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Consolidated Statements of Operations (USD $)
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Revenues:      
Net sales $ 21,998 $ 34,508 $ 39,035
Royalties 6,314,959 2,320,729 1,271,597
Licensing revenue 5,012,102 3,026,111 1,565,125
Consulting fees 46,667 280,000 280,000
Total revenues 11,395,726 5,661,348 3,155,757
Costs and expenses:      
Research and development 972,078 1,223,931 488,646
General and administrative 5,231,881 6,470,449 4,832,019
Total costs and expenses 6,203,959 7,694,380 5,320,665
Operating income (loss) 5,191,767 (2,033,032) (2,164,908)
Other income (expense):      
Interest income 55,780 86,310 55,693
Interest expense 0 0 (39)
Other 15,823 13,130 (8,863)
Qualifying Therapeutic Discovery Grant 0 426,403 0
Total other income (expenses) 71,603 525,843 46,791
Income (loss) before benefit (expense) for income tax 5,263,370 (1,507,189) (2,118,117)
Income tax benefit (expense) 1,338,256 (1,351) 161,574
Net income (loss) $ 6,601,626 $ (1,508,540) $ (1,956,543)
Basic net income (loss) per share (in dollars per share) $ 1.04 $ (0.24) $ (0.32)
Diluted net income (loss) per share (in dollars per share) $ 0.93 $ (0.24) $ (0.32)
Shares used in computation of basic net income (loss) per share (in shares) 6,340,648 6,261,214 6,065,939
Shares used in computation of diluted net income (loss) per share (in shares) 7,107,134 6,261,214 6,065,939