Annual report pursuant to Section 13 and 15(d)

BALANCE SHEETS

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BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
Current assets:    
Cash and cash equivalents $ 33,484 $ 18,633
Available-for-sale securities 264,757 229,007
Prepaid expenses and other current assets 4,217 2,593
Total current assets 302,458 250,233
Property and equipment, net 5,826 4,882
Other assets 1,759 1,991
Total assets 310,043 257,106
Current liabilities:    
Accounts payable 1,697 1,556
Accrued compensation 6,775 7,271
Accrued research and development 2,124 2,067
Other accrued liabilities 942 504
Deferred rent 666 129
Total current liabilities 12,204 11,527
Long-term portion of deferred rent 8,647 9,313
Other long-term liabilities 96 117
Commitments and contingencies      
Stockholders' equity:    
Preferred stock, $0.001 par value; 10,000,000 shares authorized; none issued and outstanding as of December 31, 2012 and 2011      
Common stock, $0.001 par value; 200,000,000 shares authorized; 87,140,632 and 71,379,052 shares issued and outstanding as of December 31, 2012 and 2011, respectively 87 71
Additional paid-in capital 1,049,174 897,479
Accumulated other comprehensive income 82 6
Accumulated deficit (760,247) (661,407)
Total stockholders' equity 289,096 236,149
Total liabilities and stockholders' equity $ 310,043 $ 257,106