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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2011	Nov. 02, 2011
Entity Registrant Name	MANHATTAN PHARMACEUTICALS INC
Entity Central Index Key	0001001316
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	mhan
Entity Common Stock, Shares Outstanding		7,398,316
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2011
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2011

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2011	Dec. 31, 2010
Assets
Cash and cash equivalents	$ 212,280	$ 478,668
Grant receivable	0	244,479
Debt issue costs	0	4,408
Other current assets	100,759	141,622
Total current assets	313,039	869,177
In-process research and development	17,742,110	17,742,110
Property and equipment, net	1,580	2,984
Other assets	7,750	21,370
Total assets	18,064,479	18,635,641
Liabilities and Stockholders' Deficiency
Notes payable, current portion, net of discount	761,314	2,054,246
Accounts payable and accrued expenses	167,719	223,516
Interest payable, current portion, net of beneficial conversion	47,223	480,890
Derivative liability	538,830	534,846
Total current liabilities	1,515,086	3,293,498
Notes payable, noncurrent portion, net of discount	16,388,797	16,130,571
Interest payable, noncurrent portion	455,214	626,697
Exchange obligation	0	3,949,176
Total liabilities	18,359,097	23,999,942
Commitments and contingencies
Stockholders' deficiency:
Preferred stock, $.001 par value. Authorized 1,500,000 shares; no shares issued and outstanding at September 30, 2011 and December 31, 2010	0	0
Common stock, value issued	7,398	2,419
Additional paid-in capital	60,693,779	55,927,180
Deficit accumulated during the development stage	(61,011,685)	(61,309,790)
Total stockholders' deficiency	(294,618)	(5,364,301)
Total liabilities and stockholders' deficiency	18,064,479	18,635,641
Contingently Issuable Share [Member]
Stockholders' deficiency:
Common stock, value issued	$ 15,890	$ 15,890

Condensed Consolidated Balance Sheets[ Parenthetical] - $ / shares	Sep. 30, 2011	Dec. 31, 2010
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,500,000	1,500,000
Preferredstock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	7,398,316	2,419,305
Common stock, shares outstanding	7,398,316	2,419,305

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended		122 Months Ended
	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011
Revenue	$ 0	$ 0	$ 0	$ 0	$ 0
Costs and expenses:
Research and development	95,897	236,734	541,292	305,500	29,369,296
General and administrative	165,946	278,897	609,542	1,264,666	20,323,939
In-process research and development charge	0	0	0	0	11,887,807
Impairment of intangible assets	0	0	0	0	1,248,230
Loss on disposition of intangible assets	0	0	0	0	1,213,878
Total operating expenses	261,843	515,631	1,150,834	1,570,166	64,043,150
Operating loss	(261,843)	(515,631)	(1,150,834)	(1,570,166)	(64,043,150)
Other (income) expense:
Equity in losses of Hedrin JV	0	0	0	0	(750,000)
Change in fair value of derivative liability	(2,100,898)	(830,165)	39,587	2,696,900	(2,455,261)
Interest and other income	(196)	(76,275)	(4,518,150)	(228,305)	(7,610,133)
Interest expense	1,165,078	349,562	1,882,886	937,555	3,795,334
Loss on early extinguishment of debt	1,225,912	0	(1,225,912)	(159,070)	(1,384,982)
Realized gain on sale of marketable equity securities	0	0	0	0	(76,032)
Total other (income) expense	289,896	(556,878)	(1,448,939)	(1,828,580)	(4,211,110)
Net income (loss)	(551,739)	41,247	298,105	258,414	(59,832,040)
Preferred stock dividends (including imputed amounts)	0	0		0	(1,179,645)
Net income (loss) applicable to common shares	$ (551,739)	$ 41,247	$ 298,105	$ 258,414	$ (61,011,685)
Net income (loss) per common share:
Basic and diluted (in dollars per share)	$ (0.16)	$ 0.02	$ 0.10	$ 0.12
Weighted average shares of common stock outstanding:
Basic and diluted (in shares)	3,431,031	2,419,305	2,861,792	2,176,257

