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, 2012
Dec. 31, 2011
ASSETS    
Cash and cash equivalents $ 25,935 $ 5,882
Marketable securities 23,796 14,408
Collaboration receivable 37,540  
Prepaid expenses and other current assets 767 254
Total current assets 88,038 20,544
Property and equipment, net 617 543
Restricted cash and other assets 1,059 1,349
Total assets 89,714 22,436
LIABILITIES AND STOCKHOLDERS' EQUITY (NET CAPITAL DEFICIENCY)    
Accounts payable 1,307 2,389
Accrued clinical and development expenses 4,703 4,465
Accrued liabilities 2,016 1,737
Deferred revenue, current 7,188  
Total current liabilities 15,214 8,591
Warrant liability 101,625 9,209
Deferred revenue, non-current 50,060  
Deferred rent 262 153
Total liabilities 167,161 17,953
Commitments and contingencies (Note 7)      
Stockholders' equity (net capital deficiency):    
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: 54,101,725 shares at March 31, 2012 and 49,128,475 shares at December 31, 2011 54 49
Additional paid-in capital 290,159 256,563
Accumulated other comprehensive gain (loss) 1 (1)
Accumulated deficit (367,661) (252,128)
Total stockholders' equity (net capital deficiency) (77,447) 4,483
Total liabilities and stockholders' equity (net capital deficiency) $ 89,714 $ 22,436