<SEC-DOCUMENT>0001206774-11-001781.txt : 20110805
<SEC-HEADER>0001206774-11-001781.hdr.sgml : 20110805
<ACCEPTANCE-DATETIME>20110805164548
ACCESSION NUMBER:		0001206774-11-001781
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		11
CONFORMED PERIOD OF REPORT:	20110630
FILED AS OF DATE:		20110805
DATE AS OF CHANGE:		20110805

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GERON CORP
		CENTRAL INDEX KEY:			0000886744
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				752287752
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-20859
		FILM NUMBER:		111014755

	BUSINESS ADDRESS:	
		STREET 1:		230 CONSTITUTION DRIVE
		CITY:			MENLO PARK
		STATE:			CA
		ZIP:			94025
		BUSINESS PHONE:		6504737700

	MAIL ADDRESS:	
		STREET 1:		200 CONSTITUTION DRIVE
		CITY:			MENLO PARK
		STATE:			CA
		ZIP:			94025

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GERON CORPORATION
		DATE OF NAME CHANGE:	19960521
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-Q
<SEQUENCE>1
<FILENAME>geron_10q.htm
<DESCRIPTION>QUARTERLY REPORT
<TEXT>
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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="4" style="FONT-FAMILY: Times New Roman">UNITED STATES<br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="4" style="FONT-FAMILY: Times New Roman">SECURITIES AND EXCHANGE COMMISSION<br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">WASHINGTON D.C. 20549<br>
______________<br>
<br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="4" style="FONT-FAMILY: Times New Roman">FORM 10-Q <br>
<font size="2" style="FONT-FAMILY: Times New Roman">______________</font></font></font></div>

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<table border="0" cellpadding="0" cellspacing="0" width="98%" style="LINE-HEIGHT: 13pt; BORDER-COLLAPSE: collapse; ">
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<td align="left" colspan="3" nowrap width="100%"><font size="2" style="FONT-FAMILY: times new roman">(Mark One)</font></td>
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<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: wingdings">x</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="98%"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</font></font></td>
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<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;&#160;&#160;&#160;&#160; </td>
<td align="left" nowrap width="98%"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">&#160;</font></font></td>
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<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td nowrap width="98%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">For the quarterly period ended&#160;June 30, 2011</font></font></td>
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<td nowrap width="98%" style="TEXT-ALIGN: center">&#160;</td>
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<td align="left" nowrap width="1%">&#160;</td>
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<td nowrap width="98%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">OR</font></font></td>
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<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="98%">&#160;</td>
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<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: wingdings">o</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="98%"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</font></font></td>
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<br>
<table border="0" cellpadding="0" cellspacing="0" width="98%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
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<td nowrap width="99%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">For the transition period from</font></font> <font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">_____ <font style="FONT-FAMILY: times new roman">to _____.</font></font></font></td>
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<td width="99%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Commission File Number: 0-20859</font></font></td>
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<td width="99%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">______________<br>
&#160;</font></font></td>
</tr><tr valign="bottom">
<td width="99%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="4" style="FONT-FAMILY: times new roman">GERON CORPORATION</font></font></td>
</tr><tr valign="bottom">
<td nowrap width="99%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: times new roman">(Exact name of registrant as specified in its charter)</font></font></td>
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<br>
<table border="0" cellpadding="0" cellspacing="0" width="98%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
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<td nowrap width="59%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">DELAWARE</font></font></td>
<td nowrap width="40%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">75-2287752</font></font></td>
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<td nowrap width="59%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: times new roman">(State or other jurisdiction of</font></font></td>
<td nowrap width="40%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: times new roman">(I.R.S. Employer</font></font></td>
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<td nowrap width="59%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: times new roman">incorporation or organization)</font></font></td>
<td nowrap width="40%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: times new roman">Identification No.)</font></font></td>
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<td nowrap width="59%" style="TEXT-ALIGN: center">&#160; </td>
<td nowrap width="40%" style="TEXT-ALIGN: center">&#160;</td>
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<td nowrap width="59%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">230 CONSTITUTION DRIVE, MENLO PARK, CA</font></font></td>
<td nowrap width="40%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">94025</font></font></td>
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<td nowrap width="59%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: times new roman">(Address of principal executive offices)</font></font></td>
<td nowrap width="40%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: times new roman">(Zip Code)</font></font></td>
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<br>
<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">(650) 473-7700<br>
</font></font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">(Registrant&#8217;s telephone number, including area code)</font></font></div>

<div>&#160;</div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">N/A<br>
</font></font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">(Former name, former address and former fiscal year, if changed since last report)</font></font></div>

<div>&#160;</div>

<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes&#160;<font face="Wingdings">x</font> </font><font size="2" style="FONT-FAMILY: Times New Roman">No&#160;</font><font size="2" face="Wingdings">o</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Indicate by check mark whether the registrant has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (&#167;232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes&#160;<font face="Wingdings">x</font> <font size="2" style="FONT-FAMILY: Times New Roman">No&#160;</font><font size="2" face="Wingdings">o</font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; and &#8220;smaller reporting company&#8221; in Rule 12b-2 of the Exchange Act.</font></div>

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<div align="center">
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<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="43%"><font size="2" style="FONT-FAMILY: times new roman">Large accelerated filer</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: wingdings">o</font></td>
<td align="left" nowrap width="2%">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </td>
<td align="left" nowrap width="42%"><font size="2" style="FONT-FAMILY: times new roman">Accelerated filer</font></td>
<td align="left" nowrap width="10%"><font size="2" style="FONT-FAMILY: wingdings">x<font size="3">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font></td>
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<td align="left" nowrap width="1%"><font style="FONT-FAMILY: times new roman">&#160;&#160;&#160;</font></td>
<td align="left" nowrap width="43%"><font size="2" style="FONT-FAMILY: times new roman">Non-accelerated filer</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: wingdings">o</font></td>
<td align="left" nowrap width="2%">&#160;</td>
<td align="left" nowrap width="42%"><font size="2" style="FONT-FAMILY: times new roman">Smaller reporting company</font></td>
<td align="left" nowrap width="10%"><font size="2" style="FONT-FAMILY: wingdings">o</font></td>
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<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">&#160;</font></td>
<td align="left" nowrap width="43%"><font size="2" style="FONT-FAMILY: times new roman">(Do not check if a smaller reporting company)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="2%">&#160;</td>
<td align="left" nowrap width="42%">&#160;</td>
<td align="left" nowrap width="10%">&#160;</td>
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<br>
<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes&#160;<font face="Wingdings">o</font> <font size="2" style="FONT-FAMILY: Times New Roman">No&#160;</font><font size="2" face="Wingdings">x</font></font><font size="2" style="FONT-FAMILY: Times New Roman"> </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Indicate the number of shares outstanding of each of the issuer&#8217;s classes of common stock, as of the latest practicable date.</font><font style="FONT-FAMILY: Times New Roman"> </font></div>

<div>&#160;</div>

<table border="0" cellpadding="0" cellspacing="0" width="98%" style="LINE-HEIGHT: 13pt; BORDER-COLLAPSE: collapse; ">
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<td nowrap width="49%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Class:</font></td>
<td nowrap width="50%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Outstanding at&#160;July 25, 2011:</font></td>
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<td nowrap width="49%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Common Stock, $0.001 par value</font></td>
<td nowrap width="50%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">131,426,017&#160;shares</font></td>
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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a name="toc" href="#toc">Table of Contents</a></font></font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">GERON CORPORATION<br>
INDEX </font></font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
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<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
<td align="left" nowrap width="94%">&#160;</td>
<td nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Page</font></font></td>
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<td colspan="4" width="100%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">PART I. FINANCIAL INFORMATION</font></font></td>
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<td align="left" nowrap width="2%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="94%">&#160;</td>
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<td align="left" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#1">Item 1:</a></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="94%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#1">Condensed Consolidated Financial Statements</a></font></td>
<td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">1</font></td>
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<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="94%">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
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<td align="left" nowrap width="2%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="94%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#2">Condensed Consolidated Balance Sheets as of June 30, 2011 and December 31, 2010</a></font></td>
<td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">1</font></td>
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<td align="left" nowrap width="2%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="94%">&#160; </td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
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<td align="left" nowrap width="2%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="94%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#3">Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2011 and 2010</a></font></td>
<td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">2</font></td>
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<td align="left" nowrap width="2%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="94%">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
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<td align="left" nowrap width="2%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="94%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#4">Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2011 and 2010</a></font></td>
<td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">3</font></td>
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<td align="left" nowrap width="2%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="94%">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
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<td align="left" nowrap width="2%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="94%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#5">Notes to Condensed Consolidated Financial Statements</a></font></td>
<td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">4</font></td>
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<td align="left" nowrap width="2%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="94%">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#6">Item 2:</a></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="94%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#6">Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations</a></font></td>
<td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">17</font></td>
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<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="94%">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
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<td align="left" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#7">Item 3:</a></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="94%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#7">Quantitative and Qualitative Disclosures About Market Risk</a></font></td>
<td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">23</font></td>
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<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="94%">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
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<td align="left" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#8">Item 4:</a></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="94%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#8">Controls and Procedures</a></font></td>
<td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">24</font></td>
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<td colspan="4" width="100%">&#160;</td>
</tr><tr valign="bottom">
<td colspan="4" width="100%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">PART II. OTHER INFORMATION</font></font></td>
</tr><tr>
<td colspan="4" width="100%" style="TEXT-ALIGN: center">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#9">Item 1:</a></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="94%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#9">Legal Proceedings</a></font></td>
<td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">24</font></td>
</tr><tr>
<td align="left" nowrap width="2%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="94%">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#10">Item 1A:</a></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="94%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#10">Risk Factors</a></font></td>
<td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">24</font></td>
</tr><tr>
<td align="left" nowrap width="2%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="94%">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#11">Item 2:</a></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="94%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#11">Unregistered Sales of Equity Securities and Use of Proceeds</a></font></td>
<td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">40</font></td>
</tr><tr>
<td align="left" nowrap width="2%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="94%">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#12">Item 3:</a></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="94%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#12">Defaults Upon Senior Securities</a></font></td>
<td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">40</font></td>
</tr><tr>
<td align="left" nowrap width="2%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="94%">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#13">Item 4:</a></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="94%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#13">(Removed and Reserved)</a></font></td>
<td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">40</font></td>
</tr><tr>
<td align="left" nowrap width="2%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="94%">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#14">Item 5:</a></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="94%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#14">Other Information</a></font></td>
<td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">40</font></td>
</tr><tr>
<td align="left" nowrap width="2%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="94%">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#15">Item 6:</a></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="94%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#15">Exhibits</a></font></td>
<td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">41</font></td>
</tr><tr>
<td align="left" nowrap width="2%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="94%">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="2%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="94%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman"><a href="#16">SIGNATURE</a></font></td>
<td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">41</font></td>
</tr></table>
</div>

<br>
<hr align="center" noshade size="2" width="100%">
<div id="PGBRK">
<div id="PN" style="PAGE-BREAK-BEFORE: always">&#160;</div>
</div>

<br>
<div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a href="#toc">Table of Contents</a></font></font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">PART I. FINANCIAL INFORMATION </font></font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a name="1">ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</a> </font></font></div>

<div>&#160;</div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">GERON CORPORATION </font></font></div>

<div>&#160;</div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a name="2">CONDENSED CONSOLIDATED BALANCE SHEETS</a><br>
(IN THOUSANDS) </font></font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="89%">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">JUNE 30,</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">DECEMBER 31,</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%">&#160;</td>
<td colspan="3" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">2011</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">2010</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">(UNAUDITED)</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td nowrap width="89%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">ASSETS</font></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">Current assets:</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Cash and cash equivalents</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">32,019</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">45,972</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Restricted cash</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">793</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">792</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Current portion of marketable securities</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">119,756</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">140,599</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Interest and other receivables</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">1,630</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">1,799</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Current portion of prepaid assets</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">2,996</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">5,855</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Total current assets</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">157,194</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">195,017</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Noncurrent portion of marketable securities</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">39,592</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">33,911</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">Noncurrent portion of prepaid assets</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">108</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">854</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Investments in licensees</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">2</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">504</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">Property and equipment, net</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">2,514</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">3,088</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Deposits and other assets</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">920</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">210</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" style="PADDING-BOTTOM: 2pt">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: black 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: black 2pt double"><font size="2" style="FONT-FAMILY: times new roman">200,330</font></td>
<td align="left" nowrap width="1%" style="PADDING-BOTTOM: 2pt">&#160;</td>
<td align="left" nowrap width="1%" style="PADDING-BOTTOM: 2pt">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: black 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: black 2pt double"><font size="2" style="FONT-FAMILY: times new roman">233,584</font></td>
<td align="left" nowrap width="1%" style="PADDING-BOTTOM: 2pt">&#160;</td>
</tr><tr>
<td colspan="8" width="100%">&#160; </td>
</tr><tr valign="bottom">
<td nowrap width="89%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">LIABILITIES AND STOCKHOLDERS&#8217; EQUITY</font></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">Current liabilities:</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Accounts payable</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">3,471</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">3,462</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Accrued compensation</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">2,305</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">6,186</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Accrued liabilities</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">3,066</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">2,644</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Stock issuance obligation</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">27,500</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Deferred revenue</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">350</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Fair value of derivatives</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">428</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">707</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Total current liabilities</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">9,270</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">40,849</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">Commitments and contingencies</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Stockholders&#8217; equity:</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Common stock</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">131</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">123</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Additional paid-in capital</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">925,098</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">881,358</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Accumulated deficit</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(734,127</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(688,650</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Accumulated other comprehensive loss</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">(42</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">(96</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Total stockholders&#8217; equity</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">191,060</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">192,735</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">200,330</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">233,584</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr>
<td align="left" nowrap width="89%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
</tr></table>
</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">See accompanying notes. </font></div>

<div>&#160;</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">1</font></div>

<div>&#160;</div>

<hr align="center" noshade size="2" width="100%">
<div id="PGBRK">
<div id="PN" style="PAGE-BREAK-BEFORE: always">&#160;</div>
</div>

<br>
<div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a href="#toc">Table of Contents</a></font></font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">GERON CORPORATION</font></font><font size="2" style="FONT-FAMILY: Times New Roman"> </font></div>

<div>&#160;</div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a name="3">CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS</a><br>
(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)<br>
(UNAUDITED) </font></font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="77%">&#160;</td>
<td colspan="7" nowrap width="11%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">THREE MONTHS ENDED</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="7" nowrap width="11%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">SIX MONTHS ENDED</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="77%">&#160;</td>
<td colspan="7" nowrap width="11%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">JUNE 30,</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
<td colspan="7" nowrap width="11%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">JUNE 30,</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="77%">&#160;</td>
<td colspan="3" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">2011</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
<td colspan="3" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">2010</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">2011</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
<td colspan="3" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">2010</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="77%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Revenues from collaborative agreements</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">150</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">225</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">300</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160; </font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">450</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="77%"><font size="2" style="FONT-FAMILY: times new roman">License fees and royalties</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">312</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">776</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">1,667</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">1,469</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="77%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Total revenues</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">462</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">1,001</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">1,967</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">1,919</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr>
<td colspan="16" width="100%">&#160; </td>
</tr><tr valign="bottom">
<td align="left" nowrap width="77%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Operating expenses:</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="77%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Research and development (including amounts for</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="77%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; related parties: three months - 2011-none; 2010-</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="77%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; $317; six months &#8211; 2011-none; 2010-$644)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">16,544</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">13,389</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">33,299</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">26,934</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="77%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; General and administrative</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">5,334</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">4,488</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">14,440</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">8,338</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="77%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Total operating expenses</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">21,878</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">17,877</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">47,739</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">35,272</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="77%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Loss from operations</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(21,416</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(16,876</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(45,772</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(33,353</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="77%"><font size="2" style="FONT-FAMILY: times new roman">Unrealized gain on derivatives, net</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">240</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">172</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">279</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">230</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="77%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Interest and other income</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">287</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">194</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">583</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">396</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="77%"><font size="2" style="FONT-FAMILY: times new roman">Losses recognized under equity method investment</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(168</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(496</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(503</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(892</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="77%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Interest and other expense</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">(31</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">(25</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">(64</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">(52</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="77%"><font size="2" style="FONT-FAMILY: times new roman">Net loss</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">(21,088</font></td>
<td nowrap width="1%" style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="right" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">(17,031</font></td>
<td nowrap width="1%" style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">(45,477</font></td>
<td nowrap width="1%" style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="right" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">(33,671</font></td>
<td nowrap width="1%" style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr>
<td colspan="16" width="100%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="77%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Basic and diluted net loss per share</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">(0.17</font></td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="right" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">(0.18</font></td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">(0.37</font></td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="right" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">(0.35</font></td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr>
<td colspan="16" width="100%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="77%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Shares used in computing basic and diluted net loss</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="77%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; per share</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">124,579,190</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">96,712,059</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">123,838,959</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">95,862,080</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr>
<td align="left" nowrap width="77%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
</tr></table>
</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">See accompanying notes.</font></div>

<div>&#160;</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">2</font></div>

<div>&#160;</div>

<hr align="center" noshade size="2" width="100%">
<div id="PGBRK">
<div id="PN" style="PAGE-BREAK-BEFORE: always">&#160;</div>
</div>

<br>
<div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a href="#toc">Table of Contents</a><br>
</font></font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">GERON CORPORATION </font></font></div>

<div>&#160;</div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a name="4">CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS</a><br>
CHANGE IN CASH AND CASH EQUIVALENTS <br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">(IN THOUSANDS)<br>
(UNAUDITED) </font></font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="89%">&#160;</td>
<td colspan="7" nowrap width="11%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">SIX MONTHS ENDED</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%">&#160;</td>
<td colspan="7" nowrap width="11%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">JUNE 30,</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%">&#160;</td>
<td colspan="3" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">2011</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
<td colspan="3" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">2010</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Cash flows from operating activities:</font></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">Net loss</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(45,477</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160; </font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(33,671</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Adjustments to reconcile net loss to net cash used in operating activities:</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Depreciation and amortization</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">834</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">804</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Accretion and amortization on investments, net</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">2,431</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">1,814</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Loss on retirement/sale of property and equipment</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">53</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Issuance of common stock for acquired in-process research and development</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">594</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Issuance of common stock in exchange for services by non-employees</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">396</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">2,193</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Stock-based compensation for employees and directors</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">10,166</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">6,120</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Amortization related to 401(k) contributions</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">452</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">352</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Loss on investments in licensees</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">503</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">892</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Unrealized gain on fair value of derivatives</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(279</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(230</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Changes in assets and liabilities:</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Other current and noncurrent assets</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">3,245</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">2,203</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Other current and noncurrent liabilities</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">371</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">302</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">Translation adjustment</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">12</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">(3</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Net cash used in operating activities</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(26,752</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(19,171</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr>
<td colspan="8" width="100%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Cash flows from investing activities:</font></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">Restricted cash transfer</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(1</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(1</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Purchases of property and equipment</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(260</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(420</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">Proceeds from sale of property and equipment</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">2</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Purchases of marketable securities</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(70,765</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(58,826</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">Proceeds from maturities of marketable securities</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">83,537</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">70,940</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Net cash provided by investing activities</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">12,511</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">11,695</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr>
<td colspan="8" width="100%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Cash flows from financing activities:</font></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">Proceeds from issuances of common stock and warrants, net of issuance costs</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">288</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">10,190</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Net cash provided by financing activities</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">288</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">10,190</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">Net (decrease) increase in cash and cash equivalents</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(13,953</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">2,714</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom" bgcolor="silver">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">Cash and cash equivalents at the beginning of the period</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">45,972</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">34,601</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom" bgcolor="white">
<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">Cash and cash equivalents at the end of the period</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">32,019</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">37,315</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr bgcolor="white">
<td align="left" nowrap width="89%">&#160;&#160; </td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
</tr></table>
</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">See accompanying notes. </font></div>

<div>&#160;</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">3</font></div>

<div>&#160;</div>

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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">GERON CORPORATION <br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a name="5">NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</a><br>
JUNE 30, 2011<br>
(UNAUDITED) </font></font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</font></font><font size="2" style="FONT-FAMILY: Times New Roman"> </font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Basis of Presentation</font></font><font size="2" style="FONT-FAMILY: Times New Roman"> </font></div>

<div>&#160;</div>

<div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: Times New Roman">The terms &#8220;Geron&#8221;, the &#8220;Company&#8221;, &#8220;we&#8221; and &#8220;us&#8221; as used in this report refer to Geron Corporation. The accompanying unaudited condensed consolidated balance sheet as of June 30, 2011 and unaudited condensed consolidated statements of operations for the three and six months ended June 30, 2011 and 2010 have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management of Geron, all adjustments (consisting only of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and six month periods ended June 30, 2011 are not necessarily indicative of the results that may be expected for the year ending December 31, 2011 or any other period. These financial statements and notes should be read in conjunction with the financial statements for each of the three years ended December 31, 2010, included in the Company&#8217;s Annual Report on Form 10-K. The accompanying condensed consolidated balance sheet as of December 31, 2010 has been derived from audited financial statements at that date. </font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Principles of Consolidation</font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>The condensed consolidated financial statements include the accounts of Geron, our wholly-owned subsidiary, Geron Bio-Med Ltd. (Geron Bio-Med), a United Kingdom company, and our majority-owned subsidiary, TA Therapeutics, Ltd. (TAT), a Hong Kong company. We have eliminated intercompany accounts and transactions. We prepare the financial statements of Geron Bio-Med using the local currency as the functional currency. We translate the assets and liabilities of Geron Bio-Med at rates of exchange at the balance sheet date and translate income and expense items at average monthly rates of exchange. The resultant translation adjustments are included in accumulated other comprehensive income (loss), a separate component of stockholders&#8217; equity. The functional currency for TAT is U.S. dollars. In July 2010, the board of directors and shareholders of TAT approved actions to commence a voluntary winding up of the company. The full wind up of TAT was completed in March 2011. </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>We evaluate whether significant transactions require consideration of the variable interest consolidation model. For those entities in which we have a variable interest, we consider whether we are the primary beneficiary. Variable interest entities (VIEs) for which we are the primary beneficiary are required to be consolidated. We currently are not the primary beneficiary of any VIE. See Note 3 on Equity Method Investment.</font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Net Loss Per Share </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>Basic earnings (loss) per share is calculated based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share is calculated based on the weighted average number of shares of common stock and dilutive securities outstanding during the period. Potential dilutive securities primarily consist of outstanding employee stock options, restricted stock and warrants to purchase common stock and are determined using the treasury stock method at an average market price during the period.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>Because we are in a net loss position, diluted earnings (loss) per share excludes the effects of potential dilutive securities. Had we been in a net income position, diluted earnings per share would have included the shares used in the computation of basic net loss per share as well as an additional 995,044 and 1,182,957 shares for 2011 and 2010, respectively, related to outstanding options, restricted stock and warrants (as determined using the treasury stock method at the estimated average market value).</font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Use of Estimates</font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. On a regular basis, management evaluates these estimates and assumptions. Actual results could differ from those estimates.</font></div>

<div>&#160;</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">4</font></div>

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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">GERON CORPORATION <br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br>
JUNE 30, 2011<br>
(UNAUDITED) </font></font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Fair Value of Financial Instruments</font></font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Cash Equivalents and Marketable Securities </font></font></font></div>

<div>&#160;</div>

<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents. We are subject to credit risk related to our cash equivalents and marketable securities. We currently place our cash and cash equivalents in money market funds and municipal securities. Our investments include U.S. government-sponsored enterprise securities, certificates of deposit, commercial paper and corporate notes with original maturities ranging from six to 24 months.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>We classify our marketable securities as available-for-sale. We record available-for-sale securities at fair value with unrealized gains and losses reported in accumulated other comprehensive income (loss) in stockholders&#8217; equity. Realized gains and losses are included in interest and other income and are derived using the specific identification method for determining the cost of securities sold and have been insignificant to date. Dividend and interest income are recognized when earned and included in interest and other income in our condensed consolidated statements of operations. We recognize a charge when the declines in the fair values below the amortized cost basis of our available-for-sale securities are judged to be other-than-temporary. We consider various factors in determining whether to recognize an other-than-temporary charge, including whether we intend to sell the security or whether it is more likely than not that we would be required to sell the security. Declines in market value associated with credit losses judged as other-than-temporary result in a charge to interest and other income. Other-than-temporary charges not related to credit losses are included in accumulated other comprehensive income (loss) in stockholders&#8217; equity. No other-than-temporary impairment charges were recorded for our available-for-sale securities for the three and six months ended June 30, 2011 and 2010. See Note 2 on Fair Value Measurements.</font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Marketable and Non-Marketable Investments in Licensees </font></font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Investments in non-marketable nonpublic companies, in which we own less than 20% of the outstanding voting stock and do not otherwise have the ability to exert significant influence over the investees, are carried at cost, as adjusted for other-than-temporary impairments. Investments in marketable equity securities are carried at fair value as of the balance sheet date with unrealized gains and losses reported in accumulated other comprehensive income (loss) in stockholders&#8217; equity. Realized gains or losses are included in interest and other income and are derived using the specific identification method. </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>We apply the equity method of accounting for investments in licensees in which we own more than 20% of the outstanding voting stock or otherwise have the ability to exert significant influence over the investees, but are not the primary beneficiary. Under this method, we increase (decrease) the carrying value of our investment by a proportionate share of the investee&#8217;s earnings (losses). If losses exceed the carrying value of the investment, losses are then applied against any advances to the investee, including any commitment to provide financial support, until those amounts are reduced to zero. Commitments include formal guarantees, implicit arrangements, reputational expectations, intercompany relationships or a consistent past history of providing financial support. The equity method is then suspended until the investee has earnings. Any proportionate share of investee earnings is first applied to the share of accumulated losses not recognized during the period the equity method was suspended. We recognize previously suspended losses to the extent additional investment is determined to represent the funding of prior losses.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>We monitor our investments in licensees for impairment on a quarterly basis and make appropriate reductions in carrying values when such impairments are determined to be other-than-temporary. Other-than-temporary charges are included in interest and other income. Factors used in determining whether an other-than-temporary charge should be recognized include, but are not limited to: the current business environment including competition and uncertainty of financial condition; going concern considerations such as the rate at which the investee company utilizes cash, and the investee company&#8217;s ability to obtain additional private financing to fulfill its stated business plan; the need for changes to the investee company&#8217;s existing business model due to changing business environments and its ability to successfully implement necessary changes; and the general progress toward product development, including clinical trial results. See Note 2 on Fair Value Measurements.</font></div>

<div>&#160;</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">5</font></div>

<div>&#160;</div>

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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">GERON CORPORATION<br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br>
JUNE 30, 2011<br>
(UNAUDITED) </font></font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Fair Value of Derivatives</font></font></font></div>

<div>&#160;</div>

<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">For warrants and non-employee options classified as assets or liabilities, the fair value of these instruments is recorded on the condensed consolidated balance sheet at inception of such classification and adjusted to fair value at each financial reporting date. The change in fair value of the warrants and non-employee options is recorded in the condensed consolidated statements of operations as unrealized gain (loss) on derivatives. Fair value of warrants and non-employee options is estimated using the Black Scholes option-pricing model. The warrants and non-employee options continue to be reported as an asset or liability until such time as the instruments are exercised or expire or are otherwise modified to remove the provisions which require this treatment, at which time these instruments are marked to fair value and reclassified from assets or liabilities to stockholders&#8217; equity. For warrants and non-employee options classified as permanent equity, the fair value of the warrants and non-employee options is recorded in stockholders&#8217; equity as of their respective vesting dates and no further adjustments are made. See Note 2 on Fair Value Measurements.</font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Revenue Recognition </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>We have several license agreements with various oncology, diagnostics, research tools, agriculture and biologics production companies. With certain of these agreements, we receive nonrefundable license payments in cash or equity securities, option payments in cash or equity securities, royalties on future sales of products, milestone payments, or any combination of these items. Upfront nonrefundable signing, license or non-exclusive option fees are recognized as revenue when rights to use the intellectual property related to the license have been delivered and over the term of the agreement if we have continuing performance obligations. Milestone payments, which are subject to substantive contingencies, are recognized upon completion of specified milestones, representing the culmination of the earnings process, according to contract terms. Royalties are generally recognized upon receipt of the related royalty payment. Deferred revenue represents the portion of research and license payments received which has not been earned. When payments are received in equity securities, we do not recognize any revenue unless such securities are determined to be realizable in cash.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>We recognize revenue under collaborative agreements as the related research and development costs for services are rendered. We recognize related party revenue under collaborative agreements as the related research and development costs for services are rendered and when the source of funds have not been derived from our contributions to the related party.</font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Restricted Cash </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>The components of restricted cash are as follows: </font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="88%">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">June 30,</font></font></td>
<td nowrap width="4%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">December 31,</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="88%">&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2011</font></font></td>
<td nowrap width="4%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2010</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="88%">&#160;</td>
<td colspan="5" nowrap width="12%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">(In thousands)</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="88%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Certificate of deposit for unused equipment line of credit</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">530</font></td>
<td align="left" nowrap width="4%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">530</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="88%"><font size="2" style="FONT-FAMILY: times new roman">Certificate of deposit for credit card purchases</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">263</font></td>
<td align="left" nowrap width="4%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">262</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="88%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">793</font></td>
<td align="left" nowrap width="4%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">792</font></td>
</tr><tr>
<td align="left" nowrap width="88%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="4%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
</tr></table>
</div>

<br>
<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Research and Development Expenses </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>All research and development costs are expensed as incurred. The value of acquired in-process research and development is charged to research and development expense on the date of acquisition, if not acquired in connection with a business combination. Research and development expenses include, but are not limited to, acquired in-process research and development deemed to have no alternative future use, payroll and personnel expense, lab supplies, preclinical studies, clinical trials, raw materials to manufacture clinical trial drugs, manufacturing costs for research and clinical trial materials, sponsored research at other labs, consulting, costs to maintain technology licenses and research-related overhead.</font></div>

<div>&#160;</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">6</font></div>

<div>&#160;</div>

<hr align="center" noshade size="2" width="100%">
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<br>
<div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a href="#toc">Table of Contents</a></font></font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">GERON CORPORATION<br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</font></font><br>
<font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">JUNE 30, 2011</font></font><br>
<font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">(UNAUDITED)</font></font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Depreciation and Amortization </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>We record property and equipment at cost and calculate depreciation using the straight-line method over the estimated useful lives of the assets, generally four years. Leasehold improvements are amortized over the shorter of the estimated useful life or remaining term of the lease.</font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Stock-Based Compensation</font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>We recognize compensation expense on a straight-line basis over the requisite service period, which is generally the vesting period. The following table summarizes the stock-based compensation expense related to stock options, restricted stock awards and employee stock purchases for the three and six months ended June 30, 2011 and 2010, which was allocated as follows:</font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="80%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="5" nowrap width="9%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Three Months Ended</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="5" nowrap width="9%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Six Months Ended</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="5" nowrap width="9%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">June 30,</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="5" nowrap width="9%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">June 30,</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2011</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2010</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2011</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2010</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td colspan="11" nowrap width="19%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">(In thousands)</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Research and development</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">1,604</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">1,096</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">3,264</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">2,743</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%"><font size="2" style="FONT-FAMILY: times new roman">General and administrative</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">2,243</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">1,955</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">6,902</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">3,377</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Stock-based compensation expense included in</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;operating expenses</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">3,847</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">3,051</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">10,166</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">6,120</font></td>
</tr><tr>
<td align="left" nowrap width="80%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
</tr></table>
</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>In February 2011, we and Thomas B. Okarma, Ph.D., M.D. entered into a separation agreement that provided for, among other things, the modification of the vesting and exercise periods of certain outstanding restricted stock awards and stock options held by Dr. Okarma. Non-cash stock-based compensation expense of approximately $3,472,000 has been included in general and administrative expense for the modifications.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>As stock-based compensation expense recognized in the condensed consolidated statements of operations for the three and six months ended June 30, 2011 and 2010 is based on awards ultimately expected to vest, it has been reduced for estimated forfeitures but, at a minimum, reflects the grant-date fair value of those awards that actually vested in the period. Forfeitures have been estimated at the time of grant based on historical experience and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. </font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Stock Options </font></font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>The fair value of options granted during the six months ended June 30, 2011 and 2010 has been estimated at the date of grant using the Black Scholes option-pricing model with the following assumptions:</font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="91%">&#160; </td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="7%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Six Months Ended June 30,</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="91%">&#160; </td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2011</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2010</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="91%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Dividend yield</font></td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">None</font></td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">None</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="91%"><font size="2" style="FONT-FAMILY: times new roman">Expected volatility range</font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">0.629 to 0.630</font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">0.627 to 0.629</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="91%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Risk-free interest rate range</font></td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">1.55% to 2.37%</font></td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">2.13% to 2.65%</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="91%"><font size="2" style="FONT-FAMILY: times new roman">Expected term</font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">5 yrs</font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">5 yrs</font></td>
</tr></table>
</div>

<br>
<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">7</font></div>

<div>&#160;</div>

<hr align="center" noshade size="2" width="100%">
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<br>
<div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a href="#toc">Table of Contents</a></font></font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">GERON CORPORATION<br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br>
JUNE 30, 2011<br>
(UNAUDITED)</font></font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Employee Stock Purchase Plan</font></font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>The fair value of employees&#8217; purchase rights during the six months ended June 30, 2011 and 2010 has been estimated using the Black Scholes option-pricing model with the following assumptions:</font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="91%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td colspan="3" nowrap width="7%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Six Months Ended June 30,</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="91%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2011</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2010</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="91%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Dividend yield</font></td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">None</font></td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">None</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="91%"><font size="2" style="FONT-FAMILY: times new roman">Expected volatility range</font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">0.529 to 0.584</font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">0.592 to 0.995</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="91%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Risk-free interest rate range</font></td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">0.19% to 0.32%</font></td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">0.18% to 0.54%</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="91%"><font size="2" style="FONT-FAMILY: times new roman">Expected term range</font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">6 - 12 mos</font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">6 - 12 mos</font></td>
</tr></table>
</div>

<br>
<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>Dividend yield is based on historical cash dividend payments and Geron has paid no dividends to date. The expected volatility range is based on historical volatilities of our stock since traded options on Geron stock do not correspond to option terms and the trading volume of options is limited. The risk-free interest rate range is based on the U.S. Zero Coupon Treasury Strip Yields for the expected term in effect on the date of grant for an award. The expected term of options is derived from actual historical exercise data and represents the period of time that options granted are expected to be outstanding. The expected term of employees&#8217; purchase rights is equal to the purchase period. We grant service-based options under our equity plans to employees, non-employee directors and consultants, for which the vesting period is generally four years.</font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Restricted Stock Awards</font></font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>We grant restricted stock awards to employees and non-employee directors with three types of vesting schedules: (i) service-based, (ii) performance-based or (iii) market-based. Service-based awards generally vest annually over four years. Performance-based awards vest only upon achievement of discrete strategic corporate goals within a specified performance period, generally three years. Market-based awards vest only upon achievement of certain market price thresholds of our common stock within a specified performance period, generally three years.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>The fair value for service-based restricted stock awards is determined using the fair value of our common stock on the date of grant. The fair value is amortized as compensation expense over the requisite service period of the award on a straight-line basis and is reduced for estimated forfeitures, as applicable.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>The fair value for performance-based restricted stock awards is determined using the fair value of our common stock on the date of grant. Compensation expense for awards with performance conditions is recognized over the period from the date the performance condition is determined to be probable of occurring through the date the applicable condition is expected to be met and is reduced for estimated forfeitures, as applicable. If the performance condition is not considered probable of being achieved, no expense is recognized until such time as the performance condition is considered probable of being met, if ever. If performance-based restricted stock awards are modified such that no continuing service is required for the award to vest and achievement of the performance condition is not considered probable on the date of modification, then no compensation cost is recognized until it becomes probable that the performance condition will be met. If that assessment of the probability of the performance condition being met changes, the impact of the change in estimate would be recognized in the period of the change. If the requisite service has been provided prior to the change in estimate, the effect of the change in estimate would be immediately recognized. We have not recognized any stock-based compensation expense for performance-based restricted stock awards in our condensed consolidated statement of operations for the three and six months ended June 30, 2011 and 2010 as the achievement of the specified performance criteria was not considered probable during that time. </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>The fair value for market-based restricted stock awards is determined using a lattice valuation model with a Monte Carlo simulation. The model takes into consideration the historical volatility of our stock and the risk-free interest rate at the date of grant. In addition, the model is used to estimate the derived service period for the awards. The derived service period is the estimated period of time that would be required to satisfy the market condition, assuming the market condition will be satisfied. Compensation expense is recognized over the derived service period for the awards using the straight-line method and is reduced for estimated forfeitures, as applicable, but is accelerated if the market condition is achieved earlier than estimated. The market conditions for the market-based restricted stock awards were not achieved as of June 30, 2011.</font></div>

<div>&#160;</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">8</font></div>

<div>&#160;</div>

<hr align="center" noshade size="2" width="100%">
<div id="PGBRK">
<div id="PN" style="PAGE-BREAK-BEFORE: always">&#160;</div>
</div>

<br>
<div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a href="#toc">Table of Contents</a></font></font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">GERON CORPORATION<br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</font></font><br>
<font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">JUNE 30, 2011</font></font><br>
<font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">(UNAUDITED)</font></font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Non-Employee Stock-Based Awards</font></font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>For our non-employee stock-based awards, the measurement date on which the fair value of the stock-based award is calculated is equal to the earlier of (i) the date at which a commitment for performance by the counterparty to earn the equity instrument is reached or (ii) the date at which the counterparty&#8217;s performance is complete. We recognize stock-based compensation expense for the fair value of the vested portion of non-employee awards in our condensed consolidated statements of operations. </font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Comprehensive Loss</font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>Comprehensive loss is comprised of net loss and other comprehensive income (loss). Other comprehensive income (loss) includes certain changes in stockholders&#8217; equity which are excluded from net loss. The activity in comprehensive loss during the three and six months ended June 30, 2011 and 2010 was as follows:</font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="76%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="7" nowrap width="11%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Three Months Ended</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="7" nowrap width="11%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Six Months Ended</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="76%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="7" nowrap width="11%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">June 30,</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="7" nowrap width="11%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">June 30,</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="76%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="3" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2011</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="3" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2010</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="3" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2011</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="3" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2010</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="76%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="15" nowrap width="23%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">(In thousands)</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="76%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Net loss</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(21,088</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(17,031</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(45,477</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(33,671</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="76%"><font size="2" style="FONT-FAMILY: times new roman">Change in net unrealized gain on available-for-sale</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="76%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;securities and marketable investments in licensees</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">97</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">5</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">42</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">138</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="76%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Change in foreign currency translation adjustments</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">12</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">(3</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="76%" style="BORDER-BOTTOM: #ffffff 2pt solid"><font size="2" style="FONT-FAMILY: times new roman">Comprehensive loss</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #ffffff 2pt solid">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">(20,991</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #ffffff 2pt solid"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #ffffff 2pt solid">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">(17,026</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #ffffff 2pt solid"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #ffffff 2pt solid">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">(45,423</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #ffffff 2pt solid"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #ffffff 2pt solid">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">(33,536</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #ffffff 2pt solid"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr>
<td align="left" nowrap width="76%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
</tr></table>
</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>The components of accumulated other comprehensive loss were as follows:</font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="88%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">June 30, 2011</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="3" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">December 31, 2010</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="88%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="7" nowrap width="11%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">(In thousands)</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="88%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Unrealized gain on available-for-sale securities and</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="88%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;marketable investments in licensees, net</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">114</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">72</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="88%"><font size="2" style="FONT-FAMILY: times new roman">Foreign currency translation adjustments</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">(156</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">(168</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom" bgcolor="silver">
<td align="left" nowrap width="88%" style="BORDER-BOTTOM: #c0c0c0 2pt solid"><font size="2" style="FONT-FAMILY: times new roman">Accumulated other comprehensive loss</font></td>
<td nowrap width="1%" style="BORDER-BOTTOM: silver 2pt solid; TEXT-ALIGN: left">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">(42</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #c0c0c0 2pt solid"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td nowrap width="1%" style="BORDER-BOTTOM: silver 2pt solid; TEXT-ALIGN: left">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">(96</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #c0c0c0 2pt solid"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr bgcolor="white">
<td align="left" nowrap width="88%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
</tr></table>
</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Recently Issued Accounting Standards </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>In May 2011, the Financial Accounting Standards Board (FASB) issued a new accounting standard on fair value measurements that clarifies the application of existing guidance and disclosure requirements, changes certain fair value measurement principles and requires additional disclosures about fair value measurements that are estimated using significant unobservable (Level 3) inputs. This new guidance is to be applied prospectively. We are required to adopt this standard in January 2012. We do not expect that this adoption will have a material impact on our financial statements.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>In June 2011, the FASB issued a new accounting standard on the presentation of comprehensive income. The new standard requires the presentation of comprehensive income, the components of net income and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. The new standard also requires presentation of adjustments for items that are reclassified from other comprehensive income to net income in the statement where the components of net income and the components of other comprehensive income are presented. We are required to adopt this standard in January 2012 and apply it retrospectively. The adoption of this standard is only expected to impact the presentation of our financial statements and not the results of operations or financial position of the Company. </font></div>

<div>&#160;</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">9</font></div>

<div>&#160;</div>

<hr align="center" noshade size="2" width="100%">
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</div>

<br>
<div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a href="#toc">Table of Contents</a></font></font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">GERON CORPORATION<br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</font></font><br>
<font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">JUNE 30, 2011</font></font><br>
<font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">(UNAUDITED) </font></font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">2. FAIR VALUE MEASUREMENTS</font></font><font size="2" style="FONT-FAMILY: Times New Roman"> </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>We categorize assets and liabilities recorded at fair value on our condensed consolidated balance sheet based upon the level of judgment associated with inputs used to measure their fair value. The categories are as follows: </font></div>

<div>&#160;</div>

<div style="PADDING-LEFT: 15pt; WIDTH: 100%">
<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman">Level 1 &#8211; Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. An active market for the asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman">Level 2 &#8211; Inputs (other than quoted market prices included in Level 1) are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the instrument&#8217;s anticipated life. </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman">Level 3 &#8211; Inputs reflect management&#8217;s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model.</font></div>
</div>

<div>&#160;</div>

<div><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>A financial instrument&#8217;s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Following is a description of the valuation methodologies used for instruments measured at fair value on our condensed consolidated balance sheet, including the category for such instruments. </font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Cash Equivalents and Marketable Securities Available-for-Sale </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>Where quoted prices are available in an active market, securities are categorized as Level 1. Examples of such Level 1 securities include certificates of deposit and money market funds. If quoted market prices are not available for the specific security, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics or discounted cash flows. Examples of such Level 2 instruments include U.S. Treasury securities, U.S. government-sponsored enterprise securities, municipal securities, corporate notes, asset-backed securities and commercial paper.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3">&#160;&#160;&#160;&#160;&#160;</font>Marketable securities by security type at June 30, 2011 were as follows:</font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="79%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Gross</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Gross</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center">&#160;</td>
</tr><tr>
<td align="left" nowrap width="79%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Unrealized</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Unrealized</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Estimated</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Cost</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Gains</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="3" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Losses</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Fair Value</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="12" nowrap width="20%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">(In thousands)</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Included in cash and cash equivalents:</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Money market funds</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">9,403</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">9,403</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Municipal securities (due in less than 1 year)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">20,270</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">20,270</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%" style="BORDER-BOTTOM: #ffffff 2pt solid">&#160;</td>
<td nowrap width="1%" style="BORDER-BOTTOM: white 2pt solid; TEXT-ALIGN: left">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">29,673</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #ffffff 2pt solid">&#160;</td>
<td nowrap width="1%" style="BORDER-BOTTOM: white 2pt solid; TEXT-ALIGN: left">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">29,673</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Restricted cash:</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%" style="BORDER-BOTTOM: #ffffff 2pt solid"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Certificates of deposit</font></td>
<td nowrap width="1%" style="BORDER-BOTTOM: white 2pt solid; TEXT-ALIGN: left">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">793</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #ffffff 2pt solid">&#160;</td>
<td nowrap width="1%" style="BORDER-BOTTOM: white 2pt solid; TEXT-ALIGN: left">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">793</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Marketable securities:</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Certificate of deposit (due in less than 1 year)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">338</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">338</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Government-sponsored enterprise securities (due in</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;less than 1 year)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">8,180</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">3</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(2</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">8,181</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Government-sponsored enterprise securities (due in</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1 to 2 years)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">16,540</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">47</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(1</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">16,586</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Commercial paper (due in less than 1 year)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">10,846</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">4</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">10,850</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Corporate notes (due in less than 1 year)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">100,353</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">65</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(31</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">100,387</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Corporate notes (due in 1 to 2 years)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">22,978</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">32</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(4</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">23,006</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Investments in licensees</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">1</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">1</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">2</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #c0c0c0 2pt solid">&#160;</td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: silver 2pt solid; TEXT-ALIGN: left">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">159,236</font></td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: silver 2pt solid; TEXT-ALIGN: left">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">152</font></td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: silver 2pt solid; TEXT-ALIGN: left">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">(38</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #c0c0c0 2pt solid"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: silver 2pt solid; TEXT-ALIGN: left">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">159,350</font></td>
</tr><tr>
<td align="left" nowrap width="79%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
</tr></table>
</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">10</font></div>

<div>&#160;</div>

<hr align="center" noshade size="2" width="100%">
<div id="PGBRK">
<div id="PN" style="PAGE-BREAK-BEFORE: always">&#160;</div>
</div>

<br>
<div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a href="#toc">Table of Contents</a></font></font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">GERON CORPORATION<br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</font></font><br>
<font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">JUNE 30, 2011</font></font><br>
<font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">(UNAUDITED) </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3">&#160;&#160;&#160;&#160;&#160;</font>Marketable securities by security type at December 31, 2010 were as follows: </font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="79%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Gross</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Gross</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Unrealized</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Unrealized</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Estimated</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Cost</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Gains</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="3" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Losses</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Fair Value</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="12" nowrap width="20%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">(In thousands)</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Included in cash and cash equivalents:</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Money market funds</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">21,076</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">21,076</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Municipal securities (due in less than 1 year)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">18,450</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">18,450</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Commercial paper (due in less than 1 year)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">3,499</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">3,499</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Corporate notes (due in less than 1 year)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">1,856</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">(1</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">1,855</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%" style="BORDER-BOTTOM: #ffffff 2pt solid">&#160;</td>
<td nowrap width="1%" style="BORDER-BOTTOM: white 2pt solid; TEXT-ALIGN: left">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">44,881</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">(1</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #ffffff 2pt solid"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td nowrap width="1%" style="BORDER-BOTTOM: white 2pt solid; TEXT-ALIGN: left">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">44,880</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Restricted cash:</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%" style="BORDER-BOTTOM: #ffffff 2pt solid"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Certificates of deposit</font></td>
<td nowrap width="1%" style="BORDER-BOTTOM: white 2pt solid; TEXT-ALIGN: left">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">792</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #ffffff 2pt solid">&#160;</td>
<td nowrap width="1%" style="BORDER-BOTTOM: white 2pt solid; TEXT-ALIGN: left">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">792</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Marketable securities:</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Certificate of deposit (due in less than 1 year)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">325</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">325</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Government-sponsored enterprise securities (due in</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;less than 1 year)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">11,288</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(1</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">11,287</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Government-sponsored enterprise securities (due in</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1 to 2 years)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">27,270</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">9</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(11</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">27,268</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Commercial paper (due in less than 1 year)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">12,087</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">7</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">12,094</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Corporate notes (due in less than 1 year)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">116,822</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">127</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(56</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">116,893</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Corporate notes (due in 1 to 2 years)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">6,645</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">1</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(3</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">6,643</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Investments in licensees</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">1</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">1</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="79%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #c0c0c0 2pt solid">&#160;</td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: silver 2pt solid; TEXT-ALIGN: left">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">174,438</font></td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: silver 2pt solid; TEXT-ALIGN: left">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">144</font></td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: silver 2pt solid; TEXT-ALIGN: left">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">(71</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #c0c0c0 2pt solid"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: silver 2pt solid; TEXT-ALIGN: left">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">174,511</font></td>
</tr><tr>
<td align="left" nowrap width="79%" bgcolor="#ffffff">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#ffffff">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#ffffff">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#ffffff">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#ffffff">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#ffffff">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#ffffff">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#ffffff">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#ffffff">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#ffffff">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#ffffff">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#ffffff">&#160;</td>
<td align="right" nowrap width="1%" bgcolor="#ffffff">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#ffffff">&#160;</td>
</tr></table>
</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3">&#160;&#160;&#160;&#160;&#160;</font>Marketable securities with unrealized losses at June 30, 2011 and December 31, 2010 were as follows: </font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="67%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="6" nowrap width="10%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Less Than 12 Months</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="6" nowrap width="10%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">12 Months or Greater</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="6" nowrap width="10%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Total</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="67%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Gross</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Gross</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Gross</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="67%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Estimated</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Unrealized</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Estimated</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Unrealized</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Estimated</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Unrealized</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="67%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Fair Value</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="3" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Losses</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Fair Value</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="3" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Losses</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Fair Value</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="3" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Losses</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="67%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="20" nowrap width="32%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">(In thousands)</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="67%" bgcolor="#c0c0c0"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">As of June 30, 2011:</font></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="67%"><font size="2" style="FONT-FAMILY: times new roman">Government-sponsored enterprise</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="67%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;securities (due in less than 1 year)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">2,030</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(2</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">2,030</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(2</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="67%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Government-sponsored enterprise</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="67%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;securities (due in 1 to 2 years)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">4,000</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(1</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">4,000</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(1</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="67%"><font size="2" style="FONT-FAMILY: times new roman">Corporate notes (due in less than 1 year)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">43,627</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(31</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">43,627</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(31</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="67%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Corporate notes (due in 1 to 2 years)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">3,821</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">(4</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">3,821</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">(4</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="67%" style="BORDER-BOTTOM: #ffffff 2pt solid">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td nowrap width="1%" style="BORDER-BOTTOM: black 2pt double; TEXT-ALIGN: left"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">53,478</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">(38</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #ffffff 2pt solid"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #ffffff 2pt solid">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">53,478</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">(38</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #ffffff 2pt solid"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr>
<td align="left" nowrap width="67%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="67%" bgcolor="#c0c0c0"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">As of December 31, 2010:</font></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="67%"><font size="2" style="FONT-FAMILY: times new roman">Government-sponsored enterprise</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="67%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;securities (due in less than 1 year)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">7,287</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(1</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">7,287</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(1</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="67%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Government-sponsored enterprise</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="67%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;securities (due in 1 to 2 years)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">15,287</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(11</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">15,287</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(11</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="67%"><font size="2" style="FONT-FAMILY: times new roman">Corporate notes (due in less than 1 year)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">61,354</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(56</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">3,019</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(1</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">64,373</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">(57</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="67%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Corporate notes (due in 1 to 2 years)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">4,313</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">(3</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">4,313</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">(3</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="67%" style="BORDER-BOTTOM: #ffffff 2pt solid">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">88,241</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">(71</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #ffffff 2pt solid"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">3,019</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">(1</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #ffffff 2pt solid"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">91,260</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">(72</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #ffffff 2pt solid"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr>
<td align="left" nowrap width="67%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
</tr></table>
</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>The gross unrealized losses related to government-sponsored enterprise securities and corporate notes as of June 30, 2011 and December 31, 2010 were due to changes in interest rates. We determined that the gross unrealized losses on our marketable securities as of June 30, 2011 and December 31, 2010 were temporary in nature. We review our investments quarterly to identify and evaluate whether any investments have indications of possible impairment. Factors considered in determining whether a loss is temporary include the length of time and extent to which the fair value has been less than the cost basis, the financial condition and near-term prospects of the investee, and whether we intend to sell the security or whether it is more likely than not that we would be required to sell the security. We currently do not intend to sell these securities before recovery of their amortized cost basis. </font></div>

