Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2012

Selected Quarterly Financial Data (Unaudited)

12. Selected Quarterly Financial Data (Unaudited)

The following table contains consolidated statements of operations information for each of the previous eight quarters. The Company believes that the following information reflects all normal recurring adjustments necessary for a fair presentation of the information for the periods presented. The operating results for any quarter are not necessarily indicative of results for any future period.

	December 31, 2012			September 30, 2012			June 30, 2012			March 31, 2012			December 31, 2011			September 30, 2011		June 30, 2011			March 31, 2011
	(in thousands, except per share amounts)
Revenue:
Product revenue	$	9,710		$	11,123		$	11,659		$	9,342		$	3,114		$	5,742	$	4,359		$	3,150
Royalty and other revenue		9,104			3,981			3,865			3,482			4,051			2,889		3,295			2,756
Total revenue		18,814			15,104			15,524			12,824			7,165			8,631		7,654			5,906
Operating expenses:
Cost of product revenue		5,920			6,419			7,345			5,273			1,511			2,093		1,553			1,393
Cost of royalty and other revenue		620			594			537			462			481			418		416			376
Research and development		2,343			2,433			2,906			2,808			2,870			3,075		3,517			3,785
Selling, general and administrative		3,253			3,126			3,418			3,428			4,268			2,493		2,289			2,438
Contingent consideration – fair value adjustments		267			344			—			—			(427	)		—		—			—
Gain on bargain purchase		—			—			—			(314	)		(427	)		—		—			—
Total operating expenses		12,403			12,916			14,206			11,657			8,703			8,079		7,775			7,992
Income (loss) from operations		6,411			2,188			1,318			1,167			(1,538	)		552		(121	)		(2,086	)
Investment income		62			95			29			31			43			53		66			69
Interest expense		(14	)		7			(27	)		(22	)		(28	)		—		—			(13	)
Other income (expense)		(41	)		(500	)		458			109			(623	)		—		—			—
Income (loss) before income taxes		6,418			1,790			1,778			1,285			(2,146	)		605		(55	)		(2,030	)
Income tax provision (benefit)		(3,135	)		(16	)		208			59			16			—		—			—
Net income (loss)	$	9,553		$	1,806		$	1,570		$	1,226		$	(2,162	)	$	605	$	(55	)	$	(2,030	)
Earnings (loss) per share:
Basic	$	0.31		$	0.06		$	0.05		$	0.04		$	(0.07	)	$	0.02	$	(0.00	)	$	(0.06	)
Diluted	$	0.30		$	0.06		$	0.05		$	0.04		$	(0.07	)	$	0.02	$	(0.00	)	$	(0.06	)
Weighted average shares outstanding:
Basic		31,132			30,948			30,845			30,730			30,715			30,797		30,812			30,782
Diluted		31,600			31,256			31,149			31,010			30,715			30,934		30,812			30,782