Consolidated Quarterly Financial Data-Unaudited

12 Months Ended

Dec. 31, 2011

Consolidated Quarterly Financial Data-Unaudited

Consolidated Quarterly Financial Data-Unaudited

P.     Consolidated Quarterly Financial Data—Unaudited

        The following tables provide unaudited consolidated quarterly financial data for the years ended December 31, 2011 and 2010 (in thousands, except per share data):

	March 31, 2011			June 30, 2011			September 30, 2011			December 31, 2011
Product sales, net	$	11,022		$	13,081		$	15,802	(a)	$	12,908
License fee and other collaboration revenues		2,327			2,288			1,707			1,999
Royalties		36			33			46			—
Total revenues		13,385			15,402			17,555			14,907
Cost of product sales		3,041			2,082			2,669			2,739
Operating expenses		33,200			33,521			32,124			28,158
Restructuring expenses(b)		—			—			—			3,508
Interest and dividend income, net		560			452			378			357
Gains (losses) on investments, net		1			(209	)		14			1
Income tax benefit		—			396			215			559
Net loss	$	(22,295	)	$	(19,562	)	$	(16,631	)	$	(18,581	)
Net loss per share—basic and diluted	$	(1.05	)	$	(0.92	)	$	(0.78	)	$	(0.87	)

	March 31, 2010			June 30, 2010			September 30, 2010			December 31, 2010
Product sales, net	$	13,295		$	16,226		$	15,173		$	15,284
License fee and other collaboration revenues(c)		—			2,529			1,684			1,919
Royalties		11			72			35			17
Total revenues		13,306			18,827			16,892			17,220
Cost of product sales		1,010			1,884			2,274			2,438
Operating expenses		35,824			38,788			32,017			32,772
Restructuring expenses(b)		—			—			—			2,224
Interest and dividend income, net		471			404			448			418
Gains (losses) on investments, net		4			794			(396	)		6
Fair value adjustment of settlement rights		—			(788	)		—			—
Income tax benefit		—			111			351			10
Net loss	$	(23,053	)	$	(21,324	)	$	(16,996	)	$	(19,780	)
Net loss per share—basic and diluted	$	(1.15	)	$	(1.01	)	$	(0.81	)	$	(0.94	)

        Quarterly loss per share totals differ from annual loss per share totals due to rounding.

        (a)   In the quarter ended September 30, 2011, we revised our estimated Medicaid utilization, which resulted in a $2.5 million reduction of our estimated Medicaid rebate reserve related to Feraheme sales in 2009 and 2010.

        (b)   In April 2010, we received a $60.0 million upfront payment in connection with our collaboration agreement with Takeda.

        (c)   In each of November 2011 and October 2010 we carried out a corporate restructuring pursuant to which we reduced our workforce by approximately 25% and 24%, respectively, as of such dates, and in both instances, we incurred charges related to employee severance and other related costs.