Quarterly Summarized Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2012

Quarterly Summarized Financial Information (Unaudited)

(15)    Quarterly Summarized Financial Information (Unaudited)

	Fiscal year ended December 31, 2012
	1st Quarter			2nd Quarter			3rd Quarter			4th Quarter
	(In thousands, except per share amounts)
Revenue	$	—		$	—		$	—		$	—
Net loss		(88,285	)		(53,904	)		(26,426	)		(10,569	)
Net loss per share:
Basic	$	(0.65	)	$	(0.38	)	$	(0.18	)	$	(0.07	)
Diluted	$	(0.65	)	$	(0.38	)	$	(0.18	)	$	(0.07	)

	Fiscal year ended December 31, 2011
	1st Quarter		2nd Quarter			3rd Quarter		4th Quarter
	(In thousands, except per share amounts)
Revenue	$	—	$	—		$	—	$	—
Net income (loss) (1)		18,294		(202,103	)		96,345		18,338
Net income (loss) per share:
Basic	$	0.15	$	(1.58	)	$	0.72	$	0.14
Diluted	$	0.12	$	(1.58	)	$	0.62	$	0.12

(1) The net income generated in the first, third and fourth quarters of 2011 were due to the change in the fair value of the warrant derivative liability at each respective quarterly reporting period in 2011. As a result of a decrease in the Company’s stock price at each respective quarter end versus the previous quarter end, the value of the derivative liability decreased, resulting in non-cash income for change in the fair value of the warrant derivative. The loss in the second quarter of 2011 was also due primarily to the change in the fair value of the warrant derivative liability, which was due to the Company’s stock price increasing in value at June 30, 2011, versus March 31, 2011.