Research and development	$	100,221	$	111,283	$	179,737
General and administrative		239,818		305,452		270,352

Total stock-based compensation	$	340,039	$	416,735	$	450,089

Potential shares excluded from determination of basic and diluted net loss per share

The potential shares, which are excluded from the determination of basic and diluted net loss per share as their effect is anti-dilutive, are as follows, for the years ended December 31, 2012, 2011 and 2010:


	2012		2011		2010
Options to purchase common stock		3,650,535		3,723,108		3,135,619
Warrants to purchase common stock		8,710,870		1,523,370		—

Potential equivalent common stock excluded		12,361,405		5,246,478		3,135,619

- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

+ References+ Details

Warrants liability at Fair Value (Tables)

12 Months Ended

Dec. 31, 2012

Warrants Liability at Fair Value [Abstract]

Calculated value of warrants liability determined using Black-Scholes option-pricing model

The calculated value of the 2011 warrants liability was determined using the Black-Scholes option-pricing model with the following assumptions:


	December 31, 2012			December 31, 2011
Risk free interest rate		0.60	%		0.92	%
Expected term		4.34 years			5.34 years
Expected volatility		136	%		119	%
Expected dividend yield		0	%		0	%
Expected forfeiture rate		0	%		0	%

Summary of Company's warrants liability activity

The following table rolls forward the fair value of the Company’s warrants liability activity for the years ended December 31, 2012 and 2011:


	2012			2011
Fair value, beginning of period	$	1,645,240		$	—
Issuance of warrants		—			1,325,332
Exercise of warrants		(16,875	)		—
Change in fair value		(1,129,778	)		319,908

Fair value, end of period	$	498,587		$	1,645,240

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 18

-Subparagraph c(2), d, e, f

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32

-Subparagraph a, c(1), c(2), c(3), d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 10

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13467-108611

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13476-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 30

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 14

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 19

-Subparagraph a, b, c(1), d(1)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 15

-Subparagraph b-d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References+ Details

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2012

Property and Equipment [Abstract]

Property and Equipment Net

Property and equipment, net consists of the following as of December 31:


	2012			2011
Computer equipment	$	74,191		$	26,791
Furniture and equipment		49,451			44,469

		123,642			71,260
Less: Accumulated depreciation		(69,963	)		(59,074	)

Total property and equipment, net	$	53,679		$	12,186

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

+ References+ Details

Accrued Expenses and Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2012

Accrued Expenses and Other Liabilities [Abstract]

Accrued expenses and other liabilities

Accrued expenses and other liabilities consist of the following as of December 31:


	2012		2011
Accrued pre-clinical and clinical trial expenses	$	197,572	$	101,568
Accrued professional fees		51,050		111,920
Accrued compensation and benefits		5,949		239,442
Accrued license fees		15,000		102,500
Deferred rent		765		—
Other		10,666		14,437

Current accrued expenses and other liabilities		281,002		569,867

Deferred rent – non-current		21,878		9,518

Non-current accrued expenses and other liabilities		21,878		9,518

Total accrued expenses and other liabilities	$	302,880	$	579,385

Commitments (Tables)

12 Months Ended

Dec. 31, 2012

Commitments [Abstract]

Future minimum lease payments under the operating lease agreement

As of December 31, 2012, future minimum lease payments under the operating lease agreement are as follows:


2013	$	66,232
2014		68,054
2015		70,096
2016		72,198
2017		67,827

	$	344,407

Stock Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2012

Stock Compensation Plans [Abstract]

Summary of stock option activity under the Company's written stock option agreements and the Plan

Stock option activity under the Company’s written stock option agreements and the Plan for the year ended December 31, 2012 is summarized as follows:


	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding at beginning of year		3,723,108		$	1.01
Granted		975,000			0.47
Exercised		(195,000	)		0.90
Forfeited or cancelled		(81,667	)		1.28
Expired		(770,906	)		0.88

Outstanding at end of year		3,650,535		$	0.89		3.11	$	0

Exercisable at end of year		3,080,536		$	0.94		2.81	$	0

Schedule of other share based compensation stock option activity

Other information pertaining to stock option activity during the years ended December 31, 2012, 2011 and 2010 was as follows:


	2012		2011		2010
Weighted–average fair value of granted stock options	$	0.32	$	0.79	$	0.75
Total fair value of vested stock options	$	348,815	$	438,139	$	346,270
Total intrinsic value of exercised stock options	$	45,050	$	—	$	—

Summary of company's stock options outstanding

The following table summarizes information about the Company’s options outstanding at December 31, 2012:


	Options Outstanding						Options Exercisable
Range of Exercise Prices	Number Outstanding		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Number Exercisable		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price
$0.47		975,000		4.95	$	0.47		525,001		4.95	$	0.47
$0.69		729,610		2.17	$	0.69		729,610		2.17	$	0.69
$0.90		810,000		1.80	$	0.90		810,000		1.80	$	0.90
$1.01 - $1.37		963,333		3.49	$	1.08		843,333		3.42	$	1.08
$2.49 - $2.55		109,000		0.92	$	2.51		109,000		0.92	$	2.51
$3.15 - $6.00		63,592		0.43	$	3.91		63,592		0.43	$	3.91

