Rebus (RBSH) 10-Q 6 Aug 15 2015 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 03, 2015
Document Information [Line Items]
Entity Registrant Name	GENSPERA INC
Entity Central Index Key	1,421,204
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	GNSZ
Entity Common Stock, Shares Outstanding		37,139,644
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,015

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 121	$ 2,316
Prepaid expenses	81	197
Total current assets	202	2,513
Office equipment, net of accumulated depreciation of $25 and $23	14	12
Intangible assets, net of accumulated amortization of $120 and $111	93	101
Other assets	3	3
Total assets	312	2,629
Current liabilities:
Accounts payable	1,052	989
Accrued expenses	1,981	1,438
Convertible notes - stockholder	105	105
Total current liabilities	3,138	2,532
Total liabilities	$ 3,138	$ 2,532
Commitments and contingencies
Stockholders’ (deficit) equity:
Preferred stock, par value $0.0001 per share; 30,000,000 shares authorized, none issued and outstanding	$ 0	$ 0
Common stock, par value $0.0001 per share; 150,000,000 shares authorized, 33,548,366 and 33,181,197 shares issued and outstanding, respectively	3	3
Additional paid-in capital	39,925	39,473
Accumulated deficit	(42,754)	(39,379)
Total stockholders’ (deficit) equity	(2,826)	97
Total liabilities and stockholders’ (deficit) equity	$ 312	$ 2,629

CONDENSED BALANCE SHEETS _Paren

CONDENSED BALANCE SHEETS [Parenthetical] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Office equipment, accumulated depreciation (in dollars)	$ 25	$ 23
Intangible assets, accumulated amortization (in dollars)	$ 120	$ 111
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	30,000,000	30,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	33,548,366	33,181,197
Common stock, shares outstanding	33,548,366	33,181,197

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Jun. 30, 2015	Jun. 30, 2014
Operating expenses:
Research and development	$ 610	$ 924	$ 1,425	$ 2,028
General and administrative	921	682	1,949	1,518
Total operating expenses	1,531	1,606	3,374	3,546
Loss from operations	(1,531)	(1,606)	(3,374)	(3,546)
Interest income (expense), net	(1)	1	(1)	1
Loss before provision for income taxes	(1,532)	(1,605)	(3,375)	(3,545)
Provision for income taxes	0	0	0	0
Net loss	$ (1,532)	$ (1,605)	$ (3,375)	$ (3,545)
Net loss per common share, basic and diluted (in dollars per share)	$ (0.05)	$ (0.06)	$ (0.1)	$ (0.13)
Weighted average shares outstanding (in shares)	33,548,366	28,705,705	33,425,058	28,012,097

CONDENSED STATEMENT OF STOCKHOL

CONDENSED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) - 6 months ended Jun. 30, 2015 - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit
Balance at Dec. 31, 2014	$ 97	$ 3	$ 39,473	$ (39,379)
Balance (in shares) at Dec. 31, 2014		33,181,197
Stock-based compensation	138	$ 0	138	0
Common stock issued as payment of services and consulting fees	27	$ 0	27	0
Common stock issued as payment of services and consulting fees (in shares)		30,000
Exercise of warrants	287	$ 0	287	0
Exercise of warrants (in shares)		337,169
Net loss	(3,375)	$ 0	0	(3,375)
Balance at Jun. 30, 2015	$ (2,826)	$ 3	$ 39,925	$ (42,754)
Balance (in shares) at Jun. 30, 2015		33,548,366

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net loss	$ (3,375)	$ (3,545)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	10	12
Stock-based compensation	165	1,342
Decrease (increase) in operating assets:
Prepaid expenses	116	(11)
Increase (decrease) in operating liabilities:
Accounts payable and accrued expenses	606	(369)
Cash used in operating activities	(2,478)	(2,571)
Cash flows from investing activities:
Acquisition of office equipment	(4)	(2)
Cash used in investing activities	(4)	(2)
Cash flows from financing activities:
Proceeds from sale of common stock and warrants sold	0	4,104
Cost of common stock and warrants sold	0	(327)
Proceeds from exercise of warrants	287	0
Cash provided by financing activities	287	3,777
Net (decrease) increase in cash	(2,195)	1,204
Cash and cash equivalents, beginning of period	2,316	3,587
Cash and cash equivalents, end of period	$ 121	$ 4,791

BACKGROUND

BACKGROUND	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations [Text Block]	NOTE 1 – BACKGROUND GenSpera, Inc. (“we”, “us”, “our company”, “our”, “GenSpera” or the “Company”) was formed under the laws of the State of Delaware in November 2003, and has its principal office in San Antonio, Texas. We are an early-stage, pre-revenue, pharmaceutical company focused on the discovery and development of prodrug cancer therapeutics for the treatment of solid tumors, including liver, brain, prostate and other cancers. We plan to develop a series of therapies based on our target-activated prodrug technology platform. Our primary focus at the present time is the clinical development of our lead compound, mipsagargin (formerly referred to as G-202), a novel therapeutic agent with a unique mechanism of action. We have completed a Phase Ia/Ib dose escalation, safety, tolerability and dose refinement study of mipsagargin, in which we treated a total of 44 patients (includes Phase Ia and Ib), including two patients with hepatocellular carcinoma (HCC), or liver cancer, who experienced prolonged stabilization of disease up to eleven months after initiation of treatment. We have completed a Phase II clinical trial of mipsagargin in patients with liver cancer, in which twenty-five patients were treated. In May 2015, we received a final clinical study report. We consider the study outcome achieved positive results, with 63% of treated patients having stable disease at two (2) months, and with a median time to progression of 4.5 months. These results support our plans to continue the development of mipsagargin for patients with liver cancer, as well as proceed with our clinical development strategy in other indications including glioblastoma and prostate cancer trials. Although the data from our completed trials appear promising, the outcome of our ongoing or future trials may ultimately be unsuccessful. We are currently conducting a Phase II clinical trial in glioblastoma (a type of brain cancer), in which fifteen patients have been treated as of August 3, 2015. We have deferred the development of mipsagargin in Phase 2 prostate clinical trials until the second quarter of 2016

MANAGEMENT'S PLANS TO CONTINUE

MANAGEMENT'S PLANS TO CONTINUE AS A GOING CONCERN	6 Months Ended
	Jun. 30, 2015
Management Plans to Continue as Going Concern [Abstract]
Management Plans to Continue as Going Concern Disclosure [Text Block]	NOTE 2 – MANAGEMENT’S PLANS TO CONTINUE AS A GOING CONCERN Basis of Presentation We have prepared our financial statements on the basis that we will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. Certain information and note disclosures normally included in annual financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although we believe that the disclosures made are adequate to make the information not misleading. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for fair presentation have been included. We have incurred losses since inception and have an accumulated deficit of $ 42.8 To date, we have generated no sales or revenues, have incurred significant losses and expect to incur significant additional losses as we advance mipsagargin through clinical studies. Consequently, our operations are subject to all the risks inherent in the establishment of a pre-revenue business enterprise as well as those risks associated with a company engaged in the research and development of pharmaceutical compounds. Our cash and cash equivalents balance at June 30, 2015 was $ 121 39 2.2 In the event financing is not obtained, we may pursue cost cutting measures as well as explore the sale of selected assets to generate additional funds. If we are required to significantly reduce operating expenses and delay, reduce the scope of, or eliminate any of our development programs or clinical trials, these events could have a material adverse effect on: our business, results of operations, and financial condition. These factors raise significant doubt about our ability to continue as a going concern. The financial statements do not include any adjustments relating to recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should we be unable to continue as a going concern. Our auditors’ report issued in connection with our a December 31, 2014 financial statements expressed an opinion that our capital resources as of the date of their Audit Report were not sufficient to sustain operations or complete our planned activities for the upcoming year unless we raised additional funds. Accordingly, notwithstanding the capital raised in our July 2015 private placement, our current cash level raises substantial doubt about our ability to continue as a going concern past December 2015. If we do not obtain additional funds by such time, we may no longer be able to continue as a going concern and will cease operation which means that our shareholders will lose their entire investment.

SUMMARY OF CRITICAL ACCOUNTING

SUMMARY OF CRITICAL ACCOUNTING POLICIES AND USE OF ESTIMATES	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	NOTE 3 – SUMMARY OF CRITICAL ACCOUNTING POLICIES AND USE OF ESTIMATES The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying disclosures. Actual results may differ from those estimates. Research and development costs are charged to expense as incurred. Our research and development expenses consist primarily of expenditures for manufacturing, clinical trials, employee compensation and consulting costs and expenses. We incurred research and development expenses of approximately $ 0.6 0.9 We incurred research and development expenses of approximately $ 1.4 2.0 Loss per Share Basic loss per share is calculated by dividing net loss and net loss attributable to common shareholders by the weighted average number of common shares outstanding for the period. Basic and diluted loss per share are the same, in that any potential common stock equivalents would have the effect of being anti-dilutive in the computation of net loss per share. Six months ended June 30, 2015 2014 Shares underlying options outstanding 8,926,695 8,462,895 Shares underlying warrants outstanding 18,549,724 20,510,987 Shares underlying convertible notes outstanding 274,713 265,894 27,751,132 29,239,776 Our short-term financial instruments, including cash, accounts payable and other liabilities, consist primarily of instruments with maturities of three months or less when acquired. We believe that the fair values of our current assets and current liabilities approximate their reported carrying amounts. Valuation Hierarchy - GAAP establishes a valuation hierarchy for disclosure of the inputs to valuation used to measure fair value. This hierarchy prioritizes the inputs into three broad levels as follows: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3: Unobservable inputs based on our own assumptions used to measure assets and liabilities at fair value. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. As of June 30, 2015, the Company has no such assets or liabilities outstanding. We measure the cost of employee services received in exchange for equity awards based on the grant-date fair value of the awards. All awards under our stock-based compensation programs are accounted for at fair value and that cost is recognized over the period during which an employee is required to provide service in exchange for the award (the vesting period). Compensation expense for options granted to non-employees is determined in accordance with the fair value of the consideration received or the fair value of the equity instruments issued, whichever is a more reliable measurement. Compensation expense for awards granted to non-employees is re-measured on each accounting period. Determining the appropriate fair value of stock-based compensation requires the input of subjective assumptions, including the expected life of the stock-based compensation and the volatility of our stock price. We use the Black-Scholes option-pricing model to value our stock option awards which incorporates our stock price, volatility, U.S. risk-free interest rate, dividend rate, and estimated life. In August 2014, the FASB issued Accounting Standards Update “ASU” 2014-15 on “Presentation of Financial Statements Going Concern (Subtopic 205-40) – Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern”. This update provides guidance about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosures. The amendments require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. The amendments contained in this update are effective for public and nonpublic entities for annual periods ending after December 15, 2016. We are currently assessing the impact of the adoption of ASU 2014-15, and we have not yet determined the effect of the standard on our ongoing financial reporting. In January 2015, the FASB issued ASU No. 2015-01, Income Statement - Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items, simplifying the income statement presentation. The guidance does not change the requirement to disclose items that are unusual in nature and occur infrequently. ASU No. 2015-01 is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period, although early adoption is permitted. Exclusive of a material transaction that would qualify for extraordinary item presentation in future periods, we do not expect the adoption of this standard to materially impact our financial statements. In April 2015, the Financial Accounting Standard Board issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This guidance is effective for annual and interim reporting periods of public entities beginning after December 15, 2015, and early adoption is permitted. We do not expect the adoption of this standard to materially impact our consolidated financial statements. There are various other recently issued updates, most of which represented technical corrections to the accounting literature or application to specific industries, and are not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	6 Months Ended
	Jun. 30, 2015
Supplemental Cash Flow Information [Abstract]
Cash Flow, Supplemental Disclosures [Text Block]	NOTE 4 – SUPPLEMENTAL CASH FLOW INFORMATION Six months ended June 30, 2015 2014 Non-cash financial activities: Common stock options issued as payment of accrued compensation $ — $ 962 Common stock issued for consulting fees 27 — There was no cash paid for interest and income taxes for the six months ended June 30, 2015 and 2014.

