Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
Current assets:    
Cash and cash equivalents $ 11,029 $ 5,882
Marketable securities 59,819 14,408
Collaboration receivable 15,635   
Prepaid expenses and other current assets 1,167 254
Total current assets 87,650 20,544
Property and equipment, net 812 543
Other assets 1,059 1,349
Total assets 89,521 22,436
Current liabilities:    
Accounts payable 908 2,389
Accrued clinical and development expenses 5,750 4,465
Accrued liabilities 2,257 1,737
Deferred revenue, current 8,536   
Total current liabilities 17,451 8,591
Warrant liability 32,558 9,209
Deferred revenue, non-current 53,097   
Deferred rent 268 153
Total liabilities 103,374 17,953
Commitments and contingencies (Note 7)      
Stockholders' equity (deficit):    
Preferred stock, $0.001 par value: Authorized: 2,000,000 shares authorized; no shares issued and outstanding.      
Common stock, $0.001 par value: Authorized: 150,000,000 shares at December 31, 2012 and 2011; Issued and outstanding: 56,431,207 and 49,128,475 shares at December 31, 2012 and 2011, respectively. 56 49
Additional paid-in capital 309,343 256,563
Accumulated other comprehensive (loss) income 11 (1)
Accumulated deficit (323,263) (252,128)
Total stockholders' equity (deficit) (13,853) 4,483
Total liabilities and stockholders' equity (deficit) $ 89,521 $ 22,436