		3,650,535		3.11	$	0.89		3,080,536		2.81	$	0.94

Fair value of stock options based on certain assumptions

Assumptions used during the years were as follows:


	Year ended December 31,
	2012			2011			2010
Risk free interest rate		0.28% to 0.66	%		0.29% to 1.55	%		0.81% to 2.44	%
Expected term		3 to 5 years			3 to 5 years			4 to 5 years
Expected volatility		120	%		130	%		100	%
Expected dividend yield		—	%		—	%		—	%
Expected forfeiture rate		—	%		—	%		—	%

Summary of Restricted stock unit activity

Restricted stock unit activity during 2010 was as follows:


	2010
	Number of Restricted Stock Units			Weighted Average Grant Date Fair Value
Nonvested balance at beginning of year		5,000		$	4.03
Granted		—			—
Vested		(5,000	)		4.03
Forfeited		—			—

Nonvested balance at end of year		—		$	—

- Definition

Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

+ References+ Details

Quarterly Financial Information (Tables)

12 Months Ended

Dec. 31, 2012

Quarterly Financial Information (Unaudited) [Abstract]

Schedule of quarterly financial information

The following table presents unaudited supplemental quarterly financial information for the years ended December 31, 2012 and 2011:


	Quarter Ended
	March 31, 2012			June 30, 2012			September 30, 2012			December 31, 2012
Revenues	$	—		$	—		$	—		$	—
Loss from operations		(1,364,710	)		(1,067,364	)		(1,283,713	)		(1,505,353	)
Net loss		(1,089,186	)		(289,080	)		(2,621,535	)		(76,585	)
Loss per share – basic and diluted	$	(0.04	)	$	(0.01	)	$	(0.08	)	$	(0.00	)


	Quarter Ended
	March 31, 2011			June 30, 2011			September 30, 2011			December 31, 2011
Revenues	$	—		$	—		$	—		$	—
Loss from operations		(1,519,250	)		(1,397,463	)		(1,131,010	)		(2,034,416	)
Net loss		(1,517,136	)		(1,394,151	)		(1,127,841	)		(2,351,934	)
Loss per share – basic and diluted	$	(0.08	)	$	(0.06	)	$	(0.05	)	$	(0.10	)

Organization and Description of Business (Details Textual) (USD $)	1 Months Ended			12 Months Ended			132 Months Ended	0 Months Ended	1 Months Ended				12 Months Ended		1 Months Ended
	Aug. 31, 2012	May 24, 2012	Oct. 28, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2012	Mar. 08, 2011 2010 Shelf Registration Statement [Member]	Aug. 28, 2012 2010 Shelf Registration Statement [Member]	Aug. 31, 2012 2010 Shelf Registration Statement [Member]	Oct. 28, 2011 2010 Shelf Registration Statement [Member]	Mar. 31, 2011 2010 Shelf Registration Statement [Member]	Dec. 31, 2012 2010 Shelf Registration Statement [Member]	Dec. 03, 2010 2010 Shelf Registration Statement [Member]	May 24, 2012 2012 Form S-1 Registration Statement [Member]	Dec. 31, 2012 CPP Florida [Member]
Organization and Description of Business (Textual) [Abstract]
Common stock, par value				$ 0.001	$ 0.001		$ 0.001									$ 0.01
Preferred stock, par value				$ 0.001	$ 0.001		$ 0.001									$ 0.01
Number of common stock sold								2,259,943	4,000,000		3,046,740				6,000,000
Maximum common stock to be issued under shelf registration statement														$ 30,000,000
Number of warrants sold (in shares)									1,200,000		1,523,370				6,000,000
Common stock and warrants offer price per share									$ 1.50		$ 1.15				$ 0.80
Warrants exercise price									2.08		1.30				1.04
Common stock offer price per share								$ 1.12
Gross proceeds from issuance of common stock				9,564,640	5,542,578	1,456,153	43,138,942	2,500,000
Gross proceeds from issuance of common stock and warrants									6,000,000		3,500,000				4,800,000
Underwriting commission and other expenses		$ 795,000								$ 440,000	$ 335,000	$ 300,000
Warrants Expiration Date	Aug. 28, 2017		Apr. 28, 2017
Maximum percentage of outstanding shares that company can sell under shelf registration statement													20.00%
Maximum percentage of company float allowed to sell under registration statement													33.00%
Organization And Description Of Business (Additional Textual) [Abstract]
Warrants expiration period		5 years

Basis of Presentation and Significant Accounting Policies (Details) (USD $)	Dec. 31, 2012	Dec. 31, 2011
Fair value measurement specific to assets or liability
Certificates of deposit	$ 6,502,825
Short-term investments	7,504,444
Warrants liability	498,587	1,645,240
Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) [Member]
Fair value measurement specific to assets or liability
Certificates of deposit
Short-term investments	7,504,444
Significant Other Observable Inputs (Level 2) [Member]
Fair value measurement specific to assets or liability
Certificates of deposit	6,502,825
Short-term investments
Warrants liability
Significant Unobservable Inputs (Level 3) [Member]
Fair value measurement specific to assets or liability
Warrants liability	$ 498,587	$ 1,645,240

- Definition

Value of outstanding derivative securities that permit the holder the right to purchase securities (usually equity) from the issuer at a specified price.