ACCRUED EXPENSES

ACCRUED EXPENSES	6 Months Ended
	Jun. 30, 2015
Accrued Liabilities, Current [Abstract]
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	NOTE 5 – ACCRUED EXPENSES Accrued expenses consist of the following (in thousands): June 30, 2015 December 31, 2014 Accrued compensation and benefits $ 1,621 $ 1,108 Accrued research and development 156 163 Accrued other 204 167 Total accrued expenses $ 1,981 $ 1,438

CONVERTIBLE NOTES PAYABLE

CONVERTIBLE NOTES PAYABLE	6 Months Ended
	Jun. 30, 2015
Notes Payable Disclosure [Abstract]
Notes Payable Disclosure [Text Block]	NOTE 6 – CONVERTIBLE NOTES PAYABLE We previously entered into convertible notes with our chief executive officer pursuant to which we borrowed an aggregate of $ 0.2 0.1 4.2 32,000 30,000 0.50

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	NOTE 7 – COMMITMENTS AND CONTINGENCIES Legal Matters On March 12, 2012, GenSpera instituted a declaratory judgment action against Annastasiah Mhaka (“Mhaka”) in the United States District Court for the District of Maryland: GenSpera, Inc. v. Mhaka, Civil Action No. MJG-12-772 (D. Md.). In its complaint, GenSpera, as the exclusive licensee of the inventions described and claimed in the U.S. Patent No. 7,468,354 (“the ‘354 patent”) and U.S. Patent No. 7,767,648 (“the ‘648 patent”), sought a declaratory judgment that Mhaka should not be added to either the ‘354 patent or the ‘648 patent as an inventor. On April 2, 2012, Mhaka filed and served her answer and counterclaim, in which she sought to be added as an inventor to the ‘354 patent and the ‘648 patent pursuant to 35 U.S.C. § 256. On November 1, 2012, Mhaka filed a second complaint in Maryland state court, asserting state tort claims against GenSpera and Drs. Samuel Denmeade and John Isaacs. On May 1, 2013, the District Court granted GenSpera’s motion for summary judgment in the original case. Reserving any ruling on the issue of whether Mhaka’s state law tort claims were preempted by federal patent law, the Court denied defendants’ motion to dismiss Mhaka’s complaint in the second case and directed Mhaka to re-file her claims as counterclaims in the original action. On May 14, 2013, Mhaka filed an amended answer and counterclaims in the consolidated action, re-pleading her tort claims as counterclaims. On June 3, 2013, GenSpera (along with Drs. Denmeade and Isaacs) filed a reply to the counterclaims, denying their allegations and raising a number of affirmative defenses. On January 2, 2014, Drs. Isaacs and Denmeade moved for summary judgment on the grounds that Mhaka’s tort claims were barred by the applicable statute of limitations, and GenSpera joined in the motion. On May 6, 2014, GenSpera moved separately for summary judgment, a motion that Drs. Denmeade and Isaacs joined in part. On September 12, 2014, the District Court granted GenSpera’s motion for summary judgment as well as the motion for summary judgment filed by Drs. Denmeade and Isaacs. Judgment in favor of GenSpera, Dr. Isaacs, and Dr. Denmeade was entered concurrently for purposes of both the original case and the second case. On October 10, 2014, Mhaka filed notices of Appeal with the United States Courts of Appeals for the Fourth Circuit and Federal Circuit. On December 11, 2014, GenSpera (along with Drs. Denmeade and Isaacs) filed a motion to dismiss the appeal before the United States Court of Appeals for the Fourth Circuit on the ground that the Court of Appeals for the Federal Circuit possesses exclusive jurisdiction over any appeal from the District Court. On December 29, 2014, Mhaka filed an opposition to the motion to dismiss and moved the Court of Appeals for the Fourth Circuit to stay appellate proceedings pending resolution of the appeal before the United States Court of Appeal for the Federal Circuit. On January 12, 2015, the Appellees filed an opposition to the motion to stay. On March 17, 2015, the Court of Appeals for the Fourth Circuit dismissed Mhaka’s appeal for lack of jurisdiction. In the appellate proceedings before the United States Court of Appeals for the Federal Circuit, Mhaka originally filed her opening brief on December 26, 2014. Mhaka filed a corrected opening brief on January 20, 2015. On February 12, 2015, the Appellees filed their responsive brief, and on March 16, 2015, Mhaka filed a reply brief. Oral argument took place on July 9, 2015. On July 16, 2015, the Federal Circuit entered judgment in our favor, affirming the district court in all respects.

