Diagnostic ultrasound is a safe, inexpensive and highly portable real-time imaging modality for viewing the human body. For over two decades, lipid-coated fluorocarbon microbubble contrast agents have been developed to help improve the diagnostic and therapeutic capabilities of ultrasound, but they have certain limitations. Recently, it was found that the microbubbles can be condensed into superheated liquid nanodrops capable of being vaporized by external optical or acoustic triggers. The compact form and vaporization effects of these phase-shift nanodrops may offer advantages over microbubbles for a number of current and future therapeutic and diagnostic applications. The goal of this dissertation work was to study the molecular thermodynamics and interfacial phenomena of these superheated phase-shift nanodrops.