+ References+ Details

Basis of Presentation and Significant Accounting Policies (Details 1) (USD $)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Stock-based compensation expense
Total stock-based compensation	$ 340,039	$ 416,735	$ 450,089
Research and development [Member]
Stock-based compensation expense
Total stock-based compensation	100,221	111,283	179,737
General and administrative [Member]
Stock-based compensation expense
Total stock-based compensation	$ 239,818	$ 305,452	$ 270,352

- Definition

Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.

+ References+ Details

Basis of Presentation and Significant Accounting Policies (Details 2)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Potential shares excluded from determination of basic and diluted net loss per share
Potential equivalent common stock excluded	12,361,405	5,246,478	3,135,619
Options to purchase common stock [Member]
Potential shares excluded from determination of basic and diluted net loss per share
Potential equivalent common stock excluded	3,650,535	3,723,108	3,135,619
Warrants to purchase common stock [Member]
Potential shares excluded from determination of basic and diluted net loss per share
Potential equivalent common stock excluded	8,710,870	1,523,370

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Antidilution

-URI http://asc.fasb.org/extlink&oid=6505113

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Diluted Earnings Per Share

-URI http://asc.fasb.org/extlink&oid=6510752

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Contingent Stock Agreement

-URI http://asc.fasb.org/extlink&oid=6508534

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 40

-Subparagraph c

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 13, 14

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 07-4

-Paragraph 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 171

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Basis of Presentation and Significant Accounting Policies (Details Textual) (USD $)	12 Months Ended					12 Months Ended		12 Months Ended		12 Months Ended
	Dec. 31, 2012 Segment	Dec. 31, 2011	Dec. 31, 2010	Aug. 28, 2012 2010 Shelf Registration Statement [Member]	Oct. 28, 2011 2010 Shelf Registration Statement [Member]	Dec. 31, 2012 Maximum [Member]	Dec. 31, 2011 Maximum [Member]	Dec. 31, 2012 Minimum [Member]	Dec. 31, 2011 Minimum [Member]	Dec. 31, 2012 Computer equipment [Member]	Dec. 31, 2012 Furniture and equipment [Member] Maximum [Member]	Dec. 31, 2012 Furniture and equipment [Member] Minimum [Member]	Dec. 31, 2012 Leasehold Improvements [Member] Maximum [Member]	Dec. 31, 2012 Leasehold Improvements [Member] Minimum [Member]
Basis of Presentation and Significant Accounting Policies (Textual) [Abstract]
Maturity period of certificates of deposit						1 year		3 months
Useful life of assets										3 years	6 years	3 years	6 years	3 years
Number of warrants sold in offering				1,200,000	1,523,370
Potentially dilutive warrants to purchase common stock				2.08	1.30	2.08	2.08	1.04	1.04
Basis of Presentation and Significant Accounting Policies (Additional Textual) [Abstract]
Maximum maturity period of cash and cash equivalent	3 months
Deferred rent in accrued expenses and other liabilities	$ 22,643	$ 9,518
Minimum amortization period of compensation cost on straight line basis	3 years
Maximum amortization period of compensation cost on straight line basis	5 years
Stock option exercise price range, Minimum	$ 0.47	$ 0.47	$ 0.47
Stock option exercise price range, Maximum	$ 6.00	$ 6.00	$ 6.00
Number of reportable segment	1

Warrants liability at Fair Value (Details) (Warrant [Member])	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Warrant [Member]
Calculated value of warrants liability determined using Black-Scholes option-pricing model
Risk free interest rate	0.60%	0.92%
Expected term	4 years 4 months 2 days	5 years 4 months 2 days
Expected volatility	136.00%	119.00%
Expected dividend yield	0.00%	0.00%
Expected forfeiture rate	0.00%	0.00%

Warrants liability at Fair Value (Details 1) (USD $)	12 Months Ended
Warrants liability at Fair Value (Details 1) (USD $)	Dec. 31, 2012	Dec. 31, 2011
Summary of Company's warrants liability activity
Fair value, beginning of period	$ 1,645,240
Issuance of warrants		1,325,332
Exercise of warrants	(16,875)
Change in fair value	(1,129,778)	319,908
Fair value, end of period	$ 498,587	$ 1,645,240

