INCOME TAXES	9 Months Ended
Sep. 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 nine month period ended September 30, 2012 net income tax expense was $1.2 million, primarily a non-cash charge. For the nine month period ended September 30, 2012, the valuation allowance with respect to the company's net deferred tax assets remained unchanged. Our remaining deferred tax assets decreased by $0.6 million to approximately $2.4 million, primarily because we used our Orphan Drug Tax Credit to reduce our taxes payable, during nine months ended September 30, 2012. For the nine month period ended September 30, 2011 net income tax benefit was $2.6 million, primarily a non-cash credit. In the 2011 period, we reduced our tax assets valuation allowance and recorded net deferred tax assets of $4.2 million that we believe will more likely than not be realized as we expect to achieve sustained profitability on an on-going annual basis. In making such determination, we considered all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent financial operations.

INCOME TAXES

9 Months Ended

Sep. 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 nine month period ended September 30, 2012 net income tax expense was $1.2 million, primarily a non-cash charge. For the nine month period ended September 30, 2012, the valuation allowance with respect to the company's net deferred tax assets remained unchanged. Our remaining deferred tax assets decreased by $0.6 million to approximately $2.4 million, primarily because we used our Orphan Drug Tax Credit to reduce our taxes payable, during nine months ended September 30, 2012.

For the nine month period ended September 30, 2011 net income tax benefit was $2.6 million, primarily a non-cash credit. In the 2011 period, we reduced our tax assets valuation allowance and recorded net deferred tax assets of $4.2 million that we believe will more likely than not be realized as we expect to achieve sustained profitability on an on-going annual basis. In making such determination, we considered all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent financial operations.