Quarterly report pursuant to sections 13 or 15(d)

4. STOCKHOLDERS' EQUITY (Tables)

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4. STOCKHOLDERS' EQUITY (Tables)
3 Months Ended
Mar. 31, 2013
Equity [Abstract]  
Compensation expense associated with stock options
  Three Months Ended
  March 31, 2013
   
Expected term 6.25 years
Volatility 63-82%
Dividend yield 0.0%
Risk-free interest rate 1.24%
Companys option and warrant activity
    Three Months Ended  
    March 31, 2013  
    Shares     Weighted Average Exercise Price  
             
Outstanding at beginning of period     749,211     $ 6.86  
                 
Granted     25,587     $ 7.56  
                 
Outstanding at end of period and expected to vest     774,798     $ 6.88  
                 
Options exercisable     263,963     $ 5.61  
                 
Weighted average fair value of options granted during period   $ 7.56     $ 4.42  
Stock-based compensation expenses
    Three Months Ended  
    March 31,  
    2013     2012  
             
Research and development   $ 53,107     $ 413  
General and administrative     165,437       45,841  
                 
Total stock based compensation expense   $ 218,544     $ 46,254