Warrants liability at Fair Value (Details Textual) (USD $)	12 Months Ended		132 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2012
Assets and Liabilities at Fair Value (Textual) [Abstract]
Number of warrants exercised during the period	12,500
Proceeds from Warrant Exercises	$ 16,249		$ 16,249
Recognition of warrants fair value at date of issuance		$ 1,325,332

Prepaid Expenses (Details) (USD $)	Dec. 31, 2012	Dec. 31, 2011
Prepaid expenses
Prepaid research fees	$ 1,138,185
Prepaid insurance	143,520	178,536
Prepaid subscriptions fees	12,369	9,942
Prepaid rent	683	2,267
Other	14,713	8,371
Total prepaid expenses	$ 1,309,470	$ 199,116

- Definition

The total of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer, and the aggregate carrying amount of current assets, as of the balance sheet date, not separately presented elsewhere in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer).

+ References+ Details

- Definition

Carrying amount as of the balance sheet date of unamortized costs of insurance coverage, which will be charged against earnings ratably over the period in which contractually agreed upon coverage's will be in effect; such periods expire within one year or the normal operating cycle, if longer.

+ References+ Details

- Definition

Carrying amount as of the balance sheet date of rental payments made in advance of the rental period; such amounts will be charged against earnings within one year or the normal operating cycle, if longer.

+ References+ Details

Property and Equipment (Details) (USD $)	Dec. 31, 2012	Dec. 31, 2011
Property and Equipment Net
Property and equipment, gross	$ 123,642	$ 71,260
Less: Accumulated depreciation	(69,963)	(59,074)
Total property and equipment, net	53,679	12,186
Computer equipment [Member]
Property and Equipment Net
Property and equipment, gross	74,191	26,791
Furniture and equipment [Member]
Property and Equipment Net
Property and equipment, gross	$ 49,451	$ 44,469

- Definition

The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement.

+ References+ Details

- Definition

Gross amount of long-lived physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.

+ References+ Details

- Definition

Amount, net of accumulated depreciation, depletion and amortization, of long-lived physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.

+ References+ Details

Property and Equipment (Details Textual) (USD $)	1 Months Ended	12 Months Ended
Property and Equipment (Details Textual) (USD $)	Jun. 30, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Property and Equipment (Textual) [Abstract]
Depreciation expenses		$ 10,889	$ 42,835	$ 25,741
Extension period of original lease term	5 years		5 years

- Definition

The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation.

+ References+ Details

Accrued Expenses and Other Liabilities (Details) (USD $)	Dec. 31, 2012	Dec. 31, 2011
Accrued expenses and other liabilities
Accrued pre-clinical and clinical trial expenses	$ 197,572	$ 101,568
Accrued professional fees	51,050	111,920
Accrued compensation and benefits	5,949	239,442
Accrued license fees	15,000	102,500
Deferred rent	765
Other	10,666	14,437
Current accrued expenses and other liabilities	281,002	569,867
Deferred rent - non-current	21,878	9,518
Non-current accrued expenses and other liabilities	21,878	9,518
Total accrued expenses and other liabilities	$ 302,880	$ 579,385

Accrued Expenses and Other Liabilities (Details Textual) (USD $)	Dec. 31, 2011
Accrued Expenses and Other Liabilities (Textual) [Abstract]
Accrued compensation and benefits	$ 233,000

Commitments (Details) (USD $)	Dec. 31, 2012
Future minimum lease payments under the operating lease agreement
2013	$ 66,232
2014	68,054
2015	70,096
2016	72,198
2017	67,827
Total	$ 344,407

- Definition

Amount of required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year.

+ References+ Details

- Definition

Amount of required minimum rental payments maturing in the next fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year.

+ References+ Details

- Definition

Amount of required minimum rental payments maturing in the fifth fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year.

+ References+ Details

- Definition

Amount of required minimum rental payments maturing in the forth fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year.

+ References+ Details

- Definition

Amount of required minimum rental payments maturing in the third fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year.

+ References+ Details

- Definition

Amount of required minimum rental payments maturing in the second fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year.

+ References+ Details

Agreements (Details Textual) (USD $)			12 Months Ended		1 Months Ended	12 Months Ended			12 Months Ended
Agreements (Details Textual) (USD $)	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2012 Northwestern License Agreement [Member]	Dec. 31, 2012 License Agreement with Brookhaven [Member] Installment	Oct. 31, 2012 License Agreement with BioMarin [Member]	Dec. 31, 2012 License Agreement with BioMarin [Member]	Dec. 10, 2012 License Agreement with BioMarin [Member]	Oct. 26, 2012 License Agreement with BioMarin [Member]	Dec. 31, 2012 NIDA Agreement [Member]
Agreements (Textual) [Abstract]
Expiry date of licensed patents				2023
License fee paid			$ 241,590	$ 50,000
License fee due in year of approval				100,000
License fee due in second year				250,000
License fee due in third year				250,000
License fee due after third year				500,000
Contingent liability for license patent related expenses				166,000
Contingent liability for license patent related expenses in installment basis				69,000
Number of equal monthly installments for payment of contingent liability				6
Contingent liability for license patent related expenses due within 60 days				97,000
Maximum days to pay contingent liability after approval				60 days
Royalty for sub license				20.00%
Amount for reimbursement of patent related expense estimated by receiving company				1,300,000
Accrued license fees	15,000	102,500	15,000
Milestone Payments			150,000
Estimated direct costs in connection with contracts									440,000
Paid direct costs in connection with contracts									366,000
Accounts payable in connection with contracts									5,000
Accrued direct cost in connection with contracts									45,000
Date on which strategic collaboration is entered into						Oct. 26, 2012
Investment pursuant to strategic collaboration								5,000,000
Investment solely for purpose of developing Firdapse								5,000,000
Shares issued upon settlement of promissory convertible note							6,666,667
Convertible note price per share							$ 0.75
Estimated time from entering license agreement to completion of double blind treatment phase period of Firdapse phase three trial						24 months
Minimum Amount to be Spent for Firdapse Phase Three Trial						5,000,000
Paid costs in connection with Firdapse phase three trial						100,000
Minimum amount to be spent on Firdapse Phase Three Trial						4,900,000
Milestone payment due upon NDA acceptance					2,600,000
Milestone payment due upon NDA approval						$ 7,200,000

Related Party Transactions (Details) (USD $)	12 Months Ended
Related Party Transactions (Details) (USD $)	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Related Party Transactions (Textual) [Abstract]
Consulting fees to related parties	$ 42,000	$ 93,000	$ 79,000
Annual base salary of related party	$ 406,000
Expiration Date of Employment Agreement with CEO	2012-11

Income Taxes (Details) (USD $)	12 Months Ended
Income Taxes (Details) (USD $)	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Income Taxes (Textual) [Abstract]
Deferred tax assets	$ 15,591,000	$ 13,440,000
Net operating loss carryforward and start-up costs	13,956,000	11,934,000
Valuation allowance	100.00%	100.00%
Change in valuation allowance	2,151,000	2,012,000	1,510,000
Net operating loss carryforwards	$ 22,997,000
Net operating loss carryforwards expiration date	Beginning in 2023 and ending in 2032.
Effective tax rate	0.00%
Statutory rate	35.00%

- Definition

A ratio calculated by dividing the reported amount of income tax expense attributable to continuing operations for the period by GAAP-basis pretax income from continuing operations.

+ References+ Details

- Definition

The domestic federal statutory tax rate applicable under enacted tax laws to the Company's pretax income from continuing operations for the period. The "statutory" tax rate is the regular tax rate if there are alternative tax systems.

+ References+ Details

- Definition

The amount of the change in the period in the valuation allowance for a specified deferred tax asset.