Condensed Consolidated Statements of Stockholders' Equity (Deficiency) - USD ($)	Common Stock [Member]	Additional Paid In Capital [Member]	Deficit Accumulated During Development Stage [Member]	Other [Member]	Total
Balance at Dec. 31, 2000	$ 0	$ 0	$ 0	$ 0	$ 0
Balance (in shares) at Dec. 31, 2000	0
Common stock issued during the period, net of expenses	$ 203	3,797	0	(4,000)	0
Common stock issued during the period, net of expenses (in shares)	203,355
Net loss	$ 0	0	(56,796)	0	(56,796)
Balance (in shares) at Dec. 31, 2001	203,355
Balance at Dec. 31, 2001	$ 203	3,797	(56,796)	(4,000)	(56,796)
Proceeds from subscription receivable	0	0	0	4,000	4,000
Stock issued at $0.02 per share for license rights	$ 51	949	0	0	1,000
Stock issued at $0.02 per share for license rights (in shares)	50,839
Stock options issued for consulting services	$ 0	60,589	0	(60,589)	0
Amortization of unearned consulting services	0	0	0	22,721	22,721
Common stock issued during the period, net of expenses	$ 61	1,704,257	0	0	1,704,318
Common stock issued during the period, net of expenses (in shares)	60,866
Net loss	$ 0	0	(1,037,320)	0	(1,037,320)
Balance (in shares) at Dec. 31, 2002	315,060
Balance at Dec. 31, 2002	$ 315	1,769,592	(1,094,116)	(37,868)	637,923
Stock issued in connection with acquisition	$ 126	2,336,115	0	0	2,336,241
Stock issued in connection with acquisition (in shares)	125,752
Unrealized gain (loss) on short-term investments	$ 0	0	0	(7,760)	(7,760)
Payment for fractional shares for stock combination	0	(300)	0	0	(300)
Preferred stock dividends (including imputed amounts)	0	418,182	(418,182)	0	0
Amortization of unearned consulting services	0	0	0	37,868	37,868
Preferred stock issued during the period, net of expenses	0	9,045,176	0	1,000	9,046,176
Common stock issued during the period, net of expenses	$ 26	743,665	0	0	743,691
Common stock issued during the period, net of expenses (in shares)	26,436
Net loss	$ 0	0	(5,960,907)	0	(5,960,907)
Balance (in shares) at Dec. 31, 2003	467,248
Balance at Dec. 31, 2003	$ 467	14,312,430	(7,473,205)	(6,760)	6,832,932
Unrealized gain (loss) on short-term investments	0	0	0	20,997	20,997
Preferred stock dividend accrued	0	0	(585,799)	0	(585,799)
Preferred stock dividends paid by issuance of shares	0	281,073	0	25	281,098
Conversion of preferred stock to common stock	$ 31	140	0	(171)	0
Conversion of preferred stock to common stock (in shares)	31,005
Warrants issued for consulting services	$ 0	125,558	0	(120,968)	4,590
Amortization of unearned consulting services	0	0	0	100,800	100,800
Exercise of stock options	$ 1	30,099	0	0	30,100
Exercise of stock options (in shares)	552
Common stock issued during the period, net of expenses	$ 67	3,361,651	0	0	3,361,718
Common stock issued during the period, net of expenses (in shares)	67,379
Net loss	$ 0	0	(5,896,031)	0	(5,896,031)
Balance (in shares) at Dec. 31, 2004	566,184
Balance at Dec. 31, 2004	$ 566	18,110,951	(13,955,035)	(6,077)	4,150,405
Stock issued in connection with acquisition	$ 215	11,052,769	0	0	11,052,984
Stock issued in connection with acquisition (in shares)	214,621
Unrealized gain (loss) on short-term investments	$ 0	0	0	(12,250)	(12,250)
Exercise of warrants	$ 6	68,485	0	0	68,491
Exercise of warrants (in shares)	5,597
Preferred stock dividend accrued	$ 0	0	(175,663)	0	(175,663)
Preferred stock dividends paid by issuance of shares	0	477,736	0	42	477,778
Conversion of preferred stock to common stock	$ 163	733	0	(896)	0
Conversion of preferred stock to common stock (in shares)	162,937
Common stock issued in satisfaction of accounts payable	$ 13	749,987	0	0	750,000
Common stock issued in satisfaction of accounts payable (in shares)	13,513
Exercise of stock options	$ 1	32,399	0	0	32,400
Exercise of stock options (in shares)	648
Common stock issued during the period, net of expenses	$ 238	12,249,971	0	0	12,250,209
Common stock issued during the period, net of expenses (in shares)	238,354
Share-based compensation	$ 0	66,971	0	20,168	87,139
Net loss	$ 0	0	(19,140,997)	0	(19,140,997)
Balance (in shares) at Dec. 31, 2005	1,201,854
Balance at Dec. 31, 2005	$ 1,202	42,810,002	(33,271,695)	987	9,540,496
Unrealized gain (loss) on short-term investments	0	0	0	(987)	(987)
Costs associated with private placement	0	(15,257)	0	0	(15,257)
Cashless exercise of warrants	$ 0	0	0	0	0
Cashless exercise of warrants (in shares)	547
Share-based compensation	$ 0	1,675,499	0	0	1,675,499
Net loss	$ 0	0	(9,695,123)	0	(9,695,123)
Balance (in shares) at Dec. 31, 2006	1,202,401
Balance at Dec. 31, 2006	$ 1,202	44,470,244	(42,966,818)	0	1,504,628
Exercise of warrants	$ 0	7,233	0	0	7,233
Exercise of warrants (in shares)	206
Warrants issued for consulting services	$ 0	83,670	0	0	83,670
Common stock issued in satisfaction of accounts payable	$ 1	19,999	0	0	20,000
Common stock issued in satisfaction of accounts payable (in shares)	556
Common stock issued with in-licensing agreement at $45.00 per share	$ 2	112,498	0	0	112,500
Common stock issued with in-licensing agreement at $45.00 per share (in shares)	2,500
Common stock issued with in-licensing agreement at $40.00per share	$ 3	119,997	0	0	120,000
Common stock issued with in-licensing agreement at $40.00per share (in shares)	3,000
Cashless exercise of warrants	$ 0	(6)	0	0	(6)
Cashless exercise of warrants (in shares)	112
Common stock issued during the period, net of expenses	$ 204	7,851,981	0	0	7,852,185
Common stock issued during the period, net of expenses (in shares)	203,710
Share-based compensation	$ 0	1,440,956	0	0	1,440,956
Net loss	$ 0	0	(12,032,252)	0	(12,032,252)
Balance (in shares) at Dec. 31, 2007	1,412,485
Balance at Dec. 31, 2007	$ 1,412	54,106,572	(54,999,070)	0	(891,086)
Sale of warrant	0	150,000	0	0	150,000
Warrants issued with secured 12% notes	0	170,128	0	0	170,128
Share-based compensation	0	463,890	0	0	463,890
Net loss	$ 0	0	(4,268,858)	0	(4,268,858)
Balance (in shares) at Dec. 31, 2008	1,412,485
Balance at Dec. 31, 2008	$ 1,412	54,890,590	(59,267,928)	0	(4,375,926)
Cumulative effect of a change in accounting principle	0	(150,000)	127,778	0	(22,222)
Warrants issued with secured 12% notes	0	53,044	0	0	53,044
Share-based compensation	0	353,438	0	0	353,438
Net loss	$ 0	0	(2,793,285)	0	(2,793,285)
Balance (in shares) at Dec. 31, 2009	1,412,485
Balance at Dec. 31, 2009	$ 1,412	55,147,072	(61,933,435)	0	(6,784,951)
Balance at January 1, 2009, as adjusted	$ 1,412	54,740,590	(59,140,150)	0	(4,398,148)
Balance at January 1, 2009, as adjusted (in shares)	1,412,485
Common stock issued during the period, net of expenses	$ 866	2,584,621	0	0	2,585,487
Common stock issued during the period, net of expenses (in shares)	865,572
Shares issued and issuable in Merger	$ 141	1,475,906	0	15,890	1,491,937
Shares issued and issuable in Merger (in shares)	141,248
Derivative liability associated with issuance of common stock at $0.07	$ 0	(3,497,898)	0	0	(3,497,898)
Share-based compensation	0	217,479	0	0	217,479
Net loss	$ 0	0	623,645	0	623,645
Balance (in shares) at Dec. 31, 2010	2,419,305
Balance at Dec. 31, 2010	$ 2,419	55,927,180	(61,309,790)	15,890	(5,364,301)
Shares issued and issuable in Merger	$ 177	220,524	0	0	220,701
Shares issued and issuable in Merger (in shares)	176,561
Derivative liability associated with issuance of common stock at $0.07	$ 0	(115,000)	0	0	(115,000)
Share-based compensation	0	19,210	0	0	19,210
Beneficial conversion feature of Secured 12% Notes Payable and interest	$ 0	2,245,596	0	0	2,245,596
Roundup adjustment for 1 for 50 reverse stock split (in shares)	251
Conversion of Secured 12% Notes Payable and interest into common stock	$ 4,802	2,396,269			2,401,071
Conversion of Secured 12% Notes Payable and interest into common stock (in shares)	4,802,199
Net loss	$ 0	0	298,105	0	298,105
Balance (in shares) at Sep. 30, 2011	7,398,316
Balance at Sep. 30, 2011	$ 7,398	$ 60,693,779	$ (61,011,685)	$ 15,890	$ (294,618)

Condensed Consolidated Statements of Stockholders' Equity (Deficiency) [Parenthetical] - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2008	Dec. 31, 2007	Dec. 31, 2005	Dec. 31, 2004	Dec. 31, 2003	Dec. 31, 2002	Dec. 31, 2001
Par value of Common stock issued		$ 3.50								$ 0.02
Par value of stock issued for license rights									$ 0.02
Par value of Common stock issued							$ 55	$ 31.50	$ 31.50
Par value of Preferred stock issued								$ 10
Par value of preferred stock converted to common stock						$ 55.50	$ 55
Par value of Common stock issued, Issue1					$ 42	55.50
Par value of Common stock issued, Issue2					45	57.50
Par value of Common stock issued to vendor in satisfaction of accounts payable						$ 55.50
Par value of Common stock issued in connection with in-licensing agreement, issue1					45
Par value of Common stock issued in connection with in-licensing agreement, issue2					40
Common stock issued directors in satisfaction of accounts payable, par value					$ 36
Rate of interest on notes issued			12.00%	12.00%
Rate Of Interest On Notes Payable and Interest	12.00%
Rate Of Interest On Notes Payable and Interest Into Common Stock	12.00%

Condensed Consoliated Statements of Cash Flows - USD ($)	9 Months Ended		122 Months Ended
	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011
Cash flows from operating activities:
Net income/(loss)	$ 298,105	$ 258,414	$ (59,832,040)
Adjustments to reconcile net income/(loss) to net cash used in operating activities:
Equity in losses of Hedrin JV	0	0	750,000
Non cash gain on Nordic settlement	(4,017,488)	0	(4,017,488)
Share-based compensation	19,210	211,771	4,419,000
Amortization of OID, issue costs and beneficial conversion feature	1,041,745	288,772	1,978,376
Change in fair value of derivative liability	(39,587)	(2,696,900)	2,455,261
Loss on early extinguishment of debt	1,225,912	159,070	1,384,982
Shares issued in connection with in-licensing agreement	0	0	232,500
Shares issued in connection with Ariston milestone	220,701	0	220,701
Warrants issued to consultant	0	0	(83,670)
Amortization of intangible assets	0	0	145,162
Gain on sale of marketable equity securities	0	0	(76,032)
Depreciation	1,404	2,644	232,267
Noncash portion of in-process research and development charge	0	0	11,721,623
Loss on impairment and disposition of intangible assets	0	0	2,462,108
Other	0	0	23,917
Changes in operating assets and liabilities, net of acquisitions:
Decrease in grant receivable	244,479	0	0
Decrease in prepaid expenses and other current assets	40,508	60,612	77,999
Decrease/(increase) in other assets	10,859	0	(25,511)
Decrease in accounts payable and accrued expenses	(55,797)	(332,972)	(178,104)
Increase in interest payable	843,561	620,219	1,722,574
Net cash used in operating activities	(166,388)	(1,428,370)	(41,805,865)
Cash flows from investing activities:
Purchase of property and equipment	0	(2,844)	(242,452)
Cash acquired in connection with acquisitions	0	519,365	493,334
Net cash provided from the purchase and sale of short-term investments	0	0	435,938
Proceeds from sale of license	0	0	200,001
Net cash provided by investing activities	0	516,521	886,821
Cash flows from financing activities:
Proceeds related to sale of common stock, net	0	2,163,486	28,059,748
Proceeds from sale of preferred stock, net	0	0	9,046,176
Proceeds from the Hedrin JV agreement	0	0	3,199,176
Proceeds from sale of notes payable	0	0	1,509,915
Sale of warrant	0	0	150,000
Net repayments of notes payable	(100,000)	(193,667)	(1,207,124)
Other, net	0	0	373,433
Net cash provided by/(used in) financing activities	(100,000)	1,969,819	41,131,324
Net increase (decrease) in cash and cash equivalents	(266,388)	1,057,970	212,280
Cash and cash equivalents at beginning of period	478,668	17,996	0
Cash and cash equivalents at end of period	$ 212,280	$ 1,075,966	$ 212,280

