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Consolidated Statements of Expenses (USD $) In Thousands, except Share data, unless otherwise specified | 12 Months Ended | 108 Months Ended
--- | --- | ---
Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2011
Expenses: |  |  |
Research and development expense | $ 10,742 | $ 6,046 | $ 37,425
Research and development employee stock-based compensation expense | 866 | 1,084 | 3,273
Research and development non-employee stock-based compensation expense | (70) | 743 | 5,993
Fair value of common stock issued in exchange for licensing rights |  |  | 3,954
Total research and development expense | 11,538 | 7,873 | 50,645
General and administrative expense | 6,863 | 5,493 | 27,973
Fair value of common stock warrants issued for general and administrative expense | 108 | 718 | 2,402
Fair value of common stock issued in exchange for general and administrative expenses | 73 |  | 354
General and administrative employee stock-based compensation expense | 2,205 | 2,541 | 9,590
Total general and administrative expense | 9,249 | 8,752 | 40,319
Operating loss | (20,787) | (16,625) | (90,964)
Other income/(expense): |  |  |
Interest income, net | 30 | 5 | 658
Loss on warrant exchange | (900) |  | (900)
Other income, net | 10,172 | 4,627 | 13,937
Total other income, net | 9,302 | 4,632 | 13,695
Loss on warrant exchange | (900) |  | (900)
Other income, net | 10,172 | 4,627 | 13,937
Loss before provision for income taxes | (11,485) | (11,993) | (77,269)
Provision for income taxes |  |  |
Net loss | $ (11,485) | $ (11,993) | $ (77,269)
Net loss per common share: |  |  |
Basic and diluted loss per share | $ (0.32) | $ (0.67) | $ 0
Weighted average common shares outstanding: basic and diluted | 36,334,413 | 17,883,381 |

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