INCOME TAXES	3 Months Ended
Mar. 31, 2012
INCOME TAXES [Abstract]
INCOME TAXES	7. INCOME TAXES The significant components of the Company's deferred tax assets, pursuant to Accounting Standards Codification 740-10-50 consist of net operating losses, orphan tax credits, stock-based compensation and deferred revenues. For the three month period ended March 31, 2012 net income tax expense was $0.5 million, primarily a non-cash charge. For the three month period ended March 31, 2012, the valuation allowance with respect to the company's net deferred tax assets remained unchanged. As of March 31, 2012, our remaining deferred tax assets decreased by $0.3 million to approximately $2.8 million. For the three month period ended March 31, 2011, the valuation allowance reversed by approximately $3.6 million with respect to our net deferred tax assets and corresponding tax benefit reduced our statutory federal tax rate of 34% and resulted in net benefit of $3.5 million. We determined that it was more likely than not that these deferred tax assets would be realized based on our projected annual profitability of operations driven by our revenues under the Auxilium Agreement. The remaining balance of deferred tax assets as of March 31, 2011 was approximately $3.5 million.

INCOME TAXES

3 Months Ended

Mar. 31, 2012

7. INCOME TAXES

The significant components of the Company's deferred tax assets, pursuant to Accounting Standards Codification 740-10-50 consist of net operating losses, orphan tax credits, stock-based compensation and deferred revenues. For the three month period ended March 31, 2012 net income tax expense was $0.5 million, primarily a non-cash charge. For the three month period ended March 31, 2012, the valuation allowance with respect to the company's net deferred tax assets remained unchanged. As of March 31, 2012, our remaining deferred tax assets decreased by $0.3 million to approximately $2.8 million.

For the three month period ended March 31, 2011, the valuation allowance reversed by approximately $3.6 million with respect to our net deferred tax assets and corresponding tax benefit reduced our statutory federal tax rate of 34% and resulted in net benefit of $3.5 million. We determined that it was more likely than not that these deferred tax assets would be realized based on our projected annual profitability of operations driven by our revenues under the Auxilium Agreement. The remaining balance of deferred tax assets as of March 31, 2011 was approximately $3.5 million.