Condensed Consoliated Statements of Cash Flows [Supplemental] - USD ($)	9 Months Ended		122 Months Ended
	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011
Supplemental disclosure of cash flow information:
Interest paid	$ 882	$ 28,212	$ 68,387
Supplemental disclosure of noncash investing and financing activities:
Issuance of common stock for acquisitions	0	1,491,937	14,881,163
Conversion of debt to common stock and warrants	2,401,071	422,000	2,823,071
In-process research and development acquired	0	17,742,110	17,742,110
Investment in Hedrin JV	0	500,000	1,250,000
Beneficial conversion feature	2,245,596	0	2,245,596
Warrants issued with notes payable	0	0	250,562
Note issued to settle accrued expenses	0	0	211,900
Common stock issued in satisfaction of accounts payable	0	0	770,000
Imputed and accrued preferred stock dividend	0	0	1,179,644
Conversion of preferred stock to common stock	0	0	1,067
Preferred stock dividends paid by issuance of shares	0	0	759,134
Issuance of common stock in connection with in-licensing agreement	0	0	232,500
Marketable equity securities received in connection with sale of license	0	0	359,907
Warrants issued to consultant	0	0	83,670
Net liabilities assumed over assets acquired in business combination	0	0	(675,416)
Cashless exercise of warrants	$ 0	$ 0	$ 33

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

Sep. 30, 2011

Accounting Policies [Abstract]

Significant Accounting Policies [Text Block]

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements of Manhattan Pharmaceuticals, Inc. (“Manhattan”) and subsidiary (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and the rules and regulations of the Securities and Exchange Commission. Accordingly, the unaudited condensed consolidated financial statements do not include all information and footnotes required by accounting principles generally accepted in the United States of America for complete annual financial statements. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, consisting of only normal recurring adjustments, considered necessary for a fair presentation. Interim operating results are not necessarily indicative of results that may be expected for the year ending December 31, 2011 or for any other interim period. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited financial statements as of and for the year ended December 31, 2010, which are included in the Company’s Annual Report on Form 10-K for such year. The condensed balance sheet as of December 31, 2010 has been derived from the audited financial statements included in the Form 10-K for that year.

As of September 30, 2011, the Company has not generated any revenues from the development of its products and is therefore still considered to be a development stage company.

In March 2010, Manhattan entered into an Agreement and Plan of Merger (the "Merger Agreement") by and among the Company, Ariston Pharmaceuticals, Inc., a Delaware corporation ("Ariston") and Ariston Merger Corp., a Delaware corporation and wholly-owned subsidiary of the Company (the "Merger Sub"). Pursuant to the terms and conditions set forth in the Merger Agreement, the Merger Sub merged with and into Ariston (the "Merger"), with Ariston being the surviving corporation of the Merger. As a result of the Merger, Ariston became a wholly-owned subsidiary of Manhattan. The operating results of Ariston from March 8, 2010 to September 30, 2011 are included in the accompanying condensed consolidated statements of operations.

On June 20, 2011, the Company effected a 1 for 50 reverse stock split (the “Reverse Split”). All references to common shares and per share data for prior periods have been retroactively adjusted to reflect the Reverse Split as if it had occurred at the beginning of the earliest period presented.

On September 15, 2011, $1,725,000 principal amount of 12% secured notes (See note 9) and interest thereon, amounting to $676,072, converted into the right to receive 4,802,199 shares of the Company’s common stock. These 4,802,199 issuable shares of the Company’s common stock are reflected in these unaudited condensed consolidated financial statements as if the shares were issued on September 15, 2011.On September 15, 2011, the effective date of the conversion, the Company obtained from the holders of at least 2/3 of the original principal amount of the 12% secured notes their signed election to convert their 12% secured notes and interest into shares of the Company's common stock. The shares will be issued in the 4th quarter of 2011.

Segment Reporting

The Company has determined that it operates in only one segment currently, which is biopharmaceutical research and development.

Financial Instruments

At December 31, 2010, the fair values of cash and cash equivalents, grant receivable, accounts payable, the convertible 5% notes payable, the ICON convertible note payable, the non-interest bearing note payable and the secured 12% notes payable approximate their carrying values. At September 30, 2011, the fair values of cash and cash equivalents, accounts payable, the convertible 5% notes payable, the ICON convertible note payable and the non-interest bearing note payable approximate their carrying values.

Investment in Joint Venture

The Company accounted for its investment in a joint venture using the equity method of accounting up through January 4, 2011, the date of the settlement agreement discussed in Note 6, and the cost method subsequent to January 4, 2011. Under the equity method, the Company records its pro-rata share of joint venture income or losses and adjusts the basis of its investment accordingly.

Fair Value Measurements

The Company uses a standard framework in how to value the fair value of assets and liabilities. This framework is intended to increase consistency in how fair value determinations are made under various existing accounting standards that permit, or in some cases require, estimates of fair market value. This standard also expands financial statement disclosure requirements about a company’s use of fair value measurements, including the effect of such measures on earnings.

This standard defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This standard also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. That hierarchy is as follows:

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 2 – Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 – Observable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The Company utilizes the market approach to measure fair value of its financial assets and liabilities. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The Company’s financial assets (cash equivalents) as of September 30, 2011 and December 31, 2010 were held in money market funds which is a Level 1 measurable input.

The Company utilizes the Black-Scholes Option Pricing model to estimate the fair value of its derivative liabilities associated with warrant obligations and a convertible note obligation (see Note 10). The Company considers them to be Level 3 instruments. The following table shows the weighted average assumptions the Company used to develop the fair value estimates for the determination of the derivative liabilities at September 30, 2011 and 2010:

	September 30,
	2011			2010
Fair value	$	0.052 - $0.084		$	0.695 - $0.835
Expected volatility		89	%		88	%
Dividend yield		-			-
Expected term (in years)		2.14 - 3.52			2.51 - 4.52
Risk-free interest rate		0.69	%		0.96	%

The following table summarizes the changes in Level 3 instruments for the nine month periods ended September 30, 2011 and 2010:

	September 30,
	2011			2010
Fair value at January 1	$	534,846		$	784,777
Purchases, sales, issuances and settlements		43,571			3,272,121
Net unrealized (gain)/loss		(39,587	)		(2,696,900	)
Fair value at September 30	$	538,830		$	1,359,998

New Accounting Pronouncements

In April 2010, the FASB issued a new pronouncement “Revenue Recognition – Milestone Method”. This pronouncement provides guidance on the criteria that should be met for determining whether the milestone method of revenue recognition is appropriate. A vendor can recognize consideration that is contingent upon achievement of a milestone in its entirety as revenue in the period in which the milestone is achieved only if the milestone meets all criteria to be considered substantive. The following criteria must be met for a milestone to be considered substantive. The consideration earned by achieving the milestone should: 1. Be commensurate with either the level of effort required to achieve the milestone or the enhancement of the value of the item delivered as a result of a specific outcome resulting from the vendor’s performance to achieve the milestone; 2. Related solely to past performance; and 3. Be reasonably relative to all deliverables and payment terms in the arrangement. No bifurcation of an individual milestone is allowed and there can be more than one milestone in an arrangement. Accordingly, an arrangement may contain both substantive and non-substantive milestones. This pronouncement became effective on a prospective basis for milestones achieved in fiscal years beginning on or after June 15, 2010. The adoption of this guidance does not have a material impact on our financial statements.

LIQUIDITY

9 Months Ended

Sep. 30, 2011

Organization, Consolidation and Presentation Of Financial Statements [Abstract]

Liquidity Disclosure [Text Block]

LIQUIDITY

The Company had net income of $298,105 and negative cash flows from operating activities of $166,388 for the nine month period ended September 30, 2011. Net income for the nine month period ended September 30, 2011 includes a $4,517,488 gain on settlement with Nordic Biotech Ventures II K/S of which $4,017,488 was non cash and a loss on the early extinguishment of debt of $1,225,912 as a result of the conversion of 12% secured notes and interest thereon (see Note 9). The net loss applicable to common shares from date of inception, August 6, 2001, to September 30, 2011 amounts to $61,011,685.

During the nine months ended September 30, 2011 the Company received approximately $0.5 million from the Nordic Settlement (see Note 6) and $244,479 from a grant receivable, and repaid $100,000 of principal on the ICON note payable (see Note 9).

During the nine months ended September 30, 2010 the Company received approximately $2.2 million from an equity financing transaction (see Note 7) and approximately $40,000 from Ariston Pharmaceuticals, Inc. in exchange for a note. In addition, approximately $422,000 of notes payable and interest payable thereon was converted in this equity transaction. The Company repaid the $40,000 received from Ariston in the first quarter of 2010 and the $27,000 received from Ariston in the fourth quarter of 2009 together with interest thereon prior to the Merger.