<div>&#160;</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">11</font></div>

<div>&#160;</div>

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<br>
<div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a href="#toc">Table of Contents</a></font></font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">GERON CORPORATION<br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</font></font><br>
<font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">JUNE 30, 2011</font></font><br>
<font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">(UNAUDITED) </font></font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Marketable and Non-Marketable Investments in Licensees </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>Where quoted prices are available in an active market, securities are categorized as Level 1. Level 1 securities include publicly traded equities. Significant investments in licensees accounted for using the equity method of accounting or equity securities in non-marketable companies are not measured at fair value and are not assigned a category level.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>As of June 30, 2011 and December 31, 2010, the carrying values of our investments in non-marketable nonpublic companies were zero and $503,000, respectively. We recognized no charges related to other-than-temporary declines in fair values of investments in licensees for the three and six months ended June 30, 2011 and 2010. See Note 3 on Equity Method Investment for further discussion of investments in licensees.</font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Derivatives </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>Warrants to purchase common stock and non-employee options are normally traded less actively, have trade activity that is one way, and/or traded in less-developed markets and are therefore valued based upon models with significant unobservable market parameters, resulting in Level 3 categorization.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>The fair value of derivatives has been calculated at each reporting date using the Black Scholes option-pricing model with the following assumptions:</font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="94%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">June 30, 2011</font></font></td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap width="2%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">December 31, 2010</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="94%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Dividend yield</font></td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">None</font></td>
<td nowrap width="2%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">None</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="94%"><font size="2" style="FONT-FAMILY: times new roman">Expected volatility</font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">0.675</font></td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">0.668</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="94%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Risk-free interest rate</font></td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">0.81%</font></td>
<td nowrap width="2%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">2.01%</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="94%"><font size="2" style="FONT-FAMILY: times new roman">Expected term</font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">4 yrs</font></td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">4 yrs</font></td>
</tr></table>
</div>

<br>
<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>Dividend yield is based on historical cash dividend payments and Geron has paid no dividends to date. The expected volatility is based on historical volatilities of our stock since traded options on Geron stock do not correspond to derivatives&#8217; terms and trading volume of Geron options is limited. The risk-free interest rate is based on the U.S. Zero Coupon Treasury Strip Yields for the expected term in effect on the reporting date. The expected term of derivatives is equal to the remaining contractual term of the instrument. </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>As of June 30, 2011 and December 31, 2010, the following non-employee options to purchase common stock were considered derivatives and classified as current liabilities:</font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td nowrap width="72%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="4" nowrap width="6%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">At June 30, 2011</font></font></td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="4" nowrap width="6%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">At December 31, 2010</font></font></td>
</tr><tr valign="bottom">
<td nowrap width="72%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Number</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="3%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Fair</font></font></td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Number</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="3%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Fair</font></font></td>
</tr><tr valign="bottom">
<td nowrap width="72%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Issuance</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="3%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Exercise</font></font></td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Exercisable</font></font></td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Expiration</font></font></td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">of</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="3%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Value</font></font></td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">of</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="3%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Value</font></font></td>
</tr><tr valign="bottom">
<td nowrap width="72%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Date</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Price</font></font></td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap width="2%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Date</font></font></td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap width="2%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Date</font></font></td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap width="2%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Shares</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">(In thousands)</font></font></td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap width="2%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Shares</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">(In thousands)</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="72%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">March 2005</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">6.39</font></td>
<td nowrap width="2%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">January 2007</font></td>
<td nowrap width="2%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">March 2015</font></td>
<td nowrap width="2%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">284,600</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">428</font></td>
<td nowrap width="2%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">284,600</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">707</font></td>
</tr></table>
</div>

<br>
<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>Non-employee options for which performance obligations are complete are classified as derivative liabilities on our condensed consolidated balance sheet. Upon the exercise of these options, the instruments are marked to fair value and reclassified from derivative liabilities to stockholders&#8217; equity. No reclassifications from current liabilities to stockholders&#8217; equity were made for derivatives during the six months ended June 30, 2011.</font></div>

<div>&#160;</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">12</font></div>

<div>&#160;</div>

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<div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a href="#toc">Table of Contents</a></font></font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">GERON CORPORATION<br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</font></font><br>
<font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">JUNE 30, 2011</font></font><br>
<font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">(UNAUDITED) </font></font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Fair Value on a Recurring Basis </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>The following table presents information about our financial assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2011, and indicates the fair value category assigned.</font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="80%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="11" nowrap width="19%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Fair Value Measurements at Reporting Date Using</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Significant</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Quoted Prices in</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Other</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Significant</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Active Markets for</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Observable</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Unobservable</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Identical Assets</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Inputs</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Inputs</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">(In thousands)</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Level 1</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Level 2</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Level 3</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Total</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%" bgcolor="#c0c0c0"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Assets</font></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%"><font size="2" style="FONT-FAMILY: times new roman">Money market funds <font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(1)</font></font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">9,403</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">9,403</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Certificate of deposit <font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(2)</font></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">338</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">338</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%"><font size="2" style="FONT-FAMILY: times new roman">Municipal securities <font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(1)</font></font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">20,270</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">20,270</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Government-sponsored enterprise securities <font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(2) (3)</font></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">24,767</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">24,767</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%"><font size="2" style="FONT-FAMILY: times new roman">Commercial paper <font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(2)</font></font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">10,850</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">10,850</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Corporate notes <font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(2) (3)</font></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">123,393</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">123,393</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%"><font size="2" style="FONT-FAMILY: times new roman">Investments in licensees <font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(4)</font></font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">2</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">2</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Total</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">9,743</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">179,280</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">189,023</font></td>
</tr><tr>
<td align="left" nowrap width="80%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="11" nowrap width="19%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Fair Value Measurements at Reporting Date Using</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Significant</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Quoted Prices in</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Other</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Significant</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Active Markets for</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Observable</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Unobservable</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Identical Assets</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Inputs</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Inputs</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="80%"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">(In thousands)</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Level 1</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Level 2</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Level 3</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Total</font></font></td>
</tr><tr>
<td align="left" nowrap width="80%" bgcolor="#c0c0c0"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Liabilities</font></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr>
<td align="left" nowrap width="80%"><font size="2" style="FONT-FAMILY: times new roman">Derivatives <font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(5)</font></font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">428</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">428</font></td>
</tr><tr>
<td align="left" nowrap width="80%">____________________</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
</tr></table>
</div>

&#160;<br>
<div>
<table border="0" cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse; ">
<tr>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(1)</font></td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">&#160;</font></td>
<td width="100%"><font size="2" style="FONT-FAMILY: times new roman">Included in cash and cash equivalents on our condensed consolidated balance sheet.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;</td>
<td width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(2)</font></td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">&#160;</font></td>
<td width="100%"><font size="2" style="FONT-FAMILY: times new roman">Included in current marketable securities on our condensed consolidated balance sheet.</font></td>
</tr><tr>
<td colspan="3">&#160;</td>
</tr><tr>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(3)</font></td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">&#160;</font></td>
<td width="100%"><font size="2" style="FONT-FAMILY: times new roman">Included in noncurrent marketable securities on our condensed consolidated balance sheet.</font></td>
</tr><tr>
<td colspan="3">&#160;</td>
</tr><tr>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(4)</font></td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">&#160;</font></td>
<td width="100%"><font size="2" style="FONT-FAMILY: times new roman">Included in investments in licensees on our condensed consolidated balance sheet.</font></td>
</tr><tr>
<td colspan="3">&#160;</td>
</tr><tr>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(5)</font></td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">&#160;</font></td>
<td width="100%"><font size="2" style="FONT-FAMILY: times new roman">Included in fair value of derivatives on our condensed consolidated balance sheet.</font></td>
</tr></table>
</div>

<div>&#160;</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">13</font></div>

<div>&#160;</div>

<hr align="center" noshade size="2" width="100%">
<div id="PGBRK">
<div id="PN" style="PAGE-BREAK-BEFORE: always">&#160;</div>
</div>

<br>
<div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a href="#toc">Table of Contents</a></font></font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">GERON CORPORATION<br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br>
JUNE 30, 2011<br>
(UNAUDITED)</font></font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Changes in Level 3 Recurring Fair Value Measurements</font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>The tables below includes a rollforward of the balance sheet amounts for the three and six months ended June 30, 2011 (including the change in fair value), for financial instruments in the Level 3 category. When a determination is made to classify a financial instrument within Level 3, the determination is based upon the significance of the unobservable parameters to the overall fair value measurement. However, Level 3 financial instruments typically include, in addition to the unobservable components, observable components (that is, components that are actively quoted and can be validated to external sources). Accordingly, the gains and losses in the table below include changes in fair value due in part to observable factors that are part of the methodology. </font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="68%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="19" nowrap width="31%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Fair Value Measurements Using Significant Unobservable Inputs (Level 3)</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="68%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="19" nowrap width="31%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Three Months Ended June 30, 2011</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="68%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Change in</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="68%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Unrealized Gains</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="68%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Total</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Purchases,</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Related to</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="68%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Unrealized</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Sales,</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Transfers</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Financial</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="68%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Fair Value at</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Gains</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Issuances,</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">In and/or</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Fair Value at</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Instruments</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="68%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">March 31,</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Included in</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Settlements,</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Out of</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">June 30,</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Held at</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="68%" style="BORDER-BOTTOM: #000000 1pt solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">(In thousands)</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2011</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="3" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Earnings, net </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman"><font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(1)</font></font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">net</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Level 3</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2011</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="3" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">June 30, 2011 <font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(1)</font></font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="68%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Derivative liabilities</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">668</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(240</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">428</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(240</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr>
<td align="left" nowrap width="68%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="68%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="19" nowrap width="31%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Fair Value Measurements Using Significant Unobservable Inputs (Level 3)</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="68%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="19" nowrap width="31%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Six&#160;Months Ended June 30, 2011</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="68%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Change in</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="68%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Unrealized Gains</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="68%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Total</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Purchases,</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Related to</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="68%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Unrealized</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Sales,</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Transfers</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="3%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Financial</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="68%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Fair Value at</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Gains</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Issuances,</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">In and/or</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Fair Value at</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Instruments</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="68%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">December&#160;31,</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Included in</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Settlements,</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Out of</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">June 30,</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Held at</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="68%" style="BORDER-BOTTOM: #000000 1pt solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">(In thousands)</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2010</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="3" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Earnings, net </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman"><font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(1)</font></font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">net</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Level 3</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2011</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td colspan="3" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">June 30, 2011 <font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(1)</font></font></font></td>
</tr><tr>
<td align="left" nowrap width="68%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Derivative liabilities</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">707</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(279</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#8212; </font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#8212; </font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">428</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(279</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr></table>
</div>

____________________<br>
&#160;<br>
<div>
<table border="0" cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse; ">
<tr>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(1)</font></td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; </font></td>
<td width="100%"><font size="2" style="FONT-FAMILY: times new roman">Reported as unrealized gain on fair value of derivatives in our condensed consolidated statements of operations.</font></td>
</tr></table>
</div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">3. EQUITY METHOD INVESTMENT </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>In April 2005, we and Exeter Life Sciences, Inc. (Exeter) established Start Licensing, Inc. (Start), a joint venture to manage and license a broad portfolio of intellectual property rights related to animal reproductive technologies. We and Exeter owned 49.9% and 50.1% of Start, respectively. In connection with the establishment of Start, we granted a worldwide, exclusive, non-transferable license to our patent rights to nuclear transfer technology for use in animal cloning, with the right to sublicense such patent rights. Since there was no net book value associated with the patent rights at the execution of the joint venture, no initial value was recognized for our investment in Start. We suspended the equity method of accounting since our proportionate share of net losses in Start exceeded our original carrying value of the investment and we had no commitments to provide financial support or obligations to perform services or other activities for Start. </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>In August 2008, we and Exeter entered into Contribution Agreements whereby we and Exeter exchanged our equity interests in Start for equity interests in ViaGen, Inc. (ViaGen). As a result of the exchange, Start became a wholly-owned subsidiary of ViaGen. Ownership of ViaGen immediately following the transaction was as follows: Exeter&#8211; 69%; Geron &#8211; 27%; and Smithfield Foods &#8211; 4%. Since no value had been recorded for our investment in Start, the same zero carrying value was applied to our investment in ViaGen. Geron&#8217;s share of equity method losses from Start that were not recognized during the period the equity method was suspended was carried over to the investment in ViaGen. </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>In September 2009, we purchased $3,603,000 in equity from ViaGen and simultaneously Exeter converted its outstanding debt with ViaGen into equity. The new equity purchase did not fund prior ViaGen losses and represented additional financial support to ViaGen. Ownership of ViaGen upon consummation of the transactions was as follows: Exeter &#8211; 70%; Geron &#8211; <font size="2" style="FONT-FAMILY: Times New Roman">28%; and Smithfield Foods &#8211; 2%. With the new investment in 2009, we resumed applying the equity method of accounting by increasing (decreasing) the carrying value of our investment by our proportionate share of ViaGen&#8217;s earnings (losses). </font></font></div>

<div>&#160;</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">14</font></div>

<div>&#160;</div>

<hr align="center" noshade size="2" width="100%">
<div id="PGBRK">
<div id="PN" style="PAGE-BREAK-BEFORE: always">&#160;</div>
</div>

<br>
<div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a href="#toc">Table of Contents</a></font></font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">GERON CORPORATION<br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br>
JUNE 30, 2011<br>
(UNAUDITED) </font></font></div>

<div>&#160;</div>

<div>&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">In November 2010, we provided a loan of $1,500,000 to ViaGen to fund its operations. Also in November 2010, we agreed to appoint one of our ViaGen board member representatives as executive chairman of the ViaGen board and purchased $23,000 in ViaGen equity directly from another shareholder, Moral Compass Corporation (MCC, previously referred to as Exeter). As of June 30, 2011, ownership of ViaGen was as follows: MCC &#8211; 58%; Geron &#8211; 40%; and Smithfield Foods &#8211; 2%. </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Since ViaGen does not have sufficient equity to finance its own activities without additional subordinated financial support, it meets the definition of a VIE. By providing financial support to ViaGen, we are a variable interest holder. However, as of June 30, 2011, we lacked the power to direct activities that most significantly impact ViaGen&#8217;s economic performance. Although one of our ViaGen board representatives serves as executive chairman of the ViaGen board, he has no additional rights or obligations to direct ViaGen&#8217;s activities. Control over ViaGen&#8217;s economic performance is driven by the ViaGen management team with authorization and approval from the entire ViaGen board, which is currently comprised of two Geron representatives and two MCC representatives. As the majority holder of the equity and debt of ViaGen, MCC maintains controlling financial interest over the company, including the right to appoint a third board member, giving them majority control of the ViaGen board. Accordingly, we have not included ViaGen&#8217;s financial information with our consolidated results. </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>For the three and six months ended June 30, 2011, we recognized $168,000 and $503,000, respectively, for our proportionate share of ViaGen&#8217;s operating losses compared to $496,000 and $892,000 for the comparable 2010 periods. Our share of losses is recorded in the condensed consolidated statements of operations under losses recognized under equity method investment.</font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Our maximum exposure to loss pertaining to ViaGen represents the balance sheet carrying amount of our investment in ViaGen which reflects the initial amount of cash invested less our proportionate share of losses over time. The adjusted basis of our investment in ViaGen at June 30, 2011 and December 31, 2010 was zero and $503,000, respectively, which is reflected under investments in licensees on our condensed consolidated balance sheet. We suspended the equity method of accounting during the quarter ended June 30, 2011 since the adjusted basis of our investment was zero at June 30, 2011 and we have no commitments to provide financial support or obligations to perform services or other activities for ViaGen. </font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">4. COLLABORATIVE AGREEMENT </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>In June 2009, we entered into a worldwide exclusive license and alliance agreement with GE Healthcare UK, Limited (GEHC) to develop and commercialize cellular assay products derived from human embryonic stem cells (hESCs) for use in drug discovery, development and toxicity screening. Under the terms of the agreement, GEHC has been granted an exclusive license under Geron&#8217;s intellectual property portfolio covering the growth and differentiation of hESCs, as well as a sublicense under Geron&#8217;s rights to the hESC patents held by the Wisconsin Alumni Research Foundation. We established a multi-year alliance program with GEHC under which scientists from both companies worked to develop hESC-based products for drug discovery. The first product developed under the alliance, human cardiomyocytes derived from hESCs, was launched in October 2010 by GEHC.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>In connection with the agreement, we received upfront non-refundable license payments under the exclusive license and sublicense and can receive milestone payments upon achievement of certain commercial development and product sales events and royalties on future product sales. Under the alliance program, GEHC was responsible for all costs incurred by GEHC and all costs incurred by us for activities undertaken at Geron, including the funding of our scientists who worked on the alliance program. An Alliance Steering Committee, with representatives from each company, coordinated and managed the alliance program.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>License payments under the GEHC agreement were recorded as deferred revenue upon receipt and were recognized ratably as revenue over the alliance program period as a result of our continuing involvement with the collaboration. Funding received for our efforts under the alliance program was recognized as revenue as costs were incurred, which reflected our level of effort over the period of the alliance program. Since the milestone payments are subject to substantive contingencies, </font><font size="2" style="FONT-FAMILY: Times New Roman">any such payments will be recognized upon completion of the specified milestones. Royalties received under the agreement will generally be recognized as revenue upon receipt of the related royalty payment. For the three and six months ended June 30, 2011, we recognized $150,000 and $300,000, respectively, as revenue from collaborative agreements compared to $225,000 and $450,000 for the comparable 2010 periods. For the three and six months ended June 30, 2011and 2010, we recognized $175,000 and $350,000, respectively, as license fee revenue in connection with this agreement.</font></div>

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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">GERON CORPORATION <br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br>
JUNE 30, 2011<br>
(UNAUDITED) </font></font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">5. SEGMENT INFORMATION </font></font></div>

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<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">Our executive management team represents our chief decision maker. To date, we have viewed our operations as one segment, the discovery and development of therapeutic and diagnostic products for oncology and human embryonic stem cell therapies. As a result, the financial information disclosed herein materially represents all of the financial information related to our principal operating segment.</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">6. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS DATA </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Supplemental schedule of non-cash operating and investing activities:</font></div>

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<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="91%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="6" nowrap width="8%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Six Months Ended</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="91%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="6" nowrap width="8%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">June 30,</font></font></td>
</tr><tr valign="bottom">
<td nowrap width="91%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">(In Thousands)</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
<td colspan="2" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2011</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
<td colspan="2" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2010</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="91%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Supplemental Operating Activities:</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="2%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="2%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="91%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Issuance of common stock for performance bonus</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160; </font></td>
<td align="right" nowrap width="2%"><font size="2" style="FONT-FAMILY: times new roman">2,807</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160; </font></td>
<td align="right" nowrap width="2%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="91%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Issuance of common stock for 401(k) matching contributions</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">1,294</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">993</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="91%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Issuance of common stock for acquired in-process research and development</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="2%"><font size="2" style="FONT-FAMILY: times new roman">27,500</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="2%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="91%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Issuance of common stock for services rendered to date</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="2%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="2%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="91%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; or to be received in future periods</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">251</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">5,433</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="91%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Reclassification between deposits and other current assets</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="2%"><font size="2" style="FONT-FAMILY: times new roman">(345</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="2%"><font size="2" style="FONT-FAMILY: times new roman">11</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="91%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Supplemental Investing Activities:</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="2%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="2%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="91%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Net unrealized gain on marketable securities</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="2%"><font size="2" style="FONT-FAMILY: times new roman">42</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="2%"><font size="2" style="FONT-FAMILY: times new roman">138</font></td>
</tr></table>
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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">7. SUBSEQUENT EVENT </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><font style="DISPLAY: inline">Effective August 1, 2011, Geron entered into a Loan Agreement with the California Institute for Regenerative Medicine (CIRM) </font>to support Geron&#8217;s human embryonic stem-cell derived oligodendrocyte progenitor therapy (GRNOPC1) for the treatment of spinal cord injury.<font style="DISPLAY: inline">&#160;</font>CIRM shall disburse to Geron an aggregate of $24,846,856 over a period of three years commencing on August 1, 2011 and ending on July 31, 2014. The disbursements are pursuant to an established schedule and, in certain cases, are conditioned upon the achievement of project milestones. The initial term of the Loan Agreement is five years and Geron may request extension of the Loan Agreement for one additional term of five years for a maximum total of ten years from the Effective Date. The interest rate for each quarterly disbursement of the loan is equal to the one year LIBOR rate plus 2%. Interest is compounded annually on the principal amount from the date of the applicable disbursement. Repayment of the principal and any accrued interest shall be due and payable at the end of the initial term. If the loan is extended, certain interest payments are due during the second five years. Repayment of the loan is suspended if the supported project is abandoned for any reason. Any loan amount that has not been due and payable for 15 years after the granting of a suspension of repayment will be automatically forgiven by CIRM.</font> </font>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font size="2" style="FONT-FAMILY: Times New Roman">&#160;</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">In connection with each disbursement, Geron shall issue to CIRM a warrant to purchase Geron common stock.&#160;&#160;The number of shares underlying each of the warrants will be equal to 50% of the applicable disbursement amount divided by the average of the closing sales prices of Geron common stock as reported by The NASDAQ Global Select Market for the ten consecutive trading days immediately preceding the corresponding disbursement (Average Closing Price).&#160;&#160;The exercise price of each warrant shall also be equal to the Average Closing Price preceding the issuance of the warrant. Each of the warrants and the underlying common stock will be unregistered and each warrant shall have a term of ten years from the respective date of issuance.</font></font></div>
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<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">16</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a name="6">ITEM 2. MANAGEMENT&#8217;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</a> </font></font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">FORWARD-LOOKING STATEMENTS </font></font></div>

<div>&#160;</div>

<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">This Form 10-Q contains forward-looking statements that involve risks and uncertainties. We use words such as &#8220;anticipate&#8221;, &#8220;believe&#8221;, &#8220;plan&#8221;, &#8220;expect&#8221;, &#8220;future&#8221;, &#8220;intend&#8221; and similar expressions to identify forward-looking statements. These statements are within the meaning of the &#8220;safe harbor&#8221; provisions of the Private Securities Litigation Reform Act of 1995. These statements appear throughout the Form 10-Q and are statements regarding our intent, belief, or current expectations, primarily with respect to our operations and related industry developments. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this Form 10-Q. Our actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks faced by us and described in Part II, Item 1A, entitled &#8220;Risk Factors,&#8221; and in &#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations&#8221; in Part I, Item 2 of this Form 10-Q.</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">OVERVIEW </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>The following discussion should be read in conjunction with the unaudited condensed consolidated financial statements and notes thereto included in Part I, Item 1 of this Form 10-Q and with Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations contained in the Company&#8217;s Annual Report on Form 10-K for the year ended December 31, 2010, as filed with the Securities and Exchange Commission on February 25, 2011.</font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Geron is developing first-in-class biopharmaceuticals for the treatment of cancer and chronic degenerative diseases. We are advancing anti-cancer therapies through multiple Phase 2 clinical trials in different cancers by targeting the enzyme telomerase and with a compound designed to penetrate the blood-brain barrier (BBB). We are developing cell therapy products from differentiated human embryonic stem cells (hESCs) for multiple indications, including central nervous system (CNS) disorders, heart failure, diabetes and osteoarthritis, and have initiated a Phase 1 clinical trial in spinal cord injury. </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Our results of operations have fluctuated from period to period and may continue to fluctuate in the future, as well as the progress of our research and development efforts and variations in the level of expenses related to developmental efforts during any given period. Results of operations for any period may be unrelated to results of operations for any other period. In addition, historical results should not be viewed as indicative of future operating results. We are subject to risks common to companies in our industry and at our stage of development, including risks inherent in our research and development efforts, reliance upon our collaborative partners, enforcement of our patent and proprietary rights, need for future capital, potential competition and uncertainty of clinical trial results or regulatory approvals or clearances. In order for a product to be commercialized based on our research, we and our collaborators must conduct preclinical tests and clinical trials, demonstrate the efficacy and safety of our product candidates, obtain regulatory approvals or clearances and enter into manufacturing, distribution and marketing arrangements, as well as obtain market acceptance. We do not expect to receive revenues or royalties based on therapeutic products for a period of years, if at all. </font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">CRITICAL ACCOUNTING POLICIES AND ESTIMATES</font></font><font size="2" style="FONT-FAMILY: Times New Roman"> </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>There have been no significant changes in our critical accounting policies and estimates during the six months ended June 30, 2011 that materially impact our condensed consolidated financial statements as compared to the critical accounting policies and estimates disclosed in our Annual Report on Form 10-K for the year ended December 31, 2010. </font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Our condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of these financial statements requires management to make estimates and assumptions that affect the reported assets, liabilities, revenues and expenses. Note 1 of Notes to Condensed Consolidated Financial Statements describes the significant accounting policies used in the preparation of the condensed consolidated financial statements. </font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Estimates and assumptions about future events and their effects cannot be determined with certainty. We base our estimates on historical experience and on various other assumptions believed to be applicable and reasonable under the circumstances. These estimates may change as new events occur, as additional information is obtained and as our operating environment changes. These changes have historically been minor and have been included in the condensed consolidated financial statements as soon as they became known. Based on a critical assessment of our accounting policies and the underlying judgments and uncertainties affecting the application of those policies, management believes that our condensed </font><font size="2" style="FONT-FAMILY: Times New Roman">consolidated financial statements are fairly stated in accordance with accounting principles generally accepted in the United States, and present a meaningful presentation of our financial condition and results of operations. </font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">RESULTS OF OPERATIONS </font></font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Revenues </font></font></div>

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<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">We recognized revenues from collaborative agreements of $150,000 and $300,000 for the three and six months ended June 30, 2011, respectively, compared to $225,000 and $450,000 for the comparable 2010 periods. Revenues in 2011 and 2010 reflect revenue recognized under our collaboration with GE Healthcare UK, Ltd. (GE Healthcare).</font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>We have entered into license and option agreements with companies involved in oncology, diagnostics, research tools, agriculture and biologics production. In each of these agreements, we have granted certain rights to our technologies. In connection with the agreements, we are entitled to receive license fees, option fees, milestone payments and royalties on future sales, or any combination thereof. We recognized license fee revenues of $247,000 and $909,000 for the three and six months ended June 30, 2011, respectively, compared to $302,000 and $907,000 for the comparable 2010 periods related to our various agreements. Current revenues may not be predictive of future revenues.</font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>We received royalties of $65,000 and $758,000 for the three and six months ended June 30, 2011, respectively, compared to $474,000 and $562,000 for the comparable 2010 periods on product sales of telomerase detection and telomere measurement kits to the research-use-only market, cell-based research products and nutritional products. License and royalty revenues are dependent upon additional agreements being signed and future product sales.</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Research and Development Expenses</font></font><font size="2" style="FONT-FAMILY: Times New Roman"> </font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Research and development expenses were $16.5 million and $33.3 million for the three and six months ended June 30, 2011, respectively, compared to $13.4 million and $26.9 million for the comparable 2010 periods. The increase in research and development expenses for the three and six months ended June 30, 2011, compared to the comparable 2010 periods was primarily the result of increased clinical trial costs of $1.4 million and $3.3 million, respectively, for the start-up and enrollment of four Phase 2 clinical trials of imetelstat and the Phase 1 clinical trial for GRNOPC1, higher clinical drug product purchases and manufacturing costs of $1.0 million and $1.5 million, respectively, related to imetelstat and GRN1005 and higher personnel related costs of $717,000 and $1.1 million, respectively, which includes non-cash stock-based compensation expense of $508,000 and $521,000, respectively. Overall, we expect research and development expenses to increase as we incur expenses related to clinical trials for imetelstat and GRNOPC1 and clinical development of our newly in-licensed product candidate, GRN1005, including the planned initiation of&#160;Phase 2 clinical trials in the second half of 2011 in patients with brain metastases.</font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Our oncology programs focus on treating or diagnosing cancer by targeting or detecting the presence of telomerase, either inhibiting activity of the telomerase enzyme, diagnosing cancer by detecting the presence of telomerase, or using telomerase as a target for therapeutic vaccines. Our core knowledge base in telomerase and telomere biology supports all these approaches, and our scientists may contribute to any or all of these programs in a given period. In December 2010, we in-licensed receptor-targeting peptide technology to develop therapeutic compounds that can cross the BBB by targeting a natural receptor-based mechanism normally used by essential substances to enter the brain, thereby allowing treatment of tumors in the brain, including primary brain cancers and metastases. The following table briefly describes our cancer therapeutic product candidates and their stage of development:</font></div>

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<td align="left" nowrap width="14%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Product</font></font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Product Description</font></font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Disease Treatment</font></font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Development Stage</font></font></td>
<td nowrap width="25%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Patient Enrollment Status</font></font></td>
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<td align="left" nowrap width="14%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">Imetelstat</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Telomerase Inhibitor</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Non-Small Cell Lung</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Phase 2 Trial</font></td>
<td nowrap width="25%" style="BORDER-RIGHT: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Open</font></td>
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<td align="left" nowrap width="14%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">(GRN163L)</font></td>
<td align="left" nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid">&#160;</td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Cancer (NSCLC)</font></td>
<td align="left" nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="left" nowrap width="25%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
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<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Breast Cancer</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Phase 2 Trial</font></td>
<td nowrap width="25%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Open</font></td>
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<td align="left" nowrap width="14%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid">&#160;</td>
<td align="left" nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid">&#160;</td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Multiple Myeloma</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Phase 2 Trial</font></td>
<td nowrap width="25%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Open</font></td>
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<td align="left" nowrap width="14%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid">&#160;</td>
<td align="left" nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid">&#160;</td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Essential</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Phase 2 Trial</font></td>
<td nowrap width="25%" style="BORDER-RIGHT: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Open</font></td>
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<td align="left" nowrap width="14%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="left" nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Thrombocythemia</font></td>
<td align="left" nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="left" nowrap width="25%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
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<td align="left" nowrap width="14%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">GRNVAC1</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Telomerase Cancer</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Acute Myelogenous</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Phase 2 Trial</font></td>
<td nowrap width="25%" style="BORDER-RIGHT: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Completed</font></td>
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<td align="left" nowrap width="14%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Vaccine</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Leukemia</font></td>
<td align="left" nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="left" nowrap width="25%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
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<td align="left" nowrap width="14%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid"><font size="2">GRN1005</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Peptide-Conjugated</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Brain Metastases</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; TEXT-ALIGN: center"><font size="2">Phase 2 Trial</font></td>
<td nowrap width="25%" style="BORDER-RIGHT: #000000 1pt solid; TEXT-ALIGN: center"><font size="2">Planned to open in</font></td>
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<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Paclitaxel</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">&#160;</font></td>
<td align="left" nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td nowrap width="25%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2">second half of 2011</font></td>
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<td align="left" nowrap width="14%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">&#160;</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Glioblastoma Multiforme</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2">Phase 2 Trial</font></td>
<td nowrap width="25%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2">Planned to open in 2012</font></td>
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<div>&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">We sponsored six Phase 1 clinical trials at 22 U.S. medical centers treating over 180 patients to examine the safety, tolerability, pharmacokinetics and pharmacodynamics of imetelstat, alone or in combination with other standard therapies in patients with chronic lymphoproliferative diseases, solid tumors, multiple myeloma, non-small cell lung and breast cancer. These trials have completed patient enrollment. </font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Having met our main objectives for Phase 1 of assessing the safety, tolerability, pharmacokinetics and pharmacodynamics of imetelstat, we are advancing the product candidate through&#160;Phase 2 clinical trials in four different malignancies. Two of the Phase 2 trials are large randomized studies that test imetelstat in patients with NSCLC as maintenance therapy following platinum-based induction therapy and in patients with locally recurrent or metastatic breast cancer in combination with paclitaxel (with or without bevacizumab). The other two Phase 2 trials are single arm studies that test imetelstat in patients with essential thrombocythemia (ET) and in patients with previously treated multiple myeloma. Patients have been enrolled in all four clinical trials. Importantly, the Phase 2 trials of imetelstat are all in malignancies in which cancer stem cells are believed to play an important role in disease progression or relapse after standard therapy.</font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>On December 6, 2010, we and Angiochem entered into an Exclusive License Agreement that provides us with a worldwide exclusive license, with the right to grant sublicenses, to Angiochem&#8217;s proprietary peptide technology that facilitates the transfer of anti-cancer compounds across the BBB to be used with tubulin disassembly inhibitors to enable the treatment of primary brain cancers and cancers that have metastasized to the brain. We acquired the license rights for Angiochem&#8217;s proprietary receptor-targeting peptides for the clinical development of ANG1005 (now GRN1005), a novel taxane derivative for which Angiochem has performed two Phase 1 clinical studies in brain metastases and glioblastoma multiforme. We plan to further develop GRN1005 in Phase 2 clinical studies for these indications. </font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Our hESC therapy programs focus on treating injuries and degenerative diseases with cell therapies based on cells derived from hESCs. A core of knowledge of hESC biology, as well as a significant continuing effort in deriving, growing, maintaining, and differentiating hESCs, underlies all aspects of this group of programs. Many of our researchers are allocated to more than one hESC program, and the percentage allocations of time change as the resource needs of individual programs vary. The following table briefly describes the hESC-derived product candidates being developed by us or our collaborators and the stage of development of these product candidates:</font></div>

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<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="PADDING-RIGHT: 4pt; PADDING-LEFT: 4pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
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<td align="left" nowrap width="12%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Product</font></font></td>
<td nowrap width="22%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Product Description</font></font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Disease Treatment</font></font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Development Stage</font></font></td>
<td nowrap width="25%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Patient Enrollment Status</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="12%" style="BORDER-RIGHT: #000000 1pt solid; PADDING-BOTTOM: 1pt; BORDER-LEFT: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">GRNOPC1</font></td>
<td nowrap width="22%" style="BORDER-RIGHT: #000000 1pt solid; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Oligodendrocytes</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Spinal Cord Injury</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Phase 1 Trial</font></td>
<td nowrap width="25%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Open</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="12%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="left" nowrap width="22%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Other CNS Indications*</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Research</font></td>
<td nowrap width="25%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">N/A</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="12%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">GRNCM1</font></td>
<td nowrap width="22%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Cardiomyocytes</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Heart Disease</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Preclinical</font></td>
<td nowrap width="25%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">N/A</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="12%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">GRNIC1</font></td>
<td nowrap width="22%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Islets</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Type 1 Diabetes</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Research</font></td>
<td nowrap width="25%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">N/A</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="12%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">GRNCHND1</font></td>
<td nowrap width="22%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Chondrocytes</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Osteoarthritis</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Research</font></td>
<td nowrap width="25%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">N/A</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="12%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">GRNVAC2</font></td>
<td nowrap width="22%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Mature Dendritic Cells</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Immunotherapy</font></td>
<td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Product Research</font></td>
<td nowrap width="25%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">N/A</font></td>
</tr></table>
</div>

____________________<br>
&#160;<br>
<div>
<table border="0" cellpadding="0" cellspacing="0" style="">
<tr>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">*</font></td>
<td nowrap valign="top">&#160;&#160;&#160;&#160; </td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">CNS indications being explored include multiple sclerosis, Alzheimer&#8217;s disease and leukodystrophies.</font></td>
</tr></table>
</div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>We have developed proprietary methods to grow, maintain, and scale the culture of undifferentiated hESCs using feeder cell-free and serum-free media with chemically defined components. Moreover, we have developed scalable processes to differentiate these cells into therapeutically relevant cells and cryopreserved formulations of these cells to enable our business model of delivering &#8220;on demand&#8221; cells for therapeutic use. We initiated the Phase 1 clinical trial of GRNOPC1 in patients with spinal cord injury with the first subject receiving cells in October 2010. This is the first FDA-approved clinical trial of a cellular therapy derived from hESCs to be initiated. The clinical trial is a Phase 1 multi-center study designed to assess the safety and tolerability of GRNOPC1 in patients with complete ASIA (American Spinal Injury Association) Impairment Scale grade A thoracic spinal cord injuries. Seven clinical sites are currently open for patient enrollment. </font></div>

<div>&#160;</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">19</font></div>

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<div align="left">&#160;</div>

<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">Research and development expenses incurred under each of these programs are as follows: </font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="84%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td colspan="5" nowrap width="7%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Three Months Ended</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="5" nowrap width="7%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Six Months Ended</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="84%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td colspan="5" nowrap width="7%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">June 30,</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="5" nowrap width="7%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">June 30,</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="84%">&#160;</td>
<td align="left" nowrap width="1%">&#160;&#160;&#160;&#160;&#160; </td>
<td colspan="2" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2011</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
<td colspan="2" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2010</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
<td colspan="2" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2011</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
<td colspan="2" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2010</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="84%"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1">(In thousands)</font></font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td colspan="11" nowrap width="15%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">(Unaudited)</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="84%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Oncology</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160; </font></td>
<td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">9,064</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160; </font></td>
<td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">6,618</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160; </font></td>
<td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">18,250</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160; </font></td>
<td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">12,789</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="84%"><font size="2" style="FONT-FAMILY: times new roman">hESC Therapies</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="2%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">7,480</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="2%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">6,771</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="2%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">15,049</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="2%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">14,145</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="84%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Total</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="2%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">16,544</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="2%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">13,389</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="2%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">33,299</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="2%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">26,934</font></td>
</tr><tr>
<td align="left" nowrap width="84%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="2%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="2%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="2%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="2%">&#160;</td>
</tr></table>

<font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>At this time, we cannot provide reliable estimates of how much time or investment will be necessary to commercialize products from the programs currently in progress. Drug development in the United States is a process that includes multiple steps defined by the FDA under applicable statutes, regulations and guidance documents. After the preclinical research process of identifying, selecting and testing in animals a potential pharmaceutical compound, the clinical development process begins with the filing of an Investigational New Drug (IND) application. Clinical development typically involves three phases of trials: Phase 1, 2 and 3. The most significant costs associated with clinical development are incurred in Phase 3 trials, which tend to be the longest and largest studies conducted during the drug development process. After the completion of a successful preclinical and clinical development program, a New Drug Application (NDA) or Biologics License Application (BLA) must be filed with the FDA, which includes, among other things, substantial amounts of preclinical and clinical data and results and manufacturing-related information necessary to support requested approval of the product. The NDA or BLA must be reviewed and approved by the FDA.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>According to industry statistics, it generally takes 10 to 15 years to research, develop and bring to market a new prescription medicine in the United States. In light of the steps and complexities involved, the successful development of our potential products is highly uncertain. Actual timelines and costs to develop and commercialize a product are subject to enormous variability and are very difficult to predict. In addition, various statutes and regulations also govern or influence the manufacturing, safety reporting, labeling, storage, record keeping and marketing of each product.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>The lengthy process of seeking these regulatory reviews and approvals, and the subsequent compliance with applicable statutes and regulations, require the expenditure of substantial resources. Any failure by us to obtain, or any delay in obtaining, regulatory approvals could materially adversely affect our business. In responding to an NDA or BLA submission, the FDA may grant marketing approval, may request additional information, may deny the application if it determines that the application does not provide an adequate basis for approval, and may also refuse to review an application that has been submitted if it determines that the application does not provide an adequate basis for filing and review. We cannot provide assurance that any approval required by the FDA will be obtained on a timely basis, if at all. </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>For a more complete discussion of the risks and uncertainties associated with completing development of potential products, see the sub-section titled &#8220;Delays in the commencement of clinical testing of our current and potential product candidates could result in increased costs to us and delay our ability to generate revenues&#8221; and &#8220;Obtaining regulatory approvals to market our product candidates in the United States and other countries is a costly and lengthy process and we cannot predict whether or when we will be permitted to commercialize our product candidates&#8221; in Part II, Item 1A entitled &#8220;Risk Factors&#8221; and elsewhere in this quarterly report.</font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">General and Administrative Expenses</font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>General and administrative expenses were $5.3 million and $14.4 million for the three and six months ended June 30, 2011, respectively, compared to $4.5 million and $8.3 million for the comparable 2010 periods. The increase in general and administrative expenses in 2011 compared to 2010 primarily reflects expenses incurred pursuant to the separation agreement executed in February 2011 with Thomas B. Okarma Ph.D., M.D., our former CEO, which includes $3.5 million in non-cash stock-based compensation expense associated with the modification of outstanding equity awards held by Dr. Okarma. The increase also reflects higher corporate legal and consulting fees and increased legal costs associated with our patents.</font></div>

<div>&#160;</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">20</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Unrealized Gain on Derivatives</font></font></div>

<div>&#160;</div>

<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">Unrealized gain on fair value of derivatives reflects a non-cash adjustment for changes in fair value of warrants to purchase common stock and options held by non-employees that are classified as current liabilities. Derivatives classified as assets or liabilities are marked to fair value at each financial reporting date with any resulting unrealized gain (loss) recorded in the condensed consolidated statements of operations. The derivatives continue to be reported as an asset or liability until such time as the instruments are exercised or expire or are otherwise modified to remove the provisions which require them to be recorded as assets or liabilities, at which time these instruments are marked to fair value and reclassified from assets or liabilities to stockholders&#8217; equity. We incurred unrealized gains on derivatives of $240,000 and $279,000 for the three and six months ended June 30, 2011, respectively, compared to $172,000 and $230,000 for the comparable 2010 periods. The unrealized gains on derivatives for 2011 and 2010 primarily reflected reduced fair values of derivative liabilities resulting from shortening of their contractual terms, decreases in the market value of our stock and changes in other inputs factored into the estimate of their fair value such as the volatility of our stock. See Note 2 on Fair Value Measurements in Notes to Condensed Consolidated Financial Statements of this Form 10-Q for further discussion of the fair value of derivatives.</font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Interest and Other Income</font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Interest income was $287,000 and $583,000 for the three and six months ended June 30, 2011, respectively, compared to $194,000 and $396,000 for the comparable 2010 periods. The increase in interest and other income in 2011 compared to 2010 was due to higher cash and investment balances as a result of the receipt of $93.7 million in net proceeds in December 2010 from an underwritten public offering of our common stock. Interest earned in future periods will depend on the size of our securities portfolio and prevailing interest rates.</font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Losses Recognized Under Equity Method Investment</font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>We own 40% of ViaGen, Inc. (ViaGen), a licensee with in-house breeding services and expertise in advanced reproductive technologies for animal cloning. In accordance with the equity method of accounting, we recognized losses of $168,000 and $503,000 for the three and six months ended June 30, 2011, respectively, compared to $496,000 and $892,000 for the comparable 2010 periods for our proportionate share of ViaGen&#8217;s losses. See Note 3 on Equity Method Investment in Notes to Condensed Consolidated Financial Statements of this Form 10-Q for further discussion of ViaGen. </font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Interest and Other Expense</font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Interest and other expense was $31,000 and $64,000 for the three and six months ended June 30, 2011, respectively, compared to $25,000 and $52,000 for the comparable 2010 periods. The increase in interest and other expense in 2011 compared to 2010 was primarily due to higher bank charges as a result of higher cash and investment balances.</font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Net Loss </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Net loss was $21.1 million and $45.5 million for the three and six months ended June 30, 2011, respectively, compared to $17.0 million and $33.7 million for the comparable 2010 periods. The increase in net loss in 2011 compared to 2010 was primarily due to higher clinical trial costs for start-up and enrollment of four Phase 2 clinical trials of imetelstat and the Phase 1 clinical trial for GRNOPC1, increased clinical drug product purchases and manufacturing costs for imetelstat and GRN1005 and higher personnel costs, which primarily consisted of non-cash stock-based compensation expense. </font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">LIQUIDITY AND CAPITAL RESOURCES</font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Cash, restricted cash, cash equivalents and marketable securities at June 30, 2011 were $192.2 million, compared to $221.3 million at December 31, 2010. We have an investment policy to invest these funds in liquid, investment grade securities, such as interest-bearing money market funds, certificates of deposit, municipal securities, U.S. government and agency securities, corporate notes, commercial paper and asset-backed securities. Our investment portfolio does not contain securities with exposure to sub-prime mortgages, collateralized debt obligations or auction rate securities and, to date, we have not recognized an other-than-temporary impairment on our marketable securities or any significant changes in aggregate fair value that would impact our cash resources or liquidity. To date, we have not experienced lack of access to our invested cash and cash equivalents; however, we cannot provide assurances that access to our invested cash and cash equivalents will </font><font size="2" style="FONT-FAMILY: Times New Roman">not be impacted by adverse conditions in the financial markets. The decrease in cash, restricted cash, cash equivalents and marketable securities in 2011 was the result of use of cash for operations. </font></div>

<div>&#160;</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">21</font></div>

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<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">We estimate that our existing capital resources, interest income, proceeds from our product-backed loan with the California Institute for Regenerative Medicine and amounts available to us under our equipment financing facility will be sufficient to fund our current level of operations through at least December 2012. However, our future capital requirements will be substantial. Changes in our research and development plans or other changes affecting our operating expenses or cash balances may result in the expenditure of available resources before such time. Factors that may require us to use our available capital resources sooner than we anticipate include:</font></div>

<ul style="FONT-SIZE: 10pt">
<li><font size="2" style="FONT-FAMILY: Times New Roman">continued clinical development of our product candidates, imetelstat, GRN1005 and GRNOPC1;<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">our ability to meaningfully reduce manufacturing costs of current product candidates;<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">future clinical trial results;<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">progress of product and preclinical development of our other product candidates, such as GRNCM1, GRNIC1 and GRNCHND1;<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">cost and timing of regulatory approvals; and<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">filing, maintenance, prosecution, defense and enforcement of patent claims and other intellectual property rights.</font> </li>
</ul>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>If our capital resources are insufficient to meet future capital requirements, we will need to raise additional capital to fund our operations. We anticipate that we would need to seek additional funding through strategic collaborations, public or private equity financings, equipment loans or other financing sources that may be available. However, we may be unable to raise sufficient additional capital when we need it, on favorable terms or at all. If we are unable to obtain adequate funds on reasonable terms, we may be required to curtail operations significantly or obtain funds by entering into financing, supply or collaboration agreements on unattractive terms or we may be required to relinquish rights to technology or product candidates or to grant licenses on terms that are unfavorable to us. </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font><font style="DISPLAY: inline; FONT-STYLE: italic">Cash Flows from Operating Activities. </font></font><font size="2" style="FONT-FAMILY: Times New Roman">Net cash used in operations for the six months ended June 30, 2011 and 2010 was $26.8 million and $19.2 million, respectively. The increase in net cash used for operations in 2011 was primarily the result of higher clinical trial costs for start-up and enrollment of four Phase 2 clinical trials of imetelstat and the Phase 1 clinical trial for GRNOPC1 and increased clinical&#160;drug product purchases and manufacturing costs for imetelstat and GRN1005. </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font><font style="DISPLAY: inline; FONT-STYLE: italic">Cash Flows from Investing Activities. </font></font><font size="2" style="FONT-FAMILY: Times New Roman">Net cash provided by investing activities for the six months ended June 30, 2011 and 2010 was $12.5 million and $11.7 million, respectively. The increase in net cash provided by investing activities reflected higher proceeds from maturities of marketable securities and lower purchases of property and equipment, partially offset by higher purchases of marketable securities.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>As of June 30, 2011, we had approximately $500,000 available for borrowing under our equipment financing facility. We renewed the commitment for this equipment financing facility in 2009 to further fund equipment purchases. If we are unable to renew the commitment in the future, we will use our cash resources for capital expenditures.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font><font style="DISPLAY: inline; FONT-STYLE: italic">Cash Flows from Financing Activities.</font></font><font size="2" style="FONT-FAMILY: Times New Roman"> Net cash provided by financing activities for the six months ended June 30, 2011 and 2010 was $288,000 and $10.2 million, respectively. In January 2010, we exchanged outstanding warrants held by certain institutional investors for shares of our common stock. In connection with the warrant exchange, we sold 1,481,481 shares of our common stock and warrants to purchase an additional 740,741 shares of common stock to the investors for gross proceeds of $10.0 million.</font></div>

<div>&#160;</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">22</font></div>

<div>&#160;</div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Contractual Obligations</font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160; As of June 30, 2011, our contractual obligations for the next five years and thereafter were as follows:</font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="82%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
<td colspan="14" nowrap width="16%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Principal Payments Due by Period</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="82%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
<td colspan="2" nowrap width="2%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Remainder</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
<td colspan="2" nowrap width="3%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2012-</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
<td colspan="2" nowrap width="2%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2014-</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
<td colspan="2" nowrap width="2%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">After</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="82%" style="BORDER-BOTTOM: #000000 1pt solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Contractual Obligations </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman"><font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(1)</font></font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Total</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="2%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">in 2011</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2013</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="2%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2015</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="2%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">2015</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="82%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="14" nowrap width="16%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">(Amounts in thousands)</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="82%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Equipment leases</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160; </font></td>
<td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">35</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160; </font></td>
<td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">10</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160; </font></td>
<td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">25</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160; </font></td>
<td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160; </font></td>
<td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="82%"><font size="2" style="FONT-FAMILY: times new roman">Operating leases <font style="FONT-WEIGHT: bold; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(2)</font></font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="2%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="2%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">&#8212;</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="82%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Research funding <font style="FONT-WEIGHT: bold"><font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(3)</font></font></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="2%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">2,772</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">858</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="2%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">1,022</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">367</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">525</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="82%"><font size="2" style="FONT-FAMILY: times new roman">Total contractual cash obligations</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="2%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">2,807</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">868</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="2%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">1,047</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">367</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="1%" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: times new roman">525</font></td>
</tr><tr style="LINE-HEIGHT: 4pt;">
<td align="left" nowrap width="82%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="2%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="2%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="1%">&#160;</td>
</tr></table>
</div>

____________________<br>
&#160;<br>
<div>
<table border="0" cellpadding="0" cellspacing="0" style="">
<tr>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(1)</font></td>
<td nowrap valign="top">&#160;&#160;&#160;&#160;&#160; </td>
<td width="100%"><font size="2" style="FONT-FAMILY: times new roman">This table does not include any milestone payments under research collaborations or license agreements as the timing and likelihood of such payments are not known. In addition, this table does not include payments under our severance plan if there were a change in control of the Company or severance payments to key employees under involuntary termination.</font></td>
</tr><tr>
<td colspan="3" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(2)</font></td>
<td nowrap valign="top">&#160;</td>
<td width="100%"><font size="2" style="FONT-FAMILY: times new roman">In March 2008, we issued 742,158 shares of our common stock to the lessor of our premises at 200 and 230 Constitution Drive in payment of our monthly rental obligation from August 1, 2008 through July 31, 2012. In January 2010 and April 2010, we issued an aggregate of 187,999 shares of our common stock to the lessor of our premises at 149 Commonwealth Drive in payment of our monthly rental obligation from May 1, 2010 through July 31, 2012. The fair value of the common stock issuances has been recorded as a prepaid asset and is being amortized to rent expense on a straight-line basis over the lease periods. Future minimum payments under non-cancelable operating leases are zero through July 31, 2012, as a result of the prepayments of rent with our common stock.</font></td>
</tr><tr>
<td colspan="3" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(3)</font></td>
<td nowrap valign="top">&#160;</td>
<td width="100%"><font size="2" style="FONT-FAMILY: times new roman">Research funding is comprised of sponsored research commitments at various laboratories around the world.</font></td>
</tr></table>
</div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Off-Balance Sheet Arrangements </font></font></div>

