Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF OPERATIONS

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CONDENSED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Contract revenues from collaborations $ 1,500 $ 395 $ 2,250 $ 395
Costs and expenses:        
Research and development 20,924 17,109 38,828 32,215
General and administrative 5,458 4,843 11,614 10,597
Total costs and expenses 26,382 21,952 50,442 42,812
Loss from operations (24,882) (21,557) (48,192) (42,417)
Interest income 144 90 280 180
Interest expense   (7)   (18)
Net loss $ (24,738) $ (21,474) $ (47,912) $ (42,255)
Net loss per share        
Basic (in dollars per share) $ (0.35) $ (0.37) $ (0.67) $ (0.76)
Diluted (in dollars per share) $ (0.35) $ (0.37) $ (0.67) $ (0.76)
Weighted average shares used in computing net loss per share        
Basic (in shares) 71,458 58,272 71,440 55,290
Diluted (in shares) 71,458 58,272 71,440 55,290