Management believes that the Company will continue to incur net losses through at least September 30, 2012 and for the foreseeable future. Based on the resources of the Company available at September 30, 2011, management believes that the Company has sufficient capital to fund its operations through the end of 2011. Management believes that the Company will need additional equity or debt financing or generate revenues through licensing of its products or entering into strategic alliances to be able to sustain its operations into 2012. Furthermore, the Company will need additional financing thereafter to complete development and commercialization of its products. There can be no assurances that we can successfully complete development and commercialization of our products. In addition, $250,000 of debt matures in October 2011, the Company is currently negotiating an extension of the maturity of this debt, and $1,725,000 principal amount of debt plus interest thereon that was to mature in December 2011 converted into equity during the quarter ended September 30, 2011 (see Note 9).

The Company’s continued operation will depend on its ability to raise additional funds through various potential sources such as equity and debt financing, collaborative agreements, strategic alliances and its ability to realize the full potential of its technology in development. Additional funds may not become available on acceptable terms, and there can be no assurance that any additional funding that the Company does obtain will be sufficient to meet the Company’s needs in the long-term.

These matters raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.

REVERSE STOCK SPLIT

9 Months Ended

Sep. 30, 2011

Reverse Stock Split [Abstract]

Reverse Stock Split [Text Block]

3.	REVERSE STOCK SPLIT

The Company implemented a 1-for-50 reverse stock split of its common stock, $0.001 par value per share on June 20, 2011 (the “Reverse Split”). The split-adjusted shares of the Company’s Common Stock began trading on the OTCBB on July 14, 2011 under the symbol “MHAND,” with a “D” added for 20 trading days to signify that the reverse stock split has occurred. A new CUSIP number has been assigned to the Company’s Common Stock as a result of the reverse split.

The reverse Stock Split did not change the par value of the Company’s Common Stock, which remains at $0.001 per share, or the number of shares of common stock the Company is authorized to issue, which remains at 500,000,000 shares. At the Company’s Annual Meeting of Stockholders held on May 20, 2011, the Company’s stockholders approved a proposal authorizing the Company’s Board of Directors (the “Board”), at its discretion, to amend the Company’s Amended and Restated Certificate of Incorporation, as amended (the “Certificate of Incorporation”), to effect a reverse stock split of the Company’s issued and outstanding shares of common stock, par value $0.001 per share, within the range of 1-for-25 and 1-for-50, inclusive, without further approval or authorization of the Company’s stockholders if the Board determines in the future that such a reverse stock split is in the best interests of the stockholders. This 1-for-50 reverse stock split was approved by the Company’s Board of Director pursuant to such stockholder authorization.

Details of the Reverse Split:

At June 20, 2011, immediately and without further action by the Company’s stockholders, every fifty (50) shares of the Company’s pre-split Common Stock, par value $0.001 per share, was automatically converted into one (1) share of post-split Common Stock, par value $0.001 per share. Accordingly, the Company’s approximately 129.8 million pre-split shares of common stock outstanding will be combined into approximately 2.6 million post-split shares outstanding. The reverse stock split affects all issued and outstanding shares of the Company’s Common Stock immediately prior to June 20, 2011. In addition, proportional adjustments will be made to the Company’s equity awards, outstanding warrants and convertible notes.

Continental Stock Transfer and Trust Company, Manhattan’s transfer agent, will act as exchange agent for the exchange. Stockholders will receive forms and notices to exchange their existing shares for new shares from the exchange agent or their broker. No fractional shares will be issued. Stockholders who otherwise would be entitled to receive fractional shares because they hold a number of shares not evenly divisible by 50, will automatically receive one whole share of Common Stock in lieu of the fractional share.

As a result of the Reverse Split the 12% secured notes (see Note 9) and interest thereon became convertible, and did convert, into common stock at $0.50 ($0.01 on a pre-Reverse Split basis). This triggered the anti-dilution rights of certain warrant holders. All share amounts are reflected in these financial statements on a post-Reverse Split basis and reflect the conversion of the 12% secured notes and the anti-dilution rights. The following table illustrates the effects of the Reverse Split, the conversion of the 12% secured notes and the anti-dilution rights.

	Pre-Reverse Split		Anti-dilution Effect		Reverse Split Effect			Conversion of 12% Secured Notes and Interest			As of September 30, 2011, Post- Reverse Split, Anti-dilution and Conversion
Shares outstanding:
Before conversion of 12% Secured Notes		129,793,289				(127,197,423	)					2,595,866
Conversion of 12% Secured Notes									4,802,199			4,802,199
After conversion		129,793,289		-		(127,197,423	)		4,802,199			7,398,065
Shares issuable:
Warrants with antidilution rights		129,911,363		963,038,387		(1,071,090,755	)					21,858,995
Warrants without antidilution rights		12,989,189				(12,729,405	)					259,784
Options		11,564,936				(11,333,637	)					231,299
Ariston milestone shares		15,890,452				(15,572,643	)					317,809
12% Secured Notes and interest		240,107,200				(235,305,001	)		(4,802,199	)		-
Other Convertible debt		45,776,620				(44,861,088	)					915,532
Total shares issued and issuable		586,033,049		963,038,387		(1,518,089,952	)		-			30,981,484

COMPUTATION OF NET INCOME (LOSS) PER COMMON SHARE

9 Months Ended

Sep. 30, 2011

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

4.	COMPUTATION OF NET INCOME (LOSS) PER COMMON SHARE

Basic net income (loss) per common share is calculated by dividing net income (loss) applicable to common shares by the weighted-average number of common shares outstanding for the period. Diluted net income (loss) per common share is the same as basic net income (loss) per common share for the three and nine month periods ended September 30, 2011 and 2010, since potentially dilutive securities would have an anti-dilutive effect either because such potentially dilutive securities were out of the money and the Company realized net income in the period or because the Company incurred a net loss in the period. The amounts of potentially dilutive securities excluded from the calculation were 23,265,610 and 4,231,197 shares at September 30, 2011 and 2010, respectively.

SHARE-BASED COMPENSATION

9 Months Ended

Sep. 30, 2011

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

5.	SHARE-BASED COMPENSATION

The Company has stockholder-approved stock incentive plans for employees, directors, officers and consultants. Prior to January 1, 2006, the Company accounted for the employee, director and officer plans using the intrinsic value method. On January 1, 2006, the Company adopted the share-based payment method for employee options using the modified prospective transition method.

The Company recognizes compensation expense related to stock option grants on a straight-line basis over the vesting period. The Company recognized share-based compensation cost of $19,210 and $211,771 for the nine months ended September 30, 2011 and 2010, respectively.The Company recognized share-based compensation cost of $5,597 and $5,630 for the three months ended September 20, 2011 and 2010, respectively. The Company did not capitalize any share-based compensation cost.

Options granted to consultants and other non-employees are recorded at fair value at the date of grant and subsequently adjusted to fair value at the end of each reporting period until such options vest, and the fair value of the options, as adjusted, is amortized to consulting expense over the related vesting period. As a result of adjusting consultant and other non-employee options to fair value, the Company recognized share-based compensation cost of $0 and $107, respectively, for the three and nine month periods ended September 30, 2011 and 2010. The Company has allocated share-based compensation costs to general and administrative and research and development expenses as follows:

	Three months ended September 30,				Nine months ended September 30,
	2011		2010		2011		2010
General and administrative expense:
Share-based employee compensation cost	$	5,597	$	5,597	$	19,210	$	211,664
Share-based consultant and non-employee cost		-		3		-		11
Total general and administrative expense		5,597		5,600		19,210		211,675
Research and development expense:
Share-based employee compensation cost		-		-		-		-
Share-based consultant and non-employee cost		-		30		-		96
Total research and development expense		-		30		-		96
Total share-based cost	$	5,597	$	5,630	$	19,210	$	211,771

To compute compensation charges in 2011 and 2010 the Company estimated the fair value of each option award on the date of grant using the Black-Scholes model. The Company based the expected volatility assumption on a volatility index of peer companies as the Company did not have a sufficient number of years of historical volatility of its common stock. The expected term of options granted represents the period of time that options are expected to be outstanding. The Company estimated the expected term of stock options by the simplified method. The expected forfeiture rates are based on the historical employee forfeiture experiences. To determine the risk-free interest rate, the Company utilized the U.S. Treasury yield curve in effect at the time of grant with a term consistent with the expected term of the Company’s awards. The Company has not declared a dividend on its common stock since its inception and has no intentions of declaring a dividend in the foreseeable future and therefore used a dividend yield of zero.

