Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2012

Share-based Compensation Expense

Share-based compensation expense for the three months ended June 30, 2012 and 2011 was:

	2012		2011
Research and development	$	127,076	$	216,997
General and administrative		384,965		327,703
Total share-based compensation expense	$	512,041	$	544,700

During the three months ended June 30, 2012, we granted 185,000 options to employees and nonemployee directors and made no restricted stock grants.  During the three months ended June 30, 2011, we granted 208,000 options to employees and nonemployee directors and made no restricted stock grants.  At June 30, 2012, we had total unrecognized share-based compensation expense related to unvested awards of approximately $2.9 million, net of estimated forfeitures, which we expect to recognize as expense over a weighted-average period of 2.1 years.

Share-based compensation expense for the six months ended June 30, 2012 and 2011 was:

	2012		2011
Research and development	$	244,143	$	458,431
General and administrative		816,562		796,894
Total share-based compensation expense	$	1,060,705	$	1,255,325