Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

v2.4.0.6
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Revenue:    
PCT products, services, other $ 767,765 $ 877,567
Grant revenue 219,964 462,465
Total revenue 987,729 1,340,032
Costs and expenses:    
Cost of PCT products and services 342,865 376,514
Research and development 969,473 1,232,566
Selling and marketing 931,073 1,204,892
General and administrative 2,034,458 1,924,814
Total operating costs and expenses 4,277,869 4,738,786
Operating loss (3,290,140) (3,398,754)
Other income (expense):    
Interest (expense) income (136,595) 2,303
Therapeutic discovery credit 0 244,479
Change in fair value of warrant derivative liability 430,424 0
Total other income (expense) 293,828 246,782
Loss before income taxes (2,996,312) (3,151,972)
Income tax benefit 0 23,710
Net loss (2,996,312) (3,128,262)
Accrued interest on convertible debt 18,896 0
Accrued and deemed dividends on convertible preferred stock (2,130,245) (502,564)
Net loss applicable to common shareholders $ (5,107,661) $ (3,630,826)
Net loss per share attributable to common stockholders - basic and diluted (in dollars per share) $ (0.77) $ (1.35)
Weighted average common stock shares outstanding used in the basic and diluted net loss per share calculation (in shares) 6,618,484 2,687,141