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Subsequent Events | 6 Months Ended
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Jun. 30, 2012
Subsequent Events [Abstract] |
Subsequent Events | Note 10. Subsequent Events Subsequent to the end of the second quarter, 691,000 Series A Warrants were exercised at an exercise price of $1.40 per share. We received gross proceeds of $967,400 and we issued 691,000 shares of our common stock. These warrants were issued as part of our December 2011 financing. In July 2012, we sold a total of 4,207,361 shares of our common stock under a sales agreement entered into in June 2009 at an average price per share of $2.06 for gross proceeds of approximately $8,657,000. The sales agent is paid compensation equal to 3% of gross proceeds pursuant to the terms of the agreement. The shares were offered under our shelf registration statement previously filed with, and declared effective by, the SEC. In July 2012, the California Institute for Regenerative Medicine (CIRM) approved an award to us and our collaborators for up to $20 million under CIRM’s Disease Team Therapy Development Award program (RFA 10-05). The award is to fund preclinical development of our HuCNS-SC product candidate as a potential treatment for cervical spinal cord injury. The award will provide funding over a maximum four-year period, with the goal of filing an investigational new drug (IND) application in that time. Funding to for-profit companies under RFA 10-05 will be structured as loans, in accordance with mutually agreed upon terms and conditions and CIRM regulations.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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