The following table shows the weighted average assumptions the Company used to develop the fair value estimates for the stock options granted in the nine month period ended September 30, 2010 (there were no options granted in the nine month period ended September 30, 2011):

	Nine months ended September 30,
	2011		2010
Expected volatility		-		88	%
Dividend yield		-		-
Expected term (in years)		-		5.7
Risk-free interest rate		-		2.46	%

The Company has shareholder-approved incentive stock option plans for employees under which it has granted non-qualified and incentive stock options. In December 2003, the Company established the 2003 Stock Option Plan (the “2003 Plan”), which provided for the granting of up to 108,000 options to officers, directors, employees and consultants for the purchase of stock. Subsequently, the Company increased the number of shares of common stock reserved for issuance under the 2003 Plan by 192,000. At September 30, 2011, 300,000 shares were authorized for issuance. The options have a maximum term of 10 years and vest over a period determined by the Company’s Board of Directors (generally 3 years) and are issued at an exercise price equal to or greater than the fair market value of the shares at the date of grant. The 2003 Plan expires on December 10, 2013 or when all options have been granted, whichever is sooner. At September 30, 2011 options to purchase 208,754 shares were outstanding, 556 shares of common stock were issued and there were 90,690 shares reserved for future grants under the 2003 Plan.

In July 1995, the Company established the 1995 Stock Option Plan (the”1995 Plan”), which provided for the granting of options to purchase up to 2,600 shares of the Company’s common stock to officers, directors, employees and consultants. The 1995 Plan was amended several times to increase the number of shares reserved for stock option grants. In June 2005, the 1995 Plan expired and no further options can be granted. At September 30, 2011 options to purchase 22,545 shares were outstanding and no shares were reserved for future stock option grants under the 1995 Plan.

A summary of the status of the Company’s stock options as of September 30, 2011 and changes during the period then ended is presented below:

	Shares			Weighted average exercise price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Outstanding at December 31, 2010		231,499		$	24.37		6.72
Granted		-
Exercised		-
Cancelled		(200	)	$	14.00
Outstanding at September 30, 2011		231,299		$	24.37		5.19	$	-

Exercisable at September 30, 2011		210,303		$	26.45		4.86	$	-
Vested and expected to vest at September 30, 2011		229,404		$	24.54		5.16	$	-

As of September 30, 2011, the total compensation cost related to nonvested option awards not yet recognized is $36,904. The weighted average period over which it is expected to be recognized is approximately 1.43 years.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 40
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929

+ Details

JOINT VENTURE

9 Months Ended

Sep. 30, 2011

Investments In and Advances To Affiliates, Schedule Of Investments [Abstract]

Investments in and Advances to Affiliates [Text Block]

6. JOINT VENTURE

In February 2008, the Company and Nordic Biotech Advisors ApS through its investment fund Nordic Biotech Venture Fund II K/S (“Nordic”) entered into a joint venture agreement (the “Hedrin JV Agreement”) to develop and commercialize the Company's North American rights (under license) to its Hedrin product.

Pursuant to the Hedrin JV Agreement, Nordic formed a new Danish limited partnership, H Pharmaceuticals K/S, (the "Hedrin JV") and provided it with $5.5 million funding in several tranches through January of 2010 and the Company assigned and transferred its North American rights in Hedrin to the Hedrin JV in return for a $3.5 million cash payment from the Hedrin JV, paid in several tranches, and equity in the Hedrin JV representing 47.62% of the nominal equity interests in the Hedrin JV. Through January 2010 the Company recognized an investment in the Hedrin JV of $0.75 million and an exchange obligation of $3.95 million. The exchange obligation represents the Company’s obligation to Nordic to issue the Company’s common stock in exchange for all or a portion of Nordic’s equity interest in the Hedrin JV upon the exercise by Nordic of the put issued to Nordic in the Hedrin JV Agreement transaction. The put is described below.

Nordic had an option to put all or a portion of its equity interest in the Hedrin JV to the Company in exchange for the Company’s common stock (the “Nordic Put”). The Company had an option to, under certain conditions, call all or a portion of Nordic’s equity interest in the Hedrin JV in exchange for the Company’s common stock (the “Nordic Call”). The Nordic Put and the Nordic Call terminated upon the execution, on January 4, 2011, of a settlement and release agreement between Nordic and the Company. The settlement and release agreement is discussed below.

Nordic paid the Company a non-refundable fee of $150,000 in February 2008 for the right to receive a warrant covering shares of the Company’s commons stock. The warrant (the “Nordic Warrant”) was issued in 2008. The Nordic Warrant terminated upon the execution, on January 4, 2011, of a settlement and release agreement between Nordic and the Company. The settlement and release agreement is discussed below.

The Hedrin JV is responsible for the development and commercialization of Hedrin for the North American market and all associated costs including clinical trials, regulatory costs, patent costs, and future milestone payments owed to Thornton & Ross, Ltd., the licensor of Hedrin.

The Hedrin JV engaged the Company to provide management services to the Hedrin JV in exchange for a management fee. For the nine months ended September 30, 2011 and 2010, the Company has recognized $0 and $225,000, respectively, of management fees earned from the Hedrin JV which is included in the Company’s consolidated statements of operations as a component of interest and other income. The management services agreement terminated upon the execution, on January 4, 2011, of a settlement and release agreement between Nordic and the Company. The settlement and release agreement is discussed below.

As previously reported, the Company and Nordic have had various disputes relating to the Hedrin JV, to the Nordic Put and the Nordic Warrant. On January 4, 2011 the Company entered into a settlement and release agreement (the “Nordic Settlement”) with Nordic and the Hedrin JV that resolves all disputes between and among the Company, Nordic and the Hedrin JV.

The principal terms of the Nordic Settlement are:

The Nordic Put has been terminated. The Company believed the Nordic Put permitted Nordic to become the owner, upon exercise of the Nordic Put, of 1,428,571 shares of the Company’s common stock. Nordic asserted that the Nordic Put would have permitted Nordic to become the owner of 3,666,666 shares of the Company’s common stock.

The Nordic Warrant has been terminated. The Company believed the Nordic Warrant covered 285,714 shares of the Company’s common stock. Nordic asserted that the Nordic Warrant covered 666,666 shares of the Company’s common stock.

Nordic was required to make an additional, non-dilutive capital contribution to the Hedrin JV of $1,500,000, which includes $300,000 contributed to the Hedrin JV by Nordic on December 15, 2010.

The Hedrin JV has paid to the Company a settlement amount of $500,000, less any "Excess Payment" (defined below). An "Excess Payment" is the amount by which Nordic’s and the Hedrin JV’s reasonable out-of-pocket legal and other costs incurred with respect to the Settlement and Release Agreement exceed $70,000. To date there have been no Excess Payments.

Our equity interest in the Hedrin JV was reduced to 15%, and further reductions in our equity interest are possible if and when Nordic makes additional capital contributions to the Hedrin JV. In no event shall the capital contributions by Nordic reduce our ownership in the Hedrin JV below 5%.

The Hedrin JV has paid $75,000 to the Company under the Services Agreement, dated February 21, 2008, and that Services Agreement is terminated as of December 31, 2010.

The Hedrin JV Agreement, dated January 31, 2008, as amended on February 18, 2008, and as further amended by an Omnibus Amendment on June 9, 2008, between the Company and Nordic; the Shareholders’ Agreement, dated February 21, 2008, as amended by an Omnibus Amendment on June 9, 2008, with respect to the Hedrin JV, and the Registration Rights Agreement, dated February 25, 2009, are terminated.

At December 31, 2010 the Company had unrecognized equity in its share of the losses of the Hedrin JV of approximately $560,000. In conjunction with the Nordic Settlement the Company recognized this $560,000 of its share of the losses of the Hedrin JV during the nine months ended September 30, 2011. The Company also recognized a gain on the Nordic Settlement of approximately $4.5 million during the nine months ended September 30, 2011. The components of the gain on the Nordic Settlement are as follows:

	Total			Cash portion		Non cash portion
Exchange obligation, termination of the Nordic Put	$	3,949,176		$	-	$	3,949,176
Termination of the Nordic Warrant		71,429			-		71,429
Payment of settlement amount		500,000			500,000		-
Other		(3,117	)		-		(3,117	)
Totals	$	4,517,488		$	500,000	$	4,017,488

On April 19, 2011 H Pharmaceuticals K/S (the “Hedrin JV”), of which the Company was a 15% limited partner at the time, filed a demand for arbitration against Thornton & Ross, LTD. (“T&R”) with respect to alleged breaches by T&R of an Exclusive License Agreement (the “Hedrin License”) dated June 28, 2007, which was originally entered into between the Company and T&R, and which the Company assigned in 2008 to the Hedrin JV, with T&R’s consent. The Hedrin JV is seeking damages from T&R in the amount of approximately $7,000,000. The Company was not a party to the initial arbitration demand.