CAPITAL STOCK AND STOCKHOLDER'S

CAPITAL STOCK AND STOCKHOLDER'S EQUITY	6 Months Ended
	Jun. 30, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	NOTE 8 – CAPITAL STOCK AND STOCKHOLDER’S EQUITY Common Stock In March 2015, we granted an aggregate of 30,000 27,000 During the six months ended June 30, 2015, 337,169 287,000

STOCK OPTIONS

STOCK OPTIONS	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	NOTE 9 – STOCK OPTIONS Our 2009 Executive Compensation Plan (“2009 Plan”) and our 2007 Equity Compensation Plan (“2007 Plan”) allow for the issuance of up to 6,000,000 12,000,000 Six months ended June 30, 2015 2014 Research and development $ 22 $ 16 General and administrative 50 171 $ 72 $ 187 Number of Weighted- Weighted-average Aggregate Outstanding at December 31, 2014 8,685,095 $ 1.65 Granted 318,600 $ 0.80 Exercised — — Forfeited (77,000) $ 2.30 Outstanding at June 30, 2015 8,926,695 $ 1.61 3.6 $ 168 Exercisable at June 30, 2015 8,683,595 $ 1.63 3.6 $ 152 As of June 30, 2015, there was approximately $ 84,000 During the six months ended June 30, 2015, we issued options to purchase 106,000 212,600 1,948,902 106,000 357,370 Six months ended June 30, 2015 2014 Volatility 57.7 % 55.8 % Expected term (years) 3.5 3.4 Risk-free interest rate 1.0 % 0.5 % Dividend yield 0 % 0 %

WARRANTS

WARRANTS	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Fair Value [Text Block]	NOTE 10 – WARRANTS We account for common stock purchase warrants as either equity instruments or derivative liabilities depending on the specific terms of the warrant. Warrants are accounted for as derivative liabilities if the warrants allow for cash settlement or provide for modification of the warrant exercise price in the event subsequent sales of common stock by the Company are at a lower price per share than the then-current warrant exercise price. As of June 30, 2015, there were no outstanding liability-classified warrants. Number of Weighted-average Weighted-average Aggregate Outstanding at December 31, 2014 19,897,928 $ 1.61 Granted 225,000 $ 0.65 Exercised (337,169) $ 0.85 Forfeited (1,236,035) $ 3.16 Outstanding at June 30, 2015 18,549,724 $ 1.51 1.8 $ 57 Exercisable at June 30, 2015 18,549,724 $ 1.51 1.8 $ 57 During the six months ended June 30, 2015, 337,169 287,000 Number of Weighted- Expiration Issued to consultants 1,057,667 $ 1.91 December 2015 through May 2020 Issued pursuant to 2011 financings 1,936,785 $ 3.24 January 2016 through April 2016 Issued pursuant to 2012 financings 296,366 $ 3.00 December 2017 Issued pursuant to 2013 financings 4,376,228 $ 1.97 December 2017 through August 2018 Issued pursuant to 2014 financings 10,882,678 $ 0.83 December 2015 through June 2019 18,549,724 During the six months ended June 30, 2015, we issued warrants to consultants to purchase 225,000 0.65 expire on the five year anniversary of the date of issuance 0.30 During the six months ended June 30, 2014, in connection with a registered offering, we issued an aggregate of 10,736,722 10,409,905 326,817 0.85 1.15 483,125 1.15 3,826,792 warrants and 4,163,961 of the Series 0.70 December 31, 2016 During the six months ended June 30, 2014, we issued warrants to consultants to purchase 96,000 3.00 expire on the five year anniversary of the date of issuance 0.41 Total stock-based compensation expense of approximately $ 67,000 40,000 Six months ended June 30, 2015 2014 Volatility 58.5 % 51.0 % Expected term (years) 4.2 2.0 Risk-free interest rate 1.2 % 0.5 % Dividend yield 0 % 0 %

