INCOME TAXES	6 Months Ended
Jun. 30, 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 six month period ended June 30, 2012 net income tax expense was $0.9 million, primarily a non-cash charge. For the six month period ended June 30, 2012, the valuation allowance with respect to the company's net deferred tax assets remained unchanged. Our remaining deferred tax assets decreased by $0.4 million to approximately $2.6 million, primarily because we used our Orphan Drug Tax Credit to reduce our taxes payable, during six months ended June 30, 2012. For the six month period ended June 30, 2011, the valuation allowance reversed by approximately $4.2 million with respect to our net deferred tax assets. 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 June 30, 2011 was approximately $3.1 million.

INCOME TAXES

6 Months Ended

Jun. 30, 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 six month period ended June 30, 2012 net income tax expense was $0.9 million, primarily a non-cash charge. For the six month period ended June 30, 2012, the valuation allowance with respect to the company's net deferred tax assets remained unchanged. Our remaining deferred tax assets decreased by $0.4 million to approximately $2.6 million, primarily because we used our Orphan Drug Tax Credit to reduce our taxes payable, during six months ended June 30, 2012.

For the six month period ended June 30, 2011, the valuation allowance reversed by approximately $4.2 million with respect to our net deferred tax assets. 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 June 30, 2011 was approximately $3.1 million.