On May 20, 2011 T&R filed an answer to the arbitration demand in which T&R asserted counterclaims against the Hedrin JV for alleged breaches by the Hedrin JV of the Hedrin License and for declaratory relief that the Hedrin License was properly terminated by T&R. In addition, T&R has impleaded an individual (who is not associated with the Company), Nordic Biotech Venture Fund II K/S (an investment fund) and the Company, demanding arbitration against them based on alleged breaches of the Hedrin License and other related claims. T&R is seeking damages of approximately $20,000,000.

The Company has not yet responded to the arbitration demand against it, but believes that T&R’s claims against the Company are without merit. The arbitration has begun between the Hedrin JV and T&R without the Company being named as a participant. The Hedrin JV and T&R held a mediation session in order to avoid the arbitration process. The mediation process did not produce a result. Nordic has recently made an additional capital contribution to the Hedrin JV in order to fund the arbitration. As a result of that capital contribution the Company now owns an 11% interest in the Hedrin JV.

2010 EQUITY FINANCING	9 Months Ended
2010 EQUITY FINANCING	Sep. 30, 2011
Stockholders Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	7. 2010 EQUITY FINANCING On March 2, 2010, the Company raised aggregate gross proceeds of approximately $2,547,500 pursuant to a private placement of its securities (the “2010 Equity Financing”). The Company entered into subscription agreements (the "Subscription Agreements") with seventy-seven accredited investors (the "Investors") pursuant to which the Company sold an aggregate of 101.9 Units (as defined herein) for a purchase price of $25,000 per Unit. Pursuant to the Subscription Agreements, the Company issued to each Investor units (the "Units") consisting of (i) 7,143 shares of common stock, $0.001 par value per share (the “Common Stock” or “Shares”) of the Company and (ii) 10,714 warrants (each a “Warrant” and collectively the “Warrants”), each of which will entitle the holder to purchase one additional share of Common Stock for a period of five years (each a “Warrant Share” and collectively the “Warrant Shares”) at an exercise price of $0.08 per share. Because the Warrant Shares are convertible into shares of the Company, subject to adjustment, the conversion feature is subject to Derivative Liability accounting (see Note 10). National Securities Corporation (“National”) was the placement agent for the 2010 Equity Financing transaction. In connection with the issuance of the Securities, the Company issued warrants to purchase an aggregate of 72,786 shares of Common Stock at an exercise price of $4.00 per share, subject to adjustment, to the placement agent and certain of its designees. Because the warrant is convertible into shares of the Company, subject to adjustment, the warrants are subject to Derivative Liability accounting (see Note 10). The warrants expire on March 2, 2015. All of the Investors represented that they were “accredited investors,” as that term is defined in Rule 501(a) of Regulation D under the Securities Act, and the sale of the Units was made in reliance on exemptions provided by Regulation D and Section 4(2) of the Securities Act of 1933, as amended. In connection with the closing of the private placement, the Company, the placement agent acting in connection with the private placement (the “Placement Agent”) and the Investors entered into a Registration Rights Agreement, dated as of March 2, 2010, and the Company agreed to, and did, file a registration statement to register the resale of the Shares, within 60 days of the final closing date and the registration statement was declared effective within the time limits of the Registration Rights Agreement. The Company received net proceeds of approximately $2,100,000 after payment of an aggregate of approximately $300,000 of commissions and expense allowance to the Placement Agent, and approximately $100,000 of other offering and related costs in connection with the private placement. The Company did not use any form of advertising or general solicitation in connection with the sale of the Units. The Shares, the Warrants and the Warrant Shares are non-transferable in the absence of an effective registration statement under the Act, or an available exemption there from, and all certificates are imprinted with a restrictive legend to that effect. On April 8, 2010, the Company completed the final closing of the 2010 Equity Financing. In connection with the final closing, the Company sold an aggregate of 2.4 additional Units and received net proceeds of approximately $51,700 after payment of an aggregate of $8,300 of commissions and expense allowance to placement agent. In connection with the final closing, the Company also issued a warrant to purchase 257 shares of Common Stock at an exercise price of $4.00 per share to the placement agent as additional compensation for its services. In addition, on April 8, 2010, the holder of the Convertible 12% Note (see Note 8) with a stated value of $400,000 and $22,000 of accrued interest, exercised its option to convert its Debenture (including all accrued interest thereon) into 16.88 Units. The conversion price was equal to the per Unit purchase price paid by the Investors in the private placement. The Company issued a total of 137,714 shares of Common Stock and Warrants to purchase 206,571 shares of Common Stock at an exercise price of $4.00 per share to the investors in the final closing of the 2010 Equity Financing, including the conversion of the 12% Convertible Note.

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
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+ Details

ARISTON MERGER

9 Months Ended

Sep. 30, 2011

Ariston Merger [Abstract]

Ariston Merger [Text Block]

8. ARISTON MERGER

On March 8, 2010, the Company entered into the Merger Agreement by and among the Company, Ariston and Merger Sub. Pursuant to the terms and conditions set forth in the Merger Agreement, on March 8, 2010, the Merger Sub merged with and into Ariston, with Ariston being the surviving corporation of the Merger. As a result of the Merger, Ariston became a wholly-owned subsidiary of the Company.

Under the terms of the Merger Agreement, the consideration payable by Manhattan to the stockholders and note holders of Ariston consists of the issuance of 1,412,488 shares of Manhattan’s common stock, par value $0.001 per share, ("Common Stock") at Closing (as defined in the Merger Agreement) plus the right to receive up to an additional 494,370 shares of Common Stock (the “Milestone Shares”) upon the achievement of certain product-related milestones described below. In addition, Manhattan has reserved 772,624 shares of its Common Stock for possible future issuance in connection with the conversion of $15.45 million of outstanding Ariston convertible promissory notes. The noteholders will not have any recourse to Manhattan for repayment of the notes (their sole recourse being to Ariston), but the noteholders will have the right to convert the notes into shares of the Manhattan’s Common Stock at the rate of $20.00 per share. Further, Manhattan has reserved 100,000 shares of its Common Stock for possible future issuance in connection with the conversion of the $1.0 million outstanding Ariston convertible promissory note issued in satisfaction of a trade payable. The noteholder will not have any recourse to Manhattan for repayment of the note (their sole recourse being to Ariston), but the noteholder will have the right to convert the note into shares of Manhattan’s Common Stock at the rate of $10.00 per share.

Upon the achievement of the milestones described below, Manhattan would be obligated to issue portions of the Milestone Shares to the former Ariston stockholders and noteholders:

Upon the affirmative decision of Manhattan’s Board of Directors, provided that such decision is made prior to March 8, 2011, to further develop the AST-915, either internally or through a corporate partnership, Manhattan would issue 176,561 of the Milestone Shares. This milestone was attained in January 2011 and the shares were issued in March 2011. The Company recognized approximately $220,000 of research and development expense during the nine months ended September 30, 2011 from the issuance of these shares.

Upon the acceptance by the FDA of the Ariston’s filing of the first New Drug Application for the AST-726 product candidate, Manhattan would issue 141,248 of the Milestone Shares.

Upon the Company receiving FDA approval to market the AST-726 product candidate in the United States of America, Manhattan would issue 176,561 of the Milestone Shares.

Certain members and former members of Manhattan’s board of directors and principal stockholders of Manhattan at the time of the Merger owned Ariston securities as of the closing of the Merger:

Timothy McInerney, a former director of Manhattan, owned 333 shares of Ariston common stock which represented less than 1% of Ariston’s outstanding common stock as of the closing of the Merger.

Neil Herskowitz, a director of Manhattan, indirectly owned convertible promissory notes of Ariston with interest and principal in the amount of $192,739.

Michael Weiser, a former director of Manhattan, owned 2,347 shares of Ariston common stock, which represented approximately 2.1% of Ariston’s outstanding common stock as of the closing of the Merger.

Lindsay Rosenwald, a more than 5% beneficial owner of Manhattan common stock, in his individual capacity and indirectly through trusts and companies he controls, owned 9,958 shares of Ariston common stock, which represented approximately 8.9% of Ariston’s outstanding common stock as of the closing of the Merger and indirectly owned convertible promissory notes of Ariston in the amount of $141,438.

The Company merged with Ariston principally to add new products to its portfolio. Prior to the Merger, Ariston was a private, clinical stage specialty biopharmaceutical company based in Shrewsbury, Massachusetts that in-licensed, developed and planned to market novel therapeutics for the treatment of serious disorders of the central and peripheral nervous systems.

The Merger date fair value of the total consideration paid was $1,491,937 which consisted of 141,248 shares of the Company’s common stock issued upon the Merger and 317,809 contingently issuable shares upon Ariston’s attaining certain milestones as described above. At the time of the Merger, the Company did not believe the attainment of the milestone for AST-915 was highly probable and, therefore, recorded no contingent consideration relative to it. The par value of the contingently issuable common shares is reflected in the accompanying consolidated balance sheets as of September 30, 2011 and December 31, 2010 as a component of stockholders’ deficiency, contingently issuable shares. The Company incurred $9,527 of acquisition related costs.