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]	NOTE 11 – SUBSEQUENT EVENTS In July 2015, we completed a private placement of our securities in which we sold 3,591,278 0.70 (i) one share of common stock, (ii) one Series D common stock purchase warrant, and (iii) one Series E common stock purchase warrant 2.2 214,000 39,000 35,000 8 287,303 The Series D warrants have an exercise price of $ 0.80 the common shares and expire on the five year anniversary of the date of issuance 0.70 the common shares and expire on the eighteenth month anniversary of the date of issuance

SUMMARY OF CRITICAL ACCOUNTIN18

SUMMARY OF CRITICAL ACCOUNTING POLICIES AND USE OF ESTIMATES (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Use of Estimates, Policy [Policy Text Block]	Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying disclosures. Actual results may differ from those estimates.
Research and Development Expense, Policy [Policy Text Block]	Research and development costs are charged to expense as incurred. Our research and development expenses consist primarily of expenditures for manufacturing, clinical trials, employee compensation and consulting costs and expenses. We incurred research and development expenses of approximately $ 0.6 0.9 We incurred research and development expenses of approximately $ 1.4 2.0
Earnings Per Share, Policy [Policy Text Block]	Loss per Share Basic loss per share is calculated by dividing net loss and net loss attributable to common shareholders by the weighted average number of common shares outstanding for the period. Basic and diluted loss per share are the same, in that any potential common stock equivalents would have the effect of being anti-dilutive in the computation of net loss per share. Six months ended June 30, 2015 2014 Shares underlying options outstanding 8,926,695 8,462,895 Shares underlying warrants outstanding 18,549,724 20,510,987 Shares underlying convertible notes outstanding 274,713 265,894 27,751,132 29,239,776
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments Our short-term financial instruments, including cash, accounts payable and other liabilities, consist primarily of instruments with maturities of three months or less when acquired. We believe that the fair values of our current assets and current liabilities approximate their reported carrying amounts.
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements Valuation Hierarchy - GAAP establishes a valuation hierarchy for disclosure of the inputs to valuation used to measure fair value. This hierarchy prioritizes the inputs into three broad levels as follows: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3: Unobservable inputs based on our own assumptions used to measure assets and liabilities at fair value. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. As of June 30, 2015, the Company has no such assets or liabilities outstanding.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-Based Compensation We measure the cost of employee services received in exchange for equity awards based on the grant-date fair value of the awards. All awards under our stock-based compensation programs are accounted for at fair value and that cost is recognized over the period during which an employee is required to provide service in exchange for the award (the vesting period). Compensation expense for options granted to non-employees is determined in accordance with the fair value of the consideration received or the fair value of the equity instruments issued, whichever is a more reliable measurement. Compensation expense for awards granted to non-employees is re-measured on each accounting period. Determining the appropriate fair value of stock-based compensation requires the input of subjective assumptions, including the expected life of the stock-based compensation and the volatility of our stock price. We use the Black-Scholes option-pricing model to value our stock option awards which incorporates our stock price, volatility, U.S. risk-free interest rate, dividend rate, and estimated life.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In August 2014, the FASB issued Accounting Standards Update “ASU” 2014-15 on “Presentation of Financial Statements Going Concern (Subtopic 205-40) – Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern”. This update provides guidance about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosures. The amendments require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. The amendments contained in this update are effective for public and nonpublic entities for annual periods ending after December 15, 2016. We are currently assessing the impact of the adoption of ASU 2014-15, and we have not yet determined the effect of the standard on our ongoing financial reporting. In January 2015, the FASB issued ASU No. 2015-01, Income Statement - Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items, simplifying the income statement presentation. The guidance does not change the requirement to disclose items that are unusual in nature and occur infrequently. ASU No. 2015-01 is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period, although early adoption is permitted. Exclusive of a material transaction that would qualify for extraordinary item presentation in future periods, we do not expect the adoption of this standard to materially impact our financial statements. In April 2015, the Financial Accounting Standard Board issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This guidance is effective for annual and interim reporting periods of public entities beginning after December 15, 2015, and early adoption is permitted. We do not expect the adoption of this standard to materially impact our consolidated financial statements. There are various other recently issued updates, most of which represented technical corrections to the accounting literature or application to specific industries, and are not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

SUMMARY OF CRITICAL ACCOUNTIN19

SUMMARY OF CRITICAL ACCOUNTING POLICIES AND USE OF ESTIMATES (Tables)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Schedule of Weighted Average Number of Shares [Table Text Block]	The following potentially dilutive securities have been excluded from the computations of weighted average shares outstanding as of June 30, 2015 and 2014, as they would be anti-dilutive: Six months ended June 30, 2015 2014 Shares underlying options outstanding 8,926,695 8,462,895 Shares underlying warrants outstanding 18,549,724 20,510,987 Shares underlying convertible notes outstanding 274,713 265,894 27,751,132 29,239,776

SUPPLEMENTAL CASH FLOW INFORM20

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2015
Supplemental Cash Flow Information [Abstract]
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	The following table contains additional information for the periods reported (in thousands): Six months ended June 30, 2015 2014 Non-cash financial activities: Common stock options issued as payment of accrued compensation $ — $ 962 Common stock issued for consulting fees 27 —