<div>&#160;</div>

<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">None.</font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a name="7">ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</a> </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>The following discussion about our market risk disclosures contains forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements. We are exposed to market risk related to changes in interest rates and foreign currency exchange rates. We do not use derivative financial instruments for speculative or trading purposes.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font><font style="DISPLAY: inline; FONT-STYLE: italic">Credit Risk.</font></font><font size="2" style="FONT-FAMILY: Times New Roman"> We place our cash, restricted cash, cash equivalents and marketable securities with six financial institutions in the United States and Scotland. Deposits with banks may exceed the amount of insurance provided on such deposits. While we monitor the cash balances in our operating accounts and adjust the cash balances as appropriate, these cash balances could be impacted if the underlying financial institutions fail or could be subject to other adverse conditions in the financial markets. Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash equivalents and marketable securities. Cash equivalents and marketable securities currently consist of money market funds, certificates of deposit, municipal securities, U.S. government-sponsored enterprise securities, commercial paper and corporate notes. Our investment policy, approved by our Board of Directors, limits the amount we may invest in any one type of investment issuer, thereby reducing credit risk concentrations. We limit our credit and liquidity risks through our investment policy and through regular reviews of our portfolio against our policy. To date, we have not experienced any loss or lack of access to cash in our operating accounts or to our cash equivalents and marketable securities in our investment portfolios.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font><font style="DISPLAY: inline; FONT-STYLE: italic">Interest Rate Risk.</font></font><font size="2" style="FONT-FAMILY: Times New Roman"> The primary objective of our investment activities is to manage our marketable securities portfolio to preserve principal and liquidity while maximizing the return on the investment portfolio through the full investment of available funds without significantly increasing risk. To achieve this objective, we invest in widely diversified investments consisting of both fixed rate and floating rate interest earning instruments, which both carry a degree of interest rate risk. </font><font size="2" style="FONT-FAMILY: Times New Roman">Fixed rate securities may have their fair value adversely impacted due to a rise in interest rates, while floating rate securities may produce less income than expected if interest rates fall. Due in part to these factors, our future interest income may fall short of expectations due to changes in market conditions and in interest rates or we may suffer losses in principal if forced to sell securities which may have declined in fair value due to changes in interest rates.</font></div>

<div>&#160;</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">23</font></div>

<div>&#160;</div>

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<div align="left">&#160;</div>

<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">The fair value of our cash equivalents and marketable securities at June 30, 2011 was $189.0 million. These investments include $29.7 million of cash equivalents that are due in less than 90 days, $119.7 million of short-term investments that are due in less than one year and $39.6 million of long-term investments that are due in one to two years. We primarily invest our marketable securities portfolio in securities with at least an investment grade rating to minimize interest rate and credit risk as well as to provide for an immediate source of funds. Although changes in interest rates may affect the fair value of the marketable securities portfolio and cause unrealized gains or losses, such gains or losses would not be realized unless the investments are sold. Due to the nature of our investments, which are primarily money market funds, certificates of deposit, municipal securities, U.S. government-sponsored enterprise securities, commercial paper and corporate notes, we have concluded that there is no material interest rate risk exposure.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font><font style="DISPLAY: inline; FONT-STYLE: italic">Foreign Currency Exchange Risk.</font></font><font size="2" style="FONT-FAMILY: Times New Roman"> Because we translate foreign currencies into U.S. dollars for reporting purposes, currency fluctuations can have an impact, though generally immaterial, on our operating results. We believe that our exposure to currency exchange fluctuation risk is insignificant primarily because our wholly-owned international subsidiary, Geron Bio-Med Ltd., satisfies its financial obligations almost exclusively in its local currency. As of June 30, 2011, there was an immaterial currency exchange impact from our intercompany transactions. As of June 30, 2011, we did not engage in foreign currency hedging activities. </font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a name="8">ITEM 4. CONTROLS AND PROCEDURES</a></font></font><font size="2" style="FONT-FAMILY: Times New Roman"> </font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>(a) </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Evaluation of Disclosure Controls and Procedures</font></font><font size="2" style="FONT-FAMILY: Times New Roman">. The Securities and Exchange Commission defines the term &#8220;disclosure controls and procedures&#8221; to mean a company&#8217;s controls and other procedures that are designed to ensure that information required to be disclosed in the reports that it files or submits under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission&#8217;s rules and forms. Our Interim Chief Executive Officer (CEO) and our Chief Accounting Officer (CAO) have concluded, based on the evaluation of the effectiveness of our disclosure controls and procedures by our management, with the participation of our CEO and our CAO, as of the end of the period covered by this report, that our disclosure controls and procedures were effective, at a reasonable assurance level, for this purpose. </font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>(b) </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Changes in Internal Controls Over Financial Reporting</font></font><font size="2" style="FONT-FAMILY: Times New Roman">. There was no change in our internal control over financial reporting for the three months ended June 30, 2011 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.</font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>It should be noted that any system of controls, however well designed and operated, can provide only reasonable assurance, and not absolute assurance, that the objectives of the system are met. In addition, the design of any control system is based in part upon certain assumptions about the likelihood of future events. Because of these and other inherent limitations of control systems, there can be no assurance that any design will succeed in achieving its stated goals in all future circumstances.</font></div>

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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-STYLE: normal; FONT-FAMILY: times new roman">PART II. OTHER INFORMATION</font></font><font size="2" style="FONT-FAMILY: Times New Roman"> </font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a name="9">ITEM 1. LEGAL PROCEEDINGS</a></font></font><font size="2" style="FONT-FAMILY: Times New Roman"> </font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>None. </font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a name="10">ITEM 1A. RISK FACTORS</a> </font></font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Our business is subject to various risks, including those described below. You should carefully consider these risk factors, together with all of the other information included in this Form 10-Q. Any of these risks could materially adversely affect our business, operating results and financial condition. </font></div>

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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">RISKS RELATED TO OUR BUSINESS </font></font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Our business is at an early stage of development. </font></font></font></div>

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<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">Our business is at an early stage of development, in that we do not yet have product candidates in late-stage clinical trials or on the market. We have sponsored six Phase 1 or 1 / 2 trials of our lead anti-cancer drug candidate, imetelstat, in patients with chronic lymphoproliferative diseases, solid tumor malignancies, non-small cell lung cancer, breast cancer and multiple myeloma and all of those trials have now completed patient enrollment. We are advancing imetelstat through Phase 2 trials in four different malignancies and each of these trials is currently open for patient enrollment. In October 2010, the first patient was enrolled into the Phase 1 multi-center trial that is designed to establish the safety of GRNOPC1 in patients with &#8220;complete&#8221; American Spinal Injury Association (ASIA) grade A subacute thoracic spinal cord injuries. </font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>On December 6, 2010, we entered into an exclusive license agreement with Angiochem, Inc. (Angiochem) with respect to Angiochem&#8217;s proprietary peptide technology that facilitates the transfer of anti-cancer compounds across the blood-brain barrier (BBB) to enable the treatment of primary brain cancers and cancers that have metastasized to the brain. The exclusive license agreement covers Angiochem&#8217;s proprietary receptor-targeting peptides conjugated to tubulin disassembly inhibitors, including ANG1005 (now GRN1005), a novel taxane derivative. We plan to initiate a Phase 2 clinical trial of GRN1005 in the second half of 2011 in patients with brain metastases. </font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Our ability to develop product candidates that progress to and through clinical trials is subject to our ability to, among other things:</font></div>

<ul style="FONT-SIZE: 10pt">
<li><font size="2" style="FONT-FAMILY: Times New Roman">succeed in our research and development efforts;<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">select therapeutic compounds or cell therapies for development;<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">obtain required regulatory approvals;<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">finance, or obtain additional financing for, our operations, including clinical trials;<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">manufacture product candidates; and<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">collaborate successfully with clinical trial sites, academic institutions, physician investigators, clinical research organizations and other third parties.</font> </li>
</ul>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Potential lead drug compounds or other product candidates and technologies require significant preclinical and clinical testing prior to regulatory approval in the United States and other countries. Our product candidates may prove to have undesirable and unintended side effects or other characteristics adversely affecting their safety, efficacy or cost-effectiveness that could prevent or limit their commercial use. In addition, our product candidates may not prove to be more effective for treating disease or injury than current therapies. Accordingly, we may have to delay or abandon efforts to research, develop or obtain regulatory approvals to market our product candidates. In addition, we will need to determine whether any of our potential products can be manufactured in commercial quantities at an acceptable cost. Our research and development efforts may not result in a product that can be or will be approved by regulators or marketed successfully. Competitors may have proprietary rights which prevent us from developing and marketing our products or they may sell similar, superior or lower-cost products. Because of the significant scientific, regulatory and commercial milestones that must be reached for any of our development programs or product candidates to be successful, any program or product candidate may be abandoned, even after we have expended significant resources, such as our investments or prospective investments in telomerase technology, receptor-targeting peptide technology to cross the BBB, hESCs, imetelstat, GRN1005 and GRNOPC1, which could adversely affect our business and materially and adversely affect our stock price. </font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>The science and technology of telomere biology, telomerase, receptor-targeting peptides that cross the BBB and hESCs are relatively new. There is no precedent for the successful commercialization of therapeutic product candidates based on these technologies. Further, the information we have related to the ability of GRN1005 to penetrate brain tissue and its anti-tumor activity is preliminary and based on Phase 1 clinical studies. Therefore, our development programs are particularly risky and uncertain. In addition, we, our licensees or our collaborators must undertake significant research and development activities to develop product candidates based on these technologies, which will require additional funding and may take years to accomplish, if ever. </font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Restrictions on the use of hESCs, political commentary and the ethical and social implications of research involving hESCs could prevent us from developing or gaining acceptance for commercially viable products based upon such stem cells and adversely affect the market price of our common stock. </font></font></font></div>

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<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">Some of our most important programs involve the use of stem cells that are derived from human embryos. The use of hESCs gives rise to ethical and social issues regarding the appropriate use of these cells. Our research related to hESCs may become the subject of adverse commentary or publicity, which could significantly harm the market price of our common stock. </font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Some political and religious groups have voiced opposition to our technology and practices. We use stem cells derived from human embryos that had been created for </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">in vitro</font></font><font size="2" style="FONT-FAMILY: Times New Roman"> fertilization procedures but were no longer desired or suitable for that use and were donated with appropriate informed consent. Many research institutions, including some of our scientific collaborators, have adopted policies regarding the ethical use of human embryonic tissue. These policies may have the effect of limiting the scope of research conducted using hESCs, thereby impairing our ability to conduct research in this field.</font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Government-imposed restrictions with respect to use of embryos or hESCs in research and development could have a material effect on our business, including:</font></div>

<ul style="FONT-SIZE: 10pt">
<li><font size="2" style="FONT-FAMILY: Times New Roman">harming our ability to establish critical partnerships and collaborations;<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">delaying or preventing progress in our research, product development or clinical testing; and<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">preventing commercialization of therapies derived from hESCs.</font> </li>
</ul>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman">These potential effects and others may result in a decrease in the market price of our common stock. </font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Changes in governmental regulations relating to funding of stem cell research may also materially impact our product development programs and result in an increase to the volatility of the market price of our common stock. For example, in March 2009 President Obama issued Executive Order 13505, entitled &#8220;Removing Barriers to Responsible Scientific Research Involving Human Stem Cells.&#8221; As a result, the Secretary of Health and Human Services, through the Director of the National Institutes of Health (NIH), issued new guidelines relating to human stem cell research to allow federal funding for research using hESCs derived from embryos created by </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">in vitro</font></font><font size="2" style="FONT-FAMILY: Times New Roman"> fertilization for reproductive purposes, but are no longer needed for that purpose. However, in August 2010 the Federal District Court for the District of Columbia issued a preliminary injunction prohibiting federal funding for hESC research. The injunction was initially stayed by a federal appeals court and then overturned by the appeals court in April 2011. The case will now continue and may ultimately be appealed to the United States Supreme Court. Meanwhile, certain states are considering enacting, or already have enacted, legislation relating to stem cell research, including California, whose voters approved Proposition 71 to provide state funds for stem cell research in November 2004. In the United Kingdom and other countries, the use of embryonic or fetal tissue in research (including the derivation of hESCs) is regulated by the government, whether or not the research involves government funding.</font></div>

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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">RISKS RELATED TO OUR FINANCIAL POSITION AND NEED FOR ADDITIONAL FINANCING</font></font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">We have a history of losses and anticipate future losses, and continued losses could impair our ability to sustain operations.</font></font></font><font size="2" style="FONT-FAMILY: Times New Roman"> </font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>We have incurred operating losses every year since our operations began in 1990. As of June 30, 2011, our accumulated deficit was approximately $734.1 million. Losses have resulted principally from costs incurred in connection with our research and development activities and from general and administrative costs associated with our operations. We expect to incur additional operating losses and, as our development efforts and clinical testing activities continue, our operating losses may increase in size.</font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Substantially all of our revenues to date have been research support payments under collaboration agreements and revenues from our licensing arrangements. We may be unsuccessful in entering into any new corporate collaboration or license agreements that result in revenues. We do not expect that the revenues generated from these arrangements will be sufficient alone to continue or expand our research or development activities and otherwise sustain our operations. </font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>While we receive royalty revenue from licenses, we do not currently expect to receive sufficient royalty revenues from these licenses to independently sustain our operations. Our ability to continue or expand our research and development </font><font size="2" style="FONT-FAMILY: Times New Roman">activities and otherwise sustain our operations is dependent on our ability, alone or with others, to, among other things, manufacture and market therapeutic products.</font></div>

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<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">We also expect to experience negative cash flow for the foreseeable future as we fund our operating losses and capital expenditures. This will result in decreases in our working capital, total assets and stockholders&#8217; equity, which may not be offset by future financings. We will need to generate significant revenues to achieve profitability. We may not be able to generate these revenues, and we may never achieve profitability. Our failure to achieve profitability could negatively impact the market price of our common stock. Even if we do become profitable, we cannot assure you that we would be able to sustain or increase profitability on a quarterly or annual basis. </font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">We will need additional capital to conduct our operations and develop our product candidates, and our ability to obtain the necessary funding is uncertain.</font></font></font><font style="FONT-FAMILY: Times New Roman"> </font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>We will require substantial capital resources in order to conduct our operations and develop our product candidates, and we cannot assure you that our existing capital resources, interest income and equipment financing arrangement will be sufficient to fund future planned operations. The timing and degree of any future capital requirements will depend on many factors, including:</font></div>

<ul style="FONT-SIZE: 10pt">
<li><font size="2" style="FONT-FAMILY: Times New Roman">the accuracy of the assumptions underlying our estimates for our capital needs for the remainder of 2011 and beyond;<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">the magnitude and scope of our research and development programs;<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">the progress we make in our research and development programs, preclinical development and clinical trials;<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">our ability to establish, enforce and maintain strategic arrangements for research, development, clinical testing, manufacturing and marketing;<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">the number and type of product candidates we pursue;<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">the time and costs involved in obtaining regulatory approvals and clearances; and<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">the costs involved in preparing, filing, prosecuting, maintaining, defending and enforcing patent claims.</font> </li>
</ul>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Our current committed sources of additional capital are limited to our equipment financing facility and our loan arrangement with the California Institute for Regenerative Medicine (CIRM). Notably, the receipt of future disbursements from our loan arrangement with CIRM is subject to the achievement of various milestones and proceeds received, if any, must be used solely to fund the clinical development of GRNOPC1 for the treatment of spinal cord injury. Additional financing through strategic collaborations, public or private equity financings, capital lease transactions or other financing sources may not be available on acceptable terms, or at all. The receptivity of the public and private equity markets to proposed financings is substantially affected by the general economic, market and political climate and by other factors which are unpredictable and over which we have no control. Additional equity financings, if we obtain them, could result in significant dilution to our stockholders. Further, in the event that additional funds are obtained through arrangements with collaborative partners, these arrangements may require us to relinquish rights to some of our technologies, product candidates or proposed products that we would otherwise seek to develop and commercialize ourselves. If sufficient capital is not available, we may be required to delay, reduce the scope of or eliminate one or more of our programs, any of which could have a material adverse effect on our business.</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Our loan arrangement with the California Institute for Regenerative Medicine (CIRM) contains progress milestones that must be achieved prior to receiving future disbursements, as well as certain covenants that limit our flexibility to use the proceeds and in operating our business. </font></font></font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>On August 1, 2011, we entered into a loan agreement with CIRM that provides us with a product-backed loan in an amount up to approximately $25.0 million to support the clinical development of our human embryonic stem-cell derived oligodendrocyte progenitor cell therapy (GRNOPC1) for the treatment of spinal cord injury. Our ability to receive any future disbursements under the loan is subject to the achievement of certain progress milestones set forth in the Notice of Loan Award (NLA). Whether we can achieve these milestones and, as a result, receive future disbursements under the loan is uncertain.</font></div>

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<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">The loan agreement with CIRM contains certain restrictions on our ability to use the proceeds from the loan, specifically, the proceeds we receive must be used solely to fund the clinical development of GRNOPC1 for the treatment of spinal cord injury. In addition, the loan agreement contains covenants that limit our flexibility to engage in specified types of transactions, including, among other things:</font></div>

<ul style="FONT-SIZE: 10pt">
<li><font size="2" style="FONT-FAMILY: Times New Roman">maintaining sufficient capital to fund our portion of the GRNOPC1 project costs and the outstanding loan balance;<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">selling, transferring, leasing or disposing of certain of our assets;<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">creating, incurring or assuming additional indebtedness related to our GRNOPC1 project;<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">encumbering or permitting liens on certain of our assets;<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">making restricted payments, including paying dividends on, repurchasing or making cash distributions with respect to our common stock; </font><font size="2" style="FONT-FAMILY: Times New Roman">making specified investments (including loans and advances);<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">consolidating, merging, selling or otherwise disposing of all or substantially all of our assets; and<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">entering into certain transactions with our affiliates.</font> </li>
</ul>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman">A breach of any of these covenants could result in a default under our loan agreement. Upon the occurrence of an event of default under our loan agreement, CIRM could elect to declare all amounts outstanding to be immediately due and payable and terminate all commitments regarding future disbursements.</font></div>

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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">RISKS RELATED TO CLINICAL AND COMMERCIALIZATION ACTIVITIES</font></font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Delays in the commencement of clinical testing of our current and potential product candidates could result in increased costs to us and delay our ability to generate revenues.</font></font></font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>The commencement of clinical trials can be delayed for a variety of reasons, including delays in:</font></div>

<ul style="FONT-SIZE: 10pt">
<li><font size="2" style="FONT-FAMILY: Times New Roman"><font style="FONT-FAMILY: Times New Roman">demonstrating sufficient safety and efficacy to obtain regulatory clearance to commence a clinical trial;<br>
&#160;</font></font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman"><font style="FONT-FAMILY: Times New Roman">manufacturing sufficient quantities or producing drugs meeting our quality standards of a product candidate;<br>
&#160;</font></font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman"><font style="FONT-FAMILY: Times New Roman">obtaining approval of an IND application or proposed trial design from the FDA;<br>
&#160;</font></font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman"><font style="FONT-FAMILY: Times New Roman">reaching agreement on acceptable terms with our collaborators on all aspects of the clinical trial, including the contract research organizations (CROs) and the trial sites; and<br>
&#160;</font></font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">obtaining institutional review board approval to conduct a clinical trial at a prospective site.</font><font style="FONT-FAMILY: Times New Roman"> </font></li>
</ul>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>In addition, clinical trials may be delayed due to insufficient patient enrollment, which is a function of many factors, including the size and nature of the patient population, the nature of the protocol, the proximity of patients to clinical sites, the availability of effective treatments for the relevant disease, and the eligibility criteria for the clinical trial. Delays in commencing clinical testing of our product candidates could prevent or delay us from obtaining approval for our product candidates.</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">We do not have experience as a company in conducting large-scale clinical trials, or in other areas required for the successful commercialization and marketing of our product candidates.</font></font></font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>We have no experience as a company in conducting large-scale, late stage clinical trials. We cannot be certain that planned clinical trials will begin or be completed on time, if at all. Large-scale trials would require either additional financial and management resources, or reliance on third-party clinical investigators, CROs or consultants. Relying on third-party clinical investigators or CROs may force us to encounter delays that are outside of our control. Any such delays could have a material adverse effect on our business.</font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>We also do not currently have marketing and distribution capabilities for our product candidates. Developing an internal sales and distribution capability would be an expensive and time-consuming process. We may enter into agreements with third parties that would be responsible for marketing and distribution. However, these third parties may not be capable of </font><font size="2" style="FONT-FAMILY: Times New Roman">successfully selling any of our product candidates. The inability to commercialize and market our product candidates could materially adversely affect our business.</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Obtaining regulatory approvals to market our product candidates in the United States and other countries is a costly and lengthy process and we cannot predict whether or when we will be permitted to commercialize our product candidates.</font></font></font><font style="FONT-FAMILY: Times New Roman"> </font></div>

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<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">Federal, state and local governments in the United States and governments in other countries have significant regulations in place that govern many of our activities and may prevent us from creating commercially viable products from our discoveries. The regulatory process, particularly for biopharmaceutical product candidates like ours, is uncertain, can take many years and requires the expenditure of substantial resources. </font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Our potential product candidates will require extensive preclinical and clinical testing prior to submission of any regulatory application to commence commercial sales. In particular, human pharmaceutical therapeutic product candidates are subject to rigorous requirements of the FDA in the United States and similar health authorities in other countries in order to demonstrate safety and efficacy. Data obtained from preclinical and clinical activities is susceptible to varying interpretations that could delay, limit or prevent regulatory agency approvals. In addition, delays or rejections may be encountered as a result of changes in regulatory agency policy during the period of product development and/or the period of review of any application for regulatory agency approval for a product candidate.</font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Any product candidate that we or our collaborators develop must receive all relevant regulatory agency approvals before it may be marketed in the United States or other countries. Obtaining regulatory approval is a lengthy, expensive and uncertain process. Because certain of our product candidates involve the application of new technologies or are based upon a new therapeutic approach, they may be subject to substantial additional review by various government regulatory authorities, and, as a result, the process of obtaining regulatory approvals for them may proceed more slowly than for product candidates based upon more conventional technologies.</font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Delays in obtaining regulatory agency approvals could:</font></div>

<ul style="FONT-SIZE: 10pt">
<li><font size="2" style="FONT-FAMILY: Times New Roman">significantly harm the marketing of any products that we or our collaborators develop;<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">impose costly procedures upon our activities or the activities of our collaborators;<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">diminish any competitive advantages that we or our collaborators may attain; or<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">adversely affect our ability to receive royalties and generate revenues and profits.</font> </li>
</ul>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman">Even if we commit the necessary time and resources, the required regulatory agency approvals may not be obtained for any product candidates developed by us or in collaboration with us. If we obtain regulatory agency approval for a new product, this approval may entail limitations on the indicated uses for which it can be marketed that could limit the potential commercial use of the product.</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Failure to achieve continued compliance with government regulation over approved products could delay or halt commercialization of our products.</font></font></font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Approved products and their manufacturers are subject to continual review, and discovery of previously unknown problems with a product or its manufacturer may result in restrictions on the product or manufacturer, including withdrawal of the product from the market. The future sale by us or our collaborators of any commercially viable product will be subject to government regulation from several standpoints, including the processes of:</font></div>

<ul style="FONT-SIZE: 10pt">
<li><font size="2" style="FONT-FAMILY: Times New Roman">manufacturing;<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">advertising and promoting;<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">selling and marketing;<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">labeling; and<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">distribution.</font> </li>
</ul>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman">If, and to the extent that, we are unable to comply with these regulations, our ability to earn revenues will be materially and negatively impacted.</font></div>

<div>&#160;</div>

<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">Failure to comply with regulatory requirements can result in severe civil and criminal penalties, including but not limited to:</font></div>

<ul style="FONT-SIZE: 10pt">
<li><font size="2" style="FONT-FAMILY: Times New Roman">recall or seizure of products;<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">injunction against the manufacture, distribution and sales and marketing of products; and<br>
&#160;</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">criminal prosecution.</font> </li>
</ul>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman">The imposition of any of these penalties or other commercial limitations could significantly impair our business, financial condition and results of operations.</font><font style="FONT-FAMILY: Times New Roman"> </font></div>

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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">RISKS RELATED TO PROTECTING OUR INTELLECTUAL PROPERTY</font></font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Impairment of our intellectual property rights may adversely affect the value of our technologies and product candidates and limit our ability to pursue their development.</font></font></font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Protection of our proprietary technology is critically important to our business. Our success will depend in part on our ability to obtain and enforce our patents and maintain trade secrets, both in the United States and in other countries. Further, our patents may be challenged, invalidated or circumvented, and our patent rights may not provide proprietary protection or competitive advantages to us. In the event that we are unsuccessful in obtaining and enforcing patents, we may not be able to further develop or commercialize our product candidates and our business would be negatively impacted. </font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>The patent positions of pharmaceutical and biopharmaceutical companies, including ours, are highly uncertain and involve complex legal and technical questions. In particular, legal principles for biotechnology and pharmaceutical patents in the United States and in other countries are evolving, and the extent to which we will be able to obtain patent coverage to protect our technology, or enforce issued patents, is uncertain. In the United States, recent court decisions in patent cases as well as proposed legislative changes to the patent system only exacerbate this uncertainty. Furthermore, significant amendments to the regulations governing the process of obtaining patents were proposed in a new rule package by the United States Patent and Trademark Office (the Patent Office) in 2007. The proposed new rules were widely regarded as detrimental to the interests of biotechnology and pharmaceutical companies. The implementation of the rule package was blocked by a court injunction requested by a pharmaceutical company. The Patent Office challenged the court decision through an appeal to the U.S. Court of Appeals for the Federal Circuit (CAFC), but the appeal was dismissed in November 2009, after the Patent Office changed course and rescinded the proposed new rules. At this point we do not know whether the Patent Office will attempt to introduce new rules to replace those that were withdrawn or whether any such new rules would also be challenged.</font><font style="FONT-FAMILY: Times New Roman"> </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>In Europe, the European Patent Convention prohibits the granting of European patents for inventions that concern &#8220;uses of human embryos for industrial or commercial purposes.&#8221; The European Patent Office (EPO) was earlier interpreting this prohibition broadly, and applying it to reject claims in any patent application that pertained to hESCs. An early patent application filed by the Wisconsin Alumni Research Foundation (WARF) with claims covering the original isolation of hESCs was appealed as a test case, and examination of other hESC patent applications was suspended while that case was heard. In November 2008, the EPO Enlarged Board of Appeals held that the claims in the WARF application were unpatentable. Geron holds a worldwide license under this patent family, and since the decision is not subject to further appeal, this WARF patent family will not afford protection to Geron&#8217;s hESC-based product candidates in Europe. However, the reason given by the EPO for the decision was narrowly focused: the EPO found the claims objectionable on the basis that at the time that WARF filed the patent application it was necessary to use a human embryo to obtain hESCs since no cell lines were available. In contrast, the hESCs that we use, and which we employed in the technologies claimed in our own European patent applications, were sourced from established hESC lines. Consequently, the decision in the WARF case does not directly address the patentability of the subject matter in our filings. The EPO has recently restarted examination of hESC patent applications, but its application of the WARF decision to these later filed cases is still developing. At this time, we do not know whether or to what extent we will be able to obtain patent protection for our hESC technologies in Europe. If we are unable to protect our inventions related to hESCs in Europe, our business would be negatively impacted.</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Challenges to our patent rights can result in costly and time-consuming legal proceedings that may prevent or limit development of our product candidates.</font></font></font></div>

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<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">Publication of discoveries in scientific or patent literature tends to lag behind actual discoveries by at least several months and sometimes several years. Therefore, the persons or entities that we or our licensors name as inventors in our patents and patent applications may not have been the first to invent the inventions disclosed in the patent applications or patents, or the first to file patent applications for these inventions. As a result, we may not be able to obtain patents for discoveries that we otherwise would consider patentable and that we consider to be extremely significant to our future success.</font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Where more than one party seeks U.S. patent protection for the same technology, the Patent Office may declare an interference proceeding in order to ascertain the party to which the patent should be issued. Patent interferences are typically complex, highly contested legal proceedings, subject to appeal. They are usually expensive and prolonged, and can cause significant delay in the issuance of patents. Moreover, parties that receive an adverse decision in an interference can lose important patent rights. Our pending patent applications, or our issued patents, may be drawn into interference proceedings which may delay or prevent the issuance of patents, or result in the loss of issued patent rights. By way of example, we are currently a party to an interference proceeding that involves patent filings for making endoderm cells from hESCs. We requested that the Patent Office declare this interference after Novocell Inc. (recently renamed ViaCyte, Inc. (ViaCyte)) was granted patent claims that conflict with subject matter we filed in an earlier patent application. A number of outcomes are possible: (i) the claims may be awarded to ViaCyte; (ii) the claims may be awarded to Geron, or (iii) neither party might be found to be entitled to the claims. The decision from the Patent Office may also be subject to appeal. Since the interference is still ongoing, we cannot predict what the outcome will be.</font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Outside of the United States, certain jurisdictions, such as Europe, New Zealand and Australia, permit oppositions to be filed against the granting of patents. Because our intent is to commercialize products internationally, securing both proprietary protection and freedom to operate outside of the United States is important to our business. We are involved in both opposing the grant of patents to others through such opposition proceedings and in defending our patent applications against oppositions filed by others. For example, we have been involved in several patent oppositions before the EPO with a series of companies (GemVax, Pharmexa and KAEL-GemVax) developing GV1001, a cancer vaccine that employs a short telomerase peptide to induce an immune response against telomerase. The rights to GV1001 passed from GemVax, a Norwegian company, to Pharmexa, a Danish Company, as a result of a 2005 acquisition. In late 2008, Pharmexa reported that it sold its telomerase vaccine program to a Korean company, KAEL Co. Ltd., and the continuing company now operates under the name KAEL-GemVax. Various clinical studies of GV1001 are underway, including a Phase 3 combination study in pancreatic cancer. Pharmexa originally obtained a European patent with broad claims to the use of telomerase vaccines for the treatment of cancer, and Geron opposed that patent in 2004. In 2005, the Opposition Division (OD) of the EPO revoked the claims originally granted to Pharmexa, but permitted Pharmexa to add new, narrower claims limited to five specific small peptide fragments of telomerase. The decision was appealed to the Technical Board of Appeals (TBA). In August 2007, the TBA ruled, consistent with the decision of the OD, that Pharmexa was not entitled to the originally granted broad claims but was only entitled to the narrow claims limited to the five small peptides. KAEL-GemVax was recently granted a further related European patent covering its telomerase peptide vaccine against which we have filed an opposition. That opposition is ongoing and we cannot predict the outcome.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>In parallel, Pharmexa opposed a European patent held by Geron, the claims of which cover many facets of human telomerase, including the use of telomerase peptides in cancer vaccines. In June 2006, the OD of the EPO revoked three of the granted claims in Geron&#8217;s patent, specifically the three claims covering telomerase peptide cancer vaccines. The remaining 47 claims were upheld, and that decision was recently affirmed by the TBA. We have now been awarded a second European patent with claims to telomerase peptides, and this patent has also been opposed by KAEL-GemVax. We cannot predict the outcome of this opposition or any subsequent appeal of the decision in the opposition. </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>European opposition and appeal proceedings can take several years to reach final decision. The oppositions discussed above reflect the complexity of the patent landscape in which we operate, and illustrate the risks and uncertainties. We are also currently involved in other patent opposition proceedings in Europe and Australia.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Patent opposition proceedings are not currently available in the U.S. patent system. Legislation was previously proposed to introduce them, but so far has not been enacted into law. However, issued U.S. patents can be reexamined by the Patent Office at the request of a third party. Patents owned or licensed by Geron may therefore be subject to reexamination. As in any legal proceeding, the outcome of patent reexaminations is uncertain, and a decision adverse to our interests could result in the loss of valuable patent rights.</font></div>

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<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">In July 2006, requests were filed on behalf of the Foundation for Taxpayer and Consumer Rights (now renamed as &#8220;Consumer Watchdog&#8221;) for reexamination of three issued U.S. patents owned by WARF and relating to hESCs. These three patents (U.S. Patent Nos. 5,843,780, 6,200,806 and 7,029,913), which are the U.S. equivalents of the European WARF case discussed above, are licensed to Geron pursuant to a January 2002 license agreement with WARF. The license agreement conveys exclusive rights to Geron under the WARF patents for the development and commercialization of therapeutics based on neural cells, cardiomyocytes and pancreatic islet cells, derived from hESCs, as well as non-exclusive rights for other product opportunities. In October 2006, the Patent Office initiated the reexamination proceedings. After initially rejecting the patent claims, the Patent Office issued decisions in all three cases upholding the patentability of the claims as amended. The decisions to uphold the 5,843,780 and 6,200,806 patents are final and not subject to further appeal. Consumer Watchdog appealed the decision on the 7,029,913 patent. In April 2010, the Board of Patent Appeals and Interferences reversed the earlier decision of the Patent Office on the 7,029,913 patent. WARF will now have the opportunity to present amended claims for further examination at the Patent Office. We cooperated with WARF in these reexamination actions and expect that WARF will continue to vigorously defend its patent position. The final outcome of these or of any future reexamination proceedings cannot be determined at this time. Reduction or loss of claim scope in these WARF embryonic stem cell patents could negatively impact Geron&#8217;s proprietary position in this technology.</font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>As more groups become engaged in scientific research and product development in the areas of telomerase biology, receptor-targeting peptides that cross the BBB and embryonic stem cells, the risk of our patents being challenged through patent interferences, oppositions, reexaminations, litigation or other means will likely increase. Challenges to our patents through these procedures can be extremely expensive and time-consuming, even if the outcome is favorable to us. An adverse outcome in a patent dispute could severely harm our business by:</font></div>

<ul>
<li><font size="2" style="FONT-FAMILY: Times New Roman">causing us to lose patent rights in the relevant jurisdiction(s);<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">subjecting us to litigation, or otherwise preventing us from commercializing potential products in the relevant jurisdiction(s);<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">requiring us to obtain licenses to the disputed patents;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">forcing us to cease using the disputed technology;</font><font size="2" style="FONT-FAMILY: Times New Roman">or<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">requiring us to develop or obtain alternative technologies. </font></li>
</ul>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman">Furthermore, if such challenges to our patent rights are not resolved promptly in our favor, our existing business relationships may be jeopardized and we could be delayed or prevented from entering into new collaborations or from commercializing certain products, which could materially harm our business.</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">If we fail to meet our obligations under license agreements, we may lose our rights to key technologies on which our business depends. </font></font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Our business depends on several critical technologies that are based in part on patents licensed from third parties, including the exclusive worldwide license rights we obtained from Angiochem in December 2010. Those third-party license agreements impose obligations on us, such as payment obligations and obligations to diligently pursue development of commercial products under the licensed patents. If a licensor believes that we have failed to meet our obligations under a license agreement, the licensor could seek to limit or terminate our license rights, which could lead to costly and time-consuming litigation and, potentially, a loss of the licensed rights. During the period of any such litigation our ability to carry out the development and commercialization of potential products could be significantly and negatively affected. If our license rights were restricted or ultimately lost, our ability to continue our business based on the affected technology would be severely adversely affected.</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">We may be subject to infringement claims that are costly to defend, and which may limit our ability to use disputed technologies and prevent us from pursuing research and development or commercialization of potential products.</font></font></font><font style="FONT-FAMILY: Times New Roman"> </font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Our commercial success depends significantly on our ability to operate without infringing patents and the proprietary rights of others. Our technologies may infringe the patents or proprietary rights of others. In addition, we may become aware of discoveries and technology controlled by third parties that are advantageous to our programs. In the event our technologies infringe the rights of others or we require the use of discoveries and technology controlled by third parties, we may be prevented from pursuing research, development or commercialization of potential products or may be required to obtain licenses to those patents or other proprietary rights or develop or obtain alternative technologies. We have obtained licenses from several universities and companies for technologies that we anticipate incorporating into our potential products, and we initiate negotiation for licenses to other technologies as the need or opportunity arises. We may not be able to obtain a license to patented technology on commercially favorable terms, or at all. If we do not obtain a necessary license, we may need to redesign our technologies or obtain rights to alternate technologies, the research and adoption of which could cause delays in product development. In cases where we are unable to license necessary technologies, we could be prevented from developing certain potential products. Our failure to obtain alternative technologies or a license to any technology that we may require to research, develop or commercialize our product candidates would significantly and negatively affect our business.</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Much of the information and know-how that is critical to our business is not patentable and we may not be able to prevent others from obtaining this information and establishing competitive enterprises.</font></font></font></div>

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<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">We sometimes rely on trade secrets to protect our proprietary technology, especially in circumstances in which we believe patent protection is not appropriate or available. We attempt to protect our proprietary technology in part by confidentiality agreements with our employees, consultants, collaborators and contractors. We cannot assure you that these agreements will not be breached, that we would have adequate remedies for any breach, or that our trade secrets will not otherwise become known or be independently discovered by competitors, any of which would harm our business significantly.</font></div>

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<div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">RISKS RELATED TO OUR RELATIONSHIPS WITH THIRD PARTIES</font></font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">We depend on other parties to help us develop, manufacture and test our product candidates, and our ability to develop and commercialize potential products may be impaired or delayed if collaborations are unsuccessful.</font></font></font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Our strategy for the development, clinical testing and commercialization of our product candidates requires that we enter into collaborations with corporate partners, licensors, licensees and others. We are dependent upon the subsequent success of these other parties in performing their respective responsibilities and the continued cooperation of our partners. By way of examples: Sienna is developing cancer diagnostics using our telomerase technology and GE Healthcare UK Limited is developing cell-based assays using cells derived from our hESCs. Our collaborators may not cooperate with us or perform their obligations under our agreements with them. We cannot control the amount and timing of our collaborators&#8217; resources that will be devoted to activities related to our collaborative agreements with them. Our collaborators may choose to pursue existing or alternative technologies in preference to those being developed in collaboration with us.</font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Under agreements with other parties, we may rely significantly on them to, among other activities:</font><font style="FONT-FAMILY: Times New Roman"> </font></div>

<ul>
<li><font size="2" style="FONT-FAMILY: Times New Roman">conduct research and development activities in conjunction with us;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">design and conduct advanced clinical trials in the event that we reach clinical trials;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">fund research and development activities with us;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">manage and license certain patent rights;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">pay us fees upon the achievement of milestones; and<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">market with us any commercial products that result from our collaborations.</font> </li>
</ul>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>The development and commercialization of potential products will be delayed if collaborators or other partners fail to conduct these activities in a timely manner or at all. In addition, our collaborators could terminate their agreements with us and we may not receive any development or milestone payments. If we do not achieve milestones set forth in the agreements, or if our collaborators breach or terminate their collaborative agreements with us, our business may be materially harmed.</font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>We also rely on other companies for certain process development, manufacturing or other technical scientific work, especially with respect to our imetelstat, GRN1005, GRNOPC1 and GRNCM1 programs. We have contracts with these companies that specify the work to be done and results to be achieved, but we do not have direct control over their personnel or operations. If these companies do not perform the work which they were assigned, our ability to develop or manufacture our product candidates could be significantly harmed.</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Our reliance on the activities of our consultants, research institutions, and scientific contractors, whose activities are not wholly within our control, may lead to delays in development of our product candidates.</font></font></font></div>

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<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">We rely extensively upon and have relationships with scientific consultants at academic and other institutions, some of whom conduct research at our request, and other consultants who assist us in formulating our research and development and clinical strategy or other matters. These consultants are not our employees and may have commitments to, or consulting or advisory contracts with, other entities that may limit their availability to us. We have limited control over the activities of these consultants and, except as otherwise required by our collaboration and consulting agreements, can expect only limited amounts of their time to be dedicated to our activities. </font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>In addition, we have formed research collaborations with many academic and other research institutions throughout the world. These research facilities may have commitments to other commercial and noncommercial entities. We have limited control over the operations of these laboratories and can expect only limited amounts of their time to be dedicated to our research goals.</font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>If any of these third parties are unable or refuse to contribute to projects on which we need their help, our ability to generate advances in our technologies and develop our product candidates could be significantly harmed.</font></div>

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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">RISKS RELATED TO COMPETITIVE FACTORS</font></font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">The loss of key personnel could slow our ability to conduct research and develop product candidates.</font></font></font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Our future success depends to a significant extent on the skills, experience and efforts of our executive officers and key members of our clinical and scientific staff. We face intense competition for qualified individuals from numerous pharmaceutical, biopharmaceutical and biotechnology companies, as well as academic and other research institutions. We may be unable to retain our current personnel or attract or assimilate other highly qualified management and scientific personnel in the future on acceptable terms. The loss of any or all of these individuals could harm our business and might significantly delay or prevent the achievement of research, development or business objectives. </font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Our product candidates are likely to be expensive to manufacture, and they may not be profitable if we are unable to significantly reduce the costs to manufacture them.</font></font></font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Our telomerase inhibitor compound, imetelstat, and our hESC-based products are likely to be more expensive to manufacture than most other treatments currently on the market today, and the same is likely to be true of peptide products able to cross the BBB, including GRN1005. Oligonucleotides are relatively large molecules with complex chemistry, and the cost of manufacturing an oligonucleotide like imetelstat is greater than the cost of making most small-molecule drugs. Our present manufacturing processes are conducted at a modest scale and we hope to substantially reduce manufacturing costs through process improvements, as well as through scale increases. If we are not able to do so, however, and, depending on the pricing of the potential product, the profit margin on the telomerase inhibitor may be significantly less than that of most drugs on the market today.</font><font style="FONT-FAMILY: Times New Roman"> </font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>GRN1005 is a novel taxane derivative that is designed to cross the BBB by receptor-mediated transcytosis. The present manufacturing processes for GRN1005 are conducted at a small scale and we hope to substantially reduce manufacturing costs through process improvements, as well as through scale increases. If we are not able to do so, however, and, depending on the pricing of the potential product, the profit margin on GRN1005 may be significantly less than that of most drugs on the market today.</font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Our manufacturing processes for differentiated cells from hESCs are conducted at a small scale and at a high cost per unit measure. The cell-based therapies we are developing based on hESCs will probably require large quantities of cells. We continue to develop processes to scale up production of the cells in a cost-effective way. We may not be able to charge a high enough price for any cell therapy product we develop, even if it is safe and effective, to make a profit. If we are unable to realize significant profits from our potential product candidates, our business would be materially harmed.</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Some of our competitors may develop technologies that are superior to or more cost-effective than ours, which may impact the commercial viability of our technologies and which may significantly damage our ability to sustain operations.</font></font></font></div>

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<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">The pharmaceutical and biotechnology industries are intensely competitive. Other pharmaceutical and biotechnology companies and research organizations currently engage in or have in the past engaged in efforts related to the biological mechanisms that are the focus of our programs in oncology and human embryonic stem cell therapies, including the study of telomeres, telomerase, receptor-targeting peptides crossing the BBB and hESCs. In addition, other products and therapies that could directly compete with the product candidates that we are seeking to develop and market currently exist or are being developed by pharmaceutical and biopharmaceutical companies and by academic and other research organizations.</font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Many companies are developing alternative therapies to treat cancer and, in this regard, are competitors of ours. </font><font size="2" style="FONT-FAMILY: Times New Roman">According to public data from the FDA and NIH, there are more than 200 approved anti-cancer products on the market in the United States, and several thousand in clinical development.</font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Many of the pharmaceutical companies developing and marketing these competing products (including GlaxoSmithKline, Bristol-Myers Squibb Company and Novartis AG, among others) have significantly greater financial resources and expertise than we do in:</font></div>

<ul>
<li><font size="2" style="FONT-FAMILY: Times New Roman">research and development;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">manufacturing;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">preclinical and clinical testing;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">obtaining regulatory approvals; and<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">marketing and distribution.</font> </li>
</ul>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Smaller companies may also prove to be significant competitors, particularly through collaborative arrangements with large and established companies. Academic institutions, government agencies and other public and private research organizations may also conduct research, seek patent protection and establish collaborative arrangements for research, clinical development and marketing of products similar to ours. These companies and institutions compete with us in recruiting and retaining qualified scientific and management personnel as well as in acquiring technologies complementary to our programs. </font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>In addition to the above factors, we expect to face competition in the following areas:</font><font style="FONT-FAMILY: Times New Roman"> </font></div>

<ul>
<li><font size="2" style="FONT-FAMILY: Times New Roman">product efficacy and safety;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">the timing and scope of regulatory consents;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">availability of resources;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">reimbursement coverage;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">price; and<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">patent position, including potentially dominant patent positions of others.</font> </li>
</ul>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>As a result of the foregoing, our competitors may develop more effective or more affordable products, or achieve earlier patent protection or product commercialization than we do. Most significantly, competitive products may render any product candidates that we develop obsolete, which would negatively impact our business and ability to sustain operations.</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">To be successful, our product candidates must be accepted by the health care community, which can be very slow to adopt or unreceptive to new technologies and products.</font></font></font><font style="FONT-FAMILY: Times New Roman"> </font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Our product candidates and those developed by our collaborators, if approved for marketing, may not achieve market acceptance since hospitals, physicians, patients or the medical community in general may decide not to accept and utilize these products. The product candidates that we are attempting to develop represent substantial departures from established treatment methods and will compete with a number of conventional drugs and therapies manufactured and marketed by major pharmaceutical companies. The degree of market acceptance of any of our developed potential products will depend on a number of factors, including:</font></div>

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<li><font size="2" style="FONT-FAMILY: Times New Roman">our establishment and demonstration to the medical community of the clinical efficacy and safety of our product candidates;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">our ability to create products that are superior to alternatives currently on the market;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">our ability to establish in the medical community the potential advantage of our treatments over alternative treatment methods; and<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">reimbursement policies of government and third-party payors.</font> </li>
</ul>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman">If the health care community does not accept our potential products for any of the foregoing reasons, or for any other reason, our business would be materially harmed.</font><font style="FONT-FAMILY: Times New Roman"> </font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">If we fail to obtain acceptable prices or adequate reimbursement for our product candidates, the use of our potential products could be severely limited.</font></font></font><font style="FONT-FAMILY: Times New Roman"> </font></div>

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<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">Our ability to successfully commercialize our product candidates will depend significantly on our ability to obtain acceptable prices and the availability of reimbursement to the patient from third-party payors. In March 2010, President Obama signed the Patient Protection and Affordability Care Act, as amended by the Health Care and Education Affordability Reconciliation Act (collectively, the PPACA) into law. Focused on expanding healthcare coverage to millions of uninsured Americans and reducing the rate of increase in healthcare costs, the PPACA contains numerous initiatives that impact the pharmaceutical industry. These include, among other things:</font></div>

<ul>
<li><font size="2" style="FONT-FAMILY: Times New Roman">increasing existing price rebates in federally funded health care programs;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">expanding rebates, or other pharmaceutical company discounts, into new programs;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">imposing a new non-deductible excise tax on sales of certain prescription pharmaceutical products by prescription drug manufacturers and importers;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">reducing incentives for employer-sponsored health care;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">creating an independent commission to propose changes to Medicare with a particular focus on the cost of biopharmaceuticals in Medicare Part D;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">providing a government-run public option with biopharmaceutical price-setting capabilities;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">allowing the Secretary of Health and Human Services to negotiate drug prices within Medicare Part D directly with pharmaceutical manufacturers;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">reducing the number of years of data exclusivity for innovative biological products potentially leading to earlier biosimilar competition; and<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">increasing oversight by the FDA of pharmaceutical research and development processes and commercialization tactics.</font> </li>
</ul>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>While the PPACA may increase the number of patients who have insurance coverage for our product candidates, its cost containment measures could also adversely affect reimbursement for our potential products. Cost control initiatives could decrease the price that we receive for any product candidate we may develop in the future. If our potential products are not considered cost-effective or if we fail to generate adequate third-party reimbursement for the users of our potential products and treatments, then we may be unable to maintain price levels sufficient to realize an appropriate return on our investment for potential products currently in development, which could have an adverse impact on our business.</font></div>

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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">RISKS RELATED TO ENVIRONMENTAL AND PRODUCT LIABILITY</font></font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Our activities involve hazardous materials, and improper handling of these materials by our employees or agents could expose us to significant legal and financial penalties.</font></font></font></div>

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<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">Our research and development activities involve the controlled use of hazardous materials, chemicals and various radioactive compounds. As a consequence, we are subject to numerous environmental and safety laws and regulations, including those governing laboratory procedures, exposure to blood-borne pathogens and the handling of biohazardous materials. We may be required to incur significant costs to comply with current or future environmental laws and regulations and may be adversely affected by the cost of compliance with these laws and regulations. </font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Although we believe that our safety procedures for using, handling, storing and disposing of hazardous materials comply with the standards prescribed by state and federal regulations, the risk of accidental contamination or injury from these materials cannot be eliminated. In the event of such an accident, state or federal authorities could curtail our use of these materials and we could be liable for any civil damages that result, the cost of which could be substantial. Further, any failure by us to control the use, disposal, removal or storage, or to adequately restrict the discharge, or assist in the clean up, of hazardous chemicals or hazardous, infectious or toxic substances could subject us to significant liabilities, including joint and several liability under certain statutes. Any such liability could exceed our resources and could have a material adverse effect on our business, financial condition and results of operations. Additionally, an accident could damage our research and manufacturing facilities and operations.</font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Additional federal, state and local laws and regulations affecting us may be adopted in the future. We may incur substantial costs to comply with these laws and regulations and substantial fines or penalties if we violate any of these laws or regulations, which would adversely affect our business.</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">We may not be able to obtain or maintain sufficient insurance on commercially reasonable terms or with adequate coverage against potential liabilities in order to protect ourselves against product liability claims.</font></font></font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Our business exposes us to potential product liability risks that are inherent in the testing, manufacturing and marketing of human therapeutic and diagnostic products. We may become subject to product liability claims if the use of our potential products is alleged to have injured subjects or patients. This risk exists for product candidates tested in human clinical trials as well as potential products that are sold commercially. We currently have limited clinical trial liability insurance and we may not be able to maintain this type of insurance for any of our clinical trials. In addition, product liability insurance is becoming increasingly expensive. Being unable to obtain or maintain product liability insurance in the future on acceptable terms or with adequate coverage against potential liabilities could have a material adverse effect on our business.</font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"> </font></font></div>

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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">RISKS RELATED TO OUR COMMON STOCK AND FINANCIAL REPORTING</font></font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Our stock price has historically been very volatile.</font></font></font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Stock prices and trading volumes for many biopharmaceutical companies fluctuate widely for a number of reasons, including factors which may be unrelated to their businesses or results of operations such as media coverage, legislative and regulatory measures and the activities of various interest groups or organizations. This market volatility, as well as general domestic or international economic, market and political conditions, could materially and adversely affect the market price of our common stock and the return on your investment.</font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Historically, our stock price has been extremely volatile. Between January 1, 2001 and June 30, 2011, our stock has traded as high as $20.75 per share and as low as $1.41 per share. Between January 1, 2008 and June 30, 2011, the price has ranged between a high of $9.24 per share and a low of $1.95 per share. The significant market price fluctuations of our common stock are due to a variety of factors, including:</font></div>

