SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2011

SUBSEQUENT EVENTS

NOTE 11 - SUBSEQUENT EVENTS

a. During January and February 2012, the Company issued a total of 10,239 shares of Common Stock in connection with the exercise of options to purchase 10,239 shares of Common Stock by certain employees of the Company. The Company received aggregate cash proceeds equal to approximately $5 in connection with the exercise of such options.

b. On February 22, 2012, the Company issued and sold 5,175,000 shares of Common Stock in an underwritten public offering at a price to the public of $5.25 per share. The net proceeds to the Company were approximately $25,389 (net of underwriting commissions and issuance costs of $1,567). The offering included the exercise by the underwriters of an over-allotment option to purchase 675,000 shares of Common Stock.