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Quarterly Summarized Financial Information (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2011
Quarterly Summarized Financial Information (Unaudited) |
|  | Fiscal year ended December 31, 2011 |
|  | 1st Quarter |  |  | 2nd Quarter |  |  | 3rd Quarter |  |  | 4th Quarter |
|  | (In thousands, except per share amounts) |
Revenue |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Net income (loss)(1) |  |  | 18,294 |  |  |  | (202,103 | ) |  |  | 96,345 |  |  |  | 18,338 |
Net income (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.15 |  |  | $ | (1.58 | ) |  | $ | 0.72 |  |  | $ | 0.14 |
Diluted |  | $ | 0.12 |  |  | $ | (1.58 | ) |  | $ | 0.62 |  |  | $ | 0.12 |
|  | Fiscal year ended December 31, 2010 |
|  | 1st Quarter |  |  | 2nd Quarter |  |  | 3rd Quarter |  |  | 4th Quarter |
|  | (In thousands, except per share amounts) |
Revenue |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Net loss(2) |  |  | (9,211 | ) |  |  | (41,357 | ) |  |  | (11,209 | ) |  |  | (187,812 | )
Net loss per basic and diluted share: |  | $ | (0.09 | ) |  | $ | (0.42 | ) |  | $ | (0.11 | ) |  | $ | (1.82 | )
(1) | The net income generated in the first, third and fourth quarters of 2011 were due to the change in the fair value of the warrant derivative liability at each respective quarterly reporting period in 2011. As a result of a decrease in the Company’s stock price at each respective quarter end versus the previous quarter end, the value of the derivative liability decreased, resulting in non-cash income for change in the fair value of the warrant derivative. The loss in the second quarter of 2011 was also due primarily to the change in the fair value of the warrant derivative liability, which was due to the Company’s stock price increasing in value at June 30, 2011, versus March 31, 2011.
(2) | The increase in net loss in the fourth quarter of 2010 is primarily due to the change in the fair value of the warrant derivative liability as a result of the change in the Company’s stock price at December 31, 2010.

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- Definition Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 270 -SubTopic 10 -Publisher FASB -Number -Article -Subparagraph (a)-(j) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6952194&loc=d3e1280-108306 + Details
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