Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2013

Selected Quarterly Financial Data (Unaudited) [Abstract]

Selected Quarterly Financial Data (Unaudited)

Note 17 –Selected Quarterly Financial Data (Unaudited)

The following table contains unaudited statement of operations information for each quarter of 2013 and 2012.  The operating results for any quarter are not necessarily indicative of results for any future period.

2013 Quarters Ended:
(in thousands, except per share data)	Mar. