Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

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CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues:        
License revenue $ 911 $ 2,198 $ 2,734 $ 8,146
Royalty revenue 0 0 0 1,424
Total revenue 911 2,198 2,734 9,570
Operating expenses:        
Research and development 782 1,679 2,480 7,380
General and administrative 867 647 2,476 2,439
Total operating expenses 1,649 2,326 4,956 9,819
Loss from operations (738) (128) (2,222) (249)
Other income (expense):        
Interest expense, net 0 0 0 (1,568)
Other income (expense), net (7) (7) (21) 10,431
Non-cash gain (loss) on changes in the fair value of warrants 1,461 (1,010) 313 1,306
Other income (expense), net 1,454 (1,017) 292 10,169
Net income (loss) and comprehensive income (loss) $ 716 $ (1,145) $ (1,930) $ 9,920
Basic net income (loss) per common share (in dollars per share) $ 0.01 $ (0.01) $ (0.02) $ 0.12
Diluted net income (loss) per common share (in dollars per share) $ (0.01) $ 0.00 $ (0.03) $ 0.11
Weighted average shares used in computing basic net income (loss) per common share 88,998 82,544 88,975 81,125
Weighted average shares used in computing diluted net income (loss) per common share (in shares) 89,368 82,544 89,284 81,832