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	6 Months Ended
	Jun. 30, 2015
Accrued Liabilities, Current [Abstract]
Schedule of Accrued Liabilities [Table Text Block]	Accrued expenses consist of the following (in thousands): June 30, 2015 December 31, 2014 Accrued compensation and benefits $ 1,621 $ 1,108 Accrued research and development 156 163 Accrued other 204 167 Total accrued expenses $ 1,981 $ 1,438

STOCK OPTIONS (Tables)

STOCK OPTIONS (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Total stock-based compensation expense recognized for stock options issued using the straight-line method in Six months ended June 30, 2015 2014 Research and development $ 22 $ 16 General and administrative 50 171 $ 72 $ 187
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	The following table summarizes stock option activity under the Plans: Number of Weighted- Weighted-average Aggregate Outstanding at December 31, 2014 8,685,095 $ 1.65 Granted 318,600 $ 0.80 Exercised — — Forfeited (77,000) $ 2.30 Outstanding at June 30, 2015 8,926,695 $ 1.61 3.6 $ 168 Exercisable at June 30, 2015 8,683,595 $ 1.63 3.6 $ 152
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	The following table summarizes weighted-average assumptions using the Black-Scholes option-pricing model used on the date of the grants issued during the six months ended June 30, 2015 and 2014: Six months ended June 30, 2015 2014 Volatility 57.7 % 55.8 % Expected term (years) 3.5 3.4 Risk-free interest rate 1.0 % 0.5 % Dividend yield 0 % 0 %

WARRANTS (Tables)

WARRANTS (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Share-based Compensation, Activity [Table Text Block]	Transactions involving our equity-classified warrants are summarized as follows: Number of Weighted-average Weighted-average Aggregate Outstanding at December 31, 2014 19,897,928 $ 1.61 Granted 225,000 $ 0.65 Exercised (337,169) $ 0.85 Forfeited (1,236,035) $ 3.16 Outstanding at June 30, 2015 18,549,724 $ 1.51 1.8 $ 57 Exercisable at June 30, 2015 18,549,724 $ 1.51 1.8 $ 57
Schedule of Outstanding Warrants to Purchase Common Stock [Table Text Block]	The following table summarizes outstanding common stock purchase warrants as of June 30, 2015: Number of Weighted- Expiration Issued to consultants 1,057,667 $ 1.91 December 2015 through May 2020 Issued pursuant to 2011 financings 1,936,785 $ 3.24 January 2016 through April 2016 Issued pursuant to 2012 financings 296,366 $ 3.00 December 2017 Issued pursuant to 2013 financings 4,376,228 $ 1.97 December 2017 through August 2018 Issued pursuant to 2014 financings 10,882,678 $ 0.83 December 2015 through June 2019 18,549,724
Schedule Of Share Based Payment Award Warrants Valuation Assumptions [Table Text Block]	The following table summarizes weighted-average assumptions using the Black-Scholes option-pricing model used on the date of the grants issued during the six months ended June 30, 2015 and 2014: Six months ended June 30, 2015 2014 Volatility 58.5 % 51.0 % Expected term (years) 4.2 2.0 Risk-free interest rate 1.2 % 0.5 % Dividend yield 0 % 0 %

MANAGEMENT'S PLANS TO CONTINU24

MANAGEMENT'S PLANS TO CONTINUE AS A GOING CONCERN (Details Textual) - USD ($) $ in Thousands	1 Months Ended
	Jul. 31, 2015	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Management Plan [Line Items]
Deficit accumulated during the development stage		$ (42,754)	$ (39,379)
Cash and Cash Equivalents, at Carrying Value		$ 121	$ 2,316	$ 4,791	$ 3,587
Percentage of Cash and Cash Equivalents in Total Assets		39.00%
Subsequent Event [Member]
Management Plan [Line Items]
Proceeds from Issuance of Common Stock and Warrants	$ 2,200

SUMMARY OF CRITICAL ACCOUNTIN25

SUMMARY OF CRITICAL ACCOUNTING POLICIES AND USE OF ESTIMATES (Details) - shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares underlying, outstanding	27,751,132	29,239,776
Convertible Notes Payable [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares underlying, outstanding	274,713	265,894
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares underlying, outstanding	18,549,724	20,510,987
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares underlying, outstanding	8,926,695	8,462,895

SUMMARY OF CRITICAL ACCOUNTIN26

SUMMARY OF CRITICAL ACCOUNTING POLICIES AND USE OF ESTIMATES (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Jun. 30, 2015	Jun. 30, 2014
Summary Of Critical Accounting Policies [Line Items]
Research and Development Expense, Total	$ 610	$ 924	$ 1,425	$ 2,028

SUPPLEMENTAL CASH FLOW INFORM27

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Non-cash financial activities:
Common stock options issued as payment of accrued compensation	$ 0	$ 962
Common stock issued for consulting fees	$ 27	$ 0

ACCRUED EXPENSES (Details)

ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Accrued Expenses [Line Items]
Accrued compensation and benefits	$ 1,621	$ 1,108
Accrued research and development	156	163
Accrued other	204	167
Total accrued expenses	$ 1,981	$ 1,438

