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The Qualifying Therapeutic Discovery Project Grant
 12 Months Ended
Dec. 31, 2011
The Qualifying Therapeutic Discovery Project Grant [Abstract]  
The Qualifying Therapeutic Discovery Project Grant

Note 17. The Qualifying Therapeutic Discovery Project Grant

In October 2010, we were awarded four cash grants totaling approximately $978,000, in aggregate, for work related to both our CNS and Liver Programs. These grants were certified under the federal government’s Qualifying Therapeutic Discovery Projects Program, which was created by Congress as part of the Patient Protection and Affordable Care Act of 2010. We were granted the maximum award of $244,479 for each of our four applications. The credit is a tax benefit targeted to therapeutic discovery projects that show a reasonable potential to:

 

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Result in new therapies to treat areas of unmet medical need or prevent, detect or treat chronic or acute diseases and conditions,

 

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reduce the long-term growth of health care costs in the United States, or

 

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significantly advance the goal of curing cancer within 30 years.

 

Allocation of the credit takes into consideration which projects show the greatest potential to create and sustain high-quality, high-paying U.S. jobs and to advance U.S. competitiveness in life, biological and medical sciences.

We received the funds in full in December 2010, and recognized these grants as “Qualifying therapeutic discovery project grant” under “Other income, (expense), net” in the accompanying Consolidated Statements of Operations.