Quarterly report pursuant to sections 13 or 15(d)

MICHAEL J. FOX FOUNDATION GRANT

v2.3.0.11
MICHAEL J. FOX FOUNDATION GRANT
3 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
MICHAEL J. FOX FOUNDATION GRANT

 

In April 2010, the Company was awarded a grant from the Michael J. Fox Foundation for Parkinson’s Research (“MJFF”). Pursuant to the MJFF grant, the Company performed research related to comparison and analysis of certain genes in rodent models of Parkinson’s disease. The grant provided for the reimbursement of expenses as incurred up to a maximum of $370,716, payable in two installments with targeted payments in April 2010 and October 2010, and it established two milestones. During the three months ended March 31, 2011, the Company achieved certain milestones and received payment and recorded revenue of $178,308. To date, through March 31, 2012, the Company has received a total of $370,716 from the MJFF.