Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (USD $)
3 Months Ended 6 Months Ended 172 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Revenues:          
Grant revenue    $ 316,300 $ 200,400 $ 870,900 $ 12,963,100
Collaboration revenue             2,283,600
Other             1,123,500
Total revenues    316,300 200,400 870,900 16,370,200
Operating expenses:          
Research and development 1,106,300 1,227,500 1,972,600 2,255,400 28,097,500
Acquired in-process research and development             7,523,200
General and administrative 575,900 894,600 1,631,200 2,021,200 28,749,600
Total operating expenses 1,682,200 2,122,100 3,603,800 4,276,600 64,370,300
Loss from operations (1,682,200) (1,805,800) (3,403,400) (3,405,700) (48,000,100)
Other expenses, net:          
Interest expense, net (273,500) (450,500) (376,300) (1,182,100) (9,817,800)
Change in put and note extension option and warrant liabilities          78,000 (418,500)
Loss on early extinguishment of debt             (1,193,500)
Other income             47,500
Loss before income taxes (1,955,700) (2,256,300) (3,779,700) (4,665,800) (58,545,400)
Income taxes       1,900 1,600 18,700
Net loss (1,955,700) (2,256,300) (3,781,600) (4,667,400) (58,564,100)
Basic and diluted net loss per common share $ (0.12) $ (0.15) $ (0.22) $ (0.35)  
Weighted average shares used in computing basic and diluted net loss per common share 16,842,655 15,241,904 16,967,379 13,237,669  
Comprehensive loss $ (1,955,700) $ (2,256,300) $ (3,781,600) $ (4,667,400) $ (58,564,100)