Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF OPERATIONS

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CONDENSED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenue:        
Revenue $ 2,075,000 $ 0 $ 2,500,000 $ 0
Operating expenses:        
Research and development 4,758,590 3,699,057 13,008,190 6,184,762
Sales and marketing 767,762 809,333 2,518,114 2,036,793
General and administrative 2,156,965 1,322,048 5,663,583 3,124,439
Total operating expenses 7,683,317 5,830,438 21,189,887 11,345,994
Loss from operations (5,608,317) (5,830,438) (18,689,887) (11,345,994)
Other income (expense):        
Change in fair value of derivative liabilities 0 0 0 (26,265,177)
Interest income (expense), net 2,656 5,258 12,365 (1,029,479)
Loss on retirement of fixed assets 0 (22,818) 0 (22,818)
Gain on debt extinguishment 0 0 0 2,084,368
Total 2,656 (17,560) 12,365 (25,233,106)
Net loss $ (5,605,661) $ (5,847,998) $ (18,677,522) $ (36,579,100)
Basic and diluted loss per common share $ (0.43) $ (0.62) $ (1.45) $ (5.08)
Weighted average shares outstanding, basic and diluted 13,018,494 9,458,359 12,907,893 7,203,642