Quarterly report pursuant to Section 13 or 15(d)

CONDENSED BALANCE SHEETS

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CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 17,290 $ 15,203
Short-term investments 126,652 127,956
Accounts receivable 350 5,750
Prepaid and other current assets 1,230 1,628
Total current assets 145,522 150,537
Property and equipment, net 1,810 2,509
Other assets 1,021 1,089
Total assets 148,353 154,135
Current liabilities:    
Accounts payable 1,096 1,613
Accrued compensation 4,000 2,832
Accrued research and development 4,293 3,993
Other accrued liabilities 545 534
Deferred revenue, current portion 19,335  
Deferred liability - sublease, current portion 2,902 2,803
Deferred rent, current portion 2,003 2,250
Total current liabilities 34,174 14,025
Long - term portion of deferred revenue 3,760  
Long-term portion of deferred liability - sublease 4,989 6,466
Long-term portion of deferred rent 4,240 5,347
Other long-term liabilities $ 39 $ 51
Commitments    
Stockholders' equity:    
Preferred stock    
Common stock $ 88 $ 88
Additional paid-in capital 1,073,339 1,068,347
Accumulated other comprehensive income (loss) 11 (7)
Accumulated deficit (972,287) (940,182)
Total stockholders' equity 101,151 128,246
Total liabilities and stockholders' equity $ 148,353 $ 154,135