Selected Quarterly Financial Data

12 Months Ended

Dec. 31, 2011

Selected Quarterly Financial Data [Abstract]

Selected Quarterly Financial Data

Note 15 — Selected Quarterly Financial Data (Unaudited)

The following table sets forth certain unaudited quarterly financial data. In our opinion, the unaudited information set forth below has been prepared on the same basis as the audited information and includes all adjustments necessary to present fairly the information set forth herein. We have experienced fluctuations in our quarterly results and expect these fluctuations to continue in the future. Due to these and other factors, we believe that quarter-to-quarter comparisons of our operating results will not be meaningful, and you should not rely on our results for any one quarter as an indication of our future performance. Certain items previously reported in specific financial statement captions have been reclassified to conform to the current period presentation. Such reclassifications have not impacted previously reported total revenues, operating loss or net loss. All data is in thousands except per share information.

	Fiscal Year 2011												Fiscal Year 2010
	Q1			Q2			Q3			Q4			Q1			Q2			Q3			Q4
Product sales	$	2,474		$	8,641		$	7,677		$	6,073		$	1,828		$	9,398		$	5,485		$	10,700
Royalty revenues	$	2,319		$	2,367		$	2,545		$	3,095		$	1,756		$	1,756		$	1,745		$	1,999
License, collaboration and other revenue	$	6,506		$	6,323		$	16,846		$	6,614		$	29,653		$	31,409		$	30,695		$	32,615
Total revenue	$	11,299		$	17,331		$	27,068		$	15,782		$	33,237		$	42,563		$	37,925		$	45,314
Gross profit on product sales	$	(789	)	$	501		$	2,639		$	623		$	(2,468	)	$	4,509		$	(760	)	$	463
Research and development expenses	$	30,176		$	32,270		$	31,018		$	33,302		$	23,286		$	25,600		$	27,724		$	31,455
General and administrative expenses	$	11,727		$	11,185		$	12,350		$	11,498		$	9,013		$	10,207		$	10,181		$	11,585
Impairment of long lived assets	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	12,576
Total operating costs and expenses	$	45,166		$	51,595		$	48,406		$	50,250		$	36,595		$	40,696		$	44,150		$	65,853
Operating (loss) income	$	(33,867	)	$	(34,264	)	$	(21,338	)	$	(34,468	)	$	(3,358	)	$	1,867		$	(6,225	)	$	(20,539	)
Interest expense	$	2,585		$	2,570		$	2,543		$	2,525		$	2,951		$	2,909		$	2,826		$	2,488
Net loss	$	(36,034	)	$	(36,381	)	$	(24,068	)	$	(37,495	)	$	(6,130	)	$	(517	)	$	(8,711	)	$	(22,580	)
Basic and diluted net loss per share(1)	$	(0.33	)	$	(0.32	)	$	(0.21	)	$	(0.33	)	$	(0.07	)	$	(0.01	)	$	(0.09	)	$	(0.24	)

(1) Quarterly loss per share amounts may not total to the year-to-date loss per share due to rounding.