<ul>
<li><font size="2" style="FONT-FAMILY: Times New Roman">the demand in the market for our common stock;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">the experimental nature of our product candidates;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">fluctuations in our operating results;</font> </li>
</ul>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">37</font></div>

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<ul>
<li><font size="2" style="FONT-FAMILY: Times New Roman">market conditions relating to the biopharmaceutical and pharmaceutical industries;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">announcements of technological innovations, new commercial products, or clinical progress or lack thereof by us, our collaborative partners or our competitors;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">announcements concerning regulatory developments, developments with respect to proprietary rights and our collaborations;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">comments by securities analysts;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">general market conditions;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">political developments related to hESC research;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">public concern with respect to our product candidates; and<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">the issuance of common stock to partners, vendors or to investors to raise additional capital. </font></li>
</ul>

<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">In addition, the stock market is subject to other factors outside our control that can cause extreme price and volume fluctuations. Since the latter half of 2008, broad distress in the financial markets and the economy have resulted in greatly increased market uncertainty and instability in both U.S. and international capital and credit markets. These conditions, combined with volatile oil prices, declining business and consumer confidence and high unemployment have recently contributed to substantial market volatility, and if such market conditions persist, the price of our common stock may fluctuate or decline.</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">We may be subject to litigation that will be costly to defend or pursue and uncertain in its outcome.</font></font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Securities-related class action litigation has often been brought against companies, including many biotechnology companies, which experience volatility in the market price of their securities. This risk is especially relevant for us because biotechnology and biopharmaceutical companies often experience significant stock price volatility in connection with their product development programs. In December 2010, a purported securities class action complaint was filed naming us and one of our executive officers as defendants. The lawsuit alleged that the defendants made materially false or misleading public statements regarding our financial condition. The case was voluntarily dismissed, without prejudice in February 2011. In January and February 2011, purported shareholder derivative complaints were filed against the members of our board of directors and one of our executive officers. The derivative complaints were based on the same factual background as the same dismissed class action, and alleged that the defendants breached their fiduciary duties. Each of the derivative cases was voluntarily dismissed, without prejudice, in March 2011. Such securities-related litigation may be filed in the future and a decision adverse to our interests in any such lawsuit could result in the payment of substantial damages by us, and could have a material adverse effect on our cash flow, results of operations and financial position.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Our business may bring us into conflict with our licensees, licensors, or others with whom we have contractual or other business relationships, or with our competitors or others whose interests differ from ours. If we are unable to resolve those conflicts on terms that are satisfactory to all parties, we may become involved in litigation brought by or against us. Monitoring and defending against legal actions is time-consuming for our management, is likely to be expensive and may detract from our ability to fully focus our internal resources on our business activities. The outcome of litigation is always uncertain, and in some cases could include judgments against us that require us to pay damages, enjoin us from certain activities, or otherwise affect our legal or contractual rights, which could have a significant adverse effect on our business. In addition, the inherent uncertainty of such litigation could lead to increased volatility in our stock price.</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">The sale of a substantial number of shares may adversely affect the market price of our common stock.</font></font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>The sale of a substantial number of shares of our common stock in the public market, or the perception that such sales could occur, could significantly and negatively affect the market price of our common stock. As of June 30, 2011, we had 200,000,000 shares of common stock authorized for issuance and 131,401,243 shares of common stock outstanding. In addition, as of June 30, 2011, we have reserved approximately 32,617,456 shares of common stock for future issuance pursuant to our stock plans, potential milestone payments and outstanding warrants. We also anticipate that we will need to reserve additional shares in connection with the issuance of warrants to CIRM pursuant to our loan arrangement for future disbursements.</font></div>

<div>&#160;</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">38</font></div>

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<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">In addition, we have issued common stock to certain parties, such as vendors and service providers, as payment for products and services. Under these arrangements, we typically agree to register the shares for resale soon after their issuance. We may continue to pay for certain goods and services in this manner, which would dilute your interest in us. Also, sales of the shares issued in this manner could negatively affect the market price of our common stock.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>As partial consideration for the license rights we obtained from Angiochem, Inc. (Angiochem), we issued to Angiochem 5,261,144 shares of common stock (Angiochem Shares) on January 5, 2011. On January 7, 2011, we filed a registration statement on Form S-3 (Angiochem S-3) with the Securities and Exchange Commission covering the shares issued to Angiochem which was declared effective on January 13, 2011. The Angiochem Shares were initially subject to a lock-up agreement with us that expired on February 5, 2011. Any sales by Angiochem of the Angiochem Shares are subject to certain monthly volume restrictions. Sales of the Angiochem Shares could negatively impact the market price of our common stock in the future.</font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Our undesignated preferred stock may inhibit potential acquisition bids; this may adversely affect the market price of our common stock and the voting rights of holders of our common stock.</font></font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Our certificate of incorporation provides our Board of Directors with the authority to issue up to 3,000,000 shares of undesignated preferred stock and to determine or alter the rights, preferences, privileges and restrictions granted to or imported upon these shares without further vote or action by our stockholders. The issuance of shares of preferred stock may delay or prevent a change in control transaction without further action by our stockholders. As a result, the market price of our common stock may be adversely affected.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>In addition, if we issue preferred stock in the future that has preference over our common stock with respect to the payment of dividends or upon our liquidation, dissolution or winding up, or if we issue preferred stock with voting rights that dilute the voting power of our common stock, the rights of holders of our common stock or the market price of our common stock could be adversely affected.</font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Provisions in our charter, bylaws and Delaware law may inhibit potential acquisition bids for us, which may prevent holders of our common stock from benefiting from what they believe may be the positive aspects of acquisitions and takeovers.</font></font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Provisions of our charter documents and bylaws may make it substantially more difficult for a third party to acquire control of us and may prevent changes in our management, including provisions that:</font></div>

<ul>
<li><font size="2" style="FONT-FAMILY: Times New Roman">prevent stockholders from taking actions by written consent;<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">divide the Board of Directors into separate classes with terms of office that are structured to prevent all of the directors from being elected in any one year; and<br>
&#160; </font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">set forth procedures for nominating directors and submitting proposals for consideration at stockholders&#8217; meetings.</font> </li>
</ul>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman">Provisions of Delaware law may also inhibit potential acquisition bids for us or prevent us from engaging in business combinations. In addition, we have severance agreements with several employees and a change of control severance plan which could require an acquiror to pay a higher price. Either collectively or individually, these provisions may prevent holders of our common stock from benefiting from what they may believe are the positive aspects of acquisitions and takeovers, including the potential realization of a higher rate of return on their investment from these types of transactions.</font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">We do not intend to pay cash dividends on our common stock in the foreseeable future.</font></font></font><font style="FONT-FAMILY: Times New Roman"> </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>We do not anticipate paying cash dividends on our common stock in the foreseeable future. Any payment of cash dividends will depend upon our financial condition, results of operations, capital requirements and other factors and will be at the discretion of the Board of Directors. Furthermore, we may incur additional indebtedness that may severely restrict or prohibit the payment of dividends.</font></div>

<div>&#160;</div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Failure to achieve and maintain effective internal controls in accordance with Section 404 of the Sarbanes-Oxley Act of 2002 could have a material adverse effect on our business and stock price.</font></font></font></div>

<div>&#160;</div>

<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">Section 404 of the Sarbanes-Oxley Act of 2002 (the Sarbanes-Oxley Act) requires that we establish and maintain an adequate internal control structure and procedures for financial reporting. Our annual report on Form 10-K must contain an assessment by management of the effectiveness of our internal control over financial reporting and must include disclosure of any material weaknesses in internal control over financial reporting that we have identified. In addition, our independent registered public accounting firm must annually provide an opinion on the effectiveness of our internal control over financial reporting.</font><font style="FONT-FAMILY: Times New Roman"> </font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>The requirements of Section 404 of the Sarbanes-Oxley Act are ongoing and also apply to future years. We expect that our internal control over financial reporting will continue to evolve as our business develops. Although we are committed to continue to improve our internal control processes and we will continue to diligently and vigorously review our internal control over financial reporting in order to ensure compliance with Section 404 requirements, any control system, regardless of how well designed, operated and evaluated, can provide only reasonable, not absolute, assurance that its objectives will be met. Therefore, we cannot be certain that in the future material weaknesses or significant deficiencies will not exist or otherwise be discovered. If material weaknesses or other significant deficiencies occur, these weaknesses or deficiencies could result in misstatements of our results of operations, restatements of our consolidated financial statements, a decline in our stock price, or other material adverse effects on our business, reputation, results of operations, financial condition or liquidity.</font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a name="11">ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS</a> </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>None. </font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Purchases of Equity Securities by the Issuer and Affiliated Purchasers </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>None. </font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a name="12">ITEM 3. DEFAULTS UPON SENIOR SECURITIES</a></font></font><font size="2" style="FONT-FAMILY: Times New Roman"> </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>None. </font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a name="13">ITEM 4. (REMOVED AND RESERVED)</a></font></font><font size="2" style="FONT-FAMILY: Times New Roman"> </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>None. </font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a name="14">ITEM 5. OTHER INFORMATION</a></font></font><font size="2" style="FONT-FAMILY: Times New Roman"> </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>None. </font></div>

<div>&#160;</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">40</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a name="15">ITEM 6. EXHIBITS</a></font></font><font size="2" style="FONT-FAMILY: Times New Roman"> </font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="BORDER-COLLAPSE: collapse; ">
<tr valign="bottom" style="LINE-HEIGHT: 14pt;">
<td align="center" colspan="2" nowrap valign="top" width="4%"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Exhibit</font></font></td>
<td align="left" nowrap valign="top" width="1%">&#160;</td>
<td align="left" nowrap valign="top" width="95%">&#160;</td>
</tr><tr valign="bottom" style="LINE-HEIGHT: 14pt;">
<td align="center" colspan="2" nowrap valign="top" width="4%" style="BORDER-BOTTOM: #000000 1pt solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Number</font></font></td>
<td align="left" nowrap valign="top" width="1%">&#160;&#160;&#160;&#160; </td>
<td align="left" nowrap valign="top" width="95%" style="BORDER-BOTTOM: #000000 1pt solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Description</font></font></td>
</tr><tr>
<td align="right" nowrap valign="top" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 10.1</font></td>
<td align="left" nowrap valign="top" width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;+&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap valign="top" width="1%" bgcolor="#c0c0c0">&#160;</td>
<td valign="top" width="95%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Geron Corporation 2011 Incentive Award Plan. *</font></td>
</tr><tr>
<td align="right" colspan="4" valign="top" width="100%">&#160;</td>
</tr><tr>
<td align="right" nowrap valign="top" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">10.2</font></td>
<td nowrap valign="top" width="1%" bgcolor="#c0c0c0">&#160;</td>
<td nowrap valign="top" width="1%" bgcolor="#c0c0c0">&#160;</td>
<td valign="top" width="95%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Amended and Restated 2006 Directors&#8217; Stock Option Plan. *</font></td>
</tr><tr>
<td align="right" colspan="4" valign="top" width="100%">&#160;</td>
</tr><tr>
<td align="right" nowrap valign="top" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">10.3</font></td>
<td nowrap valign="top" width="1%" bgcolor="#c0c0c0">&#160;</td>
<td nowrap valign="top" width="1%" bgcolor="#c0c0c0">&#160;</td>
<td valign="top" width="95%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Offer letter agreement between Registrant and Melanie I. Nallicheri, dated February 1, 2011. *</font></td>
</tr><tr>
<td align="right" colspan="4" valign="top" width="100%">&#160;</td>
</tr><tr>
<td align="right" nowrap valign="top" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">31.1</font></td>
<td nowrap valign="top" width="1%" bgcolor="#c0c0c0">&#160;</td>
<td nowrap valign="top" width="1%" bgcolor="#c0c0c0">&#160;</td>
<td valign="top" width="95%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Certification of Interim Chief Executive Officer and Chief Financial Officer pursuant to Form of Rule 13a-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, dated August 5, 2011.</font></td>
</tr><tr>
<td align="right" colspan="4" valign="top" width="100%">&#160;</td>
</tr><tr>
<td align="right" nowrap valign="top" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">32.1</font></td>
<td nowrap valign="top" width="1%" bgcolor="#c0c0c0">&#160;</td>
<td nowrap valign="top" width="1%" bgcolor="#c0c0c0">&#160;</td>
<td valign="top" width="95%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Certification of Interim Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, dated August 5, 2011.</font></td>
</tr><tr>
<td align="right" colspan="4" valign="top" width="100%">&#160;</td>
</tr><tr>
<td align="right" nowrap valign="top" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">101</font></td>
<td nowrap valign="top" width="1%" bgcolor="#c0c0c0">&#160;</td>
<td nowrap valign="top" width="1%" bgcolor="#c0c0c0">&#160;</td>
<td valign="top" width="95%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">The following materials from the Registrant&#8217;s Quarterly Report on Form 10-Q for the quarter ended June 30, 2011, formatted in Extensible Business Reporting Language (XBRL) include: (i) Condensed Consolidated Balance Sheets as of June 30, 2011 and December 31, 2010, (ii) Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2011 and 2010, (iii) Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2011 and 2010, and (iv) Notes to Condensed Consolidated Financial Statements. **</font></td>
</tr></table>
</div>

____________________<br>
&#160;<br>
<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" valign="top" width="3%"><font size="2" style="FONT-FAMILY: times new roman">+</font></td>
<td align="left" valign="top" width="96%"><font size="2" style="FONT-FAMILY: times new roman">Incorporated by reference to Exhibit 10.1 filed with the Registrant&#8217;s Current Report on Form 8-K filed on May 16, 2011.</font></td>
</tr><tr>
<td colspan="2" valign="top" width="99%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" valign="top" width="3%"><font size="2" style="FONT-FAMILY: times new roman">*</font></td>
<td align="left" valign="top" width="96%"><font size="2" style="FONT-FAMILY: times new roman">Management contract or compensation plan or arrangement.</font></td>
</tr><tr>
<td colspan="2" valign="top" width="99%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" valign="top" width="3%"><font size="2" style="FONT-FAMILY: times new roman">**</font></td>
<td align="left" valign="top" width="96%"><font size="2" style="FONT-FAMILY: times new roman">XBRL information is furnished and not filed or a part of a registration statement or prospectus for purposes of sections 11 or 12 of the Securities Exchange Act of 1933, as amended, is deemed not filed for purposes of section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.</font></td>
</tr></table>
</div>

<br>
<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"><a name="16">SIGNATURE</a></font></font><font size="2" style="FONT-FAMILY: Times New Roman"> </font></div>

<div>&#160;</div>

<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.</font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="49%">&#160;</td>
<td align="left" colspan="2" nowrap width="50%"><font size="2" style="FONT-FAMILY: times new roman">GERON CORPORATION</font></td>
</tr><tr>
<td align="left" nowrap width="49%">&#160;</td>
<td align="left" colspan="2" nowrap width="50%">&#160; </td>
</tr><tr valign="bottom">
<td align="left" nowrap width="49%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">By:&#160;&#160;&#160;&#160;&#160; </font></td>
<td align="left" nowrap width="49%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">/s/ DAVID L. GREENWOOD</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="49%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="49%"><font size="2" style="FONT-FAMILY: times new roman">David L. Greenwood</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="49%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="49%"><font size="2" style="FONT-FAMILY: times new roman">President, Interim Chief Executive Officer</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="49%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="49%"><font size="2" style="FONT-FAMILY: times new roman">and Chief Financial Officer</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="49%"><font size="2" style="FONT-FAMILY: times new roman">Date: August 5, 2011</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="49%"><font size="2" style="FONT-FAMILY: times new roman">(Duly Authorized Signatory)</font></td>
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<br>
<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">41</font></div>

<div>&#160;</div>

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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">EXHIBIT INDEX</font></font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="BORDER-COLLAPSE: collapse; ">
<tr valign="bottom" style="LINE-HEIGHT: 14pt;">
<td align="center" colspan="2" nowrap valign="top" width="4%"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Exhibit</font></font></td>
<td align="left" nowrap valign="top" width="1%">&#160;</td>
<td align="left" nowrap valign="top" width="95%">&#160;</td>
</tr><tr valign="bottom" style="LINE-HEIGHT: 14pt;">
<td align="center" colspan="2" nowrap valign="top" width="4%" style="BORDER-BOTTOM: #000000 1pt solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Number</font></font></td>
<td align="left" nowrap valign="top" width="1%">&#160;&#160;&#160;&#160; </td>
<td align="left" nowrap valign="top" width="95%" style="BORDER-BOTTOM: #000000 1pt solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Description</font></font></td>
</tr><tr>
<td align="right" nowrap valign="top" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 10.1</font></td>
<td align="left" nowrap valign="top" width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;+&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap valign="top" width="1%" bgcolor="#c0c0c0">&#160;</td>
<td valign="top" width="95%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Geron Corporation 2011 Incentive Award Plan. *</font></td>
</tr><tr>
<td align="right" colspan="4" valign="top" width="100%">&#160;</td>
</tr><tr>
<td align="right" nowrap valign="top" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">10.2</font></td>
<td nowrap valign="top" width="1%" bgcolor="#c0c0c0">&#160;</td>
<td nowrap valign="top" width="1%" bgcolor="#c0c0c0">&#160;</td>
<td valign="top" width="95%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Amended and Restated 2006 Directors&#8217; Stock Option Plan. *</font></td>
</tr><tr>
<td align="right" colspan="4" valign="top" width="100%">&#160;</td>
</tr><tr>
<td align="right" nowrap valign="top" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">10.3</font></td>
<td nowrap valign="top" width="1%" bgcolor="#c0c0c0">&#160;</td>
<td nowrap valign="top" width="1%" bgcolor="#c0c0c0">&#160;</td>
<td valign="top" width="95%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Offer letter agreement between Registrant and Melanie I. Nallicheri, dated February 1, 2011. *</font></td>
</tr><tr>
<td align="right" colspan="4" valign="top" width="100%">&#160;</td>
</tr><tr>
<td align="right" nowrap valign="top" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">31.1</font></td>
<td nowrap valign="top" width="1%" bgcolor="#c0c0c0">&#160;</td>
<td nowrap valign="top" width="1%" bgcolor="#c0c0c0">&#160;</td>
<td valign="top" width="95%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Certification of Interim Chief Executive Officer and Chief Financial Officer pursuant to Form of Rule 13a-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, dated August 5, 2011.</font></td>
</tr><tr>
<td align="right" colspan="4" valign="top" width="100%">&#160;</td>
</tr><tr>
<td align="right" nowrap valign="top" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">32.1</font></td>
<td nowrap valign="top" width="1%" bgcolor="#c0c0c0">&#160;</td>
<td nowrap valign="top" width="1%" bgcolor="#c0c0c0">&#160;</td>
<td valign="top" width="95%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Certification of Interim Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, dated August 5, 2011.</font></td>
</tr><tr>
<td align="right" colspan="4" valign="top" width="100%">&#160;</td>
</tr><tr>
<td align="right" nowrap valign="top" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">101</font></td>
<td nowrap valign="top" width="1%" bgcolor="#c0c0c0">&#160;</td>
<td nowrap valign="top" width="1%" bgcolor="#c0c0c0">&#160;</td>
<td valign="top" width="95%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">The following materials from the Registrant&#8217;s Quarterly Report on Form 10-Q for the quarter ended June 30, 2011, formatted in Extensible Business Reporting Language (XBRL) include: (i) Condensed Consolidated Balance Sheets as of June 30, 2011 and December 31, 2010, (ii) Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2011 and 2010, (iii) Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2011 and 2010, and (iv) Notes to Condensed Consolidated Financial Statements. **</font></td>
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____________________<br>
&#160;<br>
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<td align="left" valign="top" width="3%"><font size="2" style="FONT-FAMILY: times new roman">+</font></td>
<td align="left" valign="top" width="96%"><font size="2" style="FONT-FAMILY: times new roman">Incorporated by reference to Exhibit 10.1 filed with the Registrant&#8217;s Current Report on Form 8-K filed on May 16, 2011.</font></td>
</tr><tr>
<td colspan="2" valign="top" width="99%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" valign="top" width="3%"><font size="2" style="FONT-FAMILY: times new roman">*</font></td>
<td align="left" valign="top" width="96%"><font size="2" style="FONT-FAMILY: times new roman">Management contract or compensation plan or arrangement.</font></td>
</tr><tr>
<td colspan="2" valign="top" width="99%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" valign="top" width="3%"><font size="2" style="FONT-FAMILY: times new roman">**</font></td>
<td align="left" valign="top" width="96%"><font size="2" style="FONT-FAMILY: times new roman">XBRL information is furnished and not filed or a part of a registration statement or prospectus for purposes of sections 11 or 12 of the Securities Exchange Act of 1933, as amended, is deemed not filed for purposes of section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.</font></td>
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<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>2
<FILENAME>exhibit10-2.htm
<DESCRIPTION>AMENDED AND RESTATED 2006 DIRECTORS? STOCK OPTION PLAN.
<TEXT>
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<div align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">EXHIBIT 10.2</font></font></div>

<div>&#160;</div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">GERON CORPORATION<br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">2006 DIRECTORS&#8217; STOCK OPTION PLAN<br>
(As Amended and Restated Effective May 11, 2011)</font></font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">1.</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"> </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Purposes of the Plan</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">. </font></font></div>

<div>&#160;</div>

<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">The purposes of this Amended and Restated 2006 Directors&#8217; Stock Option Plan are to attract and retain the best available personnel for service as Directors of the Company, to provide additional incentive to the Outside Directors of the Company to serve as Directors, and to encourage their continued service on the Board. </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>All options granted hereunder shall be &#8220;nonqualified stock options&#8221;. Awards of Restricted Stock and Restricted Stock Units may also be granted under this Plan. </font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">2.</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"> </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Definitions</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">. </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>As used herein, the following definitions shall apply: </font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" style="">
<tr>
<td nowrap valign="top">&#160;&#160;&#160; &#160; </td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(a)</font></td>
<td nowrap valign="top">&#160;&#160;&#160;&#160; </td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Award</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221; shall mean an Option, a Restricted Stock award or a Restricted Stock Unit award granted to an Outside Director pursuant to the Plan.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(b)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Award Agreement</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221; shall mean any written agreement, contract or other instrument or document evidencing an Award, including through electronic medium.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(c)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Board</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221; shall mean the Board of Directors of the Company.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(d)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Code</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221; shall mean the Internal Revenue Code of 1986, as amended.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(e)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Common Stock</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221; shall mean the Common Stock of the Company.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(f)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Company</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221; shall mean Geron Corporation, a Delaware corporation.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(g)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Continuous Status as a Director</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221; shall mean the absence of any interruption or termination of service as a Director.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(h)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Director</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221; shall mean a member of the Board.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(i)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Employee</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221; shall mean any person, including officers and directors, employed by the Company or any Parent or Subsidiary of the Company. The payment of a director&#8217;s fee by the Company shall not be sufficient in and of itself to constitute &#8220;employment&#8221; by the Company.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(j)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Exchange Act</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221; shall mean the Securities Exchange Act of 1934, as amended.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(k)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Option</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221; shall mean a stock option granted pursuant to the Plan. All Options shall be nonqualified stock options (i.e., options that are not intended to qualify as incentive stock options under Section 422 of the Code).</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(l)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Outside Director</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221; shall mean a Director who is not an Employee.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(m)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Parent</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221; shall mean a &#8220;parent corporation&#8221;, whether now or hereafter existing, as defined in Section 424(e) of the Code.</font></td>
</tr></table>
</div>

<div align="center">&#160;</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">1</font></div>

<div>&#160;</div>

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<td nowrap valign="top">&#160; &#160;&#160;&#160; </td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(n)</font></td>
<td nowrap valign="top">&#160;&#160;&#160;&#160; </td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Participant</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221; shall mean an Outside Director who receives an Award.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(o)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Plan</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221; shall mean this Amended and Restated 2006 Directors&#8217; Stock Option Plan, as it may be amended from time to time.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(p)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Restricted Stock</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221; shall mean an Award of Shares granted to an Outside Director pursuant to Section 5 or Section 11.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(q)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Restricted Stock Unit</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221; shall mean an Award granted pursuant to Section 12.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(r)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Share</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221; shall mean a share of the Common Stock, as adjusted in accordance with Section 14 of the Plan.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(s)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Subsidiary</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221; shall mean a &#8220;subsidiary corporation&#8221;, whether now or hereafter existing, as defined in Section 424(f) of the Code.</font></td>
</tr></table>
</div>

<div align="left">&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">3.</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"> </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Stock Subject to the Plan</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">. </font></font></div>

<div>&#160;</div>

<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">Subject to the provisions of Section 14 of the Plan, the maximum aggregate number of Shares which may be issued pursuant to Awards granted under the Plan is 2,500,000 Shares (the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Pool</font></font><font size="2" style="FONT-FAMILY: Times New Roman">&#8221;) of Common Stock. The Shares may be authorized, but unissued, or reacquired Common Stock. </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>To the extent that an Award terminates, expires, or lapses for any reason, any Shares subject to the Award shall again be available for the grant of an Award pursuant to the Plan. If Shares which were acquired upon exercise of an Option are subsequently repurchased by the Company, such Shares shall not in any event be returned to the Plan and shall not become available for future grant under the Plan. However, if unvested Shares of Restricted Stock are repurchased by the Company at their original purchase price or forfeited back to the Company for no consideration, such Shares shall become available for future grant under the Plan.</font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">4.</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"> </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Administration of and Grants of Awards under the Plan</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">. </font></font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" style="">
<tr>
<td nowrap valign="top">&#160;&#160; &#160;&#160; </td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(a)</font></td>
<td nowrap valign="top">&#160;&#160;&#160;&#160; </td>
<td valign="top" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Administrator</font></font><font size="2" style="FONT-FAMILY: times new roman">. Except as otherwise required herein, the Plan shall be administered by the Board.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(b)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Procedure for Grants</font></font><font size="2" style="FONT-FAMILY: times new roman">. All grants of Options and Restricted Stock pursuant to Section 5 shall be automatic and non-discretionary and shall be made strictly in accordance with the provisions set forth in Section 5. In addition, the Board may make discretionary grants of Options, Restricted Stock or Restricted Stock Units.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(c)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Powers of the Board</font></font><font size="2" style="FONT-FAMILY: times new roman">. Subject to the provisions and restrictions of the Plan, the Board shall have the authority, in its discretion: (i) to determine, upon review of relevant information and in accordance with Section 9(b) of the Plan, the fair market value of the Common Stock; (ii) to determine the exercise price per share of Options to be granted, which exercise price shall be determined in accordance with Section 9(a) of the Plan; (iii) to interpret the Plan; (iv) to prescribe, amend and rescind rules and regulations relating to the Plan; (v) to authorize any person to execute on behalf of the Company any instrument required to effectuate the grant of an Award previously granted hereunder; (vi) to make discretionary grants of Options, Restricted Stock and Restricted Stock Units and to determine the terms and conditions of such Awards, and (vii) to make all other determinations deemed necessary or advisable for the administration of the Plan.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(d)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Effect of Board&#8217;s Decision</font></font><font size="2" style="FONT-FAMILY: times new roman">. All decisions, determinations and interpretations of the Board shall be final and binding on all Participants and any other holders of any Awards granted under the Plan.</font></td>
</tr></table>
</div>

<div align="center">&#160;</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">2</font></div>

<div>&#160;</div>

<hr align="center" noshade size="2" width="100%">
<div id="PGBRK">
<div id="PN" style="PAGE-BREAK-BEFORE: always">&#160;</div>
</div>

<br>
<div>
<table border="0" cellpadding="0" cellspacing="0" style="">
<tr>
<td nowrap valign="top">&#160;&#160; &#160;&#160; </td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(e)</font></td>
<td nowrap valign="top">&#160;&#160;&#160;&#160; </td>
<td valign="top" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Suspension or Termination of Option</font></font><font size="2" style="FONT-FAMILY: times new roman">. If the President or his or her designee reasonably believes that a Participant has committed an act of misconduct, the President may suspend the Participant&#8217;s right to exercise any Option pending a determination by the Board (excluding the Outside Director accused of such misconduct). If the Board (excluding the Outside Director accused of such misconduct) determines a Participant has committed an act of embezzlement, fraud, dishonesty, nonpayment of an obligation owed to the Company, breach of fiduciary duty or deliberate disregard of the Company rules resulting in loss, damage or injury to the Company, or if a Participant makes an unauthorized disclosure of any Company trade secret or confidential information, engages in any conduct constituting unfair competition, induces any Company customer to breach a contract with the Company or induces any principal for whom the Company acts as agent to terminate such agency relationship, neither the Participant nor his or her estate shall be entitled to exercise any Option whatsoever and such Option shall immediately terminate as of such determination (the &#8220;date of determination&#8221;). In making such determination, the Board (excluding the Outside Director accused of such misconduct) shall act fairly and shall give the Participant an opportunity to appear and present evidence on Participant&#8217;s behalf at a hearing before the Board or a committee of the Board.</font></td>
</tr></table>
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<div align="left">&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">5.</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"> </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Automatic Grant Program</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">. </font></font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" style="">
<tr>
<td nowrap valign="top">&#160;&#160;&#160;&#160;&#160; </td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(a)</font></td>
<td nowrap valign="top">&#160;&#160;&#160;&#160; </td>
<td valign="top" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">General</font></font><font size="2" style="FONT-FAMILY: times new roman">. No person shall have any discretion to select which Outside Directors shall be granted Awards or to determine the number of Shares to be covered by Awards granted to Outside Directors pursuant to this Section 5. Subject to the limitations set forth in Section 5(f), Outside Directors shall receive automatic grants of Awards pursuant to this Section 5 for the number of Shares set forth below.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(b)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">First Option</font></font><font size="2" style="FONT-FAMILY: times new roman">. Each Outside Director shall be automatically granted an Option to purchase 60,000 Shares (the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">First Option</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221;) on the date on which such person first becomes an Outside Director, whether through election by the stockholders of the Company or appointment by the Board to fill a vacancy. For the avoidance of doubt, unless otherwise determined by the Board, the Executive Chairman of the Board shall not receive a First Option pursuant to this Section 5(b).</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(c)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Subsequent Option and Stock Award</font></font><font size="2" style="FONT-FAMILY: times new roman">. Each Outside Director, other than the Lead Independent Director or Non-Executive Chairman of the Board or an Outside Director whose First Option is being granted on the date of the Annual Meeting of the Company&#8217;s stockholders, shall be automatically granted (i) an Option to purchase 10,000 Shares (a &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Subsequent Option</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221;), and (ii) a Restricted Stock award of 5,000 Shares (a &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Subsequent Stock Award</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221;) on the date of the Annual Meeting of the Company&#8217;s stockholders in each year of his service. The Subsequent Option granted to each of the Lead Independent Director of the Board and the Non-Executive Chairman of the Board under this Section 5(c) shall be an Option to purchase 20,000 Shares, and the Subsequent Stock Award granted to each of the Lead Independent Director of the Board and the Non-Executive Chairman of the Board under this Section 5(c) shall be for 10,000 Shares. For the avoidance of doubt, unless otherwise determined by the Board, the Executive Chairman of the Board shall not receive a Subsequent Option or Subsequent Stock Award pursuant to this Section 5(c).</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(d)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Committee Service Option and Stock Award</font></font><font size="2" style="FONT-FAMILY: times new roman">. On the date of the Annual Meeting of the Company&#8217;s stockholders, each Outside Director, other than the Chairman of the Audit Committee, Compensation Committee, Nominating Committee or another so designated standing committee of the Board, who continues to serve on the Audit Committee, the Compensation Committee, Nominating Committee or another so designated standing committee of the Board, shall be automatically granted (i) an Option to purchase 2,000 Shares (a &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Committee Service Option</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221;), and (ii) an Award of 1,000 Shares of Restricted Stock (a &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Committee Service Stock Award</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221;).</font></font></td>
</tr></table>
</div>

<div align="center">&#160;</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">3</font></div>

<div>&#160;</div>

<hr align="center" noshade size="2" width="100%">
<div id="PGBRK">
<div id="PN" style="PAGE-BREAK-BEFORE: always">&#160;</div>
</div>

<br>
<div>
<table border="0" cellpadding="0" cellspacing="0" style="">
<tr>
<td nowrap valign="top">&#160;&#160; &#160;&#160; </td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(e)</font></td>
<td nowrap valign="top">&#160;&#160;&#160;&#160; </td>
<td colspan="5" valign="top" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Committee Chair Service Option and Stock Award</font></font><font size="2" style="FONT-FAMILY: times new roman">. On the date of the Annual Meeting of the Company&#8217;s stockholders, each Outside Director who serves as a Chairman of the Audit Committee, Compensation Committee or Nominating Committee or another standing committee of the Board designated by the Board as qualifying for such grant, shall be automatically granted an Option to purchase Shares (a &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Committee Chair Service Option</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221;), and an Award of Restricted Stock (a &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Committee Chair Service Stock Award</font></font><font size="2" style="FONT-FAMILY: times new roman">&#8221;), for the number of Shares set forth below.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="7" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(i)</font></td>
<td nowrap valign="top">&#160;&#160;&#160;&#160; </td>
<td colspan="3" valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">The Committee Chair Service Option granted to the Audit Committee Chairman shall be an Option to purchase 8,000 Shares, and the Committee Chair Service Option granted to each of the Chairmen of the other eligible Board committees (including the Compensation Committee Chairman and Nominating Committee Chairman) shall be an Option to purchase 4,000 Shares.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="7" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(ii)</font></td>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">The number of Shares subject to the Committee Chair Service Stock Award granted to the Audit Committee Chairman shall be 4,000 Shares, and the number of Shares subject to the Committee Chair Service Stock Award granted to each of the Chairmen of the other eligible Board committees (including the Compensation Committee Chairman and Nominating Committee Chairman) shall be 2,000 Shares.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="7" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(f)</font></td>
<td nowrap valign="top">&#160;</td>
<td colspan="5" valign="top" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Limitations</font></font><font size="2" style="FONT-FAMILY: times new roman">.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="7" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(i)</font></td>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">Notwithstanding the provisions of subsections 5(b), (c), (d) and (e) hereof, in the event that a grant would cause the number of Shares subject to outstanding Awards plus the number of Shares previously issued pursuant to Awards to exceed the Pool, then each such automatic grant shall be for that number of Shares determined by dividing the total number of Shares remaining available for grant by the number of Outside Directors receiving an Award on such date on the automatic grant date, rounded down to the nearest whole Share. Any further grants shall then be deferred until such time, if any, as additional Shares become available for grant under the Plan through action of the stockholders to increase the number of Shares which may be issued under the Plan or through cancellation or expiration of Awards previously granted hereunder.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="7" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(ii)</font></td>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">The terms of each Option granted under this Section 5 shall be as follows:</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="7" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(1)</font></td>
<td nowrap valign="top">&#160;&#160;&#160;&#160; </td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">the Option shall be exercisable only while the Outside Director remains a Director of the Company, except as set forth in Section 10 hereof.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="7" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(2)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">the exercise price per Share shall be 100% of the fair market value per Share on the date of grant of the Option, determined in accordance with Section 9 hereof.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="7" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(3)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">the First Option shall become exercisable in installments cumulatively as to 33 1/3% of the Shares subject to the First Option on each of the first, second and third anniversaries of the date of grant of the First Option; shares subject to a (A) Subsequent Option, (B) Committee Service Option, or (C) Committee Chair Service Option, shall be exercisable as to one hundred percent (100%) of the Shares subject to the Option on the date of grant of such Option. Notwithstanding the foregoing, exercise of an Option is subject to limitation as provided in Section 4(e) above.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td colspan="7" valign="top" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(iii)</font></td>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">Shares subject to Awards of Restricted Stock granted pursuant to Sections 5(c), 5(d) and 5(e) shall vest in equal annual installments (i.e., 25% of the Shares) on each of the earlier to occur of (A) the Annual Meeting of the Company&#8217;s stockholders or (B) the anniversary of the date of grant, for the four years immediately following the date of grant; </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: times new roman">provided </font></font><font size="2" style="FONT-FAMILY: times new roman">that the Outside Director continues to serve as a Director on the applicable vesting date. Notwithstanding the foregoing, in the event that an Outside Director is unable to continue his or her service as a Director as a result of his or her total and permanent disability (as defined in Section 22(e)(3) of the Code) or death, all shares subject to Awards of Restricted Stock granted to such Outside Director pursuant to Sections 5(c), 5(d) or 5(e) shall vest in full as of the date of his or her termination of service due to such total and permanent disability or death. No payment shall be required from the Outside Director in order to receive a Subsequent Stock Award, a Committee Service Stock Award or a Committee Chair Service Stock Award. Upon the termination of a Participant&#8217;s <font size="2" style="FONT-FAMILY: times new roman">Continuous Status as a Director for any reason, any unvested Shares acquired pursuant to an Award of Restricted Stock granted pursuant to Section 5(c), 5(d) or 5(e) as of the date of such termination shall be forfeited to the Company without the payment of any consideration by the Company. Awards of Restricted Stock granted pursuant to Sections 5(c), 5(d) and 5(e) shall be evidenced by an Award Agreement containing such terms deemed necessary or desirable by the Board that are not inconsistent with the Plan or any applicable law.</font></font></td>
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<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">4</font></div>

<div>&#160;</div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">6.</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"> </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Eligibility</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">. </font></font></div>

<div>&#160;</div>

<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">Awards may be granted only to Outside Directors. All Awards described in Section 5 shall be automatically granted in accordance with the terms set forth in Section 5. In addition, the Board may make discretionary grants of Options, Restricted Stock and/or Restricted Stock Units to Outside Directors. An Outside Director who has been granted an Award may, if he or she is otherwise eligible, be granted an additional Award or Awards in accordance with such provisions. </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>The Plan (as well as any Award granted hereunder) shall not confer upon any Participant any right with respect to continuation of service as a Director or nomination to serve as a Director, nor shall it interfere in any way with any rights which the Director or the Company may have to terminate his or her directorship at any time. </font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">7.</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"> </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Term of Plan; Effective Date</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">. </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>The Plan shall become effective upon its initial adoption by the Board and shall continue in effect until it is terminated under Section 16 of the Plan. No Awards may be issued under the Plan after the tenth (10th) anniversary of the earlier of (a) the date upon which the Plan is adopted by the Board or (b) the date the Plan is approved by the stockholders. </font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">8.</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"> </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Term of Options</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">. </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>The term of each Option granted pursuant to Section 5 shall be ten (10) years from the date of grant thereof. The term of each discretionary Option granted pursuant to the Plan shall have a term specified by the Board at the time of grant, which term shall not exceed ten (10) years from the date of grant thereof. </font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">9.</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"> </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Exercise Price and Consideration</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">. </font></font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" style="">
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<td nowrap valign="top">&#160;&#160; &#160;&#160; </td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(a)</font></td>
<td nowrap valign="top">&#160;&#160;&#160;&#160; </td>
<td width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Exercise Price</font></font><font size="2" style="FONT-FAMILY: times new roman">. The per Share exercise price for the Shares to be issued pursuant to exercise of an Option shall be 100% of the fair market value per Share on the date of grant of the Option.</font></td>
</tr><tr>
<td nowrap>&#160;</td>
<td colspan="3" width="100%">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(b)</font></td>
<td nowrap valign="top">&#160;</td>
<td width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Fair Market Value</font></font><font size="2" style="FONT-FAMILY: times new roman">. The fair market value shall be determined by the Board; </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: times new roman">provided</font></font><font size="2" style="FONT-FAMILY: times new roman">, </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: times new roman">however</font></font><font size="2" style="FONT-FAMILY: times new roman">, that where there is a public market for the Common Stock, the fair market value per Share shall be the mean of the bid and ask prices of the Common Stock in the over-the-counter market on the date of grant, or if no closing bid and asked prices were reported for such date, the date immediately prior to such date during which closing bid and asked prices were quoted for such Common Stock, in each case as reported in </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: times new roman">The Wall Street Journal </font></font><font size="2" style="FONT-FAMILY: times new roman">or such other source as the Board deems reliable or, in the event the Common Stock is listed on any established stock exchange or a national market system, the fair market value per Share shall be the closing sales price for a share of such stock (or the closing bid, if no sales were reported) as quoted on such exchange or system on the date of grant of the Option, or if no bids or sales were reported for such date, then the closing sales price (or the closing bid, if no sales were reported) on the trading date immediately prior to such date during which a bid or sale occurred, in each case, as reported in <font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: times new roman">The Wall Street Journal </font></font><font size="2" style="FONT-FAMILY: times new roman">or such other source as the Board deems reliable.</font></font></td>
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<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">5</font></div>

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<td nowrap valign="top">&#160;&#160; &#160;&#160; </td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(c)</font></td>
<td nowrap valign="top">&#160;&#160;&#160;&#160; </td>
<td width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Form of Consideration</font></font><font size="2" style="FONT-FAMILY: times new roman">. The consideration to be paid for the Shares to be issued upon exercise of an Option shall consist entirely of cash, check, other Shares of Common Stock having a fair market value on the date of surrender equal to the aggregate exercise price of the Shares as to which said Option shall be exercised (which, if acquired from the Company, shall have been held for at least such holding period as is required in order to avoid a charge to the Company&#8217;s earnings for financial statement purposes), or any combination of such methods of payment and/or any other consideration or method of payment as shall be permitted under applicable corporate law, including, without limitation, by withholding Shares that would otherwise be issued upon the exercise of such Option, subject to applicable laws and regulations concerning withholding.</font></td>
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<div align="left">&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">10.</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"> </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Exercise of Option</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">. </font></font></div>

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<div>
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<td nowrap valign="top">&#160;&#160; &#160;&#160; </td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(a)</font></td>
<td nowrap valign="top">&#160;&#160;&#160;&#160; </td>
<td width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Procedure for Exercise; Rights as a Stockholder</font></font><font size="2" style="FONT-FAMILY: times new roman">. Any Option granted pursuant to Section 5 shall be exercisable at such times as are set forth in Section 5 hereof; </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: times new roman">provided</font></font><font size="2" style="FONT-FAMILY: times new roman">, </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: times new roman">however</font></font><font size="2" style="FONT-FAMILY: times new roman">, that no Options shall be exercisable prior to stockholder approval of the Plan in accordance with Section 20 hereof has been obtained. Each discretionary Option granted pursuant to the Plan shall be exercisable at such times specified by the Board at the time of grant.</font></td>
</tr></table>
</div>

<div align="left">&#160;</div>

<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">An Option may not be exercised for a fraction of a Share. </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>An Option shall be deemed to be exercised when written notice of such exercise has been given to the Company in accordance with the terms of the Option by the person entitled to exercise the Option and full payment for the Shares with respect to which the Option is exercised has been received by the Company. Full payment may consist of any consideration and method of payment allowable under Section 9(c). Until the issuance (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company) of the stock certificate evidencing such Shares, no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to the Shares acquired upon exercise of an Option, notwithstanding the exercise of the Option. A share certificate for the number of Shares so acquired shall be issued to the Participant as soon as practicable after exercise of the Option. No adjustment will be made for a dividend or other right for which the record date is prior to the date the stock certificate is issued, except as provided in Section 14. </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Exercise of an Option in any manner shall result in a decrease in the number of Shares which thereafter may be available, both for purposes of the Plan and for sale under the Option, by the number of Shares as to which the Option is exercised. The post-termination exercise provisions set forth in Sections 10(b), 10(c) and 10(d) shall apply to Options automatically granted pursuant to Section 5, and, to the extent provided by the Board at the time of grant, to Options granted by the Board pursuant to its discretionary authority. However, Options granted by the Board pursuant to its discretionary authority may contain post-termination exercise provisions which differ from those set forth below.</font></div>

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<table border="0" cellpadding="0" cellspacing="0" style="">
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<td nowrap valign="top">&#160;&#160; &#160;&#160; </td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(b)</font></td>
<td nowrap valign="top">&#160;&#160;&#160;&#160; </td>
<td width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Termination of Status as a Director</font></font><font size="2" style="FONT-FAMILY: times new roman">. If an Outside Director ceases to serve as a Director (other than by reason of the Participant&#8217;s death or the total and permanent disability of the Participant as defined in Code Section 22(e)(3) and subject to Section 4(e) hereof), he or she may, but only within thirty-six (36) months from the date he or she ceases to be a Director of the Company, exercise his or her Option to the extent that he or she was entitled to exercise it at the date of such termination. Notwithstanding the foregoing, in no event may the Option be exercised after its term set forth in Section 8 has expired. To the extent that such Outside Director was not entitled to exercise an Option at the date of such termination, or does not exercise such Option (which he or she was entitled to exercise) within the time specified herein, the Option shall terminate. For the avoidance of doubt, if the Outside Director commits an act described in Section 4(e) hereof, neither the Outside Director nor his or her estate shall be entitled to exercise any Option whatsoever and the Option shall terminate as of the date of determination pursuant to Section 4(e) hereof.</font></td>
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<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">6</font></div>

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<td>&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(c)</font></td>
<td nowrap valign="top">&#160;</td>
<td colspan="3" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Disability of Participant</font></font><font size="2" style="FONT-FAMILY: times new roman">. Notwithstanding Section 10(b) above, in the event an Outside Director is unable to continue his or her service as a Director of the Company as a result of his or her total and permanent disability (as defined in Section 22(e)(3) of the Code), he or she may, but only within twenty-four (24) months from the date of such termination, exercise his or her Option to the extent of the right to exercise that would have accrued had the Participant remained in Continuous Status as Director for thirty-six (36) months (or such lesser period of time as is determined by the Board) after the date of such termination. Notwithstanding the foregoing, in no event may the Option be exercised after its term set forth in Section 8 has expired. To the extent that he or she does not exercise such Option (which he or she was entitled to exercise) within the time specified herein, the Option shall terminate.</font></td>
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<td colspan="6">&#160;</td>
</tr><tr>
<td>&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(d)</font></td>
<td nowrap valign="top">&#160;</td>
<td colspan="3" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Death of Participant</font></font><font size="2" style="FONT-FAMILY: times new roman">. In the event of the death of a Participant:</font></td>
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<td colspan="6">&#160;</td>
</tr><tr>
<td>&#160;</td>
<td>&#160;</td>
<td>&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(i)</font></td>
<td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;&#160; </td>
<td width="100%"><font size="2" style="FONT-FAMILY: times new roman">During the term of the Option, if the Participant is, at the time of his or her death, a Director of the Company and has been in Continuous Status as a Director since the date of grant of the Option, the Option may be exercised, at any time within twenty-four (24) months following the date of death, by the Participant&#8217;s estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent of the right to exercise that would have accrued had the Participant continued living and remained in Continuous Status as Director for thirty-six (36) months (or such lesser period of time as is determined by the Board) after the date of death. Notwithstanding the foregoing, in no event may the Option be exercised after its term set forth in Section 8 has expired.</font></td>
</tr><tr>
<td colspan="6">&#160;</td>
</tr><tr>
<td>&#160;</td>
<td>&#160;</td>
<td>&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(ii)</font></td>
<td nowrap valign="top">&#160;</td>
<td width="100%"><font size="2" style="FONT-FAMILY: times new roman">Within three (3) months after the termination of Continuous Status as a Director, the Option may be exercised, at any time within six (6) months following the date of death, by the Participant&#8217;s estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent of the right to exercise that had accrued at the date of termination. Notwithstanding the foregoing, in no event may the option be exercised after its term set forth in Section 8 has expired.</font></td>
</tr><tr>
<td colspan="6">&#160;</td>
</tr><tr>
<td colspan="6"><font style="DISPLAY: inline; FONT-WEIGHT: bold">11. <font style="DISPLAY: inline; TEXT-DECORATION: underline">Restricted Stock</font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">.</font></font></font></td>
</tr><tr>
<td colspan="6">&#160;</td>
</tr><tr>
<td>&#160;&#160;&#160;&#160;&#160;&#160; </td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(a)</font></td>
<td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;&#160; </td>
<td colspan="3" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">General</font></font><font size="2" style="FONT-FAMILY: times new roman">. In addition to the Awards of Restricted Stock which are automatically granted pursuant to Sections 5(c), 5(d) and 5(e) above, Restricted Stock may be issued to an Outside Director at the discretion of the Board, in accordance with this Section 11. The Board shall specify the terms, conditions and restrictions related to the Restricted Stock, including the number of Shares and the vesting restrictions (if any) applicable to the Shares. The Board shall also establish the purchase price, if any, and form of payment for the Restricted Stock; </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: times new roman">provided</font></font><font size="2" style="FONT-FAMILY: times new roman">, </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: times new roman">however</font></font><font size="2" style="FONT-FAMILY: times new roman">, that if a purchase price is charged, such purchase price shall be no less than the par value of the Shares to be purchased, unless otherwise permitted by applicable state law. In all cases, legal consideration shall be required for each issuance of Restricted Stock.</font></td>
</tr><tr>
<td colspan="6">&#160;</td>
</tr><tr>
<td>&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(b)</font></td>
<td nowrap valign="top">&#160;</td>
<td colspan="3" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Repurchase or Forfeiture</font></font><font size="2" style="FONT-FAMILY: times new roman">. Unless the Board determines otherwise, the Award Agreement evidencing a Restricted Stock Award granted under Section 11 shall grant the Company, upon the termination of the Participant&#8217;s Continuous Status as a Director for any reason, the forfeiture of unvested Shares acquired pursuant to an Award of Restricted Stock (or the right to repurchase such Shares at the Outside Director&#8217;s original purchase price if the Outside Director paid a price to acquire such Shares).</font></td>
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<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">7</font></div>

