| Quarterly Financial Information (unaudited) |
The following is a summary of the quarterly results of operations for the years ended December 31, 2012 and 2011:
|
|
Consolidated Statements of Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
(In thousands, except per share amounts) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
9,865 |
|
|
$ |
9,275 |
|
|
$ |
7,251 |
|
|
$ |
7,391 |
|
Total operating costs and expenses |
|
|
(24,227 |
) |
|
|
(22,765 |
) |
|
|
(23,404 |
) |
|
|
(19,834 |
) |
Other (expense) income, net (1)
|
|
|
(16,063 |
) |
|
|
(2,665 |
) |
|
|
(10,772 |
) |
|
|
14,985 |
|
|
|
|
- |
|
|
|
- |
|
|
|
74 |
|
|
|
- |
|
|
|
|
(30,425 |
) |
|
|
(16,155 |
) |
|
|
(26,851 |
) |
|
|
2,542 |
|
Basic and diluted net (loss) income per share of common stock |
|
$ |
(0.69 |
) |
|
$ |
(0.24 |
) |
|
$ |
(0.39 |
) |
|
$ |
0.03 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
15,595 |
|
|
$ |
16,525 |
|
|
$ |
16,229 |
|
|
$ |
9,847 |
|
Total operating costs and expenses |
|
|
(22,716 |
) |
|
|
(24,394 |
) |
|
|
(23,147 |
) |
|
|
(21,894 |
) |
Other income (expense), net |
|
|
801 |
|
|
|
(261 |
) |
|
|
375 |
|
|
|
312 |
|
|
|
|
(15 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
|
(6,335 |
) |
|
|
(8,130 |
) |
|
|
(6,543 |
) |
|
|
(11,735 |
) |
Basic and diluted net loss per share of common stock |
|
$ |
(0.22 |
) |
|
$ |
(0.27 |
) |
|
$ |
(0.20 |
) |
|
$ |
(0.34 |
) |
(1) |
Fluctuations in 2012 primarily relate to (losses) gains on the revaluation of the contingent warrant liabilities. |
(2) |
Revenue in the first three quarters of 2011 includes the recognition of $14.9 million of the non-recurring license fee received as consideration for the collaboration with Servier entered into in December 2010. |
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