12. QUALIFYING THERAPEUTIC DISCOVERY PROJECT GRANTS
In October 2010, we were notified by the Internal Revenue Service that we had been certified to receive a total cash grant of approximately $2.4 million related to the previously filed applications under the Qualifying Therapeutic Discovery Projects (Section 48D of the Internal Revenue Code). Of this amount, approximately $300,000 and $2.1 million was actually received in 2011 and 2010, respectively. We recognized the total grant of $2.4 million as other income in our 2010 statement of operations.
Disclosure of qualifying project grants which the entity is certified to receive under enactment applicable thereto. It may include the disclosure of amount received and accounting thereof.