Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Jun. 30, 2011
Dec. 31, 2010
ASSETS    
Cash $ 34,234 $ 119,091
Money market funds 1,301,089 1,601,006
Funds on deposit with law firm 0 50,000
Grant receivable 0 116,485
Advances on research and development contract services 63,356 10,100
Prepaid expenses and other current assets 22,395 34,646
Total current assets 1,421,074 1,931,328
Total assets 1,421,074 1,931,328
LIABILITIES AND STOCKHOLDERS' EQUITY    
Accounts payable and accrued expenses 80,799 28,345
Research and development contract liabilities 89,550 0
Liquidated damages payable under registration rights agreement 74,000 74,000
Due to stockholder 92,717 92,717
Total current liabilities 337,066 195,062
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 June 30, 2011 and December 31, 2010, respectively 3,526 3,508
Additional paid-in capital 77,090,561 7,662,559
Deficit accumulated during the development stage (6,628,569) (5,929,801)
Total stockholders' equity 1,084,008 1,736,266
Total liabilities and stockholders' equity $ 1,421,074 $ 1,931,328