Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Revenues:      
License and collaborative fees $ 17,991 $ 2,182 $ 43,822
Contract and other revenue 40,037 27,174 25,492
Royalties 168 4,285 29,116
Total revenues 58,196 33,641 98,430
Operating expenses:      
Research and development 68,137 77,413 58,131
Selling, general and administrative 24,014 23,250 23,736
Restructuring 0 82 3,603
Total operating expenses 92,151 100,745 85,470
(Loss) income from operations (33,955) (67,104) 12,960
Other income (expense):      
Interest (expense) (2,462) (385) (4,888)
Loss on debt extinguishment 0 0 (3,645)
Other income (expense) 3,689 (1,240) 1,850
Net (loss) income before taxes (32,728) (68,729) 6,277
Income tax expense (15) (27) (5,727)
Net (loss) income $ (32,743) $ (68,756) $ 550
Basic and diluted net (loss) income per share of common stock (in dollars per share) $ (1.04) $ (3.69) $ 0.05
Shares used in computing basic net (loss) income per share of common stock (in shares) 31,590 18,613 10,993
Shares used in computing diluted net (loss) income per share of common stock (in shares) 31,590 18,613 11,313