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<table border="0" cellpadding="0" cellspacing="0" style="FONT-SIZE: 10pt; LINE-HEIGHT: 12pt; BORDER-COLLAPSE: collapse; ">
<tr>
<td valign="top">&#160;&#160;&#160;&#160;&#160;&#160; </td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(c)</font></td>
<td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;&#160; </td>
<td valign="top" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Other Provisions</font></font><font size="2" style="FONT-FAMILY: times new roman">. Restricted Stock shall be evidenced by an Award Agreement which shall contain such other terms, provisions and conditions not inconsistent with the Plan as may be determined by the Board in its sole discretion.</font></td>
</tr><tr>
<td colspan="4" valign="top">&#160;</td>
</tr><tr>
<td valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(d)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Rights as a Stockholder</font></font><font size="2" style="FONT-FAMILY: times new roman">. Upon the issuance of the Restricted Stock, the Participant shall have rights equivalent to those of a stockholder and shall be a stockholder when his or her issuance or purchase is entered upon the records of the duly authorized transfer agent of the Company. No adjustment shall be made for a dividend or other right for which the record date is prior to the date of the Restricted Stock issuance, except as provided in Section 14 of the Plan.</font></td>
</tr><tr>
<td colspan="4" valign="top">&#160;</td>
</tr><tr>
<td valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(e)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Certificates for Restricted Stock</font></font><font size="2" style="FONT-FAMILY: times new roman">. Restricted Stock granted pursuant to the Plan may be evidenced in such manner as the Board shall determine. Certificates or book entries evidencing shares of Restricted Stock must include an appropriate legend referring to the terms, conditions, and restrictions applicable to such Restricted Stock, and the Company may, in it sole discretion, retain physical possession of any stock certificate until such time as all applicable restrictions lapse.</font></td>
</tr><tr>
<td colspan="4" valign="top">&#160;</td>
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<td valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(f)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Section 83(b) Election</font></font><font size="2" style="FONT-FAMILY: times new roman">. If a Participant makes an election under Section 83(b) of the Code to be taxed with respect to the Restricted Stock as of the date of transfer of the Restricted Stock rather than as of the date or dates upon which the Participant would otherwise be taxable under Section 83(a) of the Code, the Participant shall be required to deliver a copy of such election to the Company promptly after filing such election with the Internal Revenue Service.</font></td>
</tr><tr>
<td colspan="4" valign="top">&#160;</td>
</tr><tr>
<td colspan="4" valign="top"><font style="DISPLAY: inline; FONT-WEIGHT: bold">12. <font style="DISPLAY: inline; TEXT-DECORATION: underline">Restricted Stock Units</font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">.</font></font></font></td>
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<td colspan="4" valign="top">&#160;</td>
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<td valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(a)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">General</font></font><font size="2" style="FONT-FAMILY: times new roman">. An Outside Director selected by the Board may be granted an award of Restricted Stock Units in the manner determined from time to time by the Board. The number and terms and conditions of Restricted Stock Units shall be determined by the Board.</font></td>
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<td colspan="4" valign="top">&#160;</td>
</tr><tr>
<td valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(b)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Vesting and Distribution</font></font><font size="2" style="FONT-FAMILY: times new roman">. The Board shall specify the date or dates on which the Restricted Stock Units shall become fully vested and nonforfeitable, and may specify such vesting conditions as it deems appropriate, including continued service as a Director or conditions based on one or more performance criteria. The Board shall specify, or permit the Participant to elect, the conditions and dates upon which the Shares underlying the Restricted Stock Units shall be issued, which dates shall not be earlier than the date as of which the Restricted Stock Units vest and become nonforfeitable and which conditions and dates shall be exempt from or subject to compliance with Section 409A of the Code. Restricted Stock Units may be paid in cash, Shares, or both, as determined by the Board. On the distribution dates, to the extent the Board determines that the Restricted Stock Units shall be paid in Shares, the Company shall issue to the Participant one unrestricted, fully transferable Share (or the fair market value of one such Share in cash) for each vested and nonforfeitable Restricted Stock Unit.</font></td>
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<td colspan="4" valign="top">&#160;</td>
</tr><tr>
<td valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(c)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Rights as a Stockholder</font></font><font size="2" style="FONT-FAMILY: times new roman">. Unless otherwise provided by the Board, a Participant awarded Restricted Stock Units shall have no rights as a Company stockholder with respect to such Restricted Stock Units until such time as the Restricted Stock Units have vested and the Common Stock underlying the Restricted Stock Units has been issued.</font></td>
</tr><tr>
<td colspan="4" valign="top">&#160;</td>
</tr><tr>
<td valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(d)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Other Terms</font></font><font size="2" style="FONT-FAMILY: times new roman">. All Restricted Stock Units shall be subject to such additional terms and conditions as determined by the Board and shall be evidenced by a written Award Agreement.</font></td>
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</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">13.</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"> </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Nontransferability of Awards</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">. </font></font></div>

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<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">An Award may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution or pursuant to a qualified domestic relations order (as defined by the Code or the rules thereunder). The designation of a beneficiary by a Participant does not constitute a transfer. An exercisable Option may be exercised during the lifetime of a Participant only by the Participant or a transferee permitted by this Section.</font></div>

<div>&#160;</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">8</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">14.</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"> </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Adjustments Upon Changes in Capitalization; Corporate Transactions</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">. </font></font></div>

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<td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;&#160; </td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(a)</font></td>
<td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;&#160; </td>
<td valign="top" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Adjustment</font></font><font size="2" style="FONT-FAMILY: times new roman">. Subject to any required action by the stockholders of the Company, the number of shares of Common Stock covered by each outstanding Award, the number of shares of Common Stock which have been authorized for issuance under the Plan but as to which no Awards have yet been granted or which have been returned to the Plan upon cancellation, expiration or lapse of an Award, and the number of shares of Common Stock to be granted under the provisions set forth in Section 5 of the Plan, as well as the price per share of Common Stock covered by each such outstanding Award, shall be proportionately adjusted for any increase or decrease in the number of issued shares of Common Stock resulting from a stock split, reverse stock split, stock dividend, combination or reclassification of the Common Stock, or any other increase or decrease in the number of issued shares of Common Stock effected without receipt of consideration by the Company; </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: times new roman">provided</font></font><font size="2" style="FONT-FAMILY: times new roman">, </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: times new roman">however</font></font><font size="2" style="FONT-FAMILY: times new roman">, that conversion of any convertible securities of the Company shall not be deemed to have been &#8220;effected without receipt of consideration.&#8221; Such adjustment shall be made by the Board, whose determination in that respect shall be final, binding and conclusive. Except as expressly provided herein, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares of Common Stock subject to an Award.</font></td>
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<td colspan="3" valign="top">&#160;</td>
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<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(b)</font></td>
<td nowrap valign="top">&#160;</td>
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</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">15.</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"> </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Time of Granting Awards</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">. </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>The date of grant of an Award pursuant to Section 5 shall, for all purposes, be the date determined in accordance with Section 5 hereof. The date of grant of other Awards shall be the date on which the Board makes the determination granting such Award. Notice of the determination shall be given to each Outside Director to whom an Award is so granted within a reasonable time after the date of such grant. </font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">16.</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"> </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Amendment and Termination of the Plan</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">. </font></font></div>

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<div>
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<tr>
<td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;&#160; </td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(a)</font></td>
<td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;&#160; </td>
<td valign="top" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Amendment and Termination</font></font><font size="2" style="FONT-FAMILY: times new roman">. The Board may amend or terminate the Plan from time to time in such respects as the Board may deem advisable; </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: times new roman">provided</font></font><font size="2" style="FONT-FAMILY: times new roman">, </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: times new roman">that</font></font><font size="2" style="FONT-FAMILY: times new roman">, to the extent necessary and desirable to comply with any applicable law or regulation, the Company shall obtain approval of the stockholders of the Company of Plan amendments to the extent and in the manner required by such law or regulation.</font></td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%">&#160;</td>
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<td nowrap valign="top">&#160;</td>
<td nowrap valign="top">(b)</td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Effect of Amendment or Termination</font><font size="2" style="FONT-FAMILY: times new roman">. Any such amendment or termination of the Plan that would impair the rights of any Participant shall not affect Awards already granted to such Participant and such Awards shall remain in full force and effect as if this Plan had not been amended or terminated, unless mutually agreed otherwise between the Participant and the Board, which agreement must be in writing and signed by the Participant and the Company.</font></td>
</tr></table>
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<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">9</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">17.</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"> </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Conditions Upon Issuance of Shares</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">. </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Shares shall not be issued pursuant to an Award unless the issuance and delivery of such Shares pursuant thereto shall comply with all relevant provisions of law, including, without limitation, the Securities Act of 1933, as amended, the Exchange Act, the rules and regulations promulgated thereunder, state securities laws, and the requirements of any stock exchange upon which the Shares may then be listed, and shall be further subject to the approval of counsel for the Company with respect to such compliance. As a condition to the issuance of Shares pursuant to an Award, the Company may require the person acquiring such Shares to represent and warrant at the time of any such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares, if, in the opinion of counsel for the Company, such a representation is required by any of the aforementioned relevant provisions of law. </font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">18.</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"> </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Reservation of Shares</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">. </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>The Company, during the term of this Plan, will at all times reserve and keep available such number of Shares as shall be sufficient to satisfy the requirements of the Plan. Inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Company&#8217;s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained. </font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">19.</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"> </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Award Agreement</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">. </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Awards shall be evidenced by Award Agreements in such form as the Board shall approve. </font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">20.</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"> </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Stockholder Approval</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">. </font></font></div>

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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>The Plan will be submitted for the approval of the Company&#8217;s stockholders within twelve (12) months after the date of the Board&#8217;s initial adoption of the Plan. Awards may be granted or awarded prior to such stockholder approval, </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">provided that</font></font><font size="2" style="FONT-FAMILY: Times New Roman"> such Awards shall not be exercisable, shall not vest and the restrictions thereon shall not lapse prior to the time when the Plan is approved by the stockholders, and </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">provided further that</font></font><font size="2" style="FONT-FAMILY: Times New Roman"> if such approval has not been obtained at the end of said twelve-month period, all Awards previously granted or awarded under the Plan shall thereupon be canceled and become null and void. </font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">21.</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"> </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Section 409A</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">. </font></font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>To the extent that the Board determines that any Award granted under the Plan is subject to Section 409A of the Code, the Award Agreement evidencing such Award shall incorporate the terms and conditions required by Section 409A of the Code. To the extent applicable, the Plan and Award Agreements shall be interpreted in accordance with Section 409A of the Code and Department of Treasury regulations and other interpretive guidance issued thereunder, including, without limitation, any such regulations or other applicable guidance that may be issued. Notwithstanding any provision of the Plan to the contrary, in the event that the Board determines that any Award may be subject to Section 409A of the Code and related Department of Treasury guidance, the Board may adopt such amendments to the Plan and the applicable Award Agreement (with the consent of the Participant, to the extent required) or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, that the Board determines are necessary or appropriate to (a) exempt <font size="2" style="FONT-FAMILY: Times New Roman">the Award from Section 409A of the Code and/or preserve the intended tax treatment of the benefits provided with respect to the Award, or (b) comply with the requirements of Section 409A of the Code and related Department of Treasury guidance and thereby avoid the application of any penalty taxes under such Section. </font></font></div>

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<TYPE>EX-10.3
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<DESCRIPTION>OFFER LETTER AGREEMENT BETWEEN REGISTRANT AND MELANIE I. NALLICHERI
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<div align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">EXHIBIT 10.3 </font></font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman">February 1, 2011 </font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman">Melanie Nallicheri <br>
140 Clarendon Avenue<br>
San Francisco, CA 94114 </font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman">Dear Melanie: </font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman">On behalf of Geron Corporation ("Geron"), I am pleased to extend you an offer of employment as Senior Vice President, Corporate Development, Cell Therapies. This is a corporate officer, regular full-time exempt position, reporting directly to me. You will be a member of the Geron Operating Committee, the strategy-setting body of the Company. </font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman">Your annual salary will be $310,000 which will be paid on a semi-monthly basis. In addition, you will be granted options to purchase one hundred thousand (100,000) shares of Geron common stock at an exercise price equal to the fair market value of such shares at the date the options are granted. According to our 2002 Equity Incentive Plan, the options will be granted on the third Wednesday of the month following your start date. The vesting schedule is as follows: 12.5% of the options will vest after your first six months of employment, with the remainder vesting monthly over the following 42 months. You will be asked to sign a Stock Option Agreement, and the terms of your options will be governed in all respects by the terms of the Stock Option Agreement and Equity Incentive Plan.</font></div>

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<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman">In addition, you will be granted 15,000 shares of Geron common stock, which will fully vest on the second anniversary of your employment. </font></div>

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<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman">As a regular full-time employee you will be eligible to participate in the company&#8217;s medical, dental, vision, life insurance, long-term disability insurance and paid time off programs as outlined in Geron&#8217;s Employee Handbook. Medical, dental, and vision benefits begin the first day of the month following your date of hire. You may also sign up to participate in our 401(k) Retirement Savings Plan and our Employee Stock Purchase Plan.</font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman">You will also be eligible to participate in the company&#8217;s incentive bonus program. This is a variable and discretionary program, generally considered at the end of each year. It is tied to the achievement of certain performance goals established for the Company and each individual. The total bonus pool available is determined at the discretion of the Geron Board of Directors and distributed based on individual and company performance. Your potential bonus is 40% of your base salary. </font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman">As a condition of employment, you must agree to the terms of and sign the enclosed Proprietary Information and Inventions Agreement. Please sign page 4 and Exhibit A of the Agreement and return it with this letter. You will also be obligated to comply with all company policies and procedures. We will arrange a new-employee orientation for you shortly after your arrival. </font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman">In accordance with Federal Law, all new employees are required to present evidence of their eligibility to be employed in the United States. Accordingly, we request that you provide us with a copy of an appropriate document for this purpose within 72 hours of&#160;<font size="2" style="FONT-FAMILY: Times New Roman">your employment date. This may be a birth certificate, a passport, a visa or driver&#8217;s license and social security card.</font></font></div>

<div><font size="2" style="FONT-FAMILY: Times New Roman">&#160;</font></div>

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<div id="PGBRK">
<div id="PN" style="PAGE-BREAK-BEFORE: always">&#160;</div>
</div>

<br>
<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman">Your employment is &#8220;at will&#8221;. You or the Company may terminate employment at any time with or without cause, with or without notice. This letter, when signed by you, will constitute the complete agreement between Geron and you with respect to the duration of your employment and the initial terms of the position, and supersedes all prior negotiations and agreements pertaining to the position, whether written or oral. No special or implied conditions or terms of employment and no amendment to the at-will nature of your employment will be binding unless made in writing and signed by the President or Chief Financial Officer of the Company and you. </font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman">If this arrangement is acceptable to you, please indicate your acceptance by returning a signed copy of this offer letter and the Proprietary Information and Inventions Agreement to Human Resources. This offer of employment will expire on </font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">February 7, </font></font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">2011</font></font><font size="2" style="FONT-FAMILY: Times New Roman"> unless accepted prior to that date. </font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman">Sincerely, </font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman">/s/ David L. Greenwood </font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman">David L. Greenwood <br>
</font><font size="2" style="FONT-FAMILY: Times New Roman">Chief Financial Officer and Executive Vice President </font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman">Enclosures </font></div>

<div>&#160;</div>

<div>
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<td align="left" nowrap width="15%">&#160;&#160;&#160;&#160;&#160;&#160; </td>
<td align="left" nowrap width="29%">&#160;</td>
<td align="left" nowrap width="21%">&#160;</td>
</tr><tr>
<td align="left" nowrap width="35%">&#160;</td>
<td align="left" nowrap width="15%">&#160;</td>
<td align="left" nowrap width="29%">&#160;</td>
<td align="left" nowrap width="21%">&#160;</td>
</tr><tr>
<td align="left" nowrap width="35%">&#160;</td>
<td align="left" nowrap width="15%">&#160;</td>
<td align="left" nowrap width="29%">&#160;</td>
<td align="left" nowrap width="21%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="35%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">/s/ Melanie Nallicheri</font></td>
<td align="left" nowrap width="15%">&#160;</td>
<td align="left" nowrap width="29%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">02/03/2011</font></td>
<td align="left" nowrap width="21%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="35%"><font size="2" style="FONT-FAMILY: times new roman">Melanie Nallicheri</font></td>
<td align="left" nowrap width="15%">&#160;</td>
<td align="left" nowrap width="29%"><font size="2" style="FONT-FAMILY: times new roman">Date</font></td>
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<br>
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<TYPE>EX-31.1
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<FILENAME>exhibit31-1.htm
<DESCRIPTION>CERTIFICATION OF INTERIM CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER
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<div align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">EXHIBIT 31.1</font></font><font size="2" style="FONT-FAMILY: Times New Roman"> </font></div>

<div>&#160;</div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">CERTIFICATION PURSUANT TO<br>
FORM OF RULE 13a-14(a) AND 15d-14(a)<br>
AS ADOPTED PURSUANT TO<br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">SECTION 302(A) OF THE SARBANES-OXLEY ACT OF 2002</font></font></div>

<div>&#160;</div>

<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">I, David L. Greenwood, President, Interim Chief Executive Officer and Chief Financial Officer of Geron Corporation, certify that: </font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" style="FONT-SIZE: 10pt; LINE-HEIGHT: 12pt; BORDER-COLLAPSE: collapse; ">
<tr>
<td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;&#160; </td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">1.</font></td>
<td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;&#160; </td>
<td colspan="3" valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">I have reviewed this quarterly report on Form 10-Q of Geron Corporation;</font></td>
</tr><tr>
<td valign="top">&#160;</td>
<td colspan="5" valign="top">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">2.</font></td>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</font></td>
</tr><tr>
<td valign="top">&#160;</td>
<td colspan="5" valign="top">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">3.</font></td>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</font></td>
</tr><tr>
<td valign="top">&#160;</td>
<td colspan="5" valign="top">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">4.</font></td>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">The registrant&#8217;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</font></td>
</tr><tr>
<td valign="top">&#160;</td>
<td colspan="5" valign="top">&#160;</td>
</tr><tr>
<td valign="top">&#160;</td>
<td valign="top">&#160;</td>
<td valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(a)</font></td>
<td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;&#160; </td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</font></td>
</tr><tr>
<td valign="top">&#160;</td>
<td colspan="5" valign="top">&#160;</td>
</tr><tr>
<td valign="top">&#160;</td>
<td valign="top">&#160;</td>
<td valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(b)</font></td>
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<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</font></td>
</tr><tr>
<td valign="top">&#160;</td>
<td colspan="5" valign="top">&#160;</td>
</tr><tr>
<td valign="top">&#160;</td>
<td valign="top">&#160;</td>
<td valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(c)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">Evaluated the effectiveness of the registrant&#8217;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</font></td>
</tr><tr>
<td valign="top">&#160;</td>
<td colspan="5" valign="top">&#160;</td>
</tr><tr>
<td valign="top">&#160;</td>
<td valign="top">&#160;</td>
<td valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(d)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">Disclosed in this report any change in the registrant&#8217;s internal control over financial reporting that occurred during the registrant&#8217;s most recent fiscal quarter (the registrant&#8217;s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&#8217;s internal control over financial reporting; and</font></td>
</tr><tr>
<td valign="top">&#160;</td>
<td colspan="5" valign="top">&#160;</td>
</tr><tr>
<td nowrap valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">5.</font></td>
<td nowrap valign="top">&#160;</td>
<td colspan="3" valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">The registrant&#8217;s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&#8217;s auditors and the audit committee of the registrant&#8217;s board of directors (or persons performing the equivalent functions):</font></td>
</tr><tr>
<td valign="top">&#160;</td>
<td colspan="5" valign="top">&#160;</td>
</tr><tr>
<td valign="top">&#160;</td>
<td valign="top">&#160;</td>
<td valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(a)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&#8217;s ability to record, process, summarize and report financial information; and</font></td>
</tr><tr>
<td valign="top">&#160;</td>
<td colspan="5" valign="top">&#160;</td>
</tr><tr>
<td valign="top">&#160;</td>
<td valign="top">&#160;</td>
<td valign="top">&#160;</td>
<td nowrap valign="top"><font size="2" style="FONT-FAMILY: times new roman">(b)</font></td>
<td nowrap valign="top">&#160;</td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#8217;s internal control over financial reporting.</font></td>
</tr></table>
</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman">&#160;</font></div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman">Date: August 5, 2011 </font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">/s/ DAVID L. GREENWOOD<br>
</font></font><font size="2" style="FONT-FAMILY: Times New Roman">David L. Greenwood <br>
</font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">President, Interim Chief Executive Officer and Chief Financial Officer</font></font></div>

<div>&#160;</div>

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<TYPE>EX-32.1
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<DESCRIPTION>CERTIFICATION OF INTERIM CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER
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<br>
<div align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">EXHIBIT 32.1</font></font><font size="2" style="FONT-FAMILY: Times New Roman"> </font></div>

<div>&#160;</div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">CERTIFICATION PURSUANT TO<br>
18 U.S.C. SECTION 1350,<br>
AS ADOPTED PURSUANT TO<br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</font></font></div>

<div>&#160;</div>

<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">Pursuant to 18 U.S.C. Section 1350, as created by Section 906 of the Sarbanes-Oxley Act of 2002, the undersigned officer of Geron Corporation (the &#8220;Company&#8221;) hereby certifies, to such officer&#8217;s knowledge, that:</font></div>

<div>&#160;</div>

<div>
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<tr>
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<td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;&#160; </td>
<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">the accompanying quarterly report on Form 10-Q of the Company for the quarter ended June 30, 2011 (the &#8220;Report&#8221;) fully complies with the requirements of Section 13(a) or Section 15(d), as applicable, of the Securities Exchange Act of 1934, as amended; and</font></td>
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<td valign="top" width="100%"><font size="2" style="FONT-FAMILY: times new roman">the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</font></td>
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<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman">&#160;</font></div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman">Dated: August 5, 2011 </font></div>

<div>&#160;</div>

<div align="left"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">/s/ DAVID L. GREENWOOD<br>
</font></font><font size="2" style="FONT-FAMILY: Times New Roman">David L. Greenwood <br>
</font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">President, Interim Chief Executive Officer and Chief Financial Officer </font></font></div>

<div>&#160;</div>

<div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">A signed original of this written statement required by Section 906 has been provided to Geron Corporation and will be retained by Geron Corporation and furnished to the Securities and Exchange Commission or its staff upon request.</font></div>

<div>&#160;</div>

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<us-gaap:IncreaseDecreaseInRestrictedCash contextRef="Context_6ME_30-Jun-2011" unitRef="USD" decimals="-3">1000</us-gaap:IncreaseDecreaseInRestrictedCash>
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<us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock contextRef="Context_6ME_30-Jun-2011">&lt;div&gt;&lt;div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES&lt;br /&gt;
&lt;br /&gt;
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Basis of Presentation
&lt;/font&gt;
&lt;/font&gt;&lt;font style="font-family:times new roman;" &gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;font style="font-family:times new roman;" &gt;The terms &amp;#8220;Geron&amp;#8221;, the &amp;#8220;Company&amp;#8221;, &amp;#8220;we&amp;#8221; and &amp;#8220;us&amp;#8221; as used in this report refer to Geron Corporation. The accompanying unaudited condensed consolidated balance sheet as of June 30, 2011 and unaudited condensed consolidated statements of operations for the three and six months ended June 30, 2011 and 2010 have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management of Geron, all adjustments (consisting only of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and six month periods ended June 30, 2011 are not necessarily indicative of the results that may be expected for the year ending December 31, 2011 or any other period. These financial statements and notes should be read in conjunction with the financial statements for each of the three years ended December 31, 2010, included in the Company&amp;#8217;s Annual Report on Form 10-K. The accompanying condensed consolidated balance sheet as of December 31, 2010 has been derived from audited financial statements at that date.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Principles of Consolidation
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;The condensed consolidated financial statements include the accounts of Geron, our wholly-owned subsidiary, Geron Bio-Med Ltd. (Geron Bio-Med), a United Kingdom company, and our majority-owned subsidiary, TA Therapeutics, Ltd. (TAT), a Hong Kong company. We have eliminated intercompany accounts and transactions. We prepare the financial statements of Geron Bio-Med using the local currency as the functional currency. We translate the assets and liabilities of Geron Bio-Med at rates of exchange at the balance sheet date and translate income and expense items at average monthly rates of exchange. The resultant translation adjustments are included in accumulated other comprehensive income (loss), a separate component of stockholders&amp;#8217; equity. The functional currency for TAT is U.S. dollars. In July 2010, the board of directors and shareholders of TAT approved actions to commence a voluntary winding up of the company. The full wind up of TAT was completed in March 2011.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;We evaluate whether significant transactions require consideration of the variable interest consolidation model. For those entities in which we have a variable interest, we consider whether we are the primary beneficiary. Variable interest entities (VIEs) for which we are the primary beneficiary are required to be consolidated. We currently are not the primary beneficiary of any VIE. See Note 3 on Equity Method Investment.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Net Loss Per Share
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;Basic earnings (loss) per share is calculated based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share is calculated based on the weighted average number of shares of common stock and dilutive securities outstanding during the period. Potential dilutive securities primarily consist of outstanding employee stock options, restricted stock and warrants to purchase common stock and are determined using the treasury stock method at an average market price during the period.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;Because we are in a net loss position, diluted earnings (loss) per share excludes the effects of potential dilutive securities. Had we been in a net income position, diluted earnings per share would have included the shares used in the computation of basic net loss per share as well as an additional 995,044 and 1,182,957 shares for 2011 and 2010, respectively, related to outstanding options, restricted stock and warrants (as determined using the treasury stock method at the estimated average market value).
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Use of Estimates
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. On a regular basis, management evaluates these estimates and assumptions. Actual results could differ from those estimates.&lt;br /&gt;
&lt;br /&gt;
&lt;br /&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Fair Value of Financial Instruments
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-style:italic;display:inline;" &gt;&lt;font style="font-family:times new roman;" &gt;Cash Equivalents and Marketable Securities
&lt;/font&gt;
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div
 style="text-align:left;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;font style="font-family:times new roman;" &gt;We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents. We are subject to credit risk related to our cash equivalents and marketable securities. We currently place our cash and cash equivalents in money market funds and municipal securities. Our investments include U.S. government-sponsored enterprise securities, certificates of deposit, commercial paper and corporate notes with original maturities ranging from six to 24 months.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;We classify our marketable securities as available-for-sale. We record available-for-sale securities at fair value with unrealized gains and losses reported in accumulated other comprehensive income (loss) in stockholders&amp;#8217; equity. Realized gains and losses are included in interest and other income and are derived using the specific identification method for determining the cost of securities sold and have been insignificant to date. Dividend and interest income are recognized when earned and included in interest and other income in our condensed consolidated statements of operations. We recognize a charge when the declines in the fair values below the amortized cost basis of our available-for-sale securities are judged to be other-than-temporary. We consider various factors in determining whether to recognize an other-than-temporary charge, including whether we intend to sell the security or whether it is more likely than not that we would be required to sell the security. Declines in market value associated with credit losses judged as other-than-temporary result in a charge to interest and other income. Other-than-temporary charges not related to credit losses are included in accumulated other comprehensive income (loss) in stockholders&amp;#8217; equity. No other-than-temporary impairment charges were recorded for our available-for-sale securities for the three and six months ended June 30, 2011 and 2010. See Note 2 on Fair Value Measurements.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-style:italic;display:inline;" &gt;&lt;font style="font-family:times new roman;" &gt;Marketable and Non-Marketable Investments in Licensees
&lt;/font&gt;
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;Investments in non-marketable nonpublic companies, in which we own less than 20% of the outstanding voting stock and do not otherwise have the ability to exert significant influence over the investees, are carried at cost, as adjusted for other-than-temporary impairments. Investments in marketable equity securities are carried at fair value as of the balance sheet date with unrealized gains and losses reported in accumulated other comprehensive income (loss) in stockholders&amp;#8217; equity. Realized gains or losses are included in interest and other income and are derived using the specific identification method.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;We apply the equity method of accounting for investments in licensees in which we own more than 20% of the outstanding voting stock or otherwise have the ability to exert significant influence over the investees, but are not the primary beneficiary. Under this method, we increase (decrease) the carrying value of our investment by a proportionate share of the investee&amp;#8217;s earnings (losses). If losses exceed the carrying value of the investment, losses are then applied against any advances to the investee, including any commitment to provide financial support, until those amounts are reduced to zero. Commitments include formal guarantees, implicit arrangements, reputational expectations, intercompany relationships or a consistent past history of providing financial support. The equity method is then suspended until the investee has earnings. Any proportionate share of investee earnings is first applied to the share of accumulated losses not recognized during the period the equity method was suspended. We recognize previously suspended losses to the extent additional investment is determined to represent the funding of prior losses.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;We monitor our investments in licensees for impairment on a quarterly basis and make appropriate reductions in carrying values when such impairments are determined to be other-than-temporary. Other-than-temporary charges are included in interest and other income. Factors used in determining whether an other-than-temporary charge should be recognized include, but are not limited to: the current business environment including competition and uncertainty of financial condition; going concern considerations such as the rate at which the investee company utilizes cash, and the investee company&amp;#8217;s ability to obtain additional private financing to fulfill its stated business plan; the need for changes to the investee company&amp;#8217;s existing business model due to changing business environments and its ability to successfully implement necessary changes; and the general progress toward product development, including clinical trial results. See Note 2 on Fair Value Measurements.&lt;br /&gt;
&lt;br /&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-style:italic;display:inline;" &gt;&lt;font style="font-family:times new roman;" &gt;Fair Value of Derivatives
&lt;/font&gt;
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;font style="font-family:times new roman;" &gt;For warrants and non-employee options classified as assets or liabilities, the fair value of these instruments is recorded on the condensed consolidated balance sheet at inception of such classification and adjusted to fair value at each financial reporting date. The change in fair value of the warrants and non-employee options is recorded in the condensed consolidated statements of operations as unrealized gain (loss) on derivatives. Fair value of warrants and non-employee options is estimated using the Black Scholes option-pricing model. The warrants and non-employee options continue to be reported as an asset or liability until such time as the instruments are exercised or expire or are
 otherwise modified to remove the provisions which require this treatment, at which time these instruments are marked to fair value and reclassified from assets or liabilities to stockholders&amp;#8217; equity. For warrants and non-employee options classified as permanent equity, the fair value of the warrants and non-employee options is recorded in stockholders&amp;#8217; equity as of their respective vesting dates and no further adjustments are made. See Note 2 on Fair Value Measurements.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Revenue Recognition
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;We have several license agreements with various oncology, diagnostics, research tools, agriculture and biologics production companies. With certain of these agreements, we receive nonrefundable license payments in cash or equity securities, option payments in cash or equity securities, royalties on future sales of products, milestone payments, or any combination of these items. Upfront nonrefundable signing, license or non-exclusive option fees are recognized as revenue when rights to use the intellectual property related to the license have been delivered and over the term of the agreement if we have continuing performance obligations. Milestone payments, which are subject to substantive contingencies, are recognized upon completion of specified milestones, representing the culmination of the earnings process, according to contract terms. Royalties are generally recognized upon receipt of the related royalty payment. Deferred revenue represents the portion of research and license payments received which has not been earned. When payments are received in equity securities, we do not recognize any revenue unless such securities are determined to be realizable in cash.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;We recognize revenue under collaborative agreements as the related research and development costs for services are rendered. We recognize related party revenue under collaborative agreements as the related research and development costs for services are rendered and when the source of funds have not been derived from our contributions to the related party.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Restricted Cash
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;The components of restricted cash are as follows:
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;
&lt;/div&gt;&lt;div&gt;&lt;table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" &gt;&lt;tr valign="bottom" &gt;&lt;td width="88%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;June 30,
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="4%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;December 31,
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="88%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;2011
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="4%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;2010
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="88%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="12%" colspan="5" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;(In thousands)
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="88%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Certificate of deposit for unused equipment line of credit
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;530
&lt;/font&gt;
&lt;/td&gt;&lt;td width="4%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;530
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="88%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;Certificate of deposit for credit card purchases
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;263
&lt;/font&gt;
&lt;/td&gt;&lt;td width="4%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;262
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="88%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;793
&lt;/font&gt;
&lt;/td&gt;&lt;td width="4%" nowrap="nowrap"
 style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;792
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr&gt;&lt;td width="88%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;br /&gt;
&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Research and Development Expenses
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;All research and development costs are expensed as incurred. The value of acquired in-process research and development is charged to research and development expense on the date of acquisition, if not acquired in connection with a business combination. Research and development expenses include, but are not limited to, acquired in-process research and development deemed to have no alternative future use, payroll and personnel expense, lab supplies, preclinical studies, clinical trials, raw materials to manufacture clinical trial drugs, manufacturing costs for research and clinical trial materials, sponsored research at other labs, consulting, costs to maintain technology licenses and research-related overhead.&lt;br /&gt;
&lt;br /&gt;
&lt;br /&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Depreciation and Amortization
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;We record property and equipment at cost and calculate depreciation using the straight-line method over the estimated useful lives of the assets, generally four years. Leasehold improvements are amortized over the shorter of the estimated useful life or remaining term of the lease.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Stock-Based Compensation
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;We recognize compensation expense on a straight-line basis over the requisite service period, which is generally the vesting period. The following table summarizes the stock-based compensation expense related to stock options, restricted stock awards and employee stock purchases for the three and six months ended June 30, 2011 and 2010, which was allocated as follows:
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div&gt;&lt;table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" &gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="9%" colspan="5" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Three Months Ended
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="9%" colspan="5" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Six Months Ended
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="9%" colspan="5" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;June 30,
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="9%" colspan="5" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;June 30,
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;2011
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;2010
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;2011
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;2010
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="19%" colspan="11" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;(In thousands)
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Research and development
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap"
 style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;1,604
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;1,096
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;3,264
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;2,743
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;General and administrative
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;2,243
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;1,955
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;6,902
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;3,377
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Stock-based compensation expense included in
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;operating expenses
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;3,847
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;3,051
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;10,166
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;6,120
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr&gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;&lt;br /&gt;
&lt;br /&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;"
 &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;In February 2011, we and Thomas B. Okarma, Ph.D., M.D. entered into a separation agreement that provided for, among other things, the modification of the vesting and exercise periods of certain outstanding restricted stock awards and stock options held by Dr. Okarma. Non-cash stock-based compensation expense of approximately $3,472,000 has been included in general and administrative expense for the modifications.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;As stock-based compensation expense recognized in the condensed consolidated statements of operations for the three and six months ended June 30, 2011 and 2010 is based on awards ultimately expected to vest, it has been reduced for estimated forfeitures but, at a minimum, reflects the grant-date fair value of those awards that actually vested in the period. Forfeitures have been estimated at the time of grant based on historical experience and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-style:italic;display:inline;" &gt;&lt;font style="font-family:times new roman;" &gt;Stock Options
&lt;/font&gt;
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;The fair value of options granted during the six months ended June 30, 2011 and 2010 has been estimated at the date of grant using the Black Scholes option-pricing model with the following assumptions:
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div&gt;&lt;table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" &gt;&lt;tr valign="bottom" &gt;&lt;td width="91%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="7%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Six Months Ended June 30,
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="91%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;2011
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;2010
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="91%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Dividend yield
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;None
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;None
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="91%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;Expected volatility range
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="font-family:times new roman;" &gt;0.629 to 0.630
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="font-family:times new roman;" &gt;0.627 to 0.629
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="91%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Risk-free interest rate range
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;1.55% to 2.37%
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;2.13% to 2.65%
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="91%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;Expected term
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="font-family:times new roman;" &gt;5 yrs
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="font-family:times new roman;" &gt;5 yrs
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;&lt;div style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-style:italic;display:inline;" &gt;&lt;font style="font-family:times new roman;" &gt;Employee Stock Purchase Plan
&lt;/font&gt;
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;The fair value of
 employees&amp;#8217; purchase rights during the six months ended June 30, 2011 and 2010 has been estimated using the Black Scholes option-pricing model with the following assumptions:
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div&gt;&lt;table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" &gt;&lt;tr valign="bottom" &gt;&lt;td width="91%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="7%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Six Months Ended June 30,
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="91%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;2011
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;2010
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="91%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Dividend yield
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;None
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;None
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="91%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;Expected volatility range
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="font-family:times new roman;" &gt;0.529 to 0.584
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="font-family:times new roman;" &gt;0.592 to 0.995
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="91%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Risk-free interest rate range
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;0.19% to 0.32%
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;0.18% to 0.54%
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="91%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;Expected term range
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="font-family:times new roman;" &gt;6 - 12 mos
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="font-family:times new roman;" &gt;6 - 12 mos
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;br /&gt;
&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;Dividend yield is based on historical cash dividend payments and Geron has paid no dividends to date. The expected volatility range is based on historical volatilities of our stock since traded options on Geron stock do not correspond to option terms and the trading volume of options is limited. The risk-free interest rate range is based on the U.S. Zero Coupon Treasury Strip Yields for the expected term in effect on the date of grant for an award. The expected term of options is derived from actual historical exercise data and represents the period of time that options granted are expected to be outstanding. The expected term of employees&amp;#8217; purchase rights is equal to the purchase period. We grant service-based options under our equity plans to employees, non-employee directors and consultants, for which the vesting period is generally four years.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-style:italic;display:inline;" &gt;&lt;font style="font-family:times new roman;" &gt;Restricted Stock Awards
&lt;/font&gt;
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;We grant restricted stock awards to employees and non-employee directors with three types of vesting schedules: (i) service-based, (ii) performance-based or (iii) market-based. Service-based awards generally vest annually over four years. Performance-based awards vest only upon achievement of discrete strategic corporate goals within a specified performance period, generally three years. Market-based awards vest only upon achievement of certain market price thresholds of our common stock within a specified performance period, generally three years.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;The fair value for service-based restricted stock awards is determined using the fair value of our common stock on the date of grant. The fair value is amortized as compensation expense over the requisite service period of the award on a straight-line basis and is reduced for estimated forfeitures, as applicable.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;The fair value for performance-based restricted stock awards is determined using the fair value of our common stock on the date of grant. Compensation expense
 for awards with performance conditions is recognized over the period from the date the performance condition is determined to be probable of occurring through the date the applicable condition is expected to be met and is reduced for estimated forfeitures, as applicable. If the performance condition is not considered probable of being achieved, no expense is recognized until such time as the performance condition is considered probable of being met, if ever. If performance-based restricted stock awards are modified such that no continuing service is required for the award to vest and achievement of the performance condition is not considered probable on the date of modification, then no compensation cost is recognized until it becomes probable that the performance condition will be met. If that assessment of the probability of the performance condition being met changes, the impact of the change in estimate would be recognized in the period of the change. If the requisite service has been provided prior to the change in estimate, the effect of the change in estimate would be immediately recognized. We have not recognized any stock-based compensation expense for performance-based restricted stock awards in our condensed consolidated statement of operations for the three and six months ended June 30, 2011 and 2010 as the achievement of the specified performance criteria was not considered probable during that time.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;The fair value for market-based restricted stock awards is determined using a lattice valuation model with a Monte Carlo simulation. The model takes into consideration the historical volatility of our stock and the risk-free interest rate at the date of grant. In addition, the model is used to estimate the derived service period for the awards. The derived service period is the estimated period of time that would be required to satisfy the market condition, assuming the market condition will be satisfied. Compensation expense is recognized over the derived service period for the awards using the straight-line method and is reduced for estimated forfeitures, as applicable, but is accelerated if the market condition is achieved earlier than estimated. The market conditions for the market-based restricted stock awards were not achieved as of June 30, 2011.&lt;br /&gt;
&lt;br /&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-style:italic;display:inline;" &gt;&lt;font style="font-family:times new roman;" &gt;Non-Employee Stock-Based Awards
&lt;/font&gt;
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;For our non-employee stock-based awards, the measurement date on which the fair value of the stock-based award is calculated is equal to the earlier of (i) the date at which a commitment for performance by the counterparty to earn the equity instrument is reached or (ii) the date at which the counterparty&amp;#8217;s performance is complete. We recognize stock-based compensation expense for the fair value of the vested portion of non-employee awards in our condensed consolidated statements of operations.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Comprehensive Loss
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;Comprehensive loss is comprised of net loss and other comprehensive income (loss). Other comprehensive income (loss) includes certain changes in stockholders&amp;#8217; equity which are excluded from net loss. The activity in comprehensive loss during the three and six months ended June 30, 2011 and 2010 was as follows:
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div&gt;&lt;table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" &gt;&lt;tr valign="bottom" &gt;&lt;td width="76%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="11%" colspan="7" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Three Months Ended
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="11%" colspan="7" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Six Months Ended
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="76%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="11%" colspan="7" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;June 30,
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="11%" colspan="7" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;June 30,
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="76%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;2011
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;2010
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;2011
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font
 style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;2010
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="76%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="23%" colspan="15" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;(In thousands)
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="76%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Net loss
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;(21,088
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;(17,031
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;(45,477
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;(33,671
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="76%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;Change in net unrealized gain on available-for-sale
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="76%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;securities and marketable investments in licensees
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;97
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;5
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;42
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;138
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="76%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Change in foreign currency translation adjustments
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%"
 nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;12
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;(3
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="76%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;Comprehensive loss
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(20,991
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(17,026
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(45,423
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(33,536
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr&gt;&lt;td width="76%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;&lt;br /&gt;
&lt;br /&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;The components of accumulated other comprehensive loss were as follows:
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;
&lt;/div&gt;&lt;div&gt;&lt;table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" &gt;&lt;tr valign="bottom" &gt;&lt;td width="88%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;June 30, 2011
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;December 31, 2010
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="88%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="11%" colspan="7" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;(In thousands)
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="88%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Unrealized gain on available-for-sale securities and
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%"
 nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="88%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;marketable investments in licensees, net
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;114
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;72
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="88%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;Foreign currency translation adjustments
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(156
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(168
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" style="background-color:#c0c0c0;" &gt;&lt;td width="88%" nowrap="nowrap" style="border-bottom:#c0c0c0 2pt solid;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;Accumulated other comprehensive loss
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:silver 2pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(42
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#c0c0c0 2pt solid;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:silver 2pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(96
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#c0c0c0 2pt solid;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr style="background-color:#ffffff;" &gt;&lt;td width="88%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;&lt;br /&gt;
&lt;br /&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Recently Issued Accounting Standards
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;In May 2011, the Financial Accounting Standards Board (FASB) issued a new accounting standard on fair value measurements that clarifies the application of existing guidance and disclosure requirements, changes certain fair value measurement principles and requires additional disclosures about fair value measurements that are estimated using significant unobservable (Level 3) inputs. This new guidance is to be applied prospectively. We are required to adopt this standard in January 2012. We do not expect that this adoption will have a material impact on our financial statements.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;In June 2011, the FASB issued a new accounting standard on the presentation of comprehensive income. The new standard requires the presentation of comprehensive income, the components of net income and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. The new standard also requires presentation of adjustments for items that are reclassified from other comprehensive income to net income in the statement where the components of net income and the components of other comprehensive income are presented. We are required to adopt this standard in January 2012 and apply it retrospectively. The adoption of this standard is only expected to impact the presentation of our financial statements and not the results of operations or financial position of the Company.
&lt;/font&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock>
<us-gaap:FairValueDisclosuresTextBlock contextRef="Context_6ME_30-Jun-2011">&lt;div&gt;&lt;div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;2. FAIR VALUE MEASUREMENTS
&lt;/font&gt;
&lt;/font&gt;&lt;font style="font-family:times new roman;" &gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;We categorize assets and liabilities recorded at fair value on our condensed consolidated balance sheet based upon the level of judgment associated with inputs used to measure their fair value. The categories are as follows:
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="padding-left:15pt;width:100%;" &gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;Level 1 &amp;#8211; Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. An active market for the asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;Level 2 &amp;#8211; Inputs (other than quoted market prices included in Level 1) are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the instrument&amp;#8217;s anticipated life.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;Level 3 &amp;#8211; Inputs reflect management&amp;#8217;s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model.&lt;br /&gt;
&lt;br /&gt;
&lt;/font&gt;
&lt;/div&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;/div&gt;&lt;div&gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;A financial instrument&amp;#8217;s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Following is a description of the valuation methodologies used for instruments measured at fair value on our condensed consolidated balance sheet, including the category for such instruments.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Cash Equivalents and Marketable Securities Available-for-Sale
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;Where quoted prices are available in an active market, securities are categorized as Level 1. Examples of such Level 1 securities include certificates of deposit and money market funds. If quoted market prices are not available for the specific security, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics or discounted cash flows. Examples of such Level 2 instruments include U.S. Treasury securities, U.S. government-sponsored enterprise securities, municipal securities, corporate notes, asset-backed securities and commercial paper.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;Marketable securities by security type at June 30, 2011 were as follows:
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div&gt;&lt;table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" &gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Gross
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Gross
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr&gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Unrealized
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Unrealized
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Estimated
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Cost
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Gains
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;"
 &gt;&lt;font style="font-family:times new roman;" &gt;Losses
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Fair Value
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="20%" colspan="12" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;(In thousands)
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Included in cash and cash equivalents:
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Money market funds
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;9,403
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;9,403
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Municipal securities (due in less than 1 year)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;20,270
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;20,270
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:white 2pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;29,673
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times
 new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:white 2pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;29,673
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Restricted cash:
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Certificates of deposit
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:white 2pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;793
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:white 2pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;793
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Marketable securities:
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Certificate of deposit (due in less than 1 year)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;338
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap"
 style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;338
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Government-sponsored enterprise securities (due in
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;less than 1 year)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;8,180
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;3
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;(2
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;8,181
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Government-sponsored enterprise securities (due in
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;1 to 2 years)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;16,540
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;47
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(1
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;16,586
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Commercial paper (due in less than 1 year)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;10,846
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;4
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td
 width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;10,850
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Corporate notes (due in less than 1 year)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;100,353
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;65
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(31
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;100,387
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Corporate notes (due in 1 to 2 years)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;22,978
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;32
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;(4
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;23,006
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Investments in licensees
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;1
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;1
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;2
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="border-bottom:#c0c0c0 2pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:silver 2pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;159,236
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:silver 2pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;152
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:silver 2pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" &gt;&lt;font
 style="font-family:times new roman;" &gt;(38
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#c0c0c0 2pt solid;text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:silver 2pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;159,350
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr&gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;&lt;br /&gt;
&lt;br /&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;&lt;div&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;Marketable securities by security type at December 31, 2010 were as follows:
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div&gt;&lt;table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" &gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Gross
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Gross
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Unrealized
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Unrealized
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Estimated
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Cost
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Gains
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Losses
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Fair Value
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="20%" colspan="12" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;(In thousands)
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Included in cash and cash equivalents:
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;"
 &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Money market funds
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;21,076
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;21,076
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Municipal securities (due in less than 1 year)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;18,450
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;18,450
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Commercial paper (due in less than 1 year)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;3,499
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;3,499
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Corporate notes (due in less than 1 year)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;1,856
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;(1
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap"
 style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;1,855
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:white 2pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;44,881
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(1
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:white 2pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;44,880
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Restricted cash:
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Certificates of deposit
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:white 2pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;792
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:white 2pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;792
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Marketable securities:
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap"
 style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Certificate of deposit (due in less than 1 year)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;325
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;325
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Government-sponsored enterprise securities (due in
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;less than 1 year)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;11,288
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;(1
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;11,287
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Government-sponsored enterprise securities (due in
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;1 to 2 years)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;27,270
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;9
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;"
 &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(11
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;27,268
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Commercial paper (due in less than 1 year)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;12,087
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;7
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;12,094
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Corporate notes (due in less than 1 year)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;116,822
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;127
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(56
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;116,893
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Corporate notes (due in 1 to 2 years)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;6,645
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;1
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;(3
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;6,643
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Investments in licensees
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;1
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" &gt;&lt;font style="font-family:times new roman;"
 &gt;1
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="79%" nowrap="nowrap" style="border-bottom:#c0c0c0 2pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:silver 2pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;174,438
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:silver 2pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;144
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:silver 2pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;(71
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#c0c0c0 2pt solid;text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:silver 2pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;174,511
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr&gt;&lt;td width="79%" nowrap="nowrap" style="text-align:left;background-color:#ffffff;" &gt;&amp;#160;&lt;br /&gt;
&lt;br /&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#ffffff;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#ffffff;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#ffffff;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#ffffff;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#ffffff;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#ffffff;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#ffffff;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#ffffff;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#ffffff;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#ffffff;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#ffffff;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:right;background-color:#ffffff;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#ffffff;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;Marketable securities with unrealized losses at June 30, 2011 and December 31, 2010 were as follows:
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div&gt;&lt;table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" &gt;&lt;tr valign="bottom" &gt;&lt;td width="67%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="10%" colspan="6" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Less Than 12 Months
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="10%" colspan="6" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;12 Months or Greater
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="10%" colspan="6" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Total
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="67%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Gross
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Gross
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Gross
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="67%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new
 roman;" &gt;Estimated
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Unrealized
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Estimated
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Unrealized
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Estimated
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Unrealized
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="67%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Fair Value
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Losses
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Fair Value
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Losses
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Fair Value
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Losses
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="67%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="32%" colspan="20" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;(In thousands)
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="67%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;As of June 30, 2011:
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="67%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;Government-sponsored enterprise
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td
 width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="67%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;securities (due in less than 1 year)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;2,030
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(2
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;2,030
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(2
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="67%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Government-sponsored enterprise
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="67%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;securities (due in 1 to 2 years)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;4,000
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;(1
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;"
 &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;4,000
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;(1
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="67%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;Corporate notes (due in less than 1 year)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;43,627
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(31
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;43,627
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(31
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="67%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Corporate notes (due in 1 to 2 years)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;3,821
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;(4
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;3,821
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;(4
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="67%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:black 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;53,478
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%"
 nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(38
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;53,478
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(38
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr&gt;&lt;td width="67%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="67%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;As of December 31, 2010:
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="67%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;Government-sponsored enterprise
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap"
 style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="67%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;securities (due in less than 1 year)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;7,287
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(1
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;7,287
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(1
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="67%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Government-sponsored enterprise
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="67%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;securities (due in 1 to 2 years)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;15,287
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;(11
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td
 width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;15,287
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;(11
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="67%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;Corporate notes (due in less than 1 year)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;61,354
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(56
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;3,019
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(1
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;64,373
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(57
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="67%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Corporate notes (due in 1 to 2 years)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;4,313
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;(3
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;4,313
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;(3
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="67%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;88,241
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap"
 style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(71
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;3,019
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(1
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;91,260
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(72
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr&gt;&lt;td width="67%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;&lt;br /&gt;
&lt;br /&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;The gross unrealized losses related to government-sponsored enterprise securities and corporate notes as of June 30, 2011 and December 31, 2010 were due to changes in interest rates. We determined that the gross unrealized losses on our marketable securities as of June 30, 2011 and December 31, 2010 were temporary in nature. We review our investments quarterly to identify and evaluate whether any investments have indications of possible impairment. Factors considered in determining whether a loss is temporary include the length of time and extent to which the fair value has been less than the cost basis, the financial condition and near-term prospects of the investee, and whether we intend to sell the security or whether it is more likely than not that we would be required to sell the security. We currently do not intend to sell these securities before recovery of their amortized cost basis.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Marketable and Non-Marketable Investments in Licensees
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;Where quoted prices are available in an active market, securities are categorized as Level 1. Level 1 securities include publicly traded equities. Significant investments in licensees accounted for using the equity method of accounting or equity securities in non-marketable companies are not measured at fair value and are not assigned a category level.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;As of June 30, 2011 and December 31, 2010, the carrying values of our investments in non-marketable nonpublic companies were zero and $503,000, respectively. We recognized no charges related to other-than-temporary declines in fair values of investments in licensees for the three and six months ended June 30, 2011 and 2010. See Note 3 on Equity Method Investment for further discussion of investments in licensees.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Derivatives
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;Warrants to purchase common stock and non-employee options are normally traded less actively, have trade activity that is one way, and/or traded in less-developed markets and are therefore valued based upon models with significant unobservable market parameters, resulting in Level 3
 categorization.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;The fair value of derivatives has been calculated at each reporting date using the Black Scholes option-pricing model with the following assumptions:
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div&gt;&lt;table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" &gt;&lt;tr valign="bottom" &gt;&lt;td width="94%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;June 30, 2011
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;December 31, 2010
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="94%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Dividend yield
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;None
&lt;/font&gt;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;None
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="94%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;Expected volatility
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="font-family:times new roman;" &gt;0.675
&lt;/font&gt;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="font-family:times new roman;" &gt;0.668
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="94%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Risk-free interest rate
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;0.81%
&lt;/font&gt;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;2.01%
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="94%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;Expected term
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="font-family:times new roman;" &gt;4 yrs
&lt;/font&gt;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="font-family:times new roman;" &gt;4 yrs
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;br /&gt;
&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;Dividend yield is based on historical cash dividend payments and Geron has paid no dividends to date. The expected volatility is based on historical volatilities of our stock since traded options on Geron stock do not correspond to derivatives&amp;#8217; terms and trading volume of Geron options is limited. The risk-free interest rate is based on the U.S. Zero Coupon Treasury Strip Yields for the expected term in effect on the reporting date. The expected term of derivatives is equal to the remaining contractual term of the instrument.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;As of June 30, 2011 and December 31, 2010, the following non-employee options to purchase common stock were considered derivatives and classified as current liabilities:
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div&gt;&lt;table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" &gt;&lt;tr valign="bottom" &gt;&lt;td width="72%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="6%" colspan="4" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;At June 30, 2011
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="6%" colspan="4" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;At December 31, 2010
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="72%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap"
 style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Number
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Fair
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Number
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Fair
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="72%" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Issuance
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Exercise
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Exercisable
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Expiration
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;of
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Value
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;of
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Value
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="72%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Date
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="3%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Price
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Date
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Date
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Shares
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="3%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;(In thousands)
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Shares
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="3%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;(In thousands)
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="72%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;March 2005
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;6.39
&lt;/font&gt;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;January 2007
&lt;/font&gt;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;March 2015
&lt;/font&gt;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;284,600
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new
 roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;428
&lt;/font&gt;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;284,600
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;707
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;br /&gt;
&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;Non-employee options for which performance obligations are complete are classified as derivative liabilities on our condensed consolidated balance sheet. Upon the exercise of these options, the instruments are marked to fair value and reclassified from derivative liabilities to stockholders&amp;#8217; equity. No reclassifications from current liabilities to stockholders&amp;#8217; equity were made for derivatives during the six months ended June 30, 2011.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;font style="font-family:times new roman;" &gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;br /&gt;
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Fair Value on a Recurring Basis
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;The following table presents information about our financial assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2011, and indicates the fair value category assigned.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div&gt;&lt;table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" &gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="19%" colspan="11" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Fair Value Measurements at Reporting Date Using
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Significant
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Quoted Prices in
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Other
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Significant
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Active Markets for
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Observable
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Unobservable
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Identical Assets
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Inputs
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap"
 style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Inputs
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;(In thousands)
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Level 1
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Level 2
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Level 3
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Total
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Assets
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;Money market funds &lt;font style="font-size:70%;vertical-align:text-top;" &gt;(1)
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;9,403
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;9,403
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Certificate of deposit &lt;font style="font-size:70%;vertical-align:text-top;" &gt;(2)
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;338
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;338
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;Municipal securities &lt;font style="font-size:70%;vertical-align:text-top;" &gt;(1)
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap"
 style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;20,270
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;20,270
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Government-sponsored enterprise securities &lt;font style="font-size:70%;vertical-align:text-top;" &gt;(2) (3)
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;24,767
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;24,767
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;Commercial paper &lt;font style="font-size:70%;vertical-align:text-top;" &gt;(2)
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;10,850
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;10,850
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Corporate notes &lt;font style="font-size:70%;vertical-align:text-top;" &gt;(2) (3)
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;123,393
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;123,393
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;Investments in licensees &lt;font style="font-size:70%;vertical-align:text-top;" &gt;(4)
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;2
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap"
 style="border-bottom:#000000 1pt solid;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;2
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Total
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;9,743
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;179,280
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;189,023
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr&gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="19%" colspan="11" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Fair Value Measurements at Reporting Date Using
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Significant
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Quoted Prices in
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Other
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Significant
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Active Markets for
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Observable
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Unobservable
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;"
 &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Identical Assets
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Inputs
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Inputs
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;(In thousands)
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Level 1
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Level 2
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Level 3
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Total
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr&gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Liabilities
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr&gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;Derivatives &lt;font style="font-size:70%;vertical-align:text-top;" &gt;(5)
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;428
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;428
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr&gt;&lt;td width="80%" nowrap="nowrap" style="text-align:left;" &gt;____________________
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;&amp;#160;&lt;br /&gt;
&lt;br /&gt;
&lt;br /&gt;
&lt;div&gt;&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;" &gt;&lt;tr&gt;&lt;td valign="top" nowrap="nowrap" &gt;&lt;font style="font-family:times new roman;" &gt;(1)
&lt;/font&gt;
&lt;/td&gt;&lt;td valign="top" nowrap="nowrap" &gt;&lt;font
 style="font-family:times new roman;" &gt;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="100%" &gt;&lt;font style="font-family:times new roman;" &gt;Included in cash and cash equivalents on our condensed consolidated balance sheet.
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr&gt;&lt;td valign="top" nowrap="nowrap" &gt;&amp;#160;
&lt;/td&gt;&lt;td valign="top" nowrap="nowrap" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="100%" &gt;&lt;br /&gt;
&lt;br /&gt;
&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr&gt;&lt;td valign="top" nowrap="nowrap" &gt;&lt;font style="font-family:times new roman;" &gt;(2)
&lt;/font&gt;
&lt;/td&gt;&lt;td valign="top" nowrap="nowrap" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="100%" &gt;&lt;font style="font-family:times new roman;" &gt;Included in current marketable securities on our condensed consolidated balance sheet.
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" &gt;&amp;#160;&lt;br /&gt;
&lt;br /&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr&gt;&lt;td valign="top" nowrap="nowrap" &gt;&lt;font style="font-family:times new roman;" &gt;(3)
&lt;/font&gt;
&lt;/td&gt;&lt;td valign="top" nowrap="nowrap" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="100%" &gt;&lt;font style="font-family:times new roman;" &gt;Included in noncurrent marketable securities on our condensed consolidated balance sheet.
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" &gt;&amp;#160;&lt;br /&gt;
&lt;br /&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr&gt;&lt;td valign="top" nowrap="nowrap" &gt;&lt;font style="font-family:times new roman;" &gt;(4)
&lt;/font&gt;
&lt;/td&gt;&lt;td valign="top" nowrap="nowrap" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="100%" &gt;&lt;font style="font-family:times new roman;" &gt;Included in investments in licensees on our condensed consolidated balance sheet.
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" &gt;&amp;#160;&lt;br /&gt;
&lt;br /&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr&gt;&lt;td valign="top" nowrap="nowrap" &gt;&lt;font style="font-family:times new roman;" &gt;(5)
&lt;/font&gt;
&lt;/td&gt;&lt;td valign="top" nowrap="nowrap" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="100%" &gt;&lt;font style="font-family:times new roman;" &gt;Included in fair value of derivatives on our condensed consolidated balance sheet.
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;&lt;div&gt;&lt;font style="font-family:times new roman;" &gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Changes in Level 3 Recurring Fair Value Measurements
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;The tables below includes a rollforward of the balance sheet amounts for the three and six months ended June 30, 2011 (including the change in fair value), for financial instruments in the Level 3 category. When a determination is made to classify a financial instrument within Level 3, the determination is based upon the significance of the unobservable parameters to the overall fair value measurement. However, Level 3 financial instruments typically include, in addition to the unobservable components, observable components (that is, components that are actively quoted and can be validated to external sources). Accordingly, the gains and losses in the table below include changes in fair value due in part to observable factors that are part of the methodology.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div&gt;&lt;table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" &gt;&lt;tr valign="bottom" &gt;&lt;td width="68%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="31%" colspan="19" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="68%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="31%" colspan="19" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Three Months Ended June 30, 2011
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="68%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Change in
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="68%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;"
 &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Unrealized Gains
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="68%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Total
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Purchases,
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Related to
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="68%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Unrealized
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Sales,
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Transfers
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Financial
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="68%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Fair Value at
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Gains
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Issuances,
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;In and/or
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Fair Value at
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Instruments
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="68%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;March 31,
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Included in
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Settlements,
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Out of
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;June 30,
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font
 style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Held at
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="68%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;(In thousands)
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;2011
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Earnings, net
&lt;/font&gt;
&lt;/font&gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-size:70%;vertical-align:text-top;" &gt;(1)
&lt;/font&gt;
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;net
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Level 3
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;2011
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;June 30, 2011 &lt;font style="font-size:70%;vertical-align:text-top;" &gt;(1)
&lt;/font&gt;
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="68%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Derivative liabilities
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;668
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;(240
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;428
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;(240
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr&gt;&lt;td width="68%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;"
 &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="68%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="31%" colspan="19" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="68%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="31%" colspan="19" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Six&amp;#160;Months Ended June 30, 2011
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="68%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Change in
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="68%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Unrealized Gains
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="68%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Total
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Purchases,
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Related to
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="68%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Unrealized
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Sales,
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Transfers
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap"
 style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Financial
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="68%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Fair Value at
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Gains
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Issuances,
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;In and/or
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Fair Value at
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Instruments
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="68%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;December&amp;#160;31,
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Included in
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Settlements,
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Out of
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;June 30,
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Held at
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="68%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;(In thousands)
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;2010
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Earnings, net
&lt;/font&gt;
&lt;/font&gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-size:70%;vertical-align:text-top;" &gt;(1)
&lt;/font&gt;
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;net
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Level 3
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;2011
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;June 30, 2011 &lt;font style="font-size:70%;vertical-align:text-top;" &gt;(1)
&lt;/font&gt;
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr&gt;&lt;td width="68%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;Derivative liabilities
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;707
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap"
 style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;(279
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;428
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;$
&lt;/font&gt;
&lt;/td&gt;&lt;td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;(279
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" &gt;&lt;font style="font-family:times new roman;" &gt;)
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;____________________&lt;br /&gt;
&amp;#160;&lt;br /&gt;
&lt;br /&gt;
&lt;br /&gt;
&lt;div&gt;&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;" &gt;&lt;tr&gt;&lt;td valign="top" nowrap="nowrap" &gt;&lt;font style="font-family:times new roman;" &gt;(1)
&lt;/font&gt;
&lt;/td&gt;&lt;td valign="top" nowrap="nowrap" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="100%" &gt;&lt;font style="font-family:times new roman;" &gt;Reported as unrealized gain on fair value of derivatives in our condensed consolidated statements of operations.
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:FairValueDisclosuresTextBlock>
<us-gaap:EquityMethodInvestmentsDisclosureTextBlock contextRef="Context_6ME_30-Jun-2011">&lt;div&gt;&lt;div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;3. EQUITY METHOD INVESTMENT
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;In April 2005, we and Exeter Life Sciences, Inc. (Exeter) established Start Licensing, Inc. (Start), a joint venture to manage and license a broad portfolio of intellectual property rights related to animal reproductive technologies. We and Exeter owned 49.9% and 50.1% of Start, respectively. In connection with the establishment of Start, we granted a worldwide, exclusive, non-transferable license to our patent rights to nuclear transfer technology for use in animal cloning, with the right to sublicense such patent rights. Since there was no net book value associated with the patent rights at the execution of the joint venture, no initial value was recognized for our investment in Start. We suspended the equity method of accounting since our proportionate share of net losses in Start exceeded our original carrying value of the investment and we had no commitments to provide financial support or obligations to perform services or other activities for Start.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;In August 2008, we and Exeter entered into Contribution Agreements whereby we and Exeter exchanged our equity interests in Start for equity interests in ViaGen, Inc. (ViaGen). As a result of the exchange, Start became a wholly-owned subsidiary of ViaGen. Ownership of ViaGen immediately following the transaction was as follows: Exeter&amp;#8211; 69%; Geron &amp;#8211; 27%; and Smithfield Foods &amp;#8211; 4%. Since no value had been recorded for our investment in Start, the same zero carrying value was applied to our investment in ViaGen. Geron&amp;#8217;s share of equity method losses from Start that were not recognized during the period the equity method was suspended was carried over to the investment in ViaGen.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;In September 2009, we purchased $3,603,000 in equity from ViaGen and simultaneously Exeter converted its outstanding debt with ViaGen into equity. The new equity purchase did not fund prior ViaGen losses and represented additional financial support to ViaGen. Ownership of ViaGen upon consummation of the transactions was as follows: Exeter &amp;#8211; 70%; Geron &amp;#8211; &lt;font style="font-family:times new roman;" &gt;28%; and Smithfield Foods &amp;#8211; 2%. With the new investment in 2009, we resumed applying the equity method of accounting by increasing (decreasing) the carrying value of our investment by our proportionate share of ViaGen&amp;#8217;s earnings (losses).&lt;br /&gt;
&lt;br /&gt;
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;
&lt;/div&gt;&lt;div&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;font style="font-family:times new roman;" &gt;In November 2010, we provided a loan of $1,500,000 to ViaGen to fund its operations. Also in November 2010, we agreed to appoint one of our ViaGen board member representatives as executive chairman of the ViaGen board and purchased $23,000 in ViaGen equity directly from another shareholder, Moral Compass Corporation (MCC, previously referred to as Exeter). As of June 30, 2011, ownership of ViaGen was as follows: MCC &amp;#8211; 58%; Geron &amp;#8211; 40%; and Smithfield Foods &amp;#8211; 2%.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;Since ViaGen does not have sufficient equity to finance its own activities without additional subordinated financial support, it meets the definition of a VIE. By providing financial support to ViaGen, we are a variable interest holder. However, as of June 30, 2011, we lacked the power to direct activities that most significantly impact ViaGen&amp;#8217;s economic performance. Although one of our ViaGen board representatives serves as executive chairman of the ViaGen board, he has no additional rights or obligations to direct ViaGen&amp;#8217;s activities. Control over ViaGen&amp;#8217;s economic performance is driven by the ViaGen management team with authorization and approval from the entire ViaGen board, which is currently comprised of two Geron representatives and two MCC representatives. As the majority holder of the equity and debt of ViaGen, MCC maintains controlling financial interest over the company, including the right to appoint a third board member, giving them majority control of the ViaGen board. Accordingly, we have not included ViaGen&amp;#8217;s financial information with our consolidated results.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;For the three and six months ended June 30, 2011, we recognized $168,000 and $503,000, respectively, for our proportionate share of ViaGen&amp;#8217;s operating losses compared to $496,000 and $892,000 for the comparable 2010 periods. Our share of losses is recorded in the condensed consolidated statements of operations under losses recognized under equity method investment.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;Our maximum exposure to loss pertaining to ViaGen represents the balance sheet carrying amount of our investment in ViaGen which reflects the initial amount of cash invested less our proportionate share of losses over time. The adjusted basis of our investment in ViaGen at June 30, 2011 and December 31, 2010 was zero and $503,000, respectively, which is reflected under investments in licensees on our condensed consolidated balance sheet. We suspended the equity method of accounting during the quarter ended June 30, 2011 since the adjusted basis of our investment was zero at June 30, 2011 and we have no commitments to provide financial support or obligations to perform services or other activities for ViaGen.
&lt;/font&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:EquityMethodInvestmentsDisclosureTextBlock>
<us-gaap:CollaborativeArrangementDisclosureTextBlock contextRef="Context_6ME_30-Jun-2011">&lt;div&gt;&lt;div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;4. COLLABORATIVE AGREEMENT
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;In June 2009, we entered into a worldwide exclusive license and alliance agreement with GE Healthcare UK, Limited (GEHC) to develop and commercialize cellular assay products derived from human embryonic stem cells (hESCs) for use in drug discovery, development and toxicity screening. Under the terms of the agreement, GEHC has been granted an exclusive license under Geron&amp;#8217;s intellectual property portfolio covering the growth and differentiation of hESCs, as well as a sublicense under Geron&amp;#8217;s rights to the hESC patents held by the Wisconsin Alumni Research Foundation. We established a multi-year alliance program with GEHC under which scientists from both companies worked to develop hESC-based products for drug discovery. The first product developed under the alliance, human cardiomyocytes derived from hESCs, was launched in October 2010 by GEHC.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;In connection with the agreement, we received upfront non-refundable license payments under the exclusive license and sublicense and can receive milestone payments upon achievement of certain commercial development and product sales events and royalties on future product sales. Under the alliance program, GEHC was responsible for all costs incurred by GEHC and all costs incurred by us for activities undertaken at Geron, including the funding of our scientists who worked on the alliance program. An Alliance Steering Committee, with representatives from each company, coordinated and managed the alliance program.
&lt;/font&gt;
&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;License payments under the GEHC agreement were recorded as deferred revenue upon receipt and were recognized ratably as revenue over the alliance program period as a result of our continuing involvement with the collaboration. Funding received for our efforts under the alliance program was recognized as revenue as costs were incurred, which reflected our level of effort over the period of the alliance program. Since the milestone payments are subject to substantive contingencies,
&lt;/font&gt;&lt;font style="font-family:times new roman;" &gt;any such payments will be recognized upon completion of the specified milestones. Royalties received under the agreement will generally be recognized as revenue upon receipt of the related royalty payment. For the three and six months ended June 30, 2011, we recognized $150,000 and $300,000, respectively, as revenue from collaborative agreements compared to $225,000 and $450,000 for the comparable 2010 periods. For the three and six months ended June 30, 2011and 2010, we recognized $175,000 and $350,000, respectively, as license fee revenue in connection with this agreement.
&lt;/font&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:CollaborativeArrangementDisclosureTextBlock>
<us-gaap:SegmentReportingDisclosureTextBlock contextRef="Context_6ME_30-Jun-2011">&lt;div&gt;&lt;div style="text-align:left;" &gt;&lt;div&gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;5. SEGMENT INFORMATION&lt;br /&gt;
&lt;br /&gt;
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;
&lt;/div&gt;&lt;div&gt;&amp;#160;
&lt;/div&gt;&lt;div&gt;&lt;div style="text-align:left;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;font style="font-family:times new roman;" &gt;Our executive management team represents our chief decision maker. To date, we have viewed our operations as one segment, the discovery and development of therapeutic and diagnostic products for oncology and human embryonic stem cell therapies. As a result, the financial information disclosed herein materially represents all of the financial information related to our principal operating segment.
&lt;/font&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:SegmentReportingDisclosureTextBlock>
<us-gaap:CashFlowSupplementalDisclosuresTextBlock contextRef="Context_6ME_30-Jun-2011">&lt;div&gt;&lt;div style="text-align:left;" &gt;&lt;div&gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;6. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS DATA&lt;br /&gt;
&lt;br /&gt;
&lt;/font&gt;
&lt;/font&gt;
&lt;/div&gt;
&lt;/div&gt;&lt;div&gt;&amp;#160;
&lt;/div&gt;&lt;div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;Supplemental schedule of non-cash operating and investing activities:&lt;br /&gt;
&lt;br /&gt;
&lt;/font&gt;
&lt;/div&gt;
&lt;/div&gt;&lt;div&gt;&amp;#160;
&lt;/div&gt;&lt;div&gt;&lt;table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" &gt;&lt;tr valign="bottom" &gt;&lt;td width="91%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="8%" colspan="6" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;Six Months Ended
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="91%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="8%" colspan="6" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;June 30,
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="91%" nowrap="nowrap" style="text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;(In Thousands)
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="3%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;2011
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:center;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/td&gt;&lt;td width="3%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" &gt;&lt;font style="display:inline;font-weight:bold;" &gt;&lt;font style="font-family:times new roman;" &gt;2010
&lt;/font&gt;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="91%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;Supplemental Operating Activities:
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="91%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Issuance of common stock for performance bonus
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;2,807
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&lt;/font&gt;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
&lt;/font&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="91%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Issuance of common stock for 401(k) matching contributions
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;1,294
&lt;/font&gt;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
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&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="91%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Issuance of common stock for acquired in-process research and development
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&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;27,500
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&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#8212;
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&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="91%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Issuance of common stock for services rendered to date
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&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%"
 nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
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&lt;/tr&gt;&lt;tr valign="bottom" &gt;&lt;td width="91%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; or to be received in future periods
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&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;251
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&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;5,433
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&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;(345
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&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;)
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&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
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&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="background-color:#c0c0c0;text-align:left;" &gt;&amp;#160;
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&lt;/td&gt;&lt;td width="2%" nowrap="nowrap" style="text-align:right;" &gt;&lt;font style="font-family:times new roman;" &gt;42
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&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
&lt;/td&gt;&lt;td width="1%" nowrap="nowrap" style="text-align:left;" &gt;&amp;#160;
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&lt;/div&gt;&lt;div&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&lt;div style="text-align:left;" &gt;&lt;font style="font-family:times new roman;" &gt;&lt;font style="font-family:times new roman;" &gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
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&lt;/font&gt;CIRM shall disburse to Geron an aggregate of $24,846,856 over a period of three years commencing on August 1, 2011 and ending on July 31, 2014. The disbursements are pursuant to an established schedule and, in certain cases, are conditioned upon the achievement of project milestones. The initial term of the Loan Agreement is five years and Geron may request extension of the Loan Agreement for one additional term of five years for a maximum total of ten years from the Effective Date. The interest rate for each quarterly disbursement of the loan is equal to the one year LIBOR rate plus 2%. Interest is compounded annually on the principal amount from the date of the applicable disbursement. Repayment of the principal and any accrued interest shall be due and payable at the end of the initial term. If the loan is extended, certain interest payments are due during the second five years. Repayment of the loan is suspended if the supported project is abandoned for any reason. Any loan amount that has not been due and payable for 15 years after the granting of a suspension of repayment will be automatically forgiven by CIRM.
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</XBRL>
</TEXT>
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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>8
<FILENAME>gern-20110630_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
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<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2008-03-31.xsd#negated" roleURI="http://xbrl.us/us-gaap/role/label/negated"/>
<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" roleURI="http://www.xbrl.org/2009/role/negatedLabel"/> <roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel"/> <roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel"/> <roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel"/> <roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" roleURI="http://www.xbrl.org/2009/role/negatedNetLabel"/> <roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel"/> <roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" roleURI="http://www.xbrl.org/2009/role/netLabel"/>
<labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
<loc xlink:type="locator" xlink:href="gern-20110630.xsd#gern_DocumentAndEntityInformationAbstract" xlink:label="loc_gern_DocumentAndEntityInformationAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_gern_DocumentAndEntityInformationAbstract" xml:lang="en-US">Document and Entity Information [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_gern_DocumentAndEntityInformationAbstract" xml:lang="en-US">Document and Entity Information [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_gern_DocumentAndEntityInformationAbstract" xml:lang="en-US">Document And Entity Information</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_gern_DocumentAndEntityInformationAbstract" xlink:to="lab_gern_DocumentAndEntityInformationAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_StatementTable" xml:lang="en-US">Statement [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_StatementTable" xml:lang="en-US">Statement [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementTable" xlink:to="lab_us-gaap_StatementTable"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_StatementLineItems" xml:lang="en-US">Statement [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_StatementLineItems" xml:lang="en-US">Statement [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementLineItems" xlink:to="lab_us-gaap_StatementLineItems"/>
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityRegistrantName" xlink:label="loc_dei_EntityRegistrantName"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityRegistrantName" xml:lang="en-US">Entity Registrant Name</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_dei_EntityRegistrantName" xml:lang="en-US">Entity Registrant Name</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityRegistrantName" xlink:to="lab_dei_EntityRegistrantName"/>
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="loc_dei_EntityCentralIndexKey"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityCentralIndexKey" xml:lang="en-US">Entity Central Index Key</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_dei_EntityCentralIndexKey" xml:lang="en-US">Entity Central Index Key</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCentralIndexKey" xlink:to="lab_dei_EntityCentralIndexKey"/>
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="loc_dei_CurrentFiscalYearEndDate"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_CurrentFiscalYearEndDate" xml:lang="en-US">Current Fiscal Year End Date</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_dei_CurrentFiscalYearEndDate" xml:lang="en-US">Current Fiscal Year End Date</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CurrentFiscalYearEndDate" xlink:to="lab_dei_CurrentFiscalYearEndDate"/>
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityFilerCategory" xlink:label="loc_dei_EntityFilerCategory"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityFilerCategory" xml:lang="en-US">Entity Filer Category</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_dei_EntityFilerCategory" xml:lang="en-US">Entity Filer Category</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityFilerCategory" xlink:to="lab_dei_EntityFilerCategory"/>
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_TradingSymbol" xlink:label="loc_dei_TradingSymbol"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_TradingSymbol" xml:lang="en-US">Trading Symbol</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_dei_TradingSymbol" xml:lang="en-US">Trading Symbol</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_TradingSymbol" xlink:to="lab_dei_TradingSymbol"/>
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="loc_dei_EntityCommonStockSharesOutstanding"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityCommonStockSharesOutstanding" xml:lang="en-US">Entity Common Stock, Shares Outstanding</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_dei_EntityCommonStockSharesOutstanding" xml:lang="en-US">Entity Common Stock, Shares Outstanding</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCommonStockSharesOutstanding" xlink:to="lab_dei_EntityCommonStockSharesOutstanding"/>
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_DocumentType" xlink:label="loc_dei_DocumentType"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_DocumentType" xml:lang="en-US">Document Type</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_dei_DocumentType" xml:lang="en-US">Document Type</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentType" xlink:to="lab_dei_DocumentType"/>
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_AmendmentFlag" xlink:label="loc_dei_AmendmentFlag"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_AmendmentFlag" xml:lang="en-US">Amendment Flag</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_dei_AmendmentFlag" xml:lang="en-US">Amendment Flag</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AmendmentFlag" xlink:to="lab_dei_AmendmentFlag"/>
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="loc_dei_DocumentPeriodEndDate"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_DocumentPeriodEndDate" xml:lang="en-US">Document Period End Date</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_dei_DocumentPeriodEndDate" xml:lang="en-US">Document Period End Date</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentPeriodEndDate" xlink:to="lab_dei_DocumentPeriodEndDate"/>
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="loc_dei_DocumentFiscalPeriodFocus"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xml:lang="en-US">Document Fiscal Period Focus</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xml:lang="en-US">Document Fiscal Period Focus</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalPeriodFocus" xlink:to="lab_dei_DocumentFiscalPeriodFocus"/>
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="loc_dei_DocumentFiscalYearFocus"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_DocumentFiscalYearFocus" xml:lang="en-US">Document Fiscal Year Focus</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_dei_DocumentFiscalYearFocus" xml:lang="en-US">Document Fiscal Year Focus</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalYearFocus" xlink:to="lab_dei_DocumentFiscalYearFocus"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="loc_us-gaap_StatementOfFinancialPositionAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_StatementOfFinancialPositionAbstract" xml:lang="en-US">Statement of Financial Position [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_StatementOfFinancialPositionAbstract" xml:lang="en-US">Statement of Financial Position [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract" xlink:to="lab_us-gaap_StatementOfFinancialPositionAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="loc_us-gaap_AssetsAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_AssetsAbstract" xml:lang="en-US">Assets [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_AssetsAbstract" xml:lang="en-US">ASSETS</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsAbstract" xlink:to="lab_us-gaap_AssetsAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Cash and Cash Equivalents, At Carrying Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Cash and cash equivalents</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Cash and Cash Equivalents, at Carrying Value, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Cash and cash equivalents at the beginning of the period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Cash and cash equivalents at the end of the period</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Restricted Cash and Cash Equivalents, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Restricted cash</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:to="lab_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AvailableForSaleSecuritiesCurrent" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesCurrent" xml:lang="en-US">Available-For-Sale Securities, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesCurrent" xml:lang="en-US">Current portion of marketable securities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesCurrent" xml:lang="en-US">Available-for-sale Securities, Current, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesCurrent" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NontradeReceivablesCurrent" xlink:label="loc_us-gaap_NontradeReceivablesCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_NontradeReceivablesCurrent" xml:lang="en-US">Nontrade Receivables, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_NontradeReceivablesCurrent" xml:lang="en-US">Interest and other receivables</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_NontradeReceivablesCurrent" xml:lang="en-US">Nontrade Receivables, Current, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NontradeReceivablesCurrent" xlink:to="lab_us-gaap_NontradeReceivablesCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PrepaidExpenseCurrent" xlink:label="loc_us-gaap_PrepaidExpenseCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_PrepaidExpenseCurrent" xml:lang="en-US">Prepaid Expense, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_PrepaidExpenseCurrent" xml:lang="en-US">Current portion of prepaid assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_PrepaidExpenseCurrent" xml:lang="en-US">Current portion of prepaid assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PrepaidExpenseCurrent" xlink:to="lab_us-gaap_PrepaidExpenseCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="loc_us-gaap_AssetsCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_AssetsCurrent" xml:lang="en-US">Assets, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_AssetsCurrent" xml:lang="en-US">Total current assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_AssetsCurrent" xml:lang="en-US">Assets, Current, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsCurrent" xlink:to="lab_us-gaap_AssetsCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AvailableForSaleSecuritiesNoncurrent" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesNoncurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesNoncurrent" xml:lang="en-US">Available-For-Sale Securities, Noncurrent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesNoncurrent" xml:lang="en-US">Noncurrent portion of marketable securities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesNoncurrent" xml:lang="en-US">Available-for-sale Securities, Noncurrent, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesNoncurrent" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesNoncurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PrepaidExpenseOtherNoncurrent" xlink:label="loc_us-gaap_PrepaidExpenseOtherNoncurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_PrepaidExpenseOtherNoncurrent" xml:lang="en-US">Prepaid Expense Other, Noncurrent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_PrepaidExpenseOtherNoncurrent" xml:lang="en-US">Noncurrent portion of prepaid assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PrepaidExpenseOtherNoncurrent" xlink:to="lab_us-gaap_PrepaidExpenseOtherNoncurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:label="loc_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xml:lang="en-US">Investments In and Advance To Affiliates, Subsidiaries, Associates, and Joint Ventures</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xml:lang="en-US">Investments in licensees</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xml:lang="en-US">Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:to="lab_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentNet" xml:lang="en-US">Property, Plant and Equipment, Net</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentNet" xml:lang="en-US">Property and equipment, net</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentNet" xml:lang="en-US">Property, Plant and Equipment, Net, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentNet" xml:lang="en-US">Property, Plant and Equipment, Net, Beginning Balance</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentNet" xml:lang="en-US">Property, Plant and Equipment, Net, Ending Balance</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentNet" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentNet"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DepositsAssetsNoncurrent" xlink:label="loc_us-gaap_DepositsAssetsNoncurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_DepositsAssetsNoncurrent" xml:lang="en-US">Deposits Assets, Noncurrent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_DepositsAssetsNoncurrent" xml:lang="en-US">Deposits and other assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_DepositsAssetsNoncurrent" xml:lang="en-US">Deposits and other assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepositsAssetsNoncurrent" xlink:to="lab_us-gaap_DepositsAssetsNoncurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Assets" xlink:label="loc_us-gaap_Assets"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_Assets" xml:lang="en-US">Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_Assets" xml:lang="en-US">Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_Assets" xml:lang="en-US">Assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Assets" xlink:to="lab_us-gaap_Assets"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xml:lang="en-US">Liabilities and Stockholders' Equity [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xml:lang="en-US">LIABILITIES AND STOCKHOLDERS' EQUITY</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountsPayableCurrent" xlink:label="loc_us-gaap_AccountsPayableCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_AccountsPayableCurrent" xml:lang="en-US">Accounts Payable, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_AccountsPayableCurrent" xml:lang="en-US">Accounts payable</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_AccountsPayableCurrent" xml:lang="en-US">Accounts Payable, Current, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsPayableCurrent" xlink:to="lab_us-gaap_AccountsPayableCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EmployeeRelatedLiabilitiesCurrent" xlink:label="loc_us-gaap_EmployeeRelatedLiabilitiesCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_EmployeeRelatedLiabilitiesCurrent" xml:lang="en-US">Employee-related Liabilities, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_EmployeeRelatedLiabilitiesCurrent" xml:lang="en-US">Accrued compensation</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_EmployeeRelatedLiabilitiesCurrent" xml:lang="en-US">Employee-related Liabilities, Current, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeRelatedLiabilitiesCurrent" xlink:to="lab_us-gaap_EmployeeRelatedLiabilitiesCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccruedLiabilitiesCurrent" xlink:label="loc_us-gaap_AccruedLiabilitiesCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_AccruedLiabilitiesCurrent" xml:lang="en-US">Accrued Liabilities, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_AccruedLiabilitiesCurrent" xml:lang="en-US">Accrued liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_AccruedLiabilitiesCurrent" xml:lang="en-US">Accrued Liabilities, Current, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccruedLiabilitiesCurrent" xlink:to="lab_us-gaap_AccruedLiabilitiesCurrent"/>
<loc xlink:type="locator" xlink:href="gern-20110630.xsd#gern_StockIssuanceObligationCurrent" xlink:label="loc_gern_StockIssuanceObligationCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_gern_StockIssuanceObligationCurrent" xml:lang="en-US">Stock Issuance Obligation, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_gern_StockIssuanceObligationCurrent" xml:lang="en-US">Stock issuance obligation</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_gern_StockIssuanceObligationCurrent" xml:lang="en-US">The current carrying amount, due within one year or the normal operating cycle, if longer, of an obligation to issue common stock.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_gern_StockIssuanceObligationCurrent" xlink:to="lab_gern_StockIssuanceObligationCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredRevenueCurrent" xlink:label="loc_us-gaap_DeferredRevenueCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_DeferredRevenueCurrent" xml:lang="en-US">Deferred Revenue, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_DeferredRevenueCurrent" xml:lang="en-US">Deferred revenue</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_DeferredRevenueCurrent" xml:lang="en-US">Deferred Revenue, Current, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredRevenueCurrent" xlink:to="lab_us-gaap_DeferredRevenueCurrent"/>
<loc xlink:type="locator" xlink:href="gern-20110630.xsd#gern_FairvalueDerivativeLiabilities" xlink:label="loc_gern_FairvalueDerivativeLiabilities"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_gern_FairvalueDerivativeLiabilities" xml:lang="en-US">Fairvalue Derivative Liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_gern_FairvalueDerivativeLiabilities" xml:lang="en-US">Fair value of derivatives</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_gern_FairvalueDerivativeLiabilities" xml:lang="en-US">Fair value of derivatives</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_gern_FairvalueDerivativeLiabilities" xml:lang="en-US">Fair values as of the balance sheet date of all outstanding warrants and non-employee options classified as derivative liabilities.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_gern_FairvalueDerivativeLiabilities" xlink:to="lab_gern_FairvalueDerivativeLiabilities"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="loc_us-gaap_LiabilitiesCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_LiabilitiesCurrent" xml:lang="en-US">Liabilities, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_LiabilitiesCurrent" xml:lang="en-US">Total current liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_LiabilitiesCurrent" xml:lang="en-US">Total current liabilities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesCurrent" xlink:to="lab_us-gaap_LiabilitiesCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="loc_us-gaap_CommitmentsAndContingencies"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xml:lang="en-US">Commitments and Contingencies</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xml:lang="en-US">Commitments and contingencies</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingencies" xlink:to="lab_us-gaap_CommitmentsAndContingencies"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="loc_us-gaap_StockholdersEquityAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_StockholdersEquityAbstract" xml:lang="en-US">Stockholders' Equity Attributable to Parent [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_StockholdersEquityAbstract" xml:lang="en-US">Stockholders' equity:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityAbstract" xlink:to="lab_us-gaap_StockholdersEquityAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockValue" xlink:label="loc_us-gaap_CommonStockValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_CommonStockValue" xml:lang="en-US">Common Stock, Value, Issued</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_CommonStockValue" xml:lang="en-US">Common stock</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_CommonStockValue" xml:lang="en-US">Common Stock, Value, Issued, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_us-gaap_CommonStockValue" xml:lang="en-US">Common Stock, Value, Issued, Beginning Balance</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_us-gaap_CommonStockValue" xml:lang="en-US">Common Stock, Value, Issued, Ending Balance</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockValue" xlink:to="lab_us-gaap_CommonStockValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdditionalPaidInCapitalCommonStock" xlink:label="loc_us-gaap_AdditionalPaidInCapitalCommonStock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_AdditionalPaidInCapitalCommonStock" xml:lang="en-US">Additional Paid in Capital, Common Stock</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_AdditionalPaidInCapitalCommonStock" xml:lang="en-US">Additional paid-in capital</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_us-gaap_AdditionalPaidInCapitalCommonStock" xml:lang="en-US">Additional Paid in Capital, Common Stock, Beginning Balance</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_us-gaap_AdditionalPaidInCapitalCommonStock" xml:lang="en-US">Additional Paid in Capital, Common Stock, Ending Balance</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapitalCommonStock" xlink:to="lab_us-gaap_AdditionalPaidInCapitalCommonStock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xml:lang="en-US">Retained Earnings (Accumulated Deficit)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xml:lang="en-US">Accumulated deficit</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xml:lang="en-US">Accumulated deficit</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xml:lang="en-US">Retained Earnings (Accumulated Deficit), Beginning Balance</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xml:lang="en-US">Retained Earnings (Accumulated Deficit), Ending Balance</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="lab_us-gaap_RetainedEarningsAccumulatedDeficit"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Net of Tax</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xml:lang="en-US">Accumulated other comprehensive loss</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xml:lang="en-US">Accumulated other comprehensive loss</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="loc_us-gaap_StockholdersEquity"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_StockholdersEquity" xml:lang="en-US">Stockholders' Equity Attributable to Parent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_StockholdersEquity" xml:lang="en-US">Total stockholders' equity</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_StockholdersEquity" xml:lang="en-US">Total stockholders' equity</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_us-gaap_StockholdersEquity" xml:lang="en-US">Balances</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_us-gaap_StockholdersEquity" xml:lang="en-US">Balances</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquity" xlink:to="lab_us-gaap_StockholdersEquity"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xml:lang="en-US">Liabilities and Stockholders' Equity</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xml:lang="en-US">Liabilities and Stockholders' Equity</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xml:lang="en-US">Liabilities and Stockholders' Equity</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquity"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="loc_us-gaap_IncomeStatementAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_IncomeStatementAbstract" xml:lang="en-US">Income Statement [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_IncomeStatementAbstract" xml:lang="en-US">Income Statement [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementAbstract" xlink:to="lab_us-gaap_IncomeStatementAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ContractsRevenue" xlink:label="loc_us-gaap_ContractsRevenue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_ContractsRevenue" xml:lang="en-US">Contracts Revenue</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_ContractsRevenue" xml:lang="en-US">Revenues from collaborative agreements</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ContractsRevenue" xlink:to="lab_us-gaap_ContractsRevenue"/>
<loc xlink:type="locator" xlink:href="gern-20110630.xsd#gern_LicensesAndRoyaltyRevenue" xlink:label="loc_gern_LicensesAndRoyaltyRevenue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_gern_LicensesAndRoyaltyRevenue" xml:lang="en-US">Licenses and Royalty Revenue</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_gern_LicensesAndRoyaltyRevenue" xml:lang="en-US">License fees and royalties</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_gern_LicensesAndRoyaltyRevenue" xml:lang="en-US">License fees and royalties</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_gern_LicensesAndRoyaltyRevenue" xml:lang="en-US">Revenue earned during the period relating to consideration received from another party for the right to use, but not own, certain of the entity's intangible assets. Licensing arrangements include, but are not limited to, rights to use a patent, copyright, technology, manufacturing process, software or trademark. Licensing fees are generally, but not always, fixed as to amount and not dependent upon the revenue generated by the licensing party. An entity may receive licensing fees for licenses that also generate royalty payments to the entity. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property. Examples of property from which royalties may be derived include patents and oil and mineral rights.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_gern_LicensesAndRoyaltyRevenue" xlink:to="lab_gern_LicensesAndRoyaltyRevenue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SalesRevenueNet" xlink:label="loc_us-gaap_SalesRevenueNet"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_SalesRevenueNet" xml:lang="en-US">Revenue, Net</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_SalesRevenueNet" xml:lang="en-US">Total revenues</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SalesRevenueNet" xlink:to="lab_us-gaap_SalesRevenueNet"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingExpensesAbstract" xlink:label="loc_us-gaap_OperatingExpensesAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_OperatingExpensesAbstract" xml:lang="en-US">Operating Expenses [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_OperatingExpensesAbstract" xml:lang="en-US">Operating expenses:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingExpensesAbstract" xlink:to="lab_us-gaap_OperatingExpensesAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost" xlink:label="loc_us-gaap_ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost" xml:lang="en-US">Research and Development Expense (Excluding Acquired in Process Cost)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost" xml:lang="en-US">Research and development (including amounts for related parties: three months - 2011-none; 2010- $317; six months 2011-none; 2010-$644)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost" xlink:to="lab_us-gaap_ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="loc_us-gaap_GeneralAndAdministrativeExpense"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xml:lang="en-US">General and Administrative Expense</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xml:lang="en-US">General and administrative</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xml:lang="en-US">General and administrative</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeneralAndAdministrativeExpense" xlink:to="lab_us-gaap_GeneralAndAdministrativeExpense"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingExpenses" xlink:label="loc_us-gaap_OperatingExpenses"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_OperatingExpenses" xml:lang="en-US">Operating Expenses</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_OperatingExpenses" xml:lang="en-US">Total operating expenses</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_OperatingExpenses" xml:lang="en-US">Total operating expenses</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingExpenses" xlink:to="lab_us-gaap_OperatingExpenses"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="loc_us-gaap_OperatingIncomeLoss"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_OperatingIncomeLoss" xml:lang="en-US">Operating Income (Loss)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_OperatingIncomeLoss" xml:lang="en-US">Loss from operations</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_OperatingIncomeLoss" xml:lang="en-US">Operating Income (Loss), Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingIncomeLoss" xlink:to="lab_us-gaap_OperatingIncomeLoss"/>
<loc xlink:type="locator" xlink:href="gern-20110630.xsd#gern_UnrealizedGainLossOnFairvalueOfDerivativeLiabilities" xlink:label="loc_gern_UnrealizedGainLossOnFairvalueOfDerivativeLiabilities"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_gern_UnrealizedGainLossOnFairvalueOfDerivativeLiabilities" xml:lang="en-US">Unrealized Gain Loss On Fairvalue Of Derivative Liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_gern_UnrealizedGainLossOnFairvalueOfDerivativeLiabilities" xml:lang="en-US">Unrealized gain on derivatives, net</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_gern_UnrealizedGainLossOnFairvalueOfDerivativeLiabilities" xml:lang="en-US">The net change during the reporting period in the fair value measurement, or in the comparative fair values, of all warrants and non-employee options classified as derivative liabilities. The net change in the fair values from one financial reporting period to the next is recorded as unrealized gain (loss) on derivatives.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_gern_UnrealizedGainLossOnFairvalueOfDerivativeLiabilities" xml:lang="en-US">Unrealized gain on fair value of derivatives</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="lab_gern_UnrealizedGainLossOnFairvalueOfDerivativeLiabilities" xml:lang="en-US">Unrealized gain on fair value of derivatives</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_gern_UnrealizedGainLossOnFairvalueOfDerivativeLiabilities" xlink:to="lab_gern_UnrealizedGainLossOnFairvalueOfDerivativeLiabilities"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestAndOtherIncome" xlink:label="loc_us-gaap_InterestAndOtherIncome"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_InterestAndOtherIncome" xml:lang="en-US">Interest and Other Income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_InterestAndOtherIncome" xml:lang="en-US">Interest and other income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_InterestAndOtherIncome" xml:lang="en-US">Interest and other expense</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_us-gaap_InterestAndOtherIncome" xml:lang="en-US">Interest and other expense</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="lab_us-gaap_InterestAndOtherIncome" xml:lang="en-US">Interest and other expense</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestAndOtherIncome" xlink:to="lab_us-gaap_InterestAndOtherIncome"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="loc_us-gaap_IncomeLossFromEquityMethodInvestments"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xml:lang="en-US">Income (Loss) from Equity Method Investments</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xml:lang="en-US">Losses recognized under equity method investment</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xml:lang="en-US">Income (Loss) from Equity Method Investments, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xml:lang="en-US">Loss on investments in licensees</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:to="lab_us-gaap_IncomeLossFromEquityMethodInvestments"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherNonoperatingExpense" xlink:label="loc_us-gaap_OtherNonoperatingExpense"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_OtherNonoperatingExpense" xml:lang="en-US">Other Nonoperating Expense</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_OtherNonoperatingExpense" xml:lang="en-US">Interest and other expense</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_us-gaap_OtherNonoperatingExpense" xml:lang="en-US">Interest and other expense</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="lab_us-gaap_OtherNonoperatingExpense" xml:lang="en-US">Interest and other expense</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherNonoperatingExpense" xlink:to="lab_us-gaap_OtherNonoperatingExpense"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_us-gaap_NetIncomeLoss"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_NetIncomeLoss" xml:lang="en-US">Net Income (Loss) Attributable To Parent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_NetIncomeLoss" xml:lang="en-US">Net loss</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_NetIncomeLoss" xml:lang="en-US">Net loss</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLoss" xlink:to="lab_us-gaap_NetIncomeLoss"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EarningsPerShareBasicAndDiluted" xlink:label="loc_us-gaap_EarningsPerShareBasicAndDiluted"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_EarningsPerShareBasicAndDiluted" xml:lang="en-US">Earnings Per Share, Basic and Diluted</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_EarningsPerShareBasicAndDiluted" xml:lang="en-US">Basic and diluted net loss per share (in dollars per share)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_EarningsPerShareBasicAndDiluted" xml:lang="en-US">Basic and diluted net loss per share (in dollars per share)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareBasicAndDiluted" xlink:to="lab_us-gaap_EarningsPerShareBasicAndDiluted"/>
<loc xlink:type="locator" xlink:href="gern-20110630.xsd#gern_WeightedAverageNumberOfCommonSharesOutstandingBasicAndDiluted" xlink:label="loc_gern_WeightedAverageNumberOfCommonSharesOutstandingBasicAndDiluted"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_gern_WeightedAverageNumberOfCommonSharesOutstandingBasicAndDiluted" xml:lang="en-US">Weighted Average Number Of Common Shares Outstanding Basic and Diluted</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_gern_WeightedAverageNumberOfCommonSharesOutstandingBasicAndDiluted" xml:lang="en-US">Shares used in computing basic and diluted net loss per share (in shares)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_gern_WeightedAverageNumberOfCommonSharesOutstandingBasicAndDiluted" xml:lang="en-US">Shares used in computing basic and diluted net loss per share (in shares)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_gern_WeightedAverageNumberOfCommonSharesOutstandingBasicAndDiluted" xml:lang="en-US">The average number of shares issued and outstanding that are used in calculating common stock basic and diluted EPS, determined based on the timing of issuance of shares in the period.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_gern_WeightedAverageNumberOfCommonSharesOutstandingBasicAndDiluted" xlink:to="lab_gern_WeightedAverageNumberOfCommonSharesOutstandingBasicAndDiluted"/>
<loc xlink:type="locator" xlink:href="gern-20110630.xsd#gern_IncomeStatementParentheticalAbstract" xlink:label="loc_gern_IncomeStatementParentheticalAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_gern_IncomeStatementParentheticalAbstract" xml:lang="en-US">Income Statement Parenthetical [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_gern_IncomeStatementParentheticalAbstract" xml:lang="en-US">Income Statement Parenthetical [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_gern_IncomeStatementParentheticalAbstract" xml:lang="en-US">Income Statement Parenthetical</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_gern_IncomeStatementParentheticalAbstract" xlink:to="lab_gern_IncomeStatementParentheticalAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:label="loc_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xml:lang="en-US">Related Party Transaction, Expenses from Transactions with Related Party</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xml:lang="en-US">Related party expense related to research and development</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:to="lab_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="loc_us-gaap_StatementOfCashFlowsAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract" xml:lang="en-US">Statement of Cash Flows [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract" xml:lang="en-US">Statement of Cash Flows [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract" xlink:to="lab_us-gaap_StatementOfCashFlowsAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseAbstract" xlink:label="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseAbstract" xml:lang="en-US">Cash and Cash Equivalents, Period Increase (Decrease) [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseAbstract" xml:lang="en-US">Cash and Cash Equivalents, Period Increase (Decrease) [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseAbstract" xlink:to="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xml:lang="en-US">Cash flows from operating activities:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xml:lang="en-US">Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xml:lang="en-US">Adjustments to reconcile net loss to net cash used in operating activities:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DepreciationNonproduction" xlink:label="loc_us-gaap_DepreciationNonproduction"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_DepreciationNonproduction" xml:lang="en-US">Depreciation, Nonproduction</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_DepreciationNonproduction" xml:lang="en-US">Depreciation and amortization</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepreciationNonproduction" xlink:to="lab_us-gaap_DepreciationNonproduction"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments" xlink:label="loc_us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments" xml:lang="en-US">Accretion (Amortization) of Discounts and Premiums, Investments</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments" xml:lang="en-US">Accretion and amortization on investments, net</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments" xml:lang="en-US">Accretion and amortization on investments, net</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments" xlink:to="lab_us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GainLossOnSaleOfPropertyPlantEquipment" xlink:label="loc_us-gaap_GainLossOnSaleOfPropertyPlantEquipment"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_GainLossOnSaleOfPropertyPlantEquipment" xml:lang="en-US">Gain (Loss) On Sale Of Property Plant Equipment</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_GainLossOnSaleOfPropertyPlantEquipment" xml:lang="en-US">Loss on retirement/sale of property and equipment</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_GainLossOnSaleOfPropertyPlantEquipment" xml:lang="en-US">Gain (Loss) on Sale of Property Plant Equipment, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_us-gaap_GainLossOnSaleOfPropertyPlantEquipment" xml:lang="en-US">Loss on retirement/sale of property and equipment</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainLossOnSaleOfPropertyPlantEquipment" xlink:to="lab_us-gaap_GainLossOnSaleOfPropertyPlantEquipment"/>
<loc xlink:type="locator" xlink:href="gern-20110630.xsd#gern_ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOffNonCash" xlink:label="loc_gern_ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOffNonCash"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_gern_ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOffNonCash" xml:lang="en-US">Research and Development Asset Acquired Other Than Through Business Combination Written Off Non Cash</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_gern_ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOffNonCash" xml:lang="en-US">Issuance of common stock for acquired in-process research and development</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_gern_ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOffNonCash" xml:lang="en-US">The noncash amount of the write-off for research and development assets that were acquired in a transaction other than a business combination.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_gern_ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOffNonCash" xml:lang="en-US">Issuance of common stock for acquired in-process research and development</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_gern_ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOffNonCash" xlink:to="lab_gern_ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOffNonCash"/>
<loc xlink:type="locator" xlink:href="gern-20110630.xsd#gern_IssuanceOfStockAndOptionsServices" xlink:label="loc_gern_IssuanceOfStockAndOptionsServices"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_gern_IssuanceOfStockAndOptionsServices" xml:lang="en-US">Issuance Of Stock and Options Services</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_gern_IssuanceOfStockAndOptionsServices" xml:lang="en-US">Issuance of common stock in exchange for services by non-employees</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_gern_IssuanceOfStockAndOptionsServices" xml:lang="en-US">The value of common stock, restricted stock or stock options issued or granted for services rendered by non-employees. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_gern_IssuanceOfStockAndOptionsServices" xlink:to="lab_gern_IssuanceOfStockAndOptionsServices"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="loc_us-gaap_ShareBasedCompensation"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_ShareBasedCompensation" xml:lang="en-US">Share-Based Compensation</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_ShareBasedCompensation" xml:lang="en-US">Stock-based compensation for employees and directors</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_ShareBasedCompensation" xml:lang="en-US">Share-based Compensation, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensation" xlink:to="lab_us-gaap_ShareBasedCompensation"/>
<loc xlink:type="locator" xlink:href="gern-20110630.xsd#gern_AmortizationRelatedToShareBasedMatchingContributions" xlink:label="loc_gern_AmortizationRelatedToShareBasedMatchingContributions"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_gern_AmortizationRelatedToShareBasedMatchingContributions" xml:lang="en-US">Amortization Related To Share Based Matching Contributions</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_gern_AmortizationRelatedToShareBasedMatchingContributions" xml:lang="en-US">Amortization related to 401(k) contributions</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_gern_AmortizationRelatedToShareBasedMatchingContributions" xml:lang="en-US">The amount of noncash employee related expense charged against earnings during the reporting period for the vested portion of employer matching contributions in common stock under a defined-contribution savings plan under Section 401(k) of the Internal Revenue Code. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_gern_AmortizationRelatedToShareBasedMatchingContributions" xlink:to="lab_gern_AmortizationRelatedToShareBasedMatchingContributions"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xml:lang="en-US">Increase (Decrease) in Operating Capital [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xml:lang="en-US">Changes in assets and liabilities:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xml:lang="en-US">Increase (Decrease) in Other Operating Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xml:lang="en-US">Other current and noncurrent assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xml:lang="en-US">Other current and noncurrent assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xml:lang="en-US">Increase (Decrease) in Other Operating Liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xml:lang="en-US">Other current and noncurrent liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xml:lang="en-US">Other current and noncurrent liabilities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CumulativeTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease" xlink:label="loc_us-gaap_CumulativeTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_CumulativeTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease" xml:lang="en-US">Cumulative Translation Adjustment, Net of Tax, Period Increase (Decrease)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_CumulativeTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease" xml:lang="en-US">Translation adjustment</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_CumulativeTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease" xml:lang="en-US">Translation adjustment</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_us-gaap_CumulativeTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease" xml:lang="en-US">Translation adjustment</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="lab_us-gaap_CumulativeTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease" xml:lang="en-US">Translation adjustment</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CumulativeTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease" xlink:to="lab_us-gaap_CumulativeTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xml:lang="en-US">Net Cash Provided By (Used In) Operating Activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xml:lang="en-US">Net cash used in operating activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xml:lang="en-US">Net Cash Provided by (Used in) Investing Activities [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xml:lang="en-US">Cash flows from investing activities:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInRestrictedCash" xlink:label="loc_us-gaap_IncreaseDecreaseInRestrictedCash"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_IncreaseDecreaseInRestrictedCash" xml:lang="en-US">Increase (Decrease) in Restricted Cash</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_IncreaseDecreaseInRestrictedCash" xml:lang="en-US">Restricted cash transfer</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_IncreaseDecreaseInRestrictedCash" xml:lang="en-US">Increase (Decrease) in Restricted Cash, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_us-gaap_IncreaseDecreaseInRestrictedCash" xml:lang="en-US">Restricted cash transfer</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInRestrictedCash" xlink:to="lab_us-gaap_IncreaseDecreaseInRestrictedCash"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:label="loc_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xml:lang="en-US">Payments To Acquire Property, Plant, and Equipment</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xml:lang="en-US">Purchases of property and equipment</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xml:lang="en-US">Payments to Acquire Property, Plant, and Equipment, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xml:lang="en-US">Purchases of property and equipment</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xlink:label="loc_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xml:lang="en-US">Proceeds From Sale Of Property, Plant, and Equipment</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xml:lang="en-US">Proceeds from sale of property and equipment</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xml:lang="en-US">Proceeds from Sale of Property, Plant, and Equipment, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xlink:to="lab_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquireAvailableForSaleSecurities" xlink:label="loc_us-gaap_PaymentsToAcquireAvailableForSaleSecurities"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecurities" xml:lang="en-US">Payments to Acquire Available for Sale Securities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecurities" xml:lang="en-US">Purchases of marketable securities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecurities" xml:lang="en-US">Payments to Acquire Available for Sale Securities, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecurities" xml:lang="en-US">Purchases of marketable securities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireAvailableForSaleSecurities" xlink:to="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecurities"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities" xlink:label="loc_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities" xml:lang="en-US">Proceeds From Maturities, Prepayments and Calls Of Available-For-Sale Securities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities" xml:lang="en-US">Proceeds from maturities of marketable securities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities" xml:lang="en-US">Proceeds from maturities of marketable securities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities" xlink:to="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xml:lang="en-US">Net Cash Provided By (Used In) Investing Activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xml:lang="en-US">Net cash provided by investing activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xml:lang="en-US">Net Cash Provided by (Used in) Investing Activities, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xml:lang="en-US">Cash flows from financing activities:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfCommonStock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfCommonStock" xml:lang="en-US">Proceeds from Issuance of Common Stock</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfCommonStock" xml:lang="en-US">Proceeds from issuances of common stock and warrants, net of issuance costs</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfCommonStock" xml:lang="en-US">Proceeds from issuances of common stock and warrants, net of issuance costs</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:to="lab_us-gaap_ProceedsFromIssuanceOfCommonStock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xml:lang="en-US">Net cash provided by financing activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xml:lang="en-US">Net cash provided by financing activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xml:lang="en-US">Net cash provided by financing activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xml:lang="en-US">Cash and Cash Equivalents, Period Increase (Decrease)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xml:lang="en-US">Net (decrease) increase in cash and cash equivalents</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xml:lang="en-US">Net (decrease) increase in cash and cash equivalents</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" xml:lang="en-US">Organization and Summary Of Significant Accounting Policies [Text Block]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" xlink:to="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueDisclosuresAbstract" xlink:label="loc_us-gaap_FairValueDisclosuresAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_FairValueDisclosuresAbstract" xml:lang="en-US">Fair Value Disclosures [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_FairValueDisclosuresAbstract" xml:lang="en-US">Fair Value Measurements [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosuresAbstract" xlink:to="lab_us-gaap_FairValueDisclosuresAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueDisclosuresTextBlock" xlink:label="loc_us-gaap_FairValueDisclosuresTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock" xml:lang="en-US">Fair Value Disclosures [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock" xml:lang="en-US">Fair Value Disclosures [Text Block]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosuresTextBlock" xlink:to="lab_us-gaap_FairValueDisclosuresTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract" xlink:label="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract" xml:lang="en-US">Equity Method Investments and Joint Ventures [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract" xml:lang="en-US">Equity Method Investments and Joint Ventures [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract" xlink:to="lab_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EquityMethodInvestmentsDisclosureTextBlock" xlink:label="loc_us-gaap_EquityMethodInvestmentsDisclosureTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock" xml:lang="en-US">Equity Method Investments Disclosure [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock" xml:lang="en-US">Equity Method Investments Disclosure [Text Block]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentsDisclosureTextBlock" xlink:to="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CollaborativeArrangementDisclosureTextBlock" xlink:label="loc_us-gaap_CollaborativeArrangementDisclosureTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_CollaborativeArrangementDisclosureTextBlock" xml:lang="en-US">Collaborative Arrangement Disclosure [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_CollaborativeArrangementDisclosureTextBlock" xml:lang="en-US">Collaborative Arrangement Disclosure [Text Block]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CollaborativeArrangementDisclosureTextBlock" xlink:to="lab_us-gaap_CollaborativeArrangementDisclosureTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SegmentReportingAbstract" xlink:label="loc_us-gaap_SegmentReportingAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_SegmentReportingAbstract" xml:lang="en-US">Segment Reporting [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_SegmentReportingAbstract" xml:lang="en-US">Segment Information [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingAbstract" xlink:to="lab_us-gaap_SegmentReportingAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SegmentReportingDisclosureTextBlock" xlink:label="loc_us-gaap_SegmentReportingDisclosureTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_SegmentReportingDisclosureTextBlock" xml:lang="en-US">Segment Reporting Disclosure [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_SegmentReportingDisclosureTextBlock" xml:lang="en-US">Segment Reporting Disclosure [Text Block]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingDisclosureTextBlock" xlink:to="lab_us-gaap_SegmentReportingDisclosureTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SupplementalCashFlowElementsAbstract" xlink:label="loc_us-gaap_SupplementalCashFlowElementsAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_SupplementalCashFlowElementsAbstract" xml:lang="en-US">Supplemental Cash Flow Elements [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_SupplementalCashFlowElementsAbstract" xml:lang="en-US">Consolidated Statements Of Cash Flows Data [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SupplementalCashFlowElementsAbstract" xlink:to="lab_us-gaap_SupplementalCashFlowElementsAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashFlowSupplementalDisclosuresTextBlock" xlink:label="loc_us-gaap_CashFlowSupplementalDisclosuresTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_CashFlowSupplementalDisclosuresTextBlock" xml:lang="en-US">Cash Flow, Supplemental Disclosures [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_CashFlowSupplementalDisclosuresTextBlock" xml:lang="en-US">Cash Flow, Supplemental Disclosures [Text Block]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashFlowSupplementalDisclosuresTextBlock" xlink:to="lab_us-gaap_CashFlowSupplementalDisclosuresTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SubsequentEventsAbstract" xlink:label="loc_us-gaap_SubsequentEventsAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_SubsequentEventsAbstract" xml:lang="en-US">Subsequent Events [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_SubsequentEventsAbstract" xml:lang="en-US">Subsequent Events [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventsAbstract" xlink:to="lab_us-gaap_SubsequentEventsAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SubsequentEventsTextBlock" xlink:label="loc_us-gaap_SubsequentEventsTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_SubsequentEventsTextBlock" xml:lang="en-US">Subsequent Events [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_SubsequentEventsTextBlock" xml:lang="en-US">Subsequent Events [Text Block]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventsTextBlock" xlink:to="lab_us-gaap_SubsequentEventsTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredRevenueNoncurrent" xlink:label="loc_us-gaap_DeferredRevenueNoncurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_DeferredRevenueNoncurrent" xml:lang="en-US">Deferred Revenue, Noncurrent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_DeferredRevenueNoncurrent" xml:lang="en-US">Noncurrent portion of deferred revenue</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_DeferredRevenueNoncurrent" xml:lang="en-US">Deferred Revenue, Noncurrent, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredRevenueNoncurrent" xlink:to="lab_us-gaap_DeferredRevenueNoncurrent"/>
</labelLink></linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>10
<FILENAME>gern-20110630_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="UTF-8" ?>
<linkbase xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
<roleRef xlink:type="simple" xlink:href="gern-20110630.xsd#StatementOfFinancialPositionClassified" roleURI="http://www.geron.com/role/StatementOfFinancialPositionClassified"/>
<calculationLink xlink:type="extended" xlink:role="http://www.geron.com/role/StatementOfFinancialPositionClassified">
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="loc_us-gaap_AssetsCurrent" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue" />
<calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent" xlink:to="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue" order="20" use="optional" weight="1"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" />
<calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent" xlink:to="loc_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" order="40" use="optional" weight="1"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AvailableForSaleSecuritiesCurrent" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesCurrent" />
<calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent" xlink:to="loc_us-gaap_AvailableForSaleSecuritiesCurrent" order="60" use="optional" weight="1"/>
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<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>11
<FILENAME>gern-20110630_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
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﻿<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=utf-8">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.3.0.11</span><table class="report" border="0" cellspacing="2" id="ID0E6FAG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)<br>In Thousands, except Share data</strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
        <th class="th" colspan="2">6 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Jun. 30, 2011</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2010</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2011</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2010</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractsRevenue', window );">Revenues from collaborative agreements</a></td>
        <td class="nump">$ 150<span></span></td>
        <td class="nump">$ 225<span></span></td>
        <td class="nump">$ 300<span></span></td>
        <td class="nump">$ 450<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gern_LicensesAndRoyaltyRevenue', window );">License fees and royalties</a></td>
        <td class="nump">312<span></span></td>
        <td class="nump">776<span></span></td>
        <td class="nump">1,667<span></span></td>
        <td class="nump">1,469<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueNet', window );">Total revenues</a></td>
        <td class="nump">462<span></span></td>
        <td class="nump">1,001<span></span></td>
        <td class="nump">1,967<span></span></td>
        <td class="nump">1,919<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpensesAbstract', window );"><strong>Operating expenses:</strong></a></td>
        <td class="text"> <span></span></td>
        <td class="text"> <span></span></td>
        <td class="text"> <span></span></td>
        <td class="text"> <span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost', window );">Research and development (including amounts for related parties: three months - 2011-none; 2010- $317; six months 2011-none; 2010-$644)</a></td>
        <td class="nump">16,544<span></span></td>
        <td class="nump">13,389<span></span></td>
        <td class="nump">33,299<span></span></td>
        <td class="nump">26,934<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">General and administrative</a></td>
        <td class="nump">5,334<span></span></td>
        <td class="nump">4,488<span></span></td>
        <td class="nump">14,440<span></span></td>
        <td class="nump">8,338<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Total operating expenses</a></td>
        <td class="nump">21,878<span></span></td>
        <td class="nump">17,877<span></span></td>
        <td class="nump">47,739<span></span></td>
        <td class="nump">35,272<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Loss from operations</a></td>
        <td class="num">(21,416)<span></span></td>
        <td class="num">(16,876)<span></span></td>
        <td class="num">(45,772)<span></span></td>
        <td class="num">(33,353)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gern_UnrealizedGainLossOnFairvalueOfDerivativeLiabilities', window );">Unrealized gain on derivatives, net</a></td>
        <td class="nump">240<span></span></td>
        <td class="nump">172<span></span></td>
        <td class="nump">279<span></span></td>
        <td class="nump">230<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestAndOtherIncome', window );">Interest and other income</a></td>
        <td class="nump">287<span></span></td>
        <td class="nump">194<span></span></td>
        <td class="nump">583<span></span></td>
        <td class="nump">396<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">Losses recognized under equity method investment</a></td>
        <td class="num">(168)<span></span></td>
        <td class="num">(496)<span></span></td>
        <td class="num">(503)<span></span></td>
        <td class="num">(892)<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherNonoperatingExpense', window );">Interest and other expense</a></td>
        <td class="num">(31)<span></span></td>
        <td class="num">(25)<span></span></td>
        <td class="num">(64)<span></span></td>
        <td class="num">(52)<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
        <td class="num">$ (21,088)<span></span></td>
        <td class="num">$ (17,031)<span></span></td>
        <td class="num">$ (45,477)<span></span></td>
        <td class="num">$ (33,671)<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAndDiluted', window );">Basic and diluted net loss per share (in dollars per share)</a></td>
        <td class="num">$ (0.17)<span></span></td>
        <td class="num">$ (0.18)<span></span></td>
        <td class="num">$ (0.37)<span></span></td>
        <td class="num">$ (0.35)<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gern_WeightedAverageNumberOfCommonSharesOutstandingBasicAndDiluted', window );">Shares used in computing basic and diluted net loss per share (in shares)</a></td>
        <td class="nump">124,579,190<span></span></td>
        <td class="nump">96,712,059<span></span></td>
        <td class="nump">123,838,959<span></span></td>
        <td class="nump">95,862,080<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gern_LicensesAndRoyaltyRevenue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Revenue earned during the period relating to consideration received from another party for the right to use, but not own, certain of the entity's intangible assets. Licensing arrangements include, but are not limited to, rights to use a patent, copyright, technology, manufacturing process, software or trademark. Licensing fees are generally, but not always, fixed as to amount and not dependent upon the revenue generated by the licensing party. An entity may receive licensing fees for licenses that also generate royalty payments to the entity. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property. Examples of property from which royalties may be derived include patents and oil and mineral rights.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>gern_LicensesAndRoyaltyRevenue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>gern</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gern_UnrealizedGainLossOnFairvalueOfDerivativeLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net change during the reporting period in the fair value measurement, or in the comparative fair values, of all warrants and non-employee options classified as derivative liabilities. The net change in the fair values from one financial reporting period to the next is recorded as unrealized gain (loss) on derivatives.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>gern_UnrealizedGainLossOnFairvalueOfDerivativeLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>gern</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gern_WeightedAverageNumberOfCommonSharesOutstandingBasicAndDiluted">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The average number of shares issued and outstanding that are used in calculating common stock basic and diluted EPS, determined based on the timing of issuance of shares in the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>gern_WeightedAverageNumberOfCommonSharesOutstandingBasicAndDiluted</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>gern</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractsRevenue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Revenue earned during the period arising from products sold or services provided under the terms of a contract, not elsewhere specified in the taxonomy. May include government contracts, construction contracts, and any other contract related to a particular project or product.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ContractsRevenue</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
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                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicAndDiluted">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements.  Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period.  Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EarningsPerShareBasicAndDiluted</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GeneralAndAdministrativeExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GeneralAndAdministrativeExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromEquityMethodInvestments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6382870&amp;loc=d3e33749-111570<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher AICPA<br> -Name Accounting Principles Board Opinion (APB)<br> -Number 18<br> -Paragraph 19<br> -Subparagraph c<br> -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.<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher AICPA<br> -Name Accounting Principles Board Opinion (APB)<br> -Number 18<br> -Paragraph 6<br> -Subparagraph b<br> -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.<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 28<br> -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.<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 11<br> -Article 7<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Article 5<br> -Section 03<br> -Paragraph 9<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromEquityMethodInvestments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestAndOtherIncome">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of interest income and other income recognized during the period. Included in this element is interest derived from investments in debt securities, cash and cash equivalents, and other investments which reflect the time value of money or transactions in which the payments are for the use or forbearance of money and other income from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InterestAndOtherIncome</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher AICPA<br> -Name Accounting Research Bulletin (ARB)<br> -Number 51<br> -Paragraph 38<br> -Subparagraph a<br> -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.<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e565-108580<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher AICPA<br> -Name Accounting Research Bulletin (ARB)<br> -Number 51<br> -Paragraph A7<br> -Appendix A<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 130<br> -Paragraph 10, 15<br> -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.<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher AICPA<br> -Name Accounting Research Bulletin (ARB)<br> -Number 51<br> -Paragraph 38<br> -Subparagraph d<br> -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.<br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Emerging Issues Task Force (EITF)<br> -Number 87-21<br> -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.<br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Article 5<br> -Section 03<br> -Paragraph 19<br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 28, 29, 30<br> -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.<br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpenses">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OperatingExpenses</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpensesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OperatingExpensesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net result for the period of deducting operating expenses from operating revenues.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OperatingIncomeLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherNonoperatingExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate amount of other expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating expense recognized during the period. Such amounts may include: (a) unusual costs, (b) loss on foreign exchange transactions, (c) losses on securities (net of profits), and (d) miscellaneous other expense items.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Article 5<br> -Section 03<br> -Paragraph 9<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherNonoperatingExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The costs incurred in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, excluding in-process research and development acquired in a business combination consummated during the period. Excludes software research and development, which has a separate concept.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 730<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6420194&amp;loc=d3e21568-108373<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Research and Development<br> -URI http://asc.fasb.org/extlink&amp;oid=6523717<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 86<br> -Paragraph 11<br> -Subparagraph b<br> -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.<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 86<br> -Paragraph 3<br> -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.<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 2<br> -Paragraph 8, 12, 13<br> -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.<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SalesRevenueNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Article 5<br> -Section 03<br> -Paragraph 1<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SalesRevenueNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
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<DOCUMENT>
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<SEQUENCE>13
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﻿<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=utf-8">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.3.0.11</span><table class="report" border="0" cellspacing="2" id="ID0E1MAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (PARENTHETICAL) (USD $)<br>In Thousands</strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
        <th class="th" colspan="2">6 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Jun. 30, 2011</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2010</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2011</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2010</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty', window );">Related party expense related to research and development</a></td>
        <td class="nump">$ 0<span></span></td>
        <td class="nump">$ 317<span></span></td>
        <td class="nump">$ 0<span></span></td>
        <td class="nump">$ 644<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Expenses recognized during the period resulting from transactions (excluding transactions that are eliminated in consolidated or combined financial statements) with related party during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 57<br> -Paragraph 2<br> -Subparagraph c<br> -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.<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
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                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
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﻿<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=utf-8">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.3.0.11</span><table class="report" border="0" cellspacing="2" id="ID0E5EAE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>DOCUMENT AND ENTITY INFORMATION<br></strong></div>
        </th>
        <th class="th" colspan="1">6 Months Ended</th>
        <th class="th" colspan="1"></th>
      </tr>
      <tr>
        <th class="th">
          <div>Jun. 30, 2011</div>
        </th>
        <th class="th">
          <div>Jul. 25, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
        <td class="text">GERON CORP<span></span></td>
        <td class="text"> <span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
        <td class="text">0000886744<span></span></td>
        <td class="text"> <span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
        <td class="text">--12-31<span></span></td>
        <td class="text"> <span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
        <td class="text">Accelerated Filer<span></span></td>
        <td class="text"> <span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
        <td class="text">gern<span></span></td>
        <td class="text"> <span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
        <td class="text"> <span></span></td>
        <td class="nump">131,426,017<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
        <td class="text">10-Q<span></span></td>
        <td class="text"> <span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
        <td class="text">false<span></span></td>
        <td class="text"> <span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
        <td class="text">Jun. 30,
         2011<span></span></td>
        <td class="text"><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
        <td class="text">Q2<span></span></td>
        <td class="text"> <span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
        <td class="text">2011<span></span></td>
        <td class="text"> <span></span></td>
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    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>If the value is true, then the document as an amendment to previously-filed/accepted document.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_AmendmentFlag</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:booleanItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
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                  </tr>
                </table>
              </div>
            </div>
          </td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>End date of current fiscal year in the format --MM-DD.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_CurrentFiscalYearEndDate</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:gMonthDayItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_DocumentFiscalPeriodFocus</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:fiscalPeriodItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalYearFocus">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_DocumentFiscalYearFocus</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:gYearItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_DocumentPeriodEndDate</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:dateItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
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        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type is limited to the same value as the supporting SEC submission type, minus any "/A" suffix. The acceptable values are as follows: S-1, S-3, S-4, S-11, F-1, F-3, F-4, F-9, F-10, 6-K, 8-K, 10, 10-K, 10-Q, 20-F, 40-F, N-1A, 485BPOS, 497, NCSR, N-CSR, N-CSRS, N-Q, 10-KT, 10-QT, 20-FT, and Other.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_DocumentType</nobr></td>
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                <p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p>
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                <p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p>
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                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br><br></p>
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                <p>Trading symbol of an instrument as listed on an exchange.</p>
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  <body><span style="display: none;">v2.3.0.11</span><table class="report" border="0" cellspacing="2" id="ID0E2H">
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          <div style="width: 200px;"><strong>SUBSEQUENT EVENTS<br></strong></div>
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        <th class="th" colspan="1">6 Months Ended</th>
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      <tr>
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          <div>Jun. 30, 2011</div>
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        <td class="text"><div><div><div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >7. SUBSEQUENT EVENT
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</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;
</font><font style="display:inline;font-family:times new roman, serif;font-size:10pt;" ><font style="display:inline;" >Effective August 1, 2011, Geron entered into a Loan Agreement with the California Institute for Regenerative Medicine (CIRM)
</font>to support Geron&#8217;s human embryonic stem-cell derived oligodendrocyte progenitor therapy (GRNOPC1) for the treatment of spinal cord injury.<font style="display:inline;" >&#160;
</font>CIRM shall disburse to Geron an aggregate of $24,846,856 over a period of three years commencing on August 1, 2011 and ending on July 31, 2014. The disbursements are pursuant to an established schedule and, in certain cases, are conditioned upon the achievement of project milestones. The initial term of the Loan Agreement is five years and Geron may request extension of the Loan Agreement for one additional term of five years for a maximum total of ten years from the Effective Date. The interest rate for each quarterly disbursement of the loan is equal to the one year LIBOR rate plus 2%. Interest is compounded annually on the principal amount from the date of the applicable disbursement. Repayment of the principal and any accrued interest shall be due and payable at the end of the initial term. If the loan is extended, certain interest payments are due during the second five years. Repayment of the loan is suspended if the supported project is abandoned for any reason. Any loan amount that has not been due and payable for 15 years after the granting of a suspension of repayment will be automatically forgiven by CIRM.
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</div><div style="text-align:left;text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" >&#160;&#160;&#160;&#160; <font style="font-family:times new roman;" ><font style="display:inline;font-family:times new roman, serif;font-size:10pt;" >In connection with each disbursement, Geron shall issue to CIRM a warrant to purchase Geron common stock.&#160;&#160;The number of shares underlying each of the warrants will be equal to 50% of the applicable disbursement amount divided by the average of the closing sales prices of Geron common stock as reported by The NASDAQ Global Select Market for the ten consecutive trading days immediately preceding the corresponding disbursement (Average Closing Price).&#160;&#160;The exercise price of each warrant shall also be equal to the Average Closing Price preceding the issuance of the warrant. Each of the warrants and the underlying common stock will be unregistered and each warrant shall have a term of ten years from the respective date of issuance.
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  <body><span style="display: none;">v2.3.0.11</span><table class="report" border="0" cellspacing="2" id="ID0E2H">
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          <div style="width: 200px;"><strong>EQUITY METHOD INVESTMENT<br></strong></div>
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          <div>Jun. 30, 2011</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract', window );"><strong>Equity Method Investments and Joint Ventures [Abstract]</strong></a></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentsDisclosureTextBlock', window );">Equity Method Investments Disclosure [Text Block]</a></td>
        <td class="text"><div><div><div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >3. EQUITY METHOD INVESTMENT
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</font>In April 2005, we and Exeter Life Sciences, Inc. (Exeter) established Start Licensing, Inc. (Start), a joint venture to manage and license a broad portfolio of intellectual property rights related to animal reproductive technologies. We and Exeter owned 49.9% and 50.1% of Start, respectively. In connection with the establishment of Start, we granted a worldwide, exclusive, non-transferable license to our patent rights to nuclear transfer technology for use in animal cloning, with the right to sublicense such patent rights. Since there was no net book value associated with the patent rights at the execution of the joint venture, no initial value was recognized for our investment in Start. We suspended the equity method of accounting since our proportionate share of net losses in Start exceeded our original carrying value of the investment and we had no commitments to provide financial support or obligations to perform services or other activities for Start.
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</font>In August 2008, we and Exeter entered into Contribution Agreements whereby we and Exeter exchanged our equity interests in Start for equity interests in ViaGen, Inc. (ViaGen). As a result of the exchange, Start became a wholly-owned subsidiary of ViaGen. Ownership of ViaGen immediately following the transaction was as follows: Exeter&#8211; 69%; Geron &#8211; 27%; and Smithfield Foods &#8211; 4%. Since no value had been recorded for our investment in Start, the same zero carrying value was applied to our investment in ViaGen. Geron&#8217;s share of equity method losses from Start that were not recognized during the period the equity method was suspended was carried over to the investment in ViaGen.
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</font>In September 2009, we purchased $3,603,000 in equity from ViaGen and simultaneously Exeter converted its outstanding debt with ViaGen into equity. The new equity purchase did not fund prior ViaGen losses and represented additional financial support to ViaGen. Ownership of ViaGen upon consummation of the transactions was as follows: Exeter &#8211; 70%; Geron &#8211; <font style="font-family:times new roman;" >28%; and Smithfield Foods &#8211; 2%. With the new investment in 2009, we resumed applying the equity method of accounting by increasing (decreasing) the carrying value of our investment by our proportionate share of ViaGen&#8217;s earnings (losses).<br />
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</div><div>&#160;&#160;&#160;&#160; <font style="font-family:times new roman;" >In November 2010, we provided a loan of $1,500,000 to ViaGen to fund its operations. Also in November 2010, we agreed to appoint one of our ViaGen board member representatives as executive chairman of the ViaGen board and purchased $23,000 in ViaGen equity directly from another shareholder, Moral Compass Corporation (MCC, previously referred to as Exeter). As of June 30, 2011, ownership of ViaGen was as follows: MCC &#8211; 58%; Geron &#8211; 40%; and Smithfield Foods &#8211; 2%.
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</font>Since ViaGen does not have sufficient equity to finance its own activities without additional subordinated financial support, it meets the definition of a VIE. By providing financial support to ViaGen, we are a variable interest holder. However, as of June 30, 2011, we lacked the power to direct activities that most significantly impact ViaGen&#8217;s economic performance. Although one of our ViaGen board representatives serves as executive chairman of the ViaGen board, he has no additional rights or obligations to direct ViaGen&#8217;s activities. Control over ViaGen&#8217;s economic performance is driven by the ViaGen management team with authorization and approval from the entire ViaGen board, which is currently comprised of two Geron representatives and two MCC representatives. As the majority holder of the equity and debt of ViaGen, MCC maintains controlling financial interest over the company, including the right to appoint a third board member, giving them majority control of the ViaGen board. Accordingly, we have not included ViaGen&#8217;s financial information with our consolidated results.
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</font>For the three and six months ended June 30, 2011, we recognized $168,000 and $503,000, respectively, for our proportionate share of ViaGen&#8217;s operating losses compared to $496,000 and $892,000 for the comparable 2010 periods. Our share of losses is recorded in the condensed consolidated statements of operations under losses recognized under equity method investment.
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</font>Our maximum exposure to loss pertaining to ViaGen represents the balance sheet carrying amount of our investment in ViaGen which reflects the initial amount of cash invested less our proportionate share of losses over time. The adjusted basis of our investment in ViaGen at June 30, 2011 and December 31, 2010 was zero and $503,000, respectively, which is reflected under investments in licensees on our condensed consolidated balance sheet. We suspended the equity method of accounting during the quarter ended June 30, 2011 since the adjusted basis of our investment was zero at June 30, 2011 and we have no commitments to provide financial support or obligations to perform services or other activities for ViaGen.
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6382943&amp;loc=d3e33918-111571<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 35<br> -Paragraph 32<br> -URI http://asc.fasb.org/extlink&amp;oid=6903645&amp;loc=d3e32787-111569<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher AICPA<br> -Name Accounting Principles Board Opinion (APB)<br> -Number 18<br> -Paragraph 20<br> -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.<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 35<br> -Paragraph 35<br> -URI http://asc.fasb.org/extlink&amp;oid=6903645&amp;loc=d3e32847-111569<br><br></p>
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  <body><span style="display: none;">v2.3.0.11</span><table class="report" border="0" cellspacing="2" id="ID0E2H">
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          <div style="width: 200px;"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES<br></strong></div>
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        <th class="th" colspan="1">6 Months Ended</th>
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          <div>Jun. 30, 2011</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract', window );"><strong>Organization, Consolidation and Presentation of Financial Statements [Abstract]</strong></a></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock', window );">Organization and Summary Of Significant Accounting Policies [Text Block]</a></td>
        <td class="text"><div><div><div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES<br />
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</div><div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Basis of Presentation
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</div><div style="text-align:left;" >&#160;&#160;&#160;&#160;&#160;<font style="font-family:times new roman;" >The terms &#8220;Geron&#8221;, the &#8220;Company&#8221;, &#8220;we&#8221; and &#8220;us&#8221; as used in this report refer to Geron Corporation. The accompanying unaudited condensed consolidated balance sheet as of June 30, 2011 and unaudited condensed consolidated statements of operations for the three and six months ended June 30, 2011 and 2010 have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management of Geron, all adjustments (consisting only of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and six month periods ended June 30, 2011 are not necessarily indicative of the results that may be expected for the year ending December 31, 2011 or any other period. These financial statements and notes should be read in conjunction with the financial statements for each of the three years ended December 31, 2010, included in the Company&#8217;s Annual Report on Form 10-K. The accompanying condensed consolidated balance sheet as of December 31, 2010 has been derived from audited financial statements at that date.
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</div><div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Principles of Consolidation
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</font>The condensed consolidated financial statements include the accounts of Geron, our wholly-owned subsidiary, Geron Bio-Med Ltd. (Geron Bio-Med), a United Kingdom company, and our majority-owned subsidiary, TA Therapeutics, Ltd. (TAT), a Hong Kong company. We have eliminated intercompany accounts and transactions. We prepare the financial statements of Geron Bio-Med using the local currency as the functional currency. We translate the assets and liabilities of Geron Bio-Med at rates of exchange at the balance sheet date and translate income and expense items at average monthly rates of exchange. The resultant translation adjustments are included in accumulated other comprehensive income (loss), a separate component of stockholders&#8217; equity. The functional currency for TAT is U.S. dollars. In July 2010, the board of directors and shareholders of TAT approved actions to commence a voluntary winding up of the company. The full wind up of TAT was completed in March 2011.
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</font>We evaluate whether significant transactions require consideration of the variable interest consolidation model. For those entities in which we have a variable interest, we consider whether we are the primary beneficiary. Variable interest entities (VIEs) for which we are the primary beneficiary are required to be consolidated. We currently are not the primary beneficiary of any VIE. See Note 3 on Equity Method Investment.
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</font>Basic earnings (loss) per share is calculated based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share is calculated based on the weighted average number of shares of common stock and dilutive securities outstanding during the period. Potential dilutive securities primarily consist of outstanding employee stock options, restricted stock and warrants to purchase common stock and are determined using the treasury stock method at an average market price during the period.
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</font>Because we are in a net loss position, diluted earnings (loss) per share excludes the effects of potential dilutive securities. Had we been in a net income position, diluted earnings per share would have included the shares used in the computation of basic net loss per share as well as an additional 995,044 and 1,182,957 shares for 2011 and 2010, respectively, related to outstanding options, restricted stock and warrants (as determined using the treasury stock method at the estimated average market value).
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</font>The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. On a regular basis, management evaluates these estimates and assumptions. Actual results could differ from those estimates.<br />
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</div><div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-style:italic;display:inline;" ><font style="font-family:times new roman;" >Cash Equivalents and Marketable Securities
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 style="text-align:left;" >&#160;&#160;&#160;&#160; <font style="font-family:times new roman;" >We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents. We are subject to credit risk related to our cash equivalents and marketable securities. We currently place our cash and cash equivalents in money market funds and municipal securities. Our investments include U.S. government-sponsored enterprise securities, certificates of deposit, commercial paper and corporate notes with original maturities ranging from six to 24 months.
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</font>We classify our marketable securities as available-for-sale. We record available-for-sale securities at fair value with unrealized gains and losses reported in accumulated other comprehensive income (loss) in stockholders&#8217; equity. Realized gains and losses are included in interest and other income and are derived using the specific identification method for determining the cost of securities sold and have been insignificant to date. Dividend and interest income are recognized when earned and included in interest and other income in our condensed consolidated statements of operations. We recognize a charge when the declines in the fair values below the amortized cost basis of our available-for-sale securities are judged to be other-than-temporary. We consider various factors in determining whether to recognize an other-than-temporary charge, including whether we intend to sell the security or whether it is more likely than not that we would be required to sell the security. Declines in market value associated with credit losses judged as other-than-temporary result in a charge to interest and other income. Other-than-temporary charges not related to credit losses are included in accumulated other comprehensive income (loss) in stockholders&#8217; equity. No other-than-temporary impairment charges were recorded for our available-for-sale securities for the three and six months ended June 30, 2011 and 2010. See Note 2 on Fair Value Measurements.
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</font>Investments in non-marketable nonpublic companies, in which we own less than 20% of the outstanding voting stock and do not otherwise have the ability to exert significant influence over the investees, are carried at cost, as adjusted for other-than-temporary impairments. Investments in marketable equity securities are carried at fair value as of the balance sheet date with unrealized gains and losses reported in accumulated other comprehensive income (loss) in stockholders&#8217; equity. Realized gains or losses are included in interest and other income and are derived using the specific identification method.
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</font>We apply the equity method of accounting for investments in licensees in which we own more than 20% of the outstanding voting stock or otherwise have the ability to exert significant influence over the investees, but are not the primary beneficiary. Under this method, we increase (decrease) the carrying value of our investment by a proportionate share of the investee&#8217;s earnings (losses). If losses exceed the carrying value of the investment, losses are then applied against any advances to the investee, including any commitment to provide financial support, until those amounts are reduced to zero. Commitments include formal guarantees, implicit arrangements, reputational expectations, intercompany relationships or a consistent past history of providing financial support. The equity method is then suspended until the investee has earnings. Any proportionate share of investee earnings is first applied to the share of accumulated losses not recognized during the period the equity method was suspended. We recognize previously suspended losses to the extent additional investment is determined to represent the funding of prior losses.
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</font>We monitor our investments in licensees for impairment on a quarterly basis and make appropriate reductions in carrying values when such impairments are determined to be other-than-temporary. Other-than-temporary charges are included in interest and other income. Factors used in determining whether an other-than-temporary charge should be recognized include, but are not limited to: the current business environment including competition and uncertainty of financial condition; going concern considerations such as the rate at which the investee company utilizes cash, and the investee company&#8217;s ability to obtain additional private financing to fulfill its stated business plan; the need for changes to the investee company&#8217;s existing business model due to changing business environments and its ability to successfully implement necessary changes; and the general progress toward product development, including clinical trial results. See Note 2 on Fair Value Measurements.<br />
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</div><div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-style:italic;display:inline;" ><font style="font-family:times new roman;" >Fair Value of Derivatives
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</div><div style="text-align:left;" >&#160;&#160;&#160;&#160; <font style="font-family:times new roman;" >For warrants and non-employee options classified as assets or liabilities, the fair value of these instruments is recorded on the condensed consolidated balance sheet at inception of such classification and adjusted to fair value at each financial reporting date. The change in fair value of the warrants and non-employee options is recorded in the condensed consolidated statements of operations as unrealized gain (loss) on derivatives. Fair value of warrants and non-employee options is estimated using the Black Scholes option-pricing model. The warrants and non-employee options continue to be reported as an asset or liability until such time as the instruments are exercised or expire or are
 otherwise modified to remove the provisions which require this treatment, at which time these instruments are marked to fair value and reclassified from assets or liabilities to stockholders&#8217; equity. For warrants and non-employee options classified as permanent equity, the fair value of the warrants and non-employee options is recorded in stockholders&#8217; equity as of their respective vesting dates and no further adjustments are made. See Note 2 on Fair Value Measurements.
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</div><div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Revenue Recognition
</font>
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;
</font>We have several license agreements with various oncology, diagnostics, research tools, agriculture and biologics production companies. With certain of these agreements, we receive nonrefundable license payments in cash or equity securities, option payments in cash or equity securities, royalties on future sales of products, milestone payments, or any combination of these items. Upfront nonrefundable signing, license or non-exclusive option fees are recognized as revenue when rights to use the intellectual property related to the license have been delivered and over the term of the agreement if we have continuing performance obligations. Milestone payments, which are subject to substantive contingencies, are recognized upon completion of specified milestones, representing the culmination of the earnings process, according to contract terms. Royalties are generally recognized upon receipt of the related royalty payment. Deferred revenue represents the portion of research and license payments received which has not been earned. When payments are received in equity securities, we do not recognize any revenue unless such securities are determined to be realizable in cash.
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;
</font>We recognize revenue under collaborative agreements as the related research and development costs for services are rendered. We recognize related party revenue under collaborative agreements as the related research and development costs for services are rendered and when the source of funds have not been derived from our contributions to the related party.
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Restricted Cash
</font>
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;
</font>The components of restricted cash are as follows:
</font>
</div><div>
</div><div><table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" ><tr valign="bottom" ><td width="88%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >June 30,
</font>
</font>
</td><td width="4%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >December 31,
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="88%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >2011
</font>
</font>
</td><td width="4%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >2010
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="88%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="12%" colspan="5" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >(In thousands)
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="88%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Certificate of deposit for unused equipment line of credit
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >530
</font>
</td><td width="4%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >530
</font>
</td>
</tr><tr valign="bottom" ><td width="88%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >Certificate of deposit for credit card purchases
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" ><font style="font-family:times new roman;" >263
</font>
</td><td width="4%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" ><font style="font-family:times new roman;" >262
</font>
</td>
</tr><tr valign="bottom" ><td width="88%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >793
</font>
</td><td width="4%" nowrap="nowrap"
 style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >792
</font>
</td>
</tr><tr><td width="88%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="4%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td>
</tr>
</table>
</div><br />
<br />
<br />
<div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Research and Development Expenses
</font>
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;
</font>All research and development costs are expensed as incurred. The value of acquired in-process research and development is charged to research and development expense on the date of acquisition, if not acquired in connection with a business combination. Research and development expenses include, but are not limited to, acquired in-process research and development deemed to have no alternative future use, payroll and personnel expense, lab supplies, preclinical studies, clinical trials, raw materials to manufacture clinical trial drugs, manufacturing costs for research and clinical trial materials, sponsored research at other labs, consulting, costs to maintain technology licenses and research-related overhead.<br />
<br />
<br />
</font>
</div><div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Depreciation and Amortization
</font>
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>We record property and equipment at cost and calculate depreciation using the straight-line method over the estimated useful lives of the assets, generally four years. Leasehold improvements are amortized over the shorter of the estimated useful life or remaining term of the lease.
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Stock-Based Compensation
</font>
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>We recognize compensation expense on a straight-line basis over the requisite service period, which is generally the vesting period. The following table summarizes the stock-based compensation expense related to stock options, restricted stock awards and employee stock purchases for the three and six months ended June 30, 2011 and 2010, which was allocated as follows:
</font>
</div><div><br />
<br />
</div><div><table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" ><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="9%" colspan="5" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Three Months Ended
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="9%" colspan="5" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Six Months Ended
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="9%" colspan="5" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >June 30,
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="9%" colspan="5" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >June 30,
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >2011
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >2010
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >2011
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >2010
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="19%" colspan="11" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >(In thousands)
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Research and development
</font>
</td><td width="1%" nowrap="nowrap"
 style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >1,604
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >1,096
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >3,264
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >2,743
</font>
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >General and administrative
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" ><font style="font-family:times new roman;" >2,243
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" ><font style="font-family:times new roman;" >1,955
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" ><font style="font-family:times new roman;" >6,902
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" ><font style="font-family:times new roman;" >3,377
</font>
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Stock-based compensation expense included in
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;operating expenses
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >3,847
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >3,051
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >10,166
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >6,120
</font>
</td>
</tr><tr><td width="80%" nowrap="nowrap" style="text-align:left;" >&#160;<br />
<br />
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;"
 >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td>
</tr>
</table>
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>In February 2011, we and Thomas B. Okarma, Ph.D., M.D. entered into a separation agreement that provided for, among other things, the modification of the vesting and exercise periods of certain outstanding restricted stock awards and stock options held by Dr. Okarma. Non-cash stock-based compensation expense of approximately $3,472,000 has been included in general and administrative expense for the modifications.
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>As stock-based compensation expense recognized in the condensed consolidated statements of operations for the three and six months ended June 30, 2011 and 2010 is based on awards ultimately expected to vest, it has been reduced for estimated forfeitures but, at a minimum, reflects the grant-date fair value of those awards that actually vested in the period. Forfeitures have been estimated at the time of grant based on historical experience and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates.
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-style:italic;display:inline;" ><font style="font-family:times new roman;" >Stock Options
</font>
</font>
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>The fair value of options granted during the six months ended June 30, 2011 and 2010 has been estimated at the date of grant using the Black Scholes option-pricing model with the following assumptions:
</font>
</div><div><br />
<br />
</div><div><table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" ><tr valign="bottom" ><td width="91%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="7%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Six Months Ended June 30,
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="91%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >2011
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >2010
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="91%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Dividend yield
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >None
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >None
</font>
</td>
</tr><tr valign="bottom" ><td width="91%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >Expected volatility range
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" ><font style="font-family:times new roman;" >0.629 to 0.630
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" ><font style="font-family:times new roman;" >0.627 to 0.629
</font>
</td>
</tr><tr valign="bottom" ><td width="91%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Risk-free interest rate range
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >1.55% to 2.37%
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >2.13% to 2.65%
</font>
</td>
</tr><tr valign="bottom" ><td width="91%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >Expected term
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" ><font style="font-family:times new roman;" >5 yrs
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" ><font style="font-family:times new roman;" >5 yrs
</font>
</td>
</tr>
</table>
</div><div style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" ><br />
<br />
</font>
</font>
</div><div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-style:italic;display:inline;" ><font style="font-family:times new roman;" >Employee Stock Purchase Plan
</font>
</font>
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>The fair value of
 employees&#8217; purchase rights during the six months ended June 30, 2011 and 2010 has been estimated using the Black Scholes option-pricing model with the following assumptions:
</font>
</div><div><br />
<br />
</div><div><table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" ><tr valign="bottom" ><td width="91%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="7%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Six Months Ended June 30,
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="91%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >2011
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >2010
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="91%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Dividend yield
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >None
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >None
</font>
</td>
</tr><tr valign="bottom" ><td width="91%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >Expected volatility range
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" ><font style="font-family:times new roman;" >0.529 to 0.584
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" ><font style="font-family:times new roman;" >0.592 to 0.995
</font>
</td>
</tr><tr valign="bottom" ><td width="91%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Risk-free interest rate range
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >0.19% to 0.32%
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >0.18% to 0.54%
</font>
</td>
</tr><tr valign="bottom" ><td width="91%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >Expected term range
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" ><font style="font-family:times new roman;" >6 - 12 mos
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" ><font style="font-family:times new roman;" >6 - 12 mos
</font>
</td>
</tr>
</table>
</div><br />
<br />
<br />
<div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>Dividend yield is based on historical cash dividend payments and Geron has paid no dividends to date. The expected volatility range is based on historical volatilities of our stock since traded options on Geron stock do not correspond to option terms and the trading volume of options is limited. The risk-free interest rate range is based on the U.S. Zero Coupon Treasury Strip Yields for the expected term in effect on the date of grant for an award. The expected term of options is derived from actual historical exercise data and represents the period of time that options granted are expected to be outstanding. The expected term of employees&#8217; purchase rights is equal to the purchase period. We grant service-based options under our equity plans to employees, non-employee directors and consultants, for which the vesting period is generally four years.
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-style:italic;display:inline;" ><font style="font-family:times new roman;" >Restricted Stock Awards
</font>
</font>
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>We grant restricted stock awards to employees and non-employee directors with three types of vesting schedules: (i) service-based, (ii) performance-based or (iii) market-based. Service-based awards generally vest annually over four years. Performance-based awards vest only upon achievement of discrete strategic corporate goals within a specified performance period, generally three years. Market-based awards vest only upon achievement of certain market price thresholds of our common stock within a specified performance period, generally three years.
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>The fair value for service-based restricted stock awards is determined using the fair value of our common stock on the date of grant. The fair value is amortized as compensation expense over the requisite service period of the award on a straight-line basis and is reduced for estimated forfeitures, as applicable.
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>The fair value for performance-based restricted stock awards is determined using the fair value of our common stock on the date of grant. Compensation expense
 for awards with performance conditions is recognized over the period from the date the performance condition is determined to be probable of occurring through the date the applicable condition is expected to be met and is reduced for estimated forfeitures, as applicable. If the performance condition is not considered probable of being achieved, no expense is recognized until such time as the performance condition is considered probable of being met, if ever. If performance-based restricted stock awards are modified such that no continuing service is required for the award to vest and achievement of the performance condition is not considered probable on the date of modification, then no compensation cost is recognized until it becomes probable that the performance condition will be met. If that assessment of the probability of the performance condition being met changes, the impact of the change in estimate would be recognized in the period of the change. If the requisite service has been provided prior to the change in estimate, the effect of the change in estimate would be immediately recognized. We have not recognized any stock-based compensation expense for performance-based restricted stock awards in our condensed consolidated statement of operations for the three and six months ended June 30, 2011 and 2010 as the achievement of the specified performance criteria was not considered probable during that time.
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>The fair value for market-based restricted stock awards is determined using a lattice valuation model with a Monte Carlo simulation. The model takes into consideration the historical volatility of our stock and the risk-free interest rate at the date of grant. In addition, the model is used to estimate the derived service period for the awards. The derived service period is the estimated period of time that would be required to satisfy the market condition, assuming the market condition will be satisfied. Compensation expense is recognized over the derived service period for the awards using the straight-line method and is reduced for estimated forfeitures, as applicable, but is accelerated if the market condition is achieved earlier than estimated. The market conditions for the market-based restricted stock awards were not achieved as of June 30, 2011.<br />
<br />
</font>
</div><div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-style:italic;display:inline;" ><font style="font-family:times new roman;" >Non-Employee Stock-Based Awards
</font>
</font>
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>For our non-employee stock-based awards, the measurement date on which the fair value of the stock-based award is calculated is equal to the earlier of (i) the date at which a commitment for performance by the counterparty to earn the equity instrument is reached or (ii) the date at which the counterparty&#8217;s performance is complete. We recognize stock-based compensation expense for the fair value of the vested portion of non-employee awards in our condensed consolidated statements of operations.
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Comprehensive Loss
</font>
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>Comprehensive loss is comprised of net loss and other comprehensive income (loss). Other comprehensive income (loss) includes certain changes in stockholders&#8217; equity which are excluded from net loss. The activity in comprehensive loss during the three and six months ended June 30, 2011 and 2010 was as follows:
</font>
</div><div><br />
<br />
</div><div><table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" ><tr valign="bottom" ><td width="76%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="11%" colspan="7" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Three Months Ended
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="11%" colspan="7" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Six Months Ended
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="76%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="11%" colspan="7" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >June 30,
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="11%" colspan="7" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >June 30,
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="76%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >2011
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >2010
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >2011
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font
 style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >2010
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="76%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="23%" colspan="15" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >(In thousands)
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="76%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Net loss
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >(21,088
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >(17,031
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >(45,477
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >(33,671
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >)
</font>
</td>
</tr><tr valign="bottom" ><td width="76%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >Change in net unrealized gain on available-for-sale
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="76%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;securities and marketable investments in licensees
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >97
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >5
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >42
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >138
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="76%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Change in foreign currency translation adjustments
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%"
 nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >12
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >(3
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >)
</font>
</td>
</tr><tr valign="bottom" ><td width="76%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" ><font style="font-family:times new roman;" >Comprehensive loss
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >(20,991
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >(17,026
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >(45,423
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >(33,536
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td>
</tr><tr><td width="76%" nowrap="nowrap" style="text-align:left;" >&#160;<br />
<br />
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td>
</tr>
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</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>The components of accumulated other comprehensive loss were as follows:
</font>
</div><div>
</div><div><table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" ><tr valign="bottom" ><td width="88%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >June 30, 2011
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >December 31, 2010
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="88%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="11%" colspan="7" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >(In thousands)
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="88%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Unrealized gain on available-for-sale securities and
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%"
 nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="88%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;marketable investments in licensees, net
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >114
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >72
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="88%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >Foreign currency translation adjustments
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" ><font style="font-family:times new roman;" >(156
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" ><font style="font-family:times new roman;" >(168
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td>
</tr><tr valign="bottom" style="background-color:#c0c0c0;" ><td width="88%" nowrap="nowrap" style="border-bottom:#c0c0c0 2pt solid;text-align:left;" ><font style="font-family:times new roman;" >Accumulated other comprehensive loss
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:silver 2pt solid;text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >(42
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:#c0c0c0 2pt solid;text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:silver 2pt solid;text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >(96
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:#c0c0c0 2pt solid;text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td>
</tr><tr style="background-color:#ffffff;" ><td width="88%" nowrap="nowrap" style="text-align:left;" >&#160;<br />
<br />
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
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</div><div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Recently Issued Accounting Standards
</font>
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>In May 2011, the Financial Accounting Standards Board (FASB) issued a new accounting standard on fair value measurements that clarifies the application of existing guidance and disclosure requirements, changes certain fair value measurement principles and requires additional disclosures about fair value measurements that are estimated using significant unobservable (Level 3) inputs. This new guidance is to be applied prospectively. We are required to adopt this standard in January 2012. We do not expect that this adoption will have a material impact on our financial statements.
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>In June 2011, the FASB issued a new accounting standard on the presentation of comprehensive income. The new standard requires the presentation of comprehensive income, the components of net income and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. The new standard also requires presentation of adjustments for items that are reclassified from other comprehensive income to net income in the statement where the components of net income and the components of other comprehensive income are presented. We are required to adopt this standard in January 2012 and apply it retrospectively. The adoption of this standard is only expected to impact the presentation of our financial statements and not the results of operations or financial position of the Company.
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  <body><span style="display: none;">v2.3.0.11</span><table class="report" border="0" cellspacing="2" id="ID0E2H">
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          <div style="width: 200px;"><strong>COLLABORATIVE AGREEMENT<br></strong></div>
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        <td class="text"><div><div><div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >4. COLLABORATIVE AGREEMENT
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</font>In June 2009, we entered into a worldwide exclusive license and alliance agreement with GE Healthcare UK, Limited (GEHC) to develop and commercialize cellular assay products derived from human embryonic stem cells (hESCs) for use in drug discovery, development and toxicity screening. Under the terms of the agreement, GEHC has been granted an exclusive license under Geron&#8217;s intellectual property portfolio covering the growth and differentiation of hESCs, as well as a sublicense under Geron&#8217;s rights to the hESC patents held by the Wisconsin Alumni Research Foundation. We established a multi-year alliance program with GEHC under which scientists from both companies worked to develop hESC-based products for drug discovery. The first product developed under the alliance, human cardiomyocytes derived from hESCs, was launched in October 2010 by GEHC.
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</font>In connection with the agreement, we received upfront non-refundable license payments under the exclusive license and sublicense and can receive milestone payments upon achievement of certain commercial development and product sales events and royalties on future product sales. Under the alliance program, GEHC was responsible for all costs incurred by GEHC and all costs incurred by us for activities undertaken at Geron, including the funding of our scientists who worked on the alliance program. An Alliance Steering Committee, with representatives from each company, coordinated and managed the alliance program.
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</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;
</font>License payments under the GEHC agreement were recorded as deferred revenue upon receipt and were recognized ratably as revenue over the alliance program period as a result of our continuing involvement with the collaboration. Funding received for our efforts under the alliance program was recognized as revenue as costs were incurred, which reflected our level of effort over the period of the alliance program. Since the milestone payments are subject to substantive contingencies,
</font><font style="font-family:times new roman;" >any such payments will be recognized upon completion of the specified milestones. Royalties received under the agreement will generally be recognized as revenue upon receipt of the related royalty payment. For the three and six months ended June 30, 2011, we recognized $150,000 and $300,000, respectively, as revenue from collaborative agreements compared to $225,000 and $450,000 for the comparable 2010 periods. For the three and six months ended June 30, 2011and 2010, we recognized $175,000 and $350,000, respectively, as license fee revenue in connection with this agreement.
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</div><div><div style="text-align:left;" >&#160;&#160;&#160;&#160; <font style="font-family:times new roman;" >Our executive management team represents our chief decision maker. To date, we have viewed our operations as one segment, the discovery and development of therapeutic and diagnostic products for oncology and human embryonic stem cell therapies. As a result, the financial information disclosed herein materially represents all of the financial information related to our principal operating segment.
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                <p>The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.</p>
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                <p>The entire disclosure for supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p>
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<DOCUMENT>
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<SEQUENCE>24
<FILENAME>R5.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
﻿<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=utf-8">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.3.0.11</span><table class="report" border="0" cellspacing="2" id="ID0EDNAG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS CHANGE IN CASH AND CASH EQUIVALENTS (USD $)<br>In Thousands</strong></div>
        </th>
        <th class="th" colspan="2">6 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Jun. 30, 2011</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2010</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Cash flows from operating activities:</strong></a></td>
        <td class="text"> <span></span></td>
        <td class="text"> <span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
        <td class="num">$ (45,477)<span></span></td>
        <td class="num">$ (33,671)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net loss to net cash used in operating activities:</strong></a></td>
        <td class="text"> <span></span></td>
        <td class="text"> <span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationNonproduction', window );">Depreciation and amortization</a></td>
        <td class="nump">834<span></span></td>
        <td class="nump">804<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments', window );">Accretion and amortization on investments, net</a></td>
        <td class="nump">2,431<span></span></td>
        <td class="nump">1,814<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment', window );">Loss on retirement/sale of property and equipment</a></td>
        <td class="nump">0<span></span></td>
        <td class="nump">53<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gern_ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOffNonCash', window );">Issuance of common stock for acquired in-process research and development</a></td>
        <td class="nump">594<span></span></td>
        <td class="nump">0<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gern_IssuanceOfStockAndOptionsServices', window );">Issuance of common stock in exchange for services by non-employees</a></td>
        <td class="nump">396<span></span></td>
        <td class="nump">2,193<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Stock-based compensation for employees and directors</a></td>
        <td class="nump">10,166<span></span></td>
        <td class="nump">6,120<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gern_AmortizationRelatedToShareBasedMatchingContributions', window );">Amortization related to 401(k) contributions</a></td>
        <td class="nump">452<span></span></td>
        <td class="nump">352<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">Loss on investments in licensees</a></td>
        <td class="nump">503<span></span></td>
        <td class="nump">892<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gern_UnrealizedGainLossOnFairvalueOfDerivativeLiabilities', window );">Unrealized gain on fair value of derivatives</a></td>
        <td class="num">(279)<span></span></td>
        <td class="num">(230)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract', window );"><strong>Changes in assets and liabilities:</strong></a></td>
        <td class="text"> <span></span></td>
        <td class="text"> <span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherOperatingAssets', window );">Other current and noncurrent assets</a></td>
        <td class="nump">3,245<span></span></td>
        <td class="nump">2,203<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities', window );">Other current and noncurrent liabilities</a></td>
        <td class="nump">371<span></span></td>
        <td class="nump">302<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CumulativeTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease', window );">Translation adjustment</a></td>
        <td class="nump">12<span></span></td>
        <td class="num">(3)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash used in operating activities</a></td>
        <td class="num">(26,752)<span></span></td>
        <td class="num">(19,171)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Cash flows from investing activities:</strong></a></td>
        <td class="text"> <span></span></td>
        <td class="text"> <span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInRestrictedCash', window );">Restricted cash transfer</a></td>
        <td class="num">(1)<span></span></td>
        <td class="num">(1)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Purchases of property and equipment</a></td>
        <td class="num">(260)<span></span></td>
        <td class="num">(420)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment', window );">Proceeds from sale of property and equipment</a></td>
        <td class="nump">0<span></span></td>
        <td class="nump">2<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireAvailableForSaleSecurities', window );">Purchases of marketable securities</a></td>
        <td class="num">(70,765)<span></span></td>
        <td class="num">(58,826)<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities', window );">Proceeds from maturities of marketable securities</a></td>
        <td class="nump">83,537<span></span></td>
        <td class="nump">70,940<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net cash provided by investing activities</a></td>
        <td class="nump">12,511<span></span></td>
        <td class="nump">11,695<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities:</strong></a></td>
        <td class="text"> <span></span></td>
        <td class="text"> <span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfCommonStock', window );">Proceeds from issuances of common stock and warrants, net of issuance costs</a></td>
        <td class="nump">288<span></span></td>
        <td class="nump">10,190<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net cash provided by financing activities</a></td>
        <td class="nump">288<span></span></td>
        <td class="nump">10,190<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net (decrease) increase in cash and cash equivalents</a></td>
        <td class="num">(13,953)<span></span></td>
        <td class="nump">2,714<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at the beginning of the period</a></td>
        <td class="nump">45,972<span></span></td>
        <td class="nump">34,601<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at the end of the period</a></td>
        <td class="nump">$ 32,019<span></span></td>
        <td class="nump">$ 37,315<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gern_AmortizationRelatedToShareBasedMatchingContributions">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of noncash employee related expense charged against earnings during the reporting period for the vested portion of employer matching contributions in common stock under a defined-contribution savings plan under Section 401(k) of the Internal Revenue Code. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>gern_AmortizationRelatedToShareBasedMatchingContributions</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>gern</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gern_IssuanceOfStockAndOptionsServices">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The value of common stock, restricted stock or stock options issued or granted for services rendered by non-employees. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>gern_IssuanceOfStockAndOptionsServices</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>gern</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gern_ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOffNonCash">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The noncash amount of the write-off for research and development assets that were acquired in a transaction other than a business combination.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>gern_ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOffNonCash</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>gern</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gern_UnrealizedGainLossOnFairvalueOfDerivativeLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net change during the reporting period in the fair value measurement, or in the comparative fair values, of all warrants and non-employee options classified as derivative liabilities. The net change in the fair values from one financial reporting period to the next is recorded as unrealized gain (loss) on derivatives.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>gern_UnrealizedGainLossOnFairvalueOfDerivativeLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>gern</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The sum of the periodic adjustments of the differences between securities' face values and purchase prices that are charged against earnings. This is called accretion if the security was purchased at a discount and amortization if it was purchased at premium. As a noncash item, this element is an adjustment to net income when calculating cash provided by or used in operations using the indirect method.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 28<br> -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.<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 1<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 7<br> -Footnote 1<br> -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.<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3044-108585<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 8, 9<br> -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.<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 7, 26<br> -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.<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsAtCarryingValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in cash and cash equivalents. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 26<br> -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.<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CumulativeTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) in cumulative translation adjustment before transfers included in determining net income.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 130<br> -Paragraph 23, 24, 25, 26<br> -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.<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 30<br> -Section 45<br> -Paragraph 20<br> -Subparagraph (b),(c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6915805&amp;loc=d3e32211-110900<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CumulativeTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationNonproduction">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The expense recognized in the current period that allocates the cost of nonproduction tangible assets over their useful lives.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 28<br> -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.<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher AICPA<br> -Name Accounting Principles Board Opinion (APB)<br> -Number 12<br> -Paragraph 5<br> -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.<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DepreciationNonproduction</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The difference between the sale price or salvage price and the book value of a property, plant, and equipment asset that was sold or retired during the reporting period. This element refers to the gain (loss).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 28<br> -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.<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GainLossOnSaleOfPropertyPlantEquipment</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromEquityMethodInvestments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6382870&amp;loc=d3e33749-111570<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher AICPA<br> -Name Accounting Principles Board Opinion (APB)<br> -Number 18<br> -Paragraph 19<br> -Subparagraph c<br> -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.<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher AICPA<br> -Name Accounting Principles Board Opinion (APB)<br> -Number 18<br> -Paragraph 6<br> -Subparagraph b<br> -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.<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 28<br> -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.<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 11<br> -Article 7<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Article 5<br> -Section 03<br> -Paragraph 9<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromEquityMethodInvestments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 28<br> -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.<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in other liabilities used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current liabilities, other noncurrent liabilities, or a combination of other current and noncurrent liabilities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 28<br> -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.<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3213-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 15, 16, 17<br> -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.<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3179-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash inflow or outflow from financing activity for the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 26<br> -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.<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3574-108585<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash inflow or outflow from investing activity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 26<br> -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.<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3574-108585<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInInvestingActivities</nobr></td>
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                    <td><strong> Data Type:</strong></td>
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                    <td><strong> Balance Type:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3536-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 28<br> -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.<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 26<br> -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.<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                <table border="0" cellpadding="0" cellspacing="0">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher AICPA<br> -Name Accounting Research Bulletin (ARB)<br> -Number 51<br> -Paragraph 38<br> -Subparagraph a<br> -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.<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e565-108580<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher AICPA<br> -Name Accounting Research Bulletin (ARB)<br> -Number 51<br> -Paragraph A7<br> -Appendix A<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 130<br> -Paragraph 10, 15<br> -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.<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher AICPA<br> -Name Accounting Research Bulletin (ARB)<br> -Number 51<br> -Paragraph 38<br> -Subparagraph d<br> -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.<br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Emerging Issues Task Force (EITF)<br> -Number 87-21<br> -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.<br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Article 5<br> -Section 03<br> -Paragraph 19<br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 28, 29, 30<br> -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.<br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireAvailableForSaleSecurities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow to acquire debt and equity securities not classified as either held-to-maturity securities or trading securities which would be classified as available-for-sale securities and reported at fair value, with unrealized gains and losses excluded from earnings and reported in a separate component of shareholders' equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 17<br> -Subparagraph a<br> -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.<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 15<br> -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.<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3213-108585<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 17<br> -Subparagraph b<br> -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.<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 115<br> -Paragraph 18<br> -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.<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=6871852&amp;loc=d3e26853-111562<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsToAcquireAvailableForSaleSecurities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3213-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 15<br> -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.<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 17<br> -Subparagraph c<br> -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.<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfCommonStock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow from the additional capital contribution to the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3255-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 18<br> -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.<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 19<br> -Subparagraph a<br> -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.<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromIssuanceOfCommonStock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow associated with maturities (principal being due), prepayments and calls (requests of early payments) on securities not classified as either held-to-maturity securities or trading securities which are classified as available-for-sale securities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 16<br> -Subparagraph a<br> -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.<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 15<br> -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.<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=6871852&amp;loc=d3e26853-111562<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 16<br> -Subparagraph b<br> -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.<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher OTS<br> -Name Federal Regulation (FR)<br> -Number Title 12<br> -Chapter V<br> -Section 563c.102<br> -Subsection III<br> -LegacyDoc This is a non-GAAP reference that was included in the 2009 taxonomy.  It will be removed from future versions of this taxonomy.<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3179-108585<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3179-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 15<br> -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.<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 16<br> -Subparagraph c<br> -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.<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 28<br> -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.<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensation</nobr></td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td>duration</td>
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  <body><span style="display: none;">v2.3.0.11</span><table class="report" border="0" cellspacing="2" id="ID0E2H">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>FAIR VALUE MEASUREMENTS<br></strong></div>
        </th>
        <th class="th" colspan="1">6 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Jun. 30, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresAbstract', window );"><strong>Fair Value Disclosures [Abstract]</strong></a></td>
        <td class="text"> <span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresTextBlock', window );">Fair Value Disclosures [Text Block]</a></td>
        <td class="text"><div><div><div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >2. FAIR VALUE MEASUREMENTS
</font>
</font><font style="font-family:times new roman;" >
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>We categorize assets and liabilities recorded at fair value on our condensed consolidated balance sheet based upon the level of judgment associated with inputs used to measure their fair value. The categories are as follows:
</font>
</div><div><br />
<br />
</div><div style="padding-left:15pt;width:100%;" ><div style="text-align:left;" ><font style="font-family:times new roman;" >Level 1 &#8211; Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. An active market for the asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" >Level 2 &#8211; Inputs (other than quoted market prices included in Level 1) are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the instrument&#8217;s anticipated life.
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" >Level 3 &#8211; Inputs reflect management&#8217;s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model.<br />
<br />
</font>
</div>
</div><div><br />
</div><div><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>A financial instrument&#8217;s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Following is a description of the valuation methodologies used for instruments measured at fair value on our condensed consolidated balance sheet, including the category for such instruments.
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Cash Equivalents and Marketable Securities Available-for-Sale
</font>
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>Where quoted prices are available in an active market, securities are categorized as Level 1. Examples of such Level 1 securities include certificates of deposit and money market funds. If quoted market prices are not available for the specific security, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics or discounted cash flows. Examples of such Level 2 instruments include U.S. Treasury securities, U.S. government-sponsored enterprise securities, municipal securities, corporate notes, asset-backed securities and commercial paper.
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font>&#160;&#160;&#160;&#160;&#160;
</font>Marketable securities by security type at June 30, 2011 were as follows:
</font>
</div><div><br />
<br />
</div><div><table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" ><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Gross
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Gross
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" >&#160;
</td>
</tr><tr><td width="79%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Unrealized
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Unrealized
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Estimated
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Cost
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Gains
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;"
 ><font style="font-family:times new roman;" >Losses
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Fair Value
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="20%" colspan="12" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >(In thousands)
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Included in cash and cash equivalents:
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;Money market funds
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >9,403
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >9,403
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;Municipal securities (due in less than 1 year)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >20,270
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >20,270
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:white 2pt solid;text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >29,673
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times
 new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:white 2pt solid;text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >29,673
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Restricted cash:
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;Certificates of deposit
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:white 2pt solid;text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >793
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:white 2pt solid;text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >793
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Marketable securities:
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;Certificate of deposit (due in less than 1 year)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >338
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap"
 style="text-align:right;" ><font style="font-family:times new roman;" >338
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;Government-sponsored enterprise securities (due in
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;less than 1 year)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >8,180
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >3
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >(2
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >8,181
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;Government-sponsored enterprise securities (due in
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1 to 2 years)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >16,540
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >47
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >(1
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >16,586
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;Commercial paper (due in less than 1 year)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >10,846
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >4
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td
 width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >10,850
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;Corporate notes (due in less than 1 year)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >100,353
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >65
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >(31
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >100,387
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;Corporate notes (due in 1 to 2 years)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >22,978
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >32
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >(4
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >23,006
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;Investments in licensees
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" ><font style="font-family:times new roman;" >1
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" ><font style="font-family:times new roman;" >1
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" ><font style="font-family:times new roman;" >2
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="border-bottom:#c0c0c0 2pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:silver 2pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >159,236
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:silver 2pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >152
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:silver 2pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" ><font
 style="font-family:times new roman;" >(38
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:#c0c0c0 2pt solid;text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:silver 2pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >159,350
</font>
</td>
</tr><tr><td width="79%" nowrap="nowrap" style="text-align:left;" >&#160;<br />
<br />
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td>
</tr>
</table>
</div><div>
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font>&#160;&#160;&#160;&#160;&#160;
</font>Marketable securities by security type at December 31, 2010 were as follows:
</font>
</div><div><br />
<br />
</div><div><table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" ><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Gross
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Gross
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Unrealized
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Unrealized
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Estimated
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Cost
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Gains
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Losses
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Fair Value
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="20%" colspan="12" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >(In thousands)
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Included in cash and cash equivalents:
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;"
 >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;Money market funds
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >21,076
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >21,076
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;Municipal securities (due in less than 1 year)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >18,450
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >18,450
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;Commercial paper (due in less than 1 year)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >3,499
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >3,499
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;Corporate notes (due in less than 1 year)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >1,856
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >(1
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap"
 style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >1,855
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:white 2pt solid;text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >44,881
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >(1
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:white 2pt solid;text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >44,880
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Restricted cash:
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;Certificates of deposit
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:white 2pt solid;text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >792
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:white 2pt solid;text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >792
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Marketable securities:
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap"
 style="text-align:left;background-color:#c0c0c0;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;Certificate of deposit (due in less than 1 year)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >325
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >325
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;Government-sponsored enterprise securities (due in
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;less than 1 year)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >11,288
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >(1
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >11,287
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;Government-sponsored enterprise securities (due in
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1 to 2 years)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >27,270
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >9
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;"
 >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >(11
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >27,268
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;Commercial paper (due in less than 1 year)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >12,087
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >7
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >12,094
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;Corporate notes (due in less than 1 year)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >116,822
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >127
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >(56
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >116,893
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;Corporate notes (due in 1 to 2 years)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >6,645
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >1
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >(3
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >6,643
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;Investments in licensees
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" ><font style="font-family:times new roman;" >1
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" ><font style="font-family:times new roman;"
 >1
</font>
</td>
</tr><tr valign="bottom" ><td width="79%" nowrap="nowrap" style="border-bottom:#c0c0c0 2pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:silver 2pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >174,438
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:silver 2pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >144
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:silver 2pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >(71
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:#c0c0c0 2pt solid;text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:silver 2pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >174,511
</font>
</td>
</tr><tr><td width="79%" nowrap="nowrap" style="text-align:left;background-color:#ffffff;" >&#160;<br />
<br />
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#ffffff;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#ffffff;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#ffffff;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#ffffff;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#ffffff;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#ffffff;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#ffffff;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#ffffff;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#ffffff;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#ffffff;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#ffffff;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:right;background-color:#ffffff;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#ffffff;" >&#160;
</td>
</tr>
</table>
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font>&#160;&#160;&#160;&#160;&#160;
</font>Marketable securities with unrealized losses at June 30, 2011 and December 31, 2010 were as follows:
</font>
</div><div><br />
<br />
</div><div><table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" ><tr valign="bottom" ><td width="67%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="10%" colspan="6" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Less Than 12 Months
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="10%" colspan="6" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >12 Months or Greater
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="10%" colspan="6" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Total
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="67%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Gross
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Gross
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Gross
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="67%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new
 roman;" >Estimated
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Unrealized
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Estimated
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Unrealized
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Estimated
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Unrealized
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="67%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Fair Value
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Losses
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Fair Value
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Losses
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Fair Value
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Losses
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="67%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="32%" colspan="20" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >(In thousands)
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="67%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >As of June 30, 2011:
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="67%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >Government-sponsored enterprise
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td
 width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="67%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;securities (due in less than 1 year)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >2,030
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >(2
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >2,030
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >(2
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td>
</tr><tr valign="bottom" ><td width="67%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Government-sponsored enterprise
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="67%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;securities (due in 1 to 2 years)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >4,000
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >(1
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;"
 >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >4,000
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >(1
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >)
</font>
</td>
</tr><tr valign="bottom" ><td width="67%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >Corporate notes (due in less than 1 year)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >43,627
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >(31
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >43,627
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >(31
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td>
</tr><tr valign="bottom" ><td width="67%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Corporate notes (due in 1 to 2 years)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >3,821
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >(4
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >3,821
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >(4
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >)
</font>
</td>
</tr><tr valign="bottom" ><td width="67%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:black 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >53,478
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%"
 nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >(38
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >53,478
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >(38
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td>
</tr><tr><td width="67%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="67%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >As of December 31, 2010:
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="67%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >Government-sponsored enterprise
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap"
 style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="67%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;securities (due in less than 1 year)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >7,287
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >(1
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >7,287
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >(1
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td>
</tr><tr valign="bottom" ><td width="67%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Government-sponsored enterprise
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="67%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;&#160;securities (due in 1 to 2 years)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >15,287
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >(11
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td
 width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >15,287
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >(11
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >)
</font>
</td>
</tr><tr valign="bottom" ><td width="67%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >Corporate notes (due in less than 1 year)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >61,354
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >(56
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >3,019
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >(1
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >64,373
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >(57
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td>
</tr><tr valign="bottom" ><td width="67%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Corporate notes (due in 1 to 2 years)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >4,313
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >(3
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >4,313
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >(3
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >)
</font>
</td>
</tr><tr valign="bottom" ><td width="67%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >88,241
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap"
 style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >(71
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >3,019
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >(1
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >91,260
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >(72
</font>
</td><td width="1%" nowrap="nowrap" style="border-bottom:#ffffff 2pt solid;text-align:left;" ><font style="font-family:times new roman;" >)
</font>
</td>
</tr><tr><td width="67%" nowrap="nowrap" style="text-align:left;" >&#160;<br />
<br />
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td>
</tr>
</table>
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>The gross unrealized losses related to government-sponsored enterprise securities and corporate notes as of June 30, 2011 and December 31, 2010 were due to changes in interest rates. We determined that the gross unrealized losses on our marketable securities as of June 30, 2011 and December 31, 2010 were temporary in nature. We review our investments quarterly to identify and evaluate whether any investments have indications of possible impairment. Factors considered in determining whether a loss is temporary include the length of time and extent to which the fair value has been less than the cost basis, the financial condition and near-term prospects of the investee, and whether we intend to sell the security or whether it is more likely than not that we would be required to sell the security. We currently do not intend to sell these securities before recovery of their amortized cost basis.
</font>
</div><div><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >
</font>
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Marketable and Non-Marketable Investments in Licensees
</font>
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>Where quoted prices are available in an active market, securities are categorized as Level 1. Level 1 securities include publicly traded equities. Significant investments in licensees accounted for using the equity method of accounting or equity securities in non-marketable companies are not measured at fair value and are not assigned a category level.
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>As of June 30, 2011 and December 31, 2010, the carrying values of our investments in non-marketable nonpublic companies were zero and $503,000, respectively. We recognized no charges related to other-than-temporary declines in fair values of investments in licensees for the three and six months ended June 30, 2011 and 2010. See Note 3 on Equity Method Investment for further discussion of investments in licensees.
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Derivatives
</font>
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>Warrants to purchase common stock and non-employee options are normally traded less actively, have trade activity that is one way, and/or traded in less-developed markets and are therefore valued based upon models with significant unobservable market parameters, resulting in Level 3
 categorization.
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>The fair value of derivatives has been calculated at each reporting date using the Black Scholes option-pricing model with the following assumptions:
</font>
</div><div><br />
<br />
</div><div><table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" ><tr valign="bottom" ><td width="94%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >June 30, 2011
</font>
</font>
</td><td width="2%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="2%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >December 31, 2010
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="94%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Dividend yield
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >None
</font>
</td><td width="2%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" >&#160;
</td><td width="2%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >None
</font>
</td>
</tr><tr valign="bottom" ><td width="94%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >Expected volatility
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" ><font style="font-family:times new roman;" >0.675
</font>
</td><td width="2%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="2%" nowrap="nowrap" style="text-align:center;" ><font style="font-family:times new roman;" >0.668
</font>
</td>
</tr><tr valign="bottom" ><td width="94%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Risk-free interest rate
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >0.81%
</font>
</td><td width="2%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" >&#160;
</td><td width="2%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >2.01%
</font>
</td>
</tr><tr valign="bottom" ><td width="94%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >Expected term
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" ><font style="font-family:times new roman;" >4 yrs
</font>
</td><td width="2%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="2%" nowrap="nowrap" style="text-align:center;" ><font style="font-family:times new roman;" >4 yrs
</font>
</td>
</tr>
</table>
</div><br />
<br />
<br />
<div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>Dividend yield is based on historical cash dividend payments and Geron has paid no dividends to date. The expected volatility is based on historical volatilities of our stock since traded options on Geron stock do not correspond to derivatives&#8217; terms and trading volume of Geron options is limited. The risk-free interest rate is based on the U.S. Zero Coupon Treasury Strip Yields for the expected term in effect on the reporting date. The expected term of derivatives is equal to the remaining contractual term of the instrument.
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>As of June 30, 2011 and December 31, 2010, the following non-employee options to purchase common stock were considered derivatives and classified as current liabilities:
</font>
</div><div><br />
<br />
</div><div><table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" ><tr valign="bottom" ><td width="72%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="2%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="2%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="2%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="2%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="2%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="2%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="6%" colspan="4" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >At June 30, 2011
</font>
</font>
</td><td width="2%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="6%" colspan="4" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >At December 31, 2010
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="72%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="2%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="2%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="2%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="2%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="2%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="2%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="2%" nowrap="nowrap"
 style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Number
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Fair
</font>
</font>
</td><td width="2%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="2%" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Number
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Fair
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="72%" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Issuance
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Exercise
</font>
</font>
</td><td width="2%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="2%" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Exercisable
</font>
</font>
</td><td width="2%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="2%" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Expiration
</font>
</font>
</td><td width="2%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="2%" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >of
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Value
</font>
</font>
</td><td width="2%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="2%" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >of
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Value
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="72%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Date
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="3%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Price
</font>
</font>
</td><td width="2%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="2%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Date
</font>
</font>
</td><td width="2%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="2%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Date
</font>
</font>
</td><td width="2%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="2%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Shares
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="3%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >(In thousands)
</font>
</font>
</td><td width="2%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="2%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Shares
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="3%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >(In thousands)
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="72%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >March 2005
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="2%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >6.39
</font>
</td><td width="2%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" >&#160;
</td><td width="2%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >January 2007
</font>
</td><td width="2%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" >&#160;
</td><td width="2%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >March 2015
</font>
</td><td width="2%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" >&#160;
</td><td width="2%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >284,600
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new
 roman;" >$
</font>
</td><td width="2%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >428
</font>
</td><td width="2%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" >&#160;
</td><td width="2%" nowrap="nowrap" style="text-align:center;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >284,600
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="2%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >707
</font>
</td>
</tr>
</table>
</div><br />
<br />
<br />
<div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>Non-employee options for which performance obligations are complete are classified as derivative liabilities on our condensed consolidated balance sheet. Upon the exercise of these options, the instruments are marked to fair value and reclassified from derivative liabilities to stockholders&#8217; equity. No reclassifications from current liabilities to stockholders&#8217; equity were made for derivatives during the six months ended June 30, 2011.
</font>
</div><div><font style="font-family:times new roman;" >
</font>
</div><div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" ><br />
</font>
</font>
</div><div>
</div><div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Fair Value on a Recurring Basis
</font>
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>The following table presents information about our financial assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2011, and indicates the fair value category assigned.
</font>
</div><div><br />
<br />
</div><div><table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" ><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="19%" colspan="11" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Fair Value Measurements at Reporting Date Using
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Significant
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Quoted Prices in
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Other
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Significant
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Active Markets for
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Observable
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Unobservable
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Identical Assets
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Inputs
</font>
</font>
</td><td width="1%" nowrap="nowrap"
 style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Inputs
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >(In thousands)
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Level 1
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Level 2
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Level 3
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Total
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Assets
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >Money market funds <font style="font-size:70%;vertical-align:text-top;" >(1)
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >9,403
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >9,403
</font>
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Certificate of deposit <font style="font-size:70%;vertical-align:text-top;" >(2)
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >338
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >338
</font>
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >Municipal securities <font style="font-size:70%;vertical-align:text-top;" >(1)
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap"
 style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >20,270
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >20,270
</font>
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Government-sponsored enterprise securities <font style="font-size:70%;vertical-align:text-top;" >(2) (3)
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >24,767
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >24,767
</font>
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >Commercial paper <font style="font-size:70%;vertical-align:text-top;" >(2)
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >10,850
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" ><font style="font-family:times new roman;" >10,850
</font>
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Corporate notes <font style="font-size:70%;vertical-align:text-top;" >(2) (3)
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >123,393
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >123,393
</font>
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >Investments in licensees <font style="font-size:70%;vertical-align:text-top;" >(4)
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" ><font style="font-family:times new roman;" >2
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap"
 style="border-bottom:#000000 1pt solid;text-align:right;" ><font style="font-family:times new roman;" >2
</font>
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Total
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >9,743
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >179,280
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >189,023
</font>
</td>
</tr><tr><td width="80%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="19%" colspan="11" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Fair Value Measurements at Reporting Date Using
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Significant
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Quoted Prices in
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Other
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Significant
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Active Markets for
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Observable
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Unobservable
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;"
 >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Identical Assets
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Inputs
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Inputs
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="80%" nowrap="nowrap" style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >(In thousands)
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Level 1
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Level 2
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Level 3
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Total
</font>
</font>
</td>
</tr><tr><td width="80%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Liabilities
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" >&#160;
</td>
</tr><tr><td width="80%" nowrap="nowrap" style="text-align:left;" ><font style="font-family:times new roman;" >Derivatives <font style="font-size:70%;vertical-align:text-top;" >(5)
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >428
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:left;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="border-bottom:#000000 2pt double;text-align:right;" ><font style="font-family:times new roman;" >428
</font>
</td>
</tr><tr><td width="80%" nowrap="nowrap" style="text-align:left;" >____________________
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td>
</tr>
</table>
</div>&#160;<br />
<br />
<br />
<div><table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;" ><tr><td valign="top" nowrap="nowrap" ><font style="font-family:times new roman;" >(1)
</font>
</td><td valign="top" nowrap="nowrap" ><font
 style="font-family:times new roman;" >&#160;
</font>
</td><td width="100%" ><font style="font-family:times new roman;" >Included in cash and cash equivalents on our condensed consolidated balance sheet.
</font>
</td>
</tr><tr><td valign="top" nowrap="nowrap" >&#160;
</td><td valign="top" nowrap="nowrap" >&#160;&#160;&#160;&#160;&#160;
</td><td width="100%" ><br />
<br />
&#160;
</td>
</tr><tr><td valign="top" nowrap="nowrap" ><font style="font-family:times new roman;" >(2)
</font>
</td><td valign="top" nowrap="nowrap" ><font style="font-family:times new roman;" >&#160;
</font>
</td><td width="100%" ><font style="font-family:times new roman;" >Included in current marketable securities on our condensed consolidated balance sheet.
</font>
</td>
</tr><tr><td colspan="3" >&#160;<br />
<br />
</td>
</tr><tr><td valign="top" nowrap="nowrap" ><font style="font-family:times new roman;" >(3)
</font>
</td><td valign="top" nowrap="nowrap" ><font style="font-family:times new roman;" >&#160;
</font>
</td><td width="100%" ><font style="font-family:times new roman;" >Included in noncurrent marketable securities on our condensed consolidated balance sheet.
</font>
</td>
</tr><tr><td colspan="3" >&#160;<br />
<br />
</td>
</tr><tr><td valign="top" nowrap="nowrap" ><font style="font-family:times new roman;" >(4)
</font>
</td><td valign="top" nowrap="nowrap" ><font style="font-family:times new roman;" >&#160;
</font>
</td><td width="100%" ><font style="font-family:times new roman;" >Included in investments in licensees on our condensed consolidated balance sheet.
</font>
</td>
</tr><tr><td colspan="3" >&#160;<br />
<br />
</td>
</tr><tr><td valign="top" nowrap="nowrap" ><font style="font-family:times new roman;" >(5)
</font>
</td><td valign="top" nowrap="nowrap" ><font style="font-family:times new roman;" >&#160;
</font>
</td><td width="100%" ><font style="font-family:times new roman;" >Included in fair value of derivatives on our condensed consolidated balance sheet.
</font>
</td>
</tr>
</table>
</div><div><font style="font-family:times new roman;" ><br />
<br />
</font>
</div><div style="text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Changes in Level 3 Recurring Fair Value Measurements
</font>
</font>
</div><div><br />
<br />
</div><div style="text-align:left;" ><font style="font-family:times new roman;" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;
</font>The tables below includes a rollforward of the balance sheet amounts for the three and six months ended June 30, 2011 (including the change in fair value), for financial instruments in the Level 3 category. When a determination is made to classify a financial instrument within Level 3, the determination is based upon the significance of the unobservable parameters to the overall fair value measurement. However, Level 3 financial instruments typically include, in addition to the unobservable components, observable components (that is, components that are actively quoted and can be validated to external sources). Accordingly, the gains and losses in the table below include changes in fair value due in part to observable factors that are part of the methodology.
</font>
</div><div><br />
<br />
</div><div><table border="0" cellspacing="0" cellpadding="0" width="100%" style="line-height:14pt;border-collapse:collapse;" ><tr valign="bottom" ><td width="68%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="31%" colspan="19" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="68%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="31%" colspan="19" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Three Months Ended June 30, 2011
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="68%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Change in
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="68%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;"
 >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Unrealized Gains
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="68%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Total
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Purchases,
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Related to
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="68%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Unrealized
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Sales,
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Transfers
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Financial
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="68%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Fair Value at
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Gains
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Issuances,
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >In and/or
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Fair Value at
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Instruments
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="68%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >March 31,
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Included in
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Settlements,
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Out of
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >June 30,
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font
 style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Held at
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="68%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >(In thousands)
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >2011
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Earnings, net
</font>
</font><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" ><font style="font-size:70%;vertical-align:text-top;" >(1)
</font>
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >net
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Level 3
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >2011
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >June 30, 2011 <font style="font-size:70%;vertical-align:text-top;" >(1)
</font>
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="68%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Derivative liabilities
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >668
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >(240
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >428
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >(240
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >)
</font>
</td>
</tr><tr><td width="68%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:right;"
 >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;" >&#160;
</td>
</tr><tr valign="bottom" ><td width="68%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="31%" colspan="19" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="68%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="31%" colspan="19" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Six&#160;Months Ended June 30, 2011
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="68%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Change in
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="68%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Unrealized Gains
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="68%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Total
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Purchases,
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Related to
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="68%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Unrealized
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Sales,
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Transfers
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="3%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="1%" nowrap="nowrap"
 style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Financial
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="68%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Fair Value at
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Gains
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Issuances,
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >In and/or
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Fair Value at
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Instruments
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="68%" nowrap="nowrap" style="text-align:left;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >December&#160;31,
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Included in
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Settlements,
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Out of
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >June 30,
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Held at
</font>
</font>
</td>
</tr><tr valign="bottom" ><td width="68%" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:left;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >(In thousands)
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >2010
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Earnings, net
</font>
</font><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" ><font style="font-size:70%;vertical-align:text-top;" >(1)
</font>
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >net
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >Level 3
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="4%" colspan="2" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >2011
</font>
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:center;" >&#160;&#160;&#160;&#160;&#160;
</td><td width="5%" colspan="3" nowrap="nowrap" style="border-bottom:#000000 1pt solid;text-align:center;" ><font style="display:inline;font-weight:bold;" ><font style="font-family:times new roman;" >June 30, 2011 <font style="font-size:70%;vertical-align:text-top;" >(1)
</font>
</font>
</font>
</td>
</tr><tr><td width="68%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >Derivative liabilities
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >707
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap"
 style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >(279
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >)
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >&#8212;
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >428
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" >&#160;
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >$
</font>
</td><td width="3%" nowrap="nowrap" style="text-align:right;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >(279
</font>
</td><td width="1%" nowrap="nowrap" style="text-align:left;background-color:#c0c0c0;" ><font style="font-family:times new roman;" >)
</font>
</td>
</tr>
</table>
</div>____________________<br />
&#160;<br />
<br />
<br />
<div><table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;" ><tr><td valign="top" nowrap="nowrap" ><font style="font-family:times new roman;" >(1)
</font>
</td><td valign="top" nowrap="nowrap" ><font style="font-family:times new roman;" >&#160;&#160;&#160;&#160;&#160;&#160;
</font>
</td><td width="100%" ><font style="font-family:times new roman;" >Reported as unrealized gain on fair value of derivatives in our condensed consolidated statements of operations.
</font>
</td>
</tr>
</table>
</div>
</div>
</div><span></span></td>
      </tr>
    </table>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
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                    <td><nobr>us-gaap_FairValueDisclosuresAbstract</nobr></td>
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                    <td><strong> Data Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
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              </div>
            </div>
          </td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6925170&amp;loc=d3e19296-110258<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 159<br> -Paragraph 17-22, 27, 28<br> -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.<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=6947722&amp;loc=d3e13433-108611<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 107<br> -Paragraph 15C, 15D<br> -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.<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=6957238&amp;loc=d3e14064-108612<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=6947722&amp;loc=d3e13504-108611<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 107<br> -Paragraph 15A<br> -Subparagraph a-d<br> -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.<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 21<br> -URI http://asc.fasb.org/extlink&amp;oid=6947722&amp;loc=d3e13537-108611<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 133<br> -Paragraph 44A, 44B<br> -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.<br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6925170&amp;loc=d3e19207-110258<br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -URI http://asc.fasb.org/extlink&amp;oid=6957238&amp;loc=d3e14172-108612<br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 107<br> -Paragraph 3, 10, 14, 15<br> -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.<br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 107<br> -Paragraph 15B<br> -Subparagraph a, b<br> -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.<br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 157<br> -Paragraph 32, 33, 34<br> -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.<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_FairValueDisclosuresTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
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﻿<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=utf-8">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.3.0.11</span><table class="report" border="0" cellspacing="2" id="ID0ETGAG">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)<br>In Thousands</strong></div>
        </th>
        <th class="th">
          <div>Jun. 30, 2011</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2010</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsAbstract', window );"><strong>ASSETS</strong></a></td>
        <td class="text"> <span></span></td>
        <td class="text"> <span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
        <td class="nump">$ 32,019<span></span></td>
        <td class="nump">$ 45,972<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue', window );">Restricted cash</a></td>
        <td class="nump">793<span></span></td>
        <td class="nump">792<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesCurrent', window );">Current portion of marketable securities</a></td>
        <td class="nump">119,756<span></span></td>
        <td class="nump">140,599<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NontradeReceivablesCurrent', window );">Interest and other receivables</a></td>
        <td class="nump">1,630<span></span></td>
        <td class="nump">1,799<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseCurrent', window );">Current portion of prepaid assets</a></td>
        <td class="nump">2,996<span></span></td>
        <td class="nump">5,855<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total current assets</a></td>
        <td class="nump">157,194<span></span></td>
        <td class="nump">195,017<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesNoncurrent', window );">Noncurrent portion of marketable securities</a></td>
        <td class="nump">39,592<span></span></td>
        <td class="nump">33,911<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseOtherNoncurrent', window );">Noncurrent portion of prepaid assets</a></td>
        <td class="nump">108<span></span></td>
        <td class="nump">854<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures', window );">Investments in licensees</a></td>
        <td class="nump">2<span></span></td>
        <td class="nump">504<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property and equipment, net</a></td>
        <td class="nump">2,514<span></span></td>
        <td class="nump">3,088<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepositsAssetsNoncurrent', window );">Deposits and other assets</a></td>
        <td class="nump">920<span></span></td>
        <td class="nump">210<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Assets</a></td>
        <td class="nump">200,330<span></span></td>
        <td class="nump">233,584<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquityAbstract', window );"><strong>LIABILITIES AND STOCKHOLDERS' EQUITY</strong></a></td>
        <td class="text"> <span></span></td>
        <td class="text"> <span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableCurrent', window );">Accounts payable</a></td>
        <td class="nump">3,471<span></span></td>
        <td class="nump">3,462<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeRelatedLiabilitiesCurrent', window );">Accrued compensation</a></td>
        <td class="nump">2,305<span></span></td>
        <td class="nump">6,186<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedLiabilitiesCurrent', window );">Accrued liabilities</a></td>
        <td class="nump">3,066<span></span></td>
        <td class="nump">2,644<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gern_StockIssuanceObligationCurrent', window );">Stock issuance obligation</a></td>
        <td class="nump">0<span></span></td>
        <td class="nump">27,500<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueCurrent', window );">Deferred revenue</a></td>
        <td class="nump">0<span></span></td>
        <td class="nump">350<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gern_FairvalueDerivativeLiabilities', window );">Fair value of derivatives</a></td>
        <td class="nump">428<span></span></td>
        <td class="nump">707<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total current liabilities</a></td>
        <td class="nump">9,270<span></span></td>
        <td class="nump">40,849<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingencies', window );">Commitments and contingencies</a></td>
        <td class="text">&nbsp;<span></span></td>
        <td class="text">&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Stockholders' equity:</strong></a></td>
        <td class="text"> <span></span></td>
        <td class="text"> <span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Common stock</a></td>
        <td class="nump">131<span></span></td>
        <td class="nump">123<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapitalCommonStock', window );">Additional paid-in capital</a></td>
        <td class="nump">925,098<span></span></td>
        <td class="nump">881,358<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Accumulated deficit</a></td>
        <td class="num">(734,127)<span></span></td>
        <td class="num">(688,650)<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive loss</a></td>
        <td class="num">(42)<span></span></td>
        <td class="num">(96)<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total stockholders' equity</a></td>
        <td class="nump">191,060<span></span></td>
        <td class="nump">192,735<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Liabilities and Stockholders' Equity</a></td>
        <td class="nump">$ 200,330<span></span></td>
        <td class="nump">$ 233,584<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gern_FairvalueDerivativeLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Fair values as of the balance sheet date of all outstanding warrants and non-employee options classified as derivative liabilities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>gern_FairvalueDerivativeLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>gern</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gern_StockIssuanceObligationCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The current carrying amount, due within one year or the normal operating cycle, if longer, of an obligation to issue common stock.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>gern_StockIssuanceObligationCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>gern</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 19<br> -Subparagraph a<br> -Article 5<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccountsPayableCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedLiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 20<br> -Article 5<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccruedLiabilitiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e653-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 130<br> -Paragraph 14, 17, 26<br> -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.<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 31<br> -Article 5<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher AICPA<br> -Name Accounting Principles Board Opinion (APB)<br> -Number 12<br> -Paragraph 10<br> -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.<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name FASB Staff Position (FSP)<br> -Number FAS115-1/124-1<br> -Paragraph 15D<br> -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.<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e637-108580<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e681-108580<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapitalCommonStock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 31<br> -Article 5<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.30(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdditionalPaidInCapitalCommonStock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Article 7<br> -Section 03<br> -Paragraph 12<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Topic 210<br> -SubTopic 10<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br> -Section S99<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -Paragraph 1<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Concepts (CON)<br> -Number 6<br> -Paragraph 25<br> -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.<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 18<br> -Article 5<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Assets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6801-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Section 45<br> -SubTopic 10<br> -Topic 210<br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Paragraph 1<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 9<br> -Article 5<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetsCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AvailableForSaleSecuritiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Investments in debt and equity securities which are categorized neither as trading securities nor held-to-maturity securities and which are intended be sold or mature within one year from the balance sheet date or the normal operating cycle, whichever is longer. Such securities are reported at fair value; unrealized gains (losses) related to Available-for-sale Securities are excluded from earnings and reported in a separate component of shareholders' equity (other comprehensive income), unless the Available-for-sale security is designated as a hedge or is determined to have had an other than temporary decline in fair value below its amortized cost basis. All or a portion of the unrealized holding gain (loss) of an Available-for-sale security that is designated as being hedged in a fair value hedge is recognized in earnings during the period of the hedge, as are other than temporary declines in fair value below the cost basis for investments in equity securities and debt securities that an entity intends to sell or it is more likely than not that it will be required to sell before the recovery of its amortized cost basis. Other than temporary declines in fair value below the cost basis for debt securities categorized as Available-for-sale that an entity does not intend to sell and for which it is not more likely than not that the entity will be required to sell before the recovery of its amortized cost basis are bifurcated into credit losses and losses related to all other factors. Other than temporary declines in fair value below cost basis related to credit losses are recognized in earnings, and losses related to all other factors are recognized in other comprehensive income.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6871852&amp;loc=d3e26626-111562<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 133<br> -Paragraph 22<br> -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.<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 115<br> -Paragraph 16<br> -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.<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name FASB Staff Position (FSP)<br> -Number FAS115-1/124-1<br> -Paragraph 15D<br> -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.<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 115<br> -Paragraph 12<br> -Subparagraph b<br> -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.<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name FASB Staff Position (FSP)<br> -Number FAS115-1/124-1<br> -Paragraph 15C<br> -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.<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 115<br> -Paragraph 13, 17<br> -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.<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher AICPA<br> -Name Accounting Research Bulletin (ARB)<br> -Number 43<br> -Chapter 3<br> -Section A<br> -Paragraph 4, 5<br> -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.<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 25<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6379932&amp;loc=d3e22054-111558<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AvailableForSaleSecuritiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AvailableForSaleSecuritiesNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Investments in debt and equity securities which are categorized neither as held-to-maturity nor trading and which are intended to be sold or mature more than one year from the balance sheet date or operating cycle, if longer. Such securities are reported at fair value; unrealized gains (losses) related to Available-for-sale Securities are excluded from earnings and reported in a separate component of shareholders' equity (other comprehensive income), unless the Available-for-sale security is designated as a hedge or is determined to have had an other than temporary decline in fair value below its amortized cost basis. All or a portion of the unrealized holding gain (loss) of an Available-for-sale security that is designated as being hedged in a fair value hedge is recognized in earnings during the period of the hedge, as are other than temporary declines in fair value below the cost basis for investments in equity securities and debt securities that an entity intends to sell or it is more likely than not that it will be required to sell before the recovery of its amortized cost basis. Other than temporary declines in fair value below the cost basis for debt securities categorized as Available-for-sale that an entity does not intend to sell and for which it is not more likely than not that the entity will be required to sell before the recovery of its amortized cost basis are bifurcated into credit losses and losses related to all other factors. Other than temporary declines in fair value below cost basis related to credit losses are recognized in earnings, and losses related to all other factors are recognized in other comprehensive income.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6871852&amp;loc=d3e26626-111562<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name FASB Staff Position (FSP)<br> -Number FAS115-1/124-1<br> -Paragraph 15C<br> -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.<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 115<br> -Paragraph 12<br> -Subparagraph b<br> -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.<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name FASB Staff Position (FSP)<br> -Number FAS115-1/124-1<br> -Paragraph 15D<br> -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.<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 115<br> -Paragraph 17<br> -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.<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Available-for-Sale Securities<br> -URI http://asc.fasb.org/extlink&amp;oid=6505594<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name FASB Staff Position (FSP)<br> -Number FAS115-1/124-1<br> -Paragraph 15E<br> -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.<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AvailableForSaleSecuritiesNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 1<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 7<br> -Footnote 1<br> -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.<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3044-108585<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 8, 9<br> -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.<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 95<br> -Paragraph 7, 26<br> -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.<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsAtCarryingValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingencies">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 17<br> -Article 9<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Article 7<br> -Section 03<br> -Paragraph 19<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 25<br> -Article 5<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.(a),19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6952336&amp;loc=d3e14326-108349<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 5<br> -Paragraph 8, 9<br> -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.<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.25)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommitmentsAndContingencies</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6935-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher AICPA<br> -Name Accounting Research Bulletin (ARB)<br> -Number 43<br> -Chapter 3<br> -Section A<br> -Paragraph 7, 8<br> -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.<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 13<br> -Section A<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 13.A.4(a).Q1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6600647&amp;loc=d3e214044-122780<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredRevenueCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepositsAssetsNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value of amounts transferred to third parties for security purposes that are expected to be returned or applied towards payment after one year or beyond the operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 17<br> -Article 5<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DepositsAssetsNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeRelatedLiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 20<br> -Article 5<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EmployeeRelatedLiabilitiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 32<br> -Article 5<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.32)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Article 7<br> -Section 03<br> -Paragraph 25<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesAndStockholdersEquity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquityAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesAndStockholdersEquityAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 21<br> -Article 5<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NontradeReceivablesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The sum of amounts currently receivable other than from customers. For classified balance sheets, represents the current amount receivable, that is amounts expected to be collected within one year or the normal operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 8<br> -Article 5<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NontradeReceivablesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 340<br> -SubTopic 10<br> -Section 05<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6386993&amp;loc=d3e5879-108316<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher AICPA<br> -Name Accounting Research Bulletin (ARB)<br> -Number 43<br> -Section A<br> -Paragraph 4<br> -Chapter 3<br> -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.<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Assets<br> -URI http://asc.fasb.org/extlink&amp;oid=6509628<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6787-107765<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PrepaidExpenseCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseOtherNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount as of the balance sheet date of amounts paid in advance which will be charged against earnings in periods after one year or beyond the operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 17<br> -Article 5<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6812-107765<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PrepaidExpenseOtherNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Article 7<br> -Section 03<br> -Paragraph 8<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 13<br> -Subparagraph a<br> -Article 5<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Statement of Financial Accounting Standard (FAS)<br> -Number 12<br> -Paragraph 5<br> -Subparagraph b, c<br> -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.<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PropertyPlantAndEquipmentNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. For a classified balance sheet represents the current portion only (the noncurrent portion has a separate concept); there is a separate and distinct element for unclassified presentations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 1<br> -Article 5<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher AICPA<br> -Name Audit and Accounting Guide (AAG)<br> -Number AAG-BRD<br> -Chapter 4<br> -Paragraph 80<br> -Subparagraph Exhibit 4-8, 3<br> -IssueDate 2006-05-01<br> -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.<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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end

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
