At Market Issuance Sales Agreement

6 Months Ended

Jun. 30, 2011

At Market Issuance Sales Agreement

Note 6 – At Market Issuance Sales Agreement

In March 2010, the Company entered into a sales agreement, under which the Company may sell an aggregate of $50 million in gross proceeds of its common stock. The Company’s Board of Directors has authorized the sale of up to 25 million shares of the Company’s common stock pursuant to this agreement. The shares of common stock are being offered pursuant to a shelf registration statement filed with the SEC. For the six months ended June 30, 2011, the Company sold 3.5 million shares at an average sales price of $2.38 per share, resulting in $8.3 million in net proceeds. Since June 30, 2011 through August 8, 2011, the Company has sold an additional 0.5 million shares resulting in $0.9 million in net proceeds.