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Quarterly Financial Data | 12 Months Ended
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Jun. 30, 2012
Quarterly Financial Data |
16. | Quarterly Financial Data (unaudited)
The following table summarizes the quarterly results of operations for the years ended June 30, 2012 and 2011:
|  | Fiscal Year 2012 |
|  | First Quarter Ended September 30, 2011 (1) |  |  | Second Quarter Ended December 31, 2011 (2) |  |  | Third Quarter Ended March 31, 2012 |  |  | Fourth Quarter Ended June 30, 2012 |  |  | Year Ended June 30, 2012 (1, 2) |
Total revenues |  | $ | 1,659 |  |  | $ | 630 |  |  | $ | 538 |  |  | $ | 699 |  |  | $ | 3,526 |
Operating loss |  |  | (2,531 | ) |  |  | (17,643 | ) |  |  | (2,727 | ) |  |  | (2,310 | ) |  |  | (25,211 | )
Net loss |  |  | (2,427 | ) |  |  | (17,460 | ) |  |  | (2,686 | ) |  |  | (2,262 | ) |  |  | (24,835 | )
Net loss per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic and diluted |  | $ | (0.12 | ) |  | $ | (0.84 | ) |  | $ | (0.13 | ) |  | $ | (0.11 | ) |  | $ | (1.19 | )
Weighted average common shares: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic and diluted |  |  | 20,757 |  |  |  | 20,803 |  |  |  | 20,803 |  |  |  | 20,803 |  |  |  | 20,791 |
|  | Fiscal Year 2011 |
|  | First Quarter Ended September 30, 2010 |  |  | Second Quarter Ended December 31, 2010 |  |  | Third Quarter Ended March 31, 2011 |  |  | Fourth Quarter Ended June 30, 2011 (3) |  |  | Year Ended June 30, 2011 (3) |
Total revenues |  | $ | 476 |  |  | $ | 414 |  |  | $ | 360 |  |  | $ | 3,715 |  |  | $ | 4,965 |
Operating loss |  |  | (3,435 | ) |  |  | (3,121 | ) |  |  | (3,139 | ) |  |  | (308 | ) |  |  | (10,003 | )
Net loss |  |  | (3,108 | ) |  |  | (2,695 | ) |  |  | (2,685 | ) |  |  | (140 | ) |  |  | (8,628 | )
Net loss per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic and diluted |  | $ | (0.17 | ) |  | $ | (0.15 | ) |  | $ | (0.13 | ) |  | $ | (0.01 | ) |  | $ | (0.44 | )
Weighted average common shares: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic and diluted |  |  | 18,531 |  |  |  | 18,531 |  |  |  | 20,177 |  |  |  | 20,745 |  |  |  | 19,489 |
(1) | Results for the first quarter of fiscal 2012 included $1.1 million of revenue related to the termination of a field-of-use license by Intrinsiq (see Note 3)
(2) | Results for the second quarter of fiscal 2012 included a $14.8 million impairment write-down of finite-lived intangible assets (see Note 4).
(3) | Results for the fourth quarter of fiscal 2011 included $3.3 million of revenue related to a material modification of the Pfizer collaborative research and license agreement in June 2011 (see Note 3).

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=20225539&loc=d3e1280-108306 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 30 -Subparagraph a-j -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 23, 24 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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