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Quarterly Financial Information (unaudited) | 12 Months Ended
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Dec. 31, 2012
Quarterly Financial Information (unaudited) [Abstract] |
Quarterly Financial Information (unaudited) |
14. | Quarterly Financial Information (unaudited)
The following is a summary of the quarterly results of operations for the years ended December 31, 2012 and 2011:
|  | Consolidated Statements of Operations |
|  | Quarter Ended |
|  | March 31 |  |  | June 30 |  |  | September 30 |  |  | December 31 |
|  | (In thousands, except per share amounts) |
2012 |  |  |  |  |  |  |  |  |  |  |  |
Total revenues |  | $ | 9,865 |  |  | $ | 9,275 |  |  | $ | 7,251 |  |  | $ | 7,391 |
Total operating costs and expenses |  |  | (24,227 | ) |  |  | (22,765 | ) |  |  | (23,404 | ) |  |  | (19,834 | )
Other (expense) income, net (1) |  |  | (16,063 | ) |  |  | (2,665 | ) |  |  | (10,772 | ) |  |  | 14,985 |
Income tax benefit |  |  | - |  |  |  | - |  |  |  | 74 |  |  |  | - |
Net (loss) income |  |  | (30,425 | ) |  |  | (16,155 | ) |  |  | (26,851 | ) |  |  | 2,542 |
Basic and diluted net (loss) income per share of common stock |  | $ | (0.69 | ) |  | $ | (0.24 | ) |  | $ | (0.39 | ) |  | $ | 0.03 |
2011 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenues (2) |  | $ | 15,595 |  |  | $ | 16,525 |  |  | $ | 16,229 |  |  | $ | 9,847 |
Total operating costs and expenses |  |  | (22,716 | ) |  |  | (24,394 | ) |  |  | (23,147 | ) |  |  | (21,894 | )
Other income (expense), net |  |  | 801 |  |  |  | (261 | ) |  |  | 375 |  |  |  | 312 |
Income tax expense |  |  | (15 | ) |  |  | - |  |  |  | - |  |  |  | - |
Net loss |  |  | (6,335 | ) |  |  | (8,130 | ) |  |  | (6,543 | ) |  |  | (11,735 | )
Basic and diluted net loss per share of common stock |  | $ | (0.22 | ) |  | $ | (0.27 | ) |  | $ | (0.20 | ) |  | $ | (0.34 | )
(1) | Fluctuations in 2012 primarily relate to (losses) gains on the revaluation of the contingent warrant liabilities.
(2) | Revenue in the first three quarters of 2011 includes the recognition of $14.9 million of the non-recurring license fee received as consideration for the collaboration with Servier entered into in December 2010.

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