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 9 Months Ended 181 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Revenues:          
Grant revenue          $ 200,400 $ 12,963,100
Collaboration revenue             2,283,600
Other             1,123,500
Total revenues          200,400 16,370,200
Operating expenses:          
Research and development 551,300 1,119,600 1,916,100 3,092,200 31,471,800
Acquired in-process research and development             7,523,200
General and administrative 897,000 799,000 2,047,500 2,430,200 32,728,600
Total operating expenses 1,448,300 1,918,600 3,963,600 5,522,400 71,723,600
Loss from operations (1,448,300) (1,918,600) (3,963,600) (5,322,000) (55,353,400)
Other expenses, net:          
Interest expense, net (360,900) (235,400) (1,000,500) (611,700) (11,362,700)
Change in warrant and put and note extension option liabilities (1,940,200) (357,800) (3,823,700) (357,800) (2,606,400)
Loss on early extinguishment of debt    (3,537,000)    (3,537,000) (4,761,300)
Other income             81,900
Income (loss) before income taxes 131,000 (5,333,200) (1,140,400) (9,112,900) (68,789,100)
Income taxes    1,800 2,700 3,700 23,200
Net income (loss) 131,000 (5,335,000) (1,143,100) (9,116,600) (68,812,300)
Deemed dividend on Series A Preferred stock    (10,193,200)    (10,193,200) (10,193,200)
Net income (loss) attributable to common stockholders 131,000 (15,528,200) (1,143,100) (19,309,800) (79,005,500)
Basic net income (loss) attributable to common stockholders per common share $ 0.01 $ (0.85) $ (0.05) $ (1.11)  
Diluted net loss attributable to common stockholders per common share $ (0.02) $ (0.85) $ (0.05) $ (1.11)  
Weighted average shares used in computing basic net income (loss) attributable to common stockholders per common share 22,210,573 18,292,301 21,554,929 17,411,993  
Weighted average shares used in computing diluted net income (loss) attributable to common stockholders per common share 22,210,573 18,292,301 21,554,929 17,411,993  
Comprehensive loss $ 131,000 $ (5,335,000) $ (1,143,100) $ (9,116,600) $ (68,812,300)