The following table summarizes the fair values of the assets acquired and liabilities assumed at the Merger date:

Cash and cash equivalents	$	519,365
Other assets		120,870
Total identifiable assets		640,235
Accounts payable and accrued expenses		437,615
ICON convertible note payable		1,000,000
5% convertible notes payable		15,452,793
Total identifiable liabilities		16,890,408
Net identifiable assets (liabilities)		(16,250,173	)
In-process research and development acquired		17,742,110

Net assets acquired	$	1,491,937

The following supplemental pro forma information presents the financial results as if the acquisition of Ariston had occurred on January 1, 2010 for the three and nine month periods ended September 30, 2010. This supplemental pro forma information has been prepared for comparative purposes and does not purport to be indicative of what would have occurred had the acquisition been made on January 1, 2010, nor are they indicative of future results.

Pro forma consolidated results:	Three Month Period Ended September 30, 2010		Nine Month Period Ended September 30, 2010
Revenue	$	-	$	-
Net income	$	41,247	$	104,411
Basic and diluted income per share	$	0.02	$	0.05

NOTES PAYABLE

9 Months Ended

Sep. 30, 2011

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

9. NOTES PAYABLE

The following is a summary of Notes Payable:

	At September 30, 2011						At December 31, 2010
	Current portion, net		Non-current portion, net		Total		Current portion, net		Non-current portion, net		Total
Secured 12% Note Payable, Net	$	-	$	-	$	-	$	1,722,346	$	-	$	1,722,346
Non-interest Bearing Note Payable, Net		246,900		-		246,900		231,900		-		231,900
Convertible 5% Notes Payable		-		16,225,433		16,225,433		-		15,452,793		15,452,793
ICON Convertible Note		514,414		163,364		677,778		100,000		677,778		777,778
Total	$	761,314	$	16,388,797	$	17,150,111	$	2,054,246	$	16,130,571	$	18,184,817

a. Secured 12% Notes Payable

In 2008 and 2009 the Company sold $1,725,000 of 12% senior secured notes (the “Secured 12% Notes”) that mature two years after issuance and issued warrants to the investors to purchase 1.15 million shares of the Company’s common stock at $4.50 per share. The warrants expire on December 31, 2013. Net proceeds of $1.4 million were realized and $78,000 of issuance costs were paid outside of the closings.

On February 9, 2011, the Company entered into a waiver and forbearance agreement (the “Extension Agreement”) with the requisite holders of the Secured 12% Notes whereby the holders of the notes (the “Noteholders”) agreed to forbear the exercise of their rights under the Notes and waive the default thereof until December 31, 2011. As part of the Extension Agreement, the Company has agreed to take and has taken prompt steps to seek to reduce its outstanding indebtedness by permitting the Noteholders to convert the Secured 12% Notes into shares of the Company's common stock at a conversion price of $0.50 per share and to amend the terms of the warrants issued with the Secured 12 % Notes to include a full-ratchet anti-dilution feature and an exercise price of $0.50 per share. The Company obtained stockholder approval to, among other things, increase the number of its authorized common stock. The Company has increased its authorized shares of common stock through the Reverse Split. As a result of the Reverse Split the Secured 12% Notes became convertible into common stock at a conversion price of $0.50, this triggered the antidilution rights of the warrants issued with Secured 12% Notes, the warrants issued with the Convertible 12% Note and the warrants issued in the 2010 Equity Pipe. The Secured 12% Notes and interest thereon, amounting to $676,072 at the time of conversion, converted into the right to receive 4,802,199 shares of the Company’s common stock on September 15, 2011 (the “Secured Debt Conversion”).

National Securities Corporation (“National”) was the placement agent for the Secured 12% Notes Transaction. The Company issued to National, as a component of their placement agent fee, Warrants to purchase 0.2 million shares of the Company’s common stock at $4.50 per share. The Warrants expire on December 31, 2013.

Interest on the Secured 12% Notes is compounded quarterly and was payable at maturity. At December 31, 2010, accrued and unpaid interest on the Secured 12% Notes amounted to approximately $481,000, and is reflected in the accompanying balance sheet December 31, 2010 as part of interest payable. The Secured 12% Notes are secured by a pledge of all of the Company’s assets except for its investment in the Hedrin JV. In addition, to provide additional security for the Company’s obligations under the notes, the Company entered into a default agreement, which provides that upon an event of default under the notes, the Company shall, at the request of the holders of the notes, use reasonable commercial efforts to either (i) sell a part or all of the Company’s interests in the Hedrin joint venture or (ii) transfer all or part of the Company’s interest in the Hedrin JV to the holders of the notes, as necessary, in order to fulfill the Company’s obligations under the notes, to the extent required and to the extent permitted by the applicable Hedrin joint venture agreements.

The Company incurred a total of approximately $424,000 of costs in the issuance of the $1,725,000 of Secured 12% Notes sold in 2008 and 2009. These costs were capitalized and were amortized over the life of the Secured 12% Notes into interest expense. During the nine months ended September 30, 2011 and the year ended December 31, 2010, the amount amortized into interest expense was approximately $4,000 and $197,000, respectively. At June 30, 2011 the costs of issuance were fully amortized. At December 31, 2010 the remaining unamortized balance of approximately $4,000 is reflected in the accompanying balance sheet as of December 31, 2010 as debt issue costs.

The Company recognized an original issue discount (the “OID”) of approximately $194,000 on the issuance of the Secured 12% Notes sold for the value of the warrants issued to the investors. The OID was being amortized over the life of the Secured 12% Notes into interest expense. During the nine months ended September 30, 2011 and year ended December 31, 2010 the amount amortized into interest expense was approximately $3,000 and $91,000, respectively. At June 30, 2011 the OID was fully amortized. At December 31, 2010 the remaining unamortized balance of approximately $3,000 has been netted against the face amount of Notes Payable in the accompanying balance sheet as of December 31, 2010.

The closing market price of the Company’s common stock on February 9, 2011 was greater than the conversion price, therefore the Company recognized a beneficial conversion feature of $1,725,000 on the Secured 12% Notes and $502,949 on interest payable on the Secured 12% Notes. The closing market price of the Company’s common stock on March 31, 2011 was greater than the conversion price, therefore the Company recognized an additional beneficial conversion feature of $17,647 on interest payable on the Secured 12% Notes. The closing market price of the Company’s common stock on June 30, 2011 was less than the conversion price, therefore there was no beneficial conversion charges for the interest during the quarter ended June 30, 2011. The beneficial conversion feature has been recorded as a discount on the Secured 12% Notes and on the interest payable on the Secured 12% Notes. The Secured 12% Notes became convertible upon the execution of the Reverse Split on June 20, 2011. The beneficial conversion feature was amortized on a straight-line basis over the remaining term of the Secured 12% Notes (June 20, 2011 through December 31, 2011). The Company amortized $1,019,684 of the beneficial conversion feature for the nine months ended September 30, 2011, which is reflected in the accompanying Statement of Operations as a component of interest expense. At the date of the Secured Debt Conversion the unamortized portion of the beneficial conversion feature amounted to $1,225,912 and was charged to income as loss on early extinguishment of debt.

b. 8% Note Payable

On December 21, 2009, the Company entered into a Future Advance Promissory Note (the “8% Note”) with Ariston under which the Company may withdraw up to $67,000 bearing interest at a rate of 8%. As of December 31, 2009, the Company had withdrawn $27,000 from Ariston subject to the terms of the 8% Note. On January 13, 2010, the Company withdrew an additional $20,000 subject to the 8% Note and on January 28, 2010, the Company withdrew an additional $20,000 subject to the 8% Note. On March 4, 2010, the Company repaid Ariston the $67,000 withdrawn subject to the 8% Note and accrued interest of $816.

c. Non-interest Bearing Note Payable

On October 27, 2009, the Company entered into a Settlement Agreement and Mutual Release with Swiss Pharma Contract LTD (“Swiss Pharma”) pursuant to which the Company agreed to pay Swiss Pharma $200,000 and issue to Swiss Pharma an interest free promissory note due on October 27, 2011 in the principal amount of $250,000 in full satisfaction of the September 5, 2008 arbitration award.

