I bet we see more research grants. Might even see one in the millions... The money has been put to good use, they are creating jobs and advancing a life altering technology...
Most significantly, relative to the same period in the prior year, the Company invested in building its research, development and administrative staff, increasing its headcount from 21 full-time employees as of June 30, 2012 to 35 full-time employees as of June 30, 2013.
------------------
NIH and U.S. Treasury Grant Revenues
During 2010, the U.S. Treasury awarded the Company two one-time grants totaling approximately $397,000 for investments in qualifying therapeutic discovery projects under section 48D of the Internal Revenue Code. The grants cover reimbursement for qualifying expenses incurred by the Company in 2010 and 2009. The proceeds from these grants are classified in “Revenues — Grants” for the period from inception through June 30, 2013.
During 2012, 2010 and 2009, the NIH awarded the Company three research grants totaling approximately $558,000. Revenues from the NIH grants are based upon internal and subcontractor costs incurred that are specifically covered by the grants, and where applicable, an additional facilities and administrative rate that provides funding for overhead expenses. These revenues are recognized when expenses have been incurred by subcontractors and as the Company incurs internal expenses that are related to the grants. Revenue recognized under these grants for the three months ended June 30, 2013 and 2012 was approximately $12,000 and $0, respectively. Total revenue recorded under these grants from inception through June 30, 2013 was approximately $558,000.
News 
Market Data 
Discover 
