Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Reconciliation of the Federal Statutory Corporate Income Tax Rate to the Effective Income Tax Rate

A reconciliation of the federal statutory corporate income tax rate to the effective income tax rate for the years ended December 31, 2011, 2010 and 2009 is as follows:

	2011		2010		2009
Statutory federal income tax rate	(35	)%	35	%	(35	)%
State income tax rate, net of federal benefit	(4	)	5		(6	)
Revaluation of warrant liability	13		8		3
Other permanent differences	---		1		1
Change in valuation allowance	26		(49	)	37
Effective tax rate	0	%	0	%	0	%

Components of Deferred Income Taxes

The components of deferred income taxes were as follows at December 31:

In thousands	2011			2010
Deferred tax liabilities:
Intangibles	$	2,385		$	2,813
Deferred tax assets:
Net operating loss carryforwards		161,951			134,065
Federal and state tax credit carryovers		23,380			24,489
Depreciation		4,924			4,837
Stock-based compensation		3,420			3,122
Other		2,158			1,289
Total deferred tax assets		195,833			167,802
Deferred tax assets, net		193,448			164,989
Valuation allowance		(193,448	)		(164,989	)
Total deferred taxes	$	---		$	---

Estimated Net Operating Loss and Research and Development Credit Carryforwards

At December 31, 2011, the Company had available estimated net operating loss carryforwards and research and development credit carryforwards for federal and state tax reporting purposes as follows:

	Amount		Expiring if not utilized
	(in 000s)
Net operating loss carryforwards:
Federal	$	457,459	2012 through 2031
State	$	79,197	2012 through 2016
Research and development credit carryforwards:
Federal	$	18,448	2012 through 2031
State	$	7,588	2012 through 2026