CONVERTIBLE NOTES PAYABLE (Deta

CONVERTIBLE NOTES PAYABLE (Details Textual) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 100,000
Debt Instrument, Interest Rate, Effective Percentage	4.20%
Debt Instrument, Maturity Date	Dec. 6, 2011
Debt Instrument, Increase, Accrued Interest	$ 32,000	$ 30,000
Debt Instrument, Convertible, Conversion Price	$ 0.50
Chief Executive Officer [Member]
Debt Instrument [Line Items]
Convertible Notes Payable, Total	$ 200,000

CAPITAL STOCK AND STOCKHOLDER30

CAPITAL STOCK AND STOCKHOLDER'S EQUITY (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Class of Stock [Line Items]
Stock Issued During Period, Value, Issued for Services	$ 27,000
Number of Warrants Exercised	337,169
Proceeds from Warrant Exercises	$ 287,000	$ 0
Common Stock [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, Issued for Services	30,000
Stock Issued During Period, Value, Issued for Services	$ 0
Number of Warrants Exercised	337,169
Proceeds from Warrant Exercises	$ 287,000

STOCK OPTIONS (Details)

STOCK OPTIONS (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost	$ 72	$ 187
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost	22	16
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost	$ 50	$ 171

STOCK OPTIONS (Details 1)

STOCK OPTIONS (Details 1) - Jun. 30, 2015 - USD ($) $ / shares in Units, $ in Thousands	Total
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, Outstanding at beginning of period (in shares)	8,685,095
Number of shares, Granted (in shares)	318,600
Number of shares, Exercised (in shares)	0
Number of shares, Forfeited (in shares)	(77,000)
Number of shares, Outstanding at end of period (in shares)	8,926,695
Number of shares, Exercisable at December 31, 2014 (in shares)	8,683,595
Weighted-average exercise price, Outstanding at beginning of period (in dollars per share)	$ 1.65
Weighted-average exercise price, Granted (in dollars per share)	0.8
Weighted-average exercise price, Exercised (in dollars per share)	0
Weighted-average exercise price, Forfeited (in dollars per share)	2.3
Weighted-average exercise price, Outstanding at end of period (in dollars per share)	1.61
Weighted-average exercise price, Exercisable at December 31, 2014 (in dollars per share)	$ 1.63
Weighted-average remaining contractual term, Outstanding at December 31, 2014	3 years 7 months 6 days
Weighted-average remaining contractual term, Exercisable at December 31, 2014	3 years 7 months 6 days
Aggregate intrinsic value, Outstanding at December 31, 2014 (in dollars)	$ 168
Aggregate intrinsic value, Exercisable at December 31, 2014 (in dollars)	$ 152

STOCK OPTIONS (Details 2)

STOCK OPTIONS (Details 2) - Employee Stock Option [Member]	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	57.70%	55.80%
Expected term (years)	3 years 6 months	3 years 4 months 24 days
Risk-free interest rate	1.00%	0.50%
Dividend yield	0.00%	0.00%

STOCK OPTIONS (Details Textual)

STOCK OPTIONS (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Stock Options	$ 84,000
Share Based Compensation Arrangement Options Issued To Non Employee Directors	106,000	106,000
Share Based Compensation Arrangement Options Issued To Consultants	212,600	357,370
Share Based Compensation Arrangement Options Issued To Employee Directors		1,948,902
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year
Plan 2009 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	6,000,000
Plan 2007 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period	12,000,000

WARRANTS (Details)

WARRANTS (Details) - Jun. 30, 2015 - Warrant [Member] - USD ($) $ / shares in Units, $ in Thousands	Total
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, Outstanding at beginning of period (in shares)	19,897,928
Number of shares, Granted (in shares)	225,000
Number of shares, Exercised (in shares)	(337,169)
Number of shares, Forfeited (in shares)	(1,236,035)
Number of shares, Outstanding at ending of period (in shares)	18,549,724
Number of shares, Exercisable at December 31, 2014 (in shares)	18,549,724
Weighted-average exercise price, Outstanding at beginning of period (in dollars per share)	$ 1.61
Weighted-average exercise price, Granted (in dollars per share)	0.65
Weighted-average exercise price, Exercised (in dollars per share)	0.85
Weighted-average exercise price, Forfeited (in dollars per share)	3.16
Weighted-average exercise price, Outstanding at end of period (in dollars per share)	1.51
Weighted-average exercise price, Exercisable at December 31, 2014 (in dollars per share)	$ 1.51
Weighted-average remaining contractual term, Outstanding	1 year 9 months 18 days
Weighted-average remaining contractual term, Exercisable at December 31, 2014	1 year 9 months 18 days
Aggregate intrinsic value, Outstanding (in dollars)	$ 57
Aggregate intrinsic value, Exercisable at December 31, 2014 (in dollars)	$ 57

WARRANTS (Details 1)

