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
Sep. 30, 2012
Dec. 31, 2011
Current assets:    
Cash and cash equivalents $ 8,634 $ 5,882
Marketable securities 57,191 14,408
Collaboration receivable 17,457  
Prepaid expenses and other current assets 1,149 254
Total current assets 84,431 20,544
Property and equipment, net 728 543
Other assets 1,059 1,349
Total assets 86,218 22,436
Current liabilities:    
Accounts payable 739 2,389
Accrued clinical and development expenses 6,445 4,465
Accrued liabilities 1,817 1,737
Deferred revenue, current 7,188  
Total current liabilities 16,189 8,591
Warrant liability 67,373 9,209
Deferred revenue, non-current 46,467  
Deferred rent 273 153
Total liabilities 130,302 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: 56,216,122 shares at September 30, 2012 and 49,128,475 shares at December 31, 2011 56 49
Additional paid-in capital 307,497 256,563
Accumulated other comprehensive gain (loss) 14 (1)
Accumulated deficit (351,651) (252,128)
Total stockholders' equity (net capital deficiency) (44,084) 4,483
Total liabilities and stockholders' equity (net capital deficiency) $ 86,218 $ 22,436