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CONDENSED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenues        
Sanofi collaboration revenue $ 84,446 $ 84,941 $ 169,775 $ 153,612
Other collaboration revenue 11,123 13,635 23,604 26,722
Technology licensing 5,228 10,037 13,073 20,075
Net product sales 5,039 5,197 9,466 15,049
Contract research and other 1,974 2,076 4,096 3,962
Total revenues 107,810 115,886 220,014 219,420
Expenses        
Research and development 143,149 124,526 272,541 241,997
Selling, general, and administrative 24,585 14,679 47,996 28,902
Cost of goods sold 395 405 777 1,122
Total expenses 168,129 139,610 321,314 272,021
Loss from operations (60,319) (23,724) (101,300) (52,601)
Other income (expense)        
Investment income 998 592 2,035 1,031
Interest expense (4,047) (2,342) (7,766) (4,426)
Total other income (expense) (3,049) (1,750) (5,731) (3,395)
Net loss before income tax benefit (63,368) (25,474) (107,031) (55,996)
Income tax benefit (863) 0 (1,079) 0
Net loss $ (62,505) $ (25,474) $ (105,952) $ (55,996)
Net loss per share, basic and diluted $ (0.69) $ (0.31) $ (1.18) $ (0.69)
Weighted average shares outstanding, basic and diluted 90,436 81,492 89,799 81,330