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Condensed Balance Sheets (Unaudited) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2012
Dec. 31, 2011
Current assets    
Cash and cash equivalents $ 79,020 $ 73,144 [1]
Marketable Securities 14,922 24,987 [1]
Other current assets 95 358 [1]
Total current assets 94,037 98,489 [1]
Property and equipment, net 52 122 [1]
Other assets 351 352 [1]
Total assets 94,440 98,963 [1]
Current liabilities    
Accounts payable 501 464 [1]
Accrued development expense 605 914 [1]
Deferred program fee revenue - current portion 10,897 10,897 [1]
Accrued compensation and benefits 377 915 [1]
Other accrued liabilities 41 82 [1]
Total current liabilities 12,421 13,272 [1]
Non-current liabilities    
Deferred program fee revenue-non-current portion 35,415 40,863 [1]
Deferred tax liabilities 435 435 [1]
Total liabilities 48,271 54,570 [1]
Commitments and contingencies       [1]
Stockholders' equity    
Preferred stock       [1]
Common stock 45 45 [1]
Additional paid-in-capital 178,387 176,425 [1]
Accumulated other comprehensive income 43 128 [1]
Accumulated deficit (132,306) (132,205) [1]
Total stockholders' equity 46,169 44,393 [1]
Total liabilities and stockholders' equity $ 94,440 $ 98,963 [1]
[1] (1) Derived from the Company's audited financial statements as of December 31, 2011, included in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission.