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SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Tables)
 12 Months Ended
Dec. 31, 2013
SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)  
Schedule of selected quarterly financial information (unaudited)

16. SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

 
   First
Quarter		   Second
Quarter		   Third
Quarter		   Fourth
Quarter		  
 
   (In thousands, except per share amounts)
  

Year Ended December 31, 2013

                          

Revenues

   $ 765   $ 112   $ 181   $ 225  

Operating expenses(1)

     12,750     9,077     8,914     9,500  

Net loss

     (11,897 )   (8,947 )   (8,254 )   (9,281 )

Basic and diluted net loss per share

   $ (0.09 ) $ (0.07 ) $ (0.06 ) $ (0.07 )

Year Ended December 31, 2012

                          

Revenues

   $ 1,254   $ 130   $ 636   $ 689  

Operating expenses(2)

     20,172     18,609     16,513     19,173  

Net loss

     (18,739 )   (18,326 )   (15,953 )   (15,863 )

Basic and diluted net loss per share

   $ (0.15 ) $ (0.14 ) $ (0.13 ) $ (0.12 )
(1)
The fourth quarter of 2013 includes approximately $430,000 in restructuring charges in connection with the closure our research laboratory facility located at 200 Constitution Drive, Menlo Park, California. See Note 7 on Restructurings.

(2)
The fourth quarter of 2012 includes approximately $2,702,000 in restructuring charges in connection with the decision to discontinue development of GRN1005 and focus on the development of imetelstat. See Note 7 on Restructurings.