Annual report pursuant to Section 13 and 15(d)

Quarterly Financial Information (unaudited)

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Quarterly Financial Information (unaudited)
12 Months Ended
Dec. 31, 2013
Quarterly Financial Information (unaudited) [Abstract]  
Quarterly Financial Information (unaudited)
13.
Quarterly Financial Information (unaudited)

The following is a summary of the quarterly results of operations for the years ended December 31, 2013 and 2012:

   
Consolidated Statements of Operations
 
   
Quarter Ended
 
   
March 31
   
June 30
   
September 30
   
December 31
 
   
(In thousands, except per share amounts)
 
2013
                       
Total revenues
  $ 9,453     $ 7,151     $ 6,312     $ 12,535  
Total operating costs and expenses
    (20,777 )     (21,230 )     (23,535 )     (28,114 )
Other (expense) income, net (1)
    (13,563 )     (3,169 )     (12,416 )     (36,719 )
Income tax benefit
    -       -       15       (1 )
Net (loss) income
  $ (24,887 )   $ (17,248 )   $ (29,624 )   $ (52,299 )
Basic and diluted net (loss) income per share of common stock
  $ (0.30 )   $ (0.21 )   $ (0.34 )   $ (0.55 )
                                 
2012
                               
Total revenues
  $ 9,865     $ 9,275     $ 7,251     $ 7,391  
Total operating costs and expenses
    (24,227 )     (22,765 )     (23,404 )     (20,010 )
Other income (expense), net (1)
    (16,063 )     (2,665 )     (10,772 )     14,985  
Income tax expense
    -       -       74       -  
Net loss
  $ (30,425 )   $ (16,155 )   $ (26,851 )   $ 2,366  
Basic and diluted net loss per share of common stock
  $ (0.69 )   $ (0.24 )   $ (0.39 )   $ 0.03  

(1)
Fluctuations in 2013 and 2012 primarily relate to (losses) gains on the revaluation of the contingent warrant liabilities.