In connection with the non-interest bearing note, the Company recognized an original issue discount of $40,000 of imputed interest on the note, which is being amortized into interest expense on a straight-line basis over the two-year term of the note. For the nine months ended September 30, 2011 and the year ended December 31, 2010, the Company amortized $15,000 and $20,000 of the OID into interest expense, respectively. The remaining unamortized balances of $3,100 and $18,100 have been netted against the face amount of Notes payable, current portion, net in the accompanying balance sheets as of September 30, 2011 and December 31, 2010, respectively.

d. Convertible 12% Note Payable

In October 2009, the Company sold a 12% Original Issue Discount Senior Subordinated Convertible Debenture with a stated value of $400,000 (the “Convertible 12% Note”) and a warrant to purchase 44,444 shares of the Company’s common stock for a purchase price of $200,000. National was the placement agent for the Convertible 12% Note transaction. The Company issued to National, as a component of their placement agent fee, warrants to purchase 4,444 shares of the Company’s common stock. The warrants issued to the investors and National expire in October 2014 and were exercisable at an original price of $5.50 per share, subject to adjustment. As a result of the 2010 Equity Financing the exercise price and number of shares represented by these warrants adjusted to 69,841 shares at $3.50 per share for the investors and 6,984 shares at $3.50 per share for National.

The Convertible 12% Note was convertible into shares of the Company’s common stock in the event the Company issues new securities in connection with a financing. The Convertible 12% Note may be converted into such new securities at a conversion price equal to the purchase price paid by the purchasers of such new securities. On April 8, 2010, the holder of the Convertible12% Note exercised its option to convert its note, including all accrued interest thereon, into 16.88 Units of the 2010 Equity Financing.

e. Convertible 5% Notes Payable

Upon the Merger, Ariston issued $15,452,793 of five-year 5% notes payable (the “5% Notes”) in satisfaction of several note payable issuances. The cumulative liability including accrued and unpaid interest of these several issuances of notes was $15,452,793 as of the Merger date. The 5% Notes and accrued and unpaid interest thereon are convertible at the option of the holder into the Manhattan’s common stock at the conversion price of $20 per share. Ariston agreed to make quarterly payments on the 5% Notes equal to 50% of the net product cash flow received from the exploitation or commercialization of Ariston’s product candidates, AST-726 and AST-915. The 5% Notes are solely the obligation of Ariston and have no recourse to Manhattan other than the conversion feature discussed above. Interest accrues monthly, is added to principal on an annual basis, every March 8, and is payable at maturity. For the nine months ended September 30, 2011, the Company recorded approximately $601,000 of interest expense on the 5% Notes. On March 8, 2011 the accrued and unpaid interest on the 5% Notes was $772,640 and was added to the principal amount of the 5% Notes Payable. At September 30, 2011 the principal amount of the 5% Notes was $16,225,433 and interest payable on the 5% Notes Payable was $455,214 and were reflected as components of notes payable, noncurrent portion, net and interest payable, noncurrent portion, respectively, in the accompanying balance sheet as of September 30, 2011. At December 31, 2010 the principal amount of the 5% Notes was $15,452,793 and interest payable on the 5% Notes Payable was $626,697 and were reflected as components of notes payable, noncurrent portion, net and interest payable, noncurrent portion, respectively, in the accompanying balance sheet as of December 31, 2010.

f. ICON Convertible Note Payable

Upon the Merger, Ariston satisfied an account payable of $1,275,188 to ICON Clinical Research Limited (“ICON”) through the payment of $275,188 in cash and the issuance of a three-year 5% note payable (the “ICON Note”). The principal was to be repaid in 36 monthly installments of $27,778 commencing in April 2010. Interest was payable monthly in arrears. On March 1, 2011 Ariston entered into an amended and restated convertible promissory note (the “Amended ICON Note”) with ICON. The principal terms of the Amended ICON Note are that monthly payments of principal and interest will be waived for the thirteen month period ended December 31, 2011 (the “Waiver Period”) in exchange for a single payment of $100,000 on March 31, 2011, an increase in the interest on the Amended ICON Note from 5% to 8% per annum during the Waiver Period and a balloon payment on January 31, 2012. The Amended Note decreased the debt service requirements of the Company and Ariston by approximately $300,000 during the thirteen-month period ended December 31, 2011. The Amended ICON Note is convertible at the option of the holder into the Company’s common stock at the conversion price of $10 per share. During the nine months ended September 30, 2011, the Company has recorded approximately $44,000 of interest expense on the Amended ICON Note. At September 30, 2011 the principal amount of the Amended ICON Note was $667,778, of which $514,414 was current, and interest payable on the Amended ICON Note was $47,223 and were reflected as components of notes payable, current portion, net, notes payable, noncurrent portion, net, and interest payable, current portion, net respectively, in the accompanying balance sheet as of September 30, 2011. At December 31, 2010 the principal amount of the Amended ICON Note was $777,778, of which $100,000 was current, and interest payable on the Amended ICON Note was $3,303 and were reflected as components of notes payable, current portion, net, notes payable, noncurrent portion, net and interest payable, current portion, respectively, in the accompanying balance sheet as of December 31, 2010.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References + Details

DERIVATIVE LIABILITY

9 Months Ended

Sep. 30, 2011

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities Disclosure [Text Block]

10. DERIVATIVE LIABILITIES

In April 2008, the FASB issued ASC 815 which provides guidance on determining what types of instruments or embedded features in an instrument held by a reporting entity can be considered indexed to its own stock for the purpose of evaluating the first criteria of the scope exception in the pronouncement on accounting for derivatives. This pronouncement was effective for financial statements issued for fiscal years beginning after December 15, 2008. The adoption of these requirements can affect the accounting for warrants and many convertible instruments with provisions that protect holders from a decline in the stock price (or “down-round” provisions). For example, warrants with such provisions will no longer be recorded in equity. Down-round provisions reduce the exercise price of a warrant or convertible instrument if a company either issues equity shares for a price that is lower than the exercise price of those instruments or issues new warrants or convertible instruments that have a lower exercise price. We evaluated whether warrants to acquire stock of the Company contain provisions that protect holders from declines in the stock price or otherwise could result in modification of the exercise price under the respective warrant agreements. We determined that the warrant issued to Nordic in April 2008 (the “Nordic Warrant”), contained such provisions, thereby concluding it was not indexed to the Company’s own stock and was reclassified from equity to derivative liabilities.

In accordance with ASC 815, the Company estimated the fair value of the Nordic Warrant as of January 1, 2009 to be $22,222 by recording a reduction in additional paid-in capital of $150,000 and a decrease in deficit accumulated during the development stage of $127,778. The effect of this adjustment was recorded as a cumulative effect of change in accounting principle in our statements of stockholders’ equity (deficiency).

We also determined that the Convertible 12% Note Payable issued in 2009, the warrants issued in connection with the Convertible 12% Note Payable, the warrants issued in connection with the 2010 Equity Financing and the amended warrants associated with the Secured 12% Notes contained such provisions and therefore are derivatives. We determined the fair value based on significant inputs not observable in the market and thus represents a Level 3 measurement as defined in ASC 815. The fair values of these derivatives are as follows:

	December 31, 2010		Purchases, sales, issuances and settlements			Change in Fair Value During Nine Months Ended September 30, 2011			September 30, 2011
Nordic Warrant	$	71,429	$	(71,429	)	$	-		$	-
Warrants issued with Convertible 12% Notes		15,644		-			(1,125	)		14,519
Warrants issued in 2010 Equity Financing		447,773		-			(106,012	)		341,761
Amended warrants associated with the 12% Secured Notes		-		115,000			67,550			182,550
Total	$	534,846	$	43,571		$	(39,587	)	$	538,830

In accordance with ASC 815, the fair values of these derivatives were recorded in the accompanying condensed consolidated balance sheets as of September 30, 2011 and December 31, 2010, as a component of a current liability, derivative liability. The changes in fair value during the nine months ended September 30, 2011 and 2010 were $(39,587) and $(2,696,900), respectively and are reported as a non-cash charge in the accompanying condensed consolidated statements of operations as a component of other (income) expense.

- Definition

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 45
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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+ Details

NIH Agreement	9 Months Ended
NIH Agreement	Sep. 30, 2011
Nih Agreement [Abstract]
Nih Agreement [Text Block]	11. NIH Agreement In May 2011 the Company entered into an amendment of a Cooperative Research and Development Agreement (“CRADA”) with the National Institute of Health (“NIH”) for the conduct of two efficacy studies utilizing the Company’s AST-915 product candidate. The Company’s commitment under the CRADA is the payment of $50,000 to the NIH and to provide a neurologist to assist the NIH in the conduct of these two efficacy studies. The term of the amended CRADA is July 1, 2011 through June 30, 2012. The Company paid the $50,000 in June 2011. The $50,000 payment is being amortized into research and development expense on a straight-line basis over the term of the CRADA. The Company recognized $12,500 of research and development expense during the nine months ended September 30, 2011. The remaining unamortized balance was $37,500 at September 30, 2011 and is recorded as a component of other current assets in the accompanying Balance Sheet as of September 30, 2011.