INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2013

INCOME TAXES

Schedule of components of income tax expense attributable to continuing operations

	Year Ended December 31,
	2013			2012			2011
	(In thousands)
Income tax benefit (provision):
Federal	$	30,962		$	19,394		$	16,204
State		4,920			4,237			3,131
Foreign		—			—			84
Expiration of Net Operating Losses and Research & Development Tax Credits		(126	)		(1,426	)		(411	)
		35,756			22,205			19,008
Deferred tax valuation allowance		(35,756	)		(22,205	)		(19,008	)
	$	—		$	—		$	—

Schedule of reconciliation between the amount of reported income tax and the amount computed using the U.S. Statutory rate

	2013			2012			2011
	(In thousands)
Pre-tax loss	$	(81,550	)	$	(59,123	)	$	(44,799	)
Loss at Statutory Rates		(27,727	)		(20,102	)		(15,213	)
Research and Development Credits		(3,261	)		—			(1,736	)
State Taxes		(4,920	)		(4,237	)		(3,131	)
Other		26			708			661
Expiration of Net Operating Losses and Research & Development Tax Credits		126			1,426			411
Change in Valuation Allowance		35,756			22,205			19,008
Income tax (benefit) provision	$	—		$	—		$	—

Schedule of principal components of the deferred tax assets and liabilities

	December 31, 2013			December 31, 2012
	(In thousands)
Gross Deferred Tax Assets
Net Operating Loss Carryforwards	$	79,558		$	67,728
Tax Credit Carryforwards		25,582			20,692
Deferred Expenses		61,370			43,226
Stock-based Compensation		3,926			3,264
Fixed Assets		1,638			2,156
Accrued Expenses and Other		623			241
		172,697			137,307
Gross Deferred Tax Liabilities
Other Acquired Intangibles		(4,115	)		(4,481	)
IPR&D Intangibles		(4,661	)		(4,661	)
		(8,776	)		(9,142	)
Total Deferred Tax Assets and Liabilities		163,921			128,165
Deferred Tax Assets Valuation Allowance		(168,582	)		(132,826	)
Net Deferred Tax Asset (Liability)	$	(4,661	)	$	(4,661	)