Warrants

6 Months Ended

Jun. 30, 2012

Warrants [Abstract]

WARRANTS

10. WARRANTS

	Issued		Issued
	2007		2009		Total
Outstanding at December 31, 2011		346,781		200,000		546,781
Outstanding at June 30, 2012		346,781		200,000		546,781

In connection with the Company’s private placement in August 2007, the Company issued 5-year warrants to purchase up to 500,041 shares of the Company’s common stock. At June 30, 2012, 346,781 of the 2007 warrants were outstanding and exercisable at a price of $8.00 per share. At August 3, 2012, 60 months from their effective date, all 346,781 of the outstanding 2007 warrants expired.

In addition, in connection with the May 7, 2009 CEFF with Kingsbridge Capital, the Company issued a 5-year warrant to Kingsbridge to purchase up to 200,000 shares of the Company’s common stock at an exercise price of $11.35 per share. These 200,000 warrants are outstanding at June 30, 2012 and, if not exercised, will expire in May of 2014.

No warrants were exercised during the three and six month periods ended June 30, 2012 and June 30, 2011, respectively.