Related Party Transactions

12 Months Ended

Dec. 31, 2011

Related Party Transactions

Related Party Transactions

(12) Related Party Transactions

        The Company paid its scientific founder and a member of the board of directors consulting fees of $120,000 in each of the years ended in December 31, 2011, 2010 and 2009.

        In January 2010, the Company sold an aggregate of 772,222 shares of common stock to certain of the Company's directors and entities affiliated with these directors at a purchase price of $4.50 per share in a public offering (see Note 5).

        In November 2010, the Company entered into a subscription agreement with a director and largest existing stockholder, pursuant to which the Company sold 1,440,923 shares of common stock at a purchase price of $3.47 per share (see Note 5).

        In April 2011, the Company sold an aggregate of 1,581,493 shares of common stock to certain of the Company's directors and entities affiliated with these directors at a purchase price of $4.89 per share in an issuer-directed registered direct offering (see Note 5).

        In January 2012, the Company sold 1,136,363 shares of common stock to a director and largest existing stockholder at a purchase price of $4.40 per share in a public offering (see Note 15).