Research and development (includes $1,119 and $135,603 of stock-based compensation expense for the three months ended March 31, 2004 and 2003,
respectively)
6,633,777
5,849,932
Selling, general and administrative (includes $687 and $149,493 of stock-based compensation expense for the three months ended March 31, 2004
and 2003, respectively)
1,886,187
2,234,114
Total operating expenses
8,519,964
8,084,046
Loss from operations
(3,631,906
)
(4,016,863
)
Other income (expense):
Interest income
60,239
108,665
Interest expense
(122,671
)
(233,266
)
Other income (expense), net
(62,432
)
(124,601
)
Loss from continuing operations
(3,694,338
)
(4,141,464
)
Discontinued operations:
Gain (loss) from discontinued operations
22,725
24,669
Net loss
$
(3,671,613
)
$
(4,116,795
)
Net loss per common share-basic and diluted:
Loss per share from continuing operations
$
(0.11
)
$
(0.13
)
Loss per share from discontinued operations
—
—
Net loss per common share
$
(0.11
)
$
(0.13
)
Weighted average common shares outstanding – basic and diluted
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