Quarterly Information (Unaudited)

12 Months Ended

Dec. 31, 2011

Note 13—Quarterly Information (Unaudited)

The following table summarizes the unaudited statements of operations for each quarter of 2011 and 2010 (in thousands, except per share amounts):


	March 31,			June 30,			September 30,			December 31,
	2011
Revenue	$	1,239		$	1,155		$	987		$	1,143
Total operating expenses		7,689			6,104			7,151			10,990
Loss from operations		(6,450	)		(4,949	)		(6,164	)		(9,847	)
Net loss		(6,542	)		(5,291	)		(6,512	)		(10,201	)
Basic and diluted net loss per share	$	(0.30	)	$	(0.24	)	$	(0.29	)	$	(0.46	)

	2010
Revenue	$	378		$	497		$	254		$	976
Total operating expenses		6,803			8,131			7,744			9,533
Loss from operations		(6,425	)		(7,634	)		(7,490	)		(8,557	)
Net loss		(6,661	)		(7,804	)		(7,555	)		(7,231	)
Basic and diluted net loss per share	$	(0.31	)	$	(0.36	)	$	(0.35	)	$	(0.34	)

- 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.

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