+ References+ Details

Stockholders' Equity (Details Textual) (USD $)	1 Months Ended	12 Months Ended			132 Months Ended	1 Months Ended				0 Months Ended	1 Months Ended				0 Months Ended	1 Months Ended			12 Months Ended		1 Months Ended
Stockholders' Equity (Details Textual) (USD $)	Oct. 31, 2006	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2012	Jul. 24, 2006 Private Placement [Member]	Mar. 31, 2005 Private Placement [Member]	Apr. 30, 2003 Private Placement [Member]	Nov. 30, 2002 Private Placement [Member]	Nov. 13, 2006 IPO [Member]	Aug. 31, 2010 2008 Shelf Registration Statement [Member]	Oct. 31, 2009 2008 Shelf Registration Statement [Member]	Sep. 30, 2008 2008 Shelf Registration Statement [Member]	Jun. 02, 2008 2008 Shelf Registration Statement [Member]	Mar. 08, 2011 2010 Shelf Registration Statement [Member]	Aug. 28, 2012 2010 Shelf Registration Statement [Member]	Aug. 31, 2012 2010 Shelf Registration Statement [Member]	Oct. 28, 2011 2010 Shelf Registration Statement [Member]	Dec. 31, 2012 2010 Shelf Registration Statement [Member]	Dec. 03, 2010 2010 Shelf Registration Statement [Member]	May 24, 2012 2012 Form S-1 Registration Statement [Member]	Dec. 10, 2012 BioMarin Convertible Promissory Note [Member]	Sep. 20, 2011 Series A Junior Preferred Stock [Member] Stockholder Rights Plan [Member]
Stockholders' Equity (Textual) [Abstract]
Proceeds from private placements						$ 3,225,140	$ 1,046,516	$ 670,457	$ 125,000
Number of common stock sold in offering						7,644	3,954,483	70,000	729,609	3,350,000	1,351,352	3,973,000	1,488,332		2,259,943	4,000,000		3,046,740			6,000,000
Common stock shares issued and outstanding		41,420,687	24,701,420		41,420,687
IPO per share price										$ 6.00
Net proceeds from the offering										17,638,000
Gross proceeds from the offering										20,100,000
Underwriting discount										7.00%
Offering expense										1,055,000	44,000	275,000	377,000		300,000	440,000		335,000
Conversion of Series A Preferred Stock and Series B Preferred Stock into common stock upon IPO										2,136,860
Securities underwriting expense										1,407,000
Maximum common stock to be issued under shelf registration statement														30,000,000						30,000,000
Conversion price per share																						$ 0.75
Gross proceeds from issuance of common stock		9,564,640	5,542,578	1,456,153	43,138,942						1,500,000	4,000,000	4,500,000		2,500,000
Underwriting commissions and other expenses																					795,000
Number of warrants sold (in shares)																1,200,000		1,523,370			6,000,000
Warrants exercise price																2.08		1.30			1.04		7.80
Gross proceeds from issuance of common stock and warrants																6,000,000		3,500,000			4,800,000
Common stock and warrants offer price per share																$ 1.50		$ 1.15			$ 0.80
Common stock offer price per share											$ 1.11	$ 1.00	$ 3.00		$ 1.12
Maximum percentage of outstanding shares that company can sell under shelf registration statement																			20.00%
Maximum percentage of company float allowed to sell under registration statement																			33.00%
Warrant Expiration Period																					5 years
Convertible promissory note, principal amount		$ 5,000,000																				$ 5,000,000
Common stock, shares authorized		100,000,000	100,000,000		100,000,000
Preferred share purchase right price																							$ 7.80
Convertible promissory note shares issued upon conversion																						6,666,667
Minimum Percentage of outstanding stock acquired by a person or group to trigger Shareholder Rights Plan																							17.50%
Stockholders Rights Plan redemption price of right																							$ 0.001
Number of days for the conversion of shares after public release of top-line data																						30 days
Class of Warrant or Right Expiration Date																	Aug. 28, 2017	Apr. 28, 2017
Stockholders' Equity (Additional Textual) [Abstract]
Stock Split ratio	1.4592
Preferred stock, shares authorized		5,000,000	5,000,000		5,000,000
Preferred stock, par value		$ 0.001	$ 0.001		$ 0.001
Preferred stock, shares outstanding
Common stock, par value		$ 0.001	$ 0.001		$ 0.001
Common stock shares outstanding		41,420,687	24,701,420		41,420,687
Nasdaq listing minimum bid price required		$ 1.00
Number of consecutive business days for basis of bid price requirement		30 days
Number of consecutive business days above minimum price to regain minimum bid listing compliance		10 days
Nasdaq minimum price bid requirement grace period		180 days

Stock Compensation Plans (Details) (USD $)	12 Months Ended
Stock Compensation Plans (Details) (USD $)	Dec. 31, 2012
Summary of stock option activity under the Company's written stock option agreements and the Plan
Number of options, Outstanding at beginning of year	3,723,108
Number of options, Granted	975,000
Number of options, Exercised	(195,000)
Number of options, Forfeited or cancelled	(81,667)
Number of options, Expired	(770,906)
Number of options, Outstanding at end of year	3,650,535
Number of options, Exercisable at end of year	3,080,536
Weighted average exercise price, Outstanding at beginning of year	$ 1.01
Weighted average exercise price, Granted	$ 0.47
Weighted average exercise price, Exercised	$ 0.90
Weighted average exercise price, Forfeited or cancelled	$ 1.28
Weighted average exercise price, Expired	$ 0.88
Weighted average exercise price, Outstanding at end of year	$ 0.89
Weighted average exercise price, Exercisable at end of year	$ 0.94
Weighted Average Remaining Contractual Term (Years), Outstanding at end of year	3 years 1 month 10 days
Weighted Average Remaining Contractual Term (Years), Exercisable at end of year	2 years 9 months 22 days
Aggregate Intrinsic value, Outstanding at end of year	$ 0
Aggregate Intrinsic value, Exercisable at end of year	$ 0

Stock Compensation Plans (Details 1) (USD $)	12 Months Ended
Stock Compensation Plans (Details 1) (USD $)	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Schedule of other share based compensation stock option activity
Weighted average fair value of granted stock options	$ 0.32	$ 0.79	$ 0.75
Total fair value of vested stock options	$ 348,815	$ 438,139	$ 346,270
Total intrinsic value of exercised stock options	$ 45,050

