Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended 9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Revenues:        
License and collaborative fees $ 4,859 $ 1,410 $ 16,725 $ 1,749
Contract and other revenue 11,349 5,733 31,477 18,025
Royalties 21 3,754 147 4,267
Total revenues 16,229 10,897 48,349 24,041
Operating expenses:        
Research and development 15,851 21,345 51,479 58,278
Selling, general and administrative 7,296 6,197 18,779 16,776
Total operating expenses 23,147 27,542 70,258 75,054
Loss from operations (6,918) (16,645) (21,909) (51,013)
Other income (expense):        
Interest expense (652) (104) (1,818) (281)
Other income (expense) 1,027 3,117 2,734 313
Net loss before taxes (6,543) (13,632) (20,993) (50,981)
Provision for income tax expense 0 (1) (15) (17)
Net loss $ (6,543) $ (13,633) $ (21,008) $ (50,998)
Basic and diluted net loss per common share $ (0.20) $ (0.69) $ (0.69) $ (2.87)
Shares used in computing basic and diluted net loss per common share 32,761 19,802 30,623 17,742