Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 20,355 $ 11,029
Marketable securities 83,883 59,819
Collaboration receivable 6,653 15,635
Prepaid expenses and other current assets 1,162 1,167
Total current assets 112,053 87,650
Property and equipment, net 760 812
Other assets 1,059 1,059
Total assets 113,872 89,521
Current liabilities:    
Accounts payable 2,354 908
Accrued clinical and development expenses 5,624 5,750
Accrued liabilities 3,090 2,257
Deferred revenue, current 12,722 8,536
Total current liabilities 23,790 17,451
Warrant liability 35,646 32,558
Deferred revenue, non-current 75,989 53,097
Deferred rent 262 268
Total liabilities 135,687 103,374
Commitments and contingencies (Note 7)      
Stockholders' equity (deficit):    
Preferred stock, $0.001 par value, 2,000,000 shares authorized; no shares issued and outstanding      
Common stock, $0.001 par value, shares authorized: 150,000,000 shares; issued and outstanding: 56,546,609 shares at March 31, 2013 and 56,431,207 shares at December 31, 2012 56 56
Additional paid-in capital 310,600 309,343
Accumulated other comprehensive gain (loss) 6 11
Accumulated deficit (332,477) (323,263)
Total stockholders' equity (deficit) (21,815) (13,853)
Total liabilities and stockholders' equity (deficit) $ 113,872 $ 89,521