Stock Compensation Plans (Details 2) (USD $)	12 Months Ended
Stock Compensation Plans (Details 2) (USD $)	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Summary of company's stock options outstanding
Range of Exercise Prices Lower Range	$ 0.47	$ 0.47	$ 0.47
Range of Exercise Prices Upper Range	$ 6.00	$ 6.00	$ 6.00
Number Outstanding ,Options Outstanding	3,650,535
Weighted Average Remaining Contractual Life (Years), Options Outstanding	3 years 1 month 10 days
Weighted Average Exercise Price, Options Outstanding	$ 0.89
Number Exercisable Options Exercisable	3,080,536
Weighted Average Remaining Contractual Life (Years), Options Exercisable	2 years 9 months 22 days
Weighted Average Exercise Price, Options Exercisable	$ 0.94
$0.47 [Member]
Summary of company's stock options outstanding
Range of Exercise Prices Upper Range	$ 0.47
Number Outstanding ,Options Outstanding	975,000
Weighted Average Remaining Contractual Life (Years), Options Outstanding	4 years 11 months 12 days
Weighted Average Exercise Price, Options Outstanding	$ 0.47
Number Exercisable Options Exercisable	525,001
Weighted Average Remaining Contractual Life (Years), Options Exercisable	4 years 11 months 12 days
Weighted Average Exercise Price, Options Exercisable	$ 0.47
$0.69 [Member]
Summary of company's stock options outstanding
Range of Exercise Prices Upper Range	$ 0.69
Number Outstanding ,Options Outstanding	729,610
Weighted Average Remaining Contractual Life (Years), Options Outstanding	2 years 2 months 1 day
Weighted Average Exercise Price, Options Outstanding	$ 0.69
Number Exercisable Options Exercisable	729,610
Weighted Average Remaining Contractual Life (Years), Options Exercisable	2 years 2 months 1 day
Weighted Average Exercise Price, Options Exercisable	$ 0.69
$0.90 [Member]
Summary of company's stock options outstanding
Range of Exercise Prices Upper Range	$ 0.90
Number Outstanding ,Options Outstanding	810,000
Weighted Average Remaining Contractual Life (Years), Options Outstanding	1 year 9 months 18 days
Weighted Average Exercise Price, Options Outstanding	$ 0.90
Number Exercisable Options Exercisable	810,000
Weighted Average Remaining Contractual Life (Years), Options Exercisable	1 year 9 months 18 days
Weighted Average Exercise Price, Options Exercisable	$ 0.90
$1.01 - $1.37 [Member]
Summary of company's stock options outstanding
Range of Exercise Prices Lower Range	$ 1.01
Range of Exercise Prices Upper Range	$ 1.37
Number Outstanding ,Options Outstanding	963,333
Weighted Average Remaining Contractual Life (Years), Options Outstanding	3 years 5 months 27 days
Weighted Average Exercise Price, Options Outstanding	$ 1.08
Number Exercisable Options Exercisable	843,333
Weighted Average Remaining Contractual Life (Years), Options Exercisable	3 years 5 months 1 day
Weighted Average Exercise Price, Options Exercisable	$ 1.08
$2.49 - $2.55 [Member]
Summary of company's stock options outstanding
Range of Exercise Prices Lower Range	$ 2.49
Range of Exercise Prices Upper Range	$ 2.55
Number Outstanding ,Options Outstanding	109,000
Weighted Average Remaining Contractual Life (Years), Options Outstanding	11 months 1 day
Weighted Average Exercise Price, Options Outstanding	$ 2.51
Number Exercisable Options Exercisable	109,000
Weighted Average Remaining Contractual Life (Years), Options Exercisable	11 months 1 day
Weighted Average Exercise Price, Options Exercisable	$ 2.51
$3.15 - $6.00 [Member]
Summary of company's stock options outstanding
Range of Exercise Prices Lower Range	$ 3.15
Range of Exercise Prices Upper Range	$ 6.00
Number Outstanding ,Options Outstanding	63,592
Weighted Average Remaining Contractual Life (Years), Options Outstanding	5 months 5 days
Weighted Average Exercise Price, Options Outstanding	$ 3.91
Number Exercisable Options Exercisable	63,592
Weighted Average Remaining Contractual Life (Years), Options Exercisable	5 months 5 days
Weighted Average Exercise Price, Options Exercisable	$ 3.91

Stock Compensation Plans (Details 3)	12 Months Ended
Stock Compensation Plans (Details 3)	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Fair value of stock options based on certain assumptions
Risk free interest rate, Minimum	0.28%	0.29%	0.81%
Risk free interest rate, Maximum	0.66%	1.55%	2.44%
Expected volatility	120.00%	130.00%	100.00%
Expected dividend yield
Expected forfeiture rate
Maximum [Member]
Fair value of stock options based on certain assumptions
Expected term	5 years	5 years	5 years
Minimum [Member]
Fair value of stock options based on certain assumptions
Expected term	3 years	3 years	4 years

- Definition

The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period.

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Stock Compensation Plans (Details 4) (Restricted Stock [Member], USD $)	12 Months Ended
	Dec. 31, 2010
Restricted Stock [Member]
Number of Restricted Stock Units
Nonvested balance at beginning of year	5,000
Granted
Vested	(5,000)
Forfeited
Nonvested balance at end of year
Weighted Average Grant Date Fair Value
Nonvested Weighted Average Grant Date Fair Value balance at beginning of year	$ 4.03
Granted, Weighted Average Grant Date Fair Value
Vested, Weighted Average Grant Date Fair Value	$ 4.03
Forfeitures, Weighted Average Grant Date Fair Value
Nonvested Weighted Average Grant Date Fair Value balance at end of year

Stock Compensation Plans (Details Textual) (USD $)	12 Months Ended			132 Months Ended
Stock Compensation Plans (Details Textual) (USD $)	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2012
Stock Compensation (Textual) [Abstract]
Stock options granted pursuant to written agreements to date	975,000
Stock option contractual term	2 years 9 months 22 days
Number of stock option exercised, cashless	195,000
Expected dividend rate
Non-cash stock-based compensation expense	$ 340,039	$ 416,735	$ 450,089	$ 5,962,200
Stock Options [Member]
Stock Compensation (Textual) [Abstract]
Stock options granted pursuant to written agreements to date	975,000	625,000	465,000
Number of stock option exercised, cashless	195,000
Shares issued for cashless option exercise	40,100
Stock option contractual term	5 years
Unrecognized compensation expense related to non-vested stock option awards granted under the Plan	233,000			233,000
Expected remaining weighted average vesting period	1 year 6 months 22 days
Expected dividend rate	0.00%
Non-cash stock-based compensation expense	$ 340,039	$ 416,735	$ 450,089
Stock Options [Member] \| Maximum [Member]
Stock Compensation (Textual) [Abstract]
Stock option contractual term	10 years
Stock option vesting period	4 years
Stock Options [Member] \| Minimum [Member]
Stock Compensation (Textual) [Abstract]
Stock option contractual term	5 years
Stock option vesting period	2 years
Restricted Stock Units (RSUs) [Member] \| Maximum [Member]
Stock Compensation (Textual) [Abstract]
Stock option vesting period	4 years
Restricted Stock Units (RSUs) [Member] \| Minimum [Member]
Stock Compensation (Textual) [Abstract]
Stock option vesting period	3 years
2006 Stock Incentive Plan [Member]
Stock Compensation (Textual) [Abstract]
Common stock reserved for issuance under the Plan	3,688,828			3,688,828
2006 Stock Incentive Plan [Member] \| Common Stock [Member]
Stock Compensation (Textual) [Abstract]
Stock options granted pursuant to written agreements to date	2,352,254
Common stock shares available for future issuance under the Plan	330,937			330,937

Benefit Plan (Details Textual) (USD $)	12 Months Ended
Benefit Plan (Details Textual) (USD $)	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Benefit Plan (Textual) [Abstract]
Employees contribution of pre-tax annual compensation	15.00%
Discretionary matching contributions of employee contributions of an employee's gross salary	4.00%
Contributions	$ 28,000	$ 34,000	$ 33,000

Quarterly Financial Information (Unaudited) (Details) (USD $)	3 Months Ended								12 Months Ended											132 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2008	Dec. 31, 2007	Dec. 31, 2006	Dec. 31, 2005	Dec. 31, 2004	Dec. 31, 2003	Dec. 31, 2002	Dec. 31, 2012
Quarterly Financial Information
Revenues											$ 488,958									$ 488,958
Loss from operations	(1,505,353)	(1,283,713)	(1,067,364)	(1,364,710)	(2,034,416)	(1,131,010)	(1,397,463)	(1,519,250)	(5,221,140)	(6,082,139)	(4,024,181)									(44,481,638)
Net income (loss)	$ (76,585)	$ (2,621,535)	$ (289,080)	$ (1,089,186)	$ (2,351,934)	$ (1,127,841)	$ (1,394,151)	$ (1,517,136)	$ (4,076,386)	$ (6,391,062)	$ (4,006,323)	$ (7,241,928)	$ (10,564,597)	$ (4,139,493)	$ (2,729,454)	$ (1,805,380)	$ (539,820)	$ (428,615)	$ (255,945)	$ (42,179,003)
Loss per share - basic and diluted	$ 0.00	$ (0.08)	$ (0.01)	$ (0.04)	$ (0.10)	$ (0.05)	$ (0.06)	$ (0.08)	$ (0.14)	$ (0.29)	$ (0.22)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 10, 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 19

-Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 20

-Article 9

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28, 29, 30

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.22)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e565-108580

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Other Comprehensive Income

-URI http://asc.fasb.org/extlink&oid=6519514

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Net Income

-URI http://asc.fasb.org/extlink&oid=6518256

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A7

-Appendix A

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.19)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 87-21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.18)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Subsequent Events (Details Textual) (Subsequent Event [Member], USD $)	12 Months Ended
	Dec. 31, 2012
Subsequent Event [Member]
Subsequent Event (Textual)
Stock options granted in period contractual term	5 years
Stock options granted in period	75,000
Stock option exercise price	$ 0.47
Stock option Vesting Period	3 years

Commitments (Details Textual) (USD $)	1 Months Ended	12 Months Ended
Commitments (Details Textual) (USD $)	Jun. 30, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Commitments (Textual) [Abstract]
Extension period of original lease term	5 years		5 years
Rent expense		$ 65,310	$ 61,653	$ 65,781
Operating Leases expiration dates		2017-11