Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Jun. 30, 2012
Dec. 31, 2011
ASSETS    
Cash $ 2,176,664 $ 14,301
Money market funds 6,134 351,129
Advances on research and development contract services 46,140 28,983
Prepaid expenses and other current assets 25,729 35,354
Total current assets 2,254,667 429,767
Total assets 2,254,667 429,767
LIABILITIES AND STOCKHOLDERS EQUITY    
Accounts payable and accrued expenses 89,054 109,341
Research and development contract liabilities 95,550 74,688
Liquidated damages payable under registration rights agreement 74,000 74,000
Due to stockholder 92,717 92,717
Total current liabilities 351,321 350,746
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 - 41,441,142 shares and 35,259,142 shares at June 30, 2012 and December 31, 2011, respectively 4,144 3,526
Additional paid-in capital 11,222,873 8,073,260
Deficit accumulated during the development stage (9,323,671) (7,997,765)
Total stockholders' equity 1,903,346 79,021
Total liabilities and stockholders' equity $ 2,254,667 $ 429,767