Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Operations and Comprehensive Loss (unaudited)

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Condensed Statements of Operations and Comprehensive Loss (unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Revenues:        
Royalty revenue $ 1,228 $ 973 $ 3,816 $ 2,291
Grant revenue    39 42 364
Total revenue 1,228 1,012 3,858 2,655
Operating expenses:        
Research and development 2,995 2,230 8,037 9,915
General and administrative 890 739 3,750 2,480
Total operating expenses 3,885 2,969 11,787 12,395
Loss from operations (2,657) (1,957) (7,929) (9,740)
Other income (expense):        
Interest expense, net (1,634) (1,194) (5,095) (3,238)
Other expense, net (49) (43) (143) (87)
Non-cash gain (loss) on changes in the fair value of warrants (3,673) 2,390 (1,734) 760
Other income (expense), net (5,356) 1,153 (6,972) (2,565)
Net loss and comprehensive loss $ (8,013) $ (804) $ (14,901) $ (12,305)
Basic and diluted net loss per common share $ (0.12) $ (0.01) $ (0.23) $ (0.21)
Weighted average shares used in computing basic and diluted net loss per common share 66,839 59,386 63,748 59,290