Subsequent Event-Public Offering

12 Months Ended

Dec. 31, 2011

Subsequent Event-Public Offering

Subsequent Event-Public Offering

(15) Subsequent Event—Public Offering

        In January 2012 and February 2012, the Company raised approximately $35.4 million in gross proceeds from the sale of an aggregate 8,050,000 shares of its common stock in a public offering at $4.40 per share, including 7,000,000 shares in the initial closing in January 2012 and 1,050,000 shares in a second closing in February 2012 for the full exercise of the over-allotment option granted to the underwriters. One of the Company's directors, who is its largest stockholder, purchased 1,136,363 shares in this offering. The net offering proceeds after deducting underwriters' discounts, fees and commissions, and other offering expenses payable by the Company were approximately $33.0 million. As of December 31, 2011, the Company had approximately $135,000 in deferred offering costs.