WARRANTS (Details 1) - $ / shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Equity-classified warrants [Abstract]
Number of shares (in shares)	18,549,724
Equity Classified Warrants [Member]
Equity-classified warrants [Abstract]
Weighted Average Exercise price (in dollars per share)		$ 1.15
Equity Classified Warrants [Member] | Consultant [Member]
Equity-classified warrants [Abstract]
Number of shares (in shares)	1,057,667
Weighted Average Exercise price (in dollars per share)	$ 1.91
Investment Warrants Expiration Date Range Start	Dec. 31, 2015
Investment Warrants Expiration Date Range End	May 31, 2020
Equity Classified Warrants [Member] | Financing 2011 [Member]
Equity-classified warrants [Abstract]
Number of shares (in shares)	1,936,785
Weighted Average Exercise price (in dollars per share)	$ 3.24
Investment Warrants Expiration Date Range Start	Jan. 1, 2016
Investment Warrants Expiration Date Range End	Apr. 30, 2016
Equity Classified Warrants [Member] | Financing 2012 [Member]
Equity-classified warrants [Abstract]
Number of shares (in shares)	296,366
Weighted Average Exercise price (in dollars per share)	$ 3
Investment Warrants Expiration Date	Dec. 31, 2017
Equity Classified Warrants [Member] | Financing 2013 [Member]
Equity-classified warrants [Abstract]
Number of shares (in shares)	4,376,228
Weighted Average Exercise price (in dollars per share)	$ 1.97
Investment Warrants Expiration Date Range Start	Dec. 31, 2017
Investment Warrants Expiration Date Range End	Aug. 31, 2018
Equity Classified Warrants [Member] | Financing 2014 [Member]
Equity-classified warrants [Abstract]
Number of shares (in shares)	10,882,678
Weighted Average Exercise price (in dollars per share)	$ 0.83
Investment Warrants Expiration Date Range Start	Dec. 31, 2015
Investment Warrants Expiration Date Range End	Jun. 30, 2019

WARRANTS (Details 2)

WARRANTS (Details 2) - Warrant [Member]	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Volatility	58.50%	51.00%
Expected term (years)	4 years 2 months 12 days	2 years
Risk-free interest rate	1.20%	0.50%
Dividend yield	0.00%	0.00%

WARRANTS (Details Textual)

WARRANTS (Details Textual) - USD ($)	1 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Warrants And Derivative Warrant Liability [Line Items]
Warrants Exercised		337,169
Proceeds from Warrant Exercises		$ 287,000	$ 0
Share Based Compensation Expense Recognized For Warrants Issued To Consultants		$ 67,000	$ 40,000
Series B and C Warrants [Member]
Warrants And Derivative Warrant Liability [Line Items]
WarrantsExpirationDate		Dec. 31, 2016
Private Offering [Member]
Warrants And Derivative Warrant Liability [Line Items]
Stock Issued During Period, Shares, New Issues		483,125
Consultants [Member]
Warrants And Derivative Warrant Liability [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period		225,000	96,000
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 3	$ 0.65	$ 3
Warrants Weighted Average Fair Value		0.30	0.41
Warrant Expiration Period, Description		expire on the five year anniversary of the date of issuance	expire on the five year anniversary of the date of issuance
Placement Agent [Member]
Warrants And Derivative Warrant Liability [Line Items]
Stock Issued During Period, Shares, New Issues	326,817
Investor [Member]
Warrants And Derivative Warrant Liability [Line Items]
Stock Issued During Period, Shares, New Issues	10,409,905
Equity Classified Warrants [Member]
Warrants And Derivative Warrant Liability [Line Items]
Shares Issued During Period Upon Exercise of Warrants	10,736,722
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 1.15		$ 1.15
Equity Classified Warrants [Member] | Maximum [Member]
Warrants And Derivative Warrant Liability [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	1.15		1.15
Equity Classified Warrants [Member] | Minimum [Member]
Warrants And Derivative Warrant Liability [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	0.85		0.85
Series B Warrants [Member]
Warrants And Derivative Warrant Liability [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.70		$ 0.70
Warrants Amended During The Period			3,826,792
Series C Warrants [Member]
Warrants And Derivative Warrant Liability [Line Items]
Warrants Amended During The Period			4,163,961

SUBSEQUENT EVENTS (Details Text

SUBSEQUENT EVENTS (Details Textual) - Related Party [Domain] - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Subsequent Event [Line Items]
Proceeds from Warrant Exercises	$ 287,000	$ 0
Subsequent Event [Member]
Subsequent Event [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.70
Proceeds from Warrant Exercises	$ 2,200,000
Offering Expenses	39,000
Reimbursement of Placement Agent Fees	$ 35,000
Percentage Of Shares Sold During The Period For Investors	8.00%
Fees and Commissions	$ 214,000
Warrant Expiration Period, Description	the common shares and expire on the eighteenth month anniversary of the date of issuance
Shares Issued, Price Per Share	$ 0.70
Subsequent Event [Member] | Private Placement [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues	3,591,278
Description of Securities Purchase	(i) one share of common stock, (ii) one Series D common stock purchase warrant, and (iii) one Series E common stock purchase warrant
Subsequent Event [Member] | Series D [Member]
Subsequent Event [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.80
Warrants Issued	287,303
Warrant Expiration Period, Description	the common shares and expire on the five year anniversary of the date of issuance