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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes [Abstract]

Income tax reconciliation

The provision for income taxes differs from the amount computed by applying the statutory rate as follows:

		Year Ended December 31,
(in thousands)		2012				2011				2010
Income taxes using U.S. federal statutory rate		$	(17,621	)		$	(10,501	)		$	(15,872	)
Amoritization of Gain on IP Migration			754				–				–
State income taxes, net of federal benefit			(4,299	)			(3,418	)			(4,276	)
Foreign rate differential			3,716				52				–
Valuation allowance			17,561				20,563				15,041
Derivative charge			(734	)			(5,292	)			5,423
Stock option exercises and cancellations			310				102				–
Research and development credits			326				(1,633	)			(519	)
Other			(13	)			127				203
Total		$	–			$	–			$	–

Significant components of deferred tax assets

Significant components of the Company's deferred tax assets are as follows:

(in thousands)		2012				2011
Deferred tax assets:
Employee compensation accruals		$	6,176			$	4,973
Accrued liabilities			299				283
Research tax credits			2,382				2,708
Other			31				3
Net operating losses			63,765				47,118
Total deferred tax assets			72,653				55,085
Deferred tax liability:
Total deferred tax liabilities			–				–
Valuation allowance			72,653				55,085
Net deferred tax assets		$	–			$	–

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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