Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Sep. 30, 2011
Dec. 31, 2010
ASSETS    
Cash $ 129,959 $ 119,091
Money market funds 801,115 1,601,006
Funds on deposit with law firm 0 50,000
Grant receivable 0 116,485
Advances on research and development contract services 33,962 10,100
Prepaid expenses and other current assets 35,479 34,646
Total current assets 1,000,515 1,931,328
Total assets 1,000,515 1,931,328
LIABILITIES AND STOCKHOLDERS' EQUITY    
Accounts payable and accrued expenses 81,107 28,345
Research and development contract liabilities 114,568 0
Liquidated damages payable under registration rights agreement 74,000 74,000
Due to stockholder 92,717 92,717
Total current liabilities 362,392 195,062
Commitments and contingencies    
Stockholders' equity:    
Preferred stock, $0.0001 par value; authorized - 10,000,000 shares; issued - None 0 0
Common stock, $0.0001 par value; authorized - 100,000,000 shares; issued and outstanding - 35,259,142 shares and 35,077,178 shares at September 30, 2011 and December 31, 2010, respectively 3,526 3,508
Additional paid-in capital 7,962,219 7,662,559
Deficit accumulated during the development stage (7,327,622) (5,929,801)
Total stockholders' equity 638,123 1,736,266
Total liabilities and stockholders' equity $ 1,000,515 $ 1,931,328