FINANCIAL INFORMATION BY QUARTER (UNAUDITED)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

FINANCIAL INFORMATION BY QUARTER (UNAUDITED)

19. FINANCIAL INFORMATION BY QUARTER (UNAUDITED)

	2014 for Quarter Ended
	December 31			September 30			June 30			March 31
	(in thousands)
Revenue from research contracts and other grants	$	27		$	1,059		$	2,583		$	6,088
Operating expenses:
Research and development		30,832			21,852			20,641			20,906
General and administrative		13,917			12,882			12,213			10,303
Total operating expenses		44,749			34,734			32,854			31,209
Operating loss		(44,722	)		(33,675	)		(30,271	)		(25,121	)
Other income (loss):
Interest income and other, net		306			193			181			99
Gain (loss) on change in warrant valuation		—			4,256			(3,784	)		(3,251	)
Total other income (loss)		306			4,449			(3,603	)		(3,152	)
Net loss	$	(44,416	)	$	(29,226	)	$	(33,874	)	$	(28,273	)
Net loss per share—basic and diluted	$	(1.08	)	$	(0.71	)	$	(0.85	)	$	(0.75	)
Shares used in per share calculations—basic and diluted		41,304			41,066			39,862			37,821

	2013 for Quarter Ended
	December 31			September 30			June 30			March 31
	(in thousands)
Revenue from research contracts and other grants	$	2,626		$	4,168		$	2,951		$	4,474
Operating expenses:
Research and development		25,076			21,087			12,984			13,762
General and administrative		10,399			8,014			7,054			6,127
Total operating expenses		35,475			29,101			20,038			19,889
Operating loss		(32,849	)		(24,933	)		(17,087	)		(15,415	)
Other income (loss):
Interest income (expense) and other, net		45			63			(19	)		237
Gain (loss) on change in warrant valuation		23,984			(17,160	)		(1,945	)		(26,906	)
Total other income (loss)		24,029			(17,097	)		(1,964	)		(26,669	)
Net loss	$	(8,820	)	$	(42,030	)	$	(19,051	)	$	(42,084	)
Net loss per share—basic and diluted	$	(0.23	)	$	(1.24	)	$	(0.60	)	$	(1.32	)
Shares used in per share calculations—basic and diluted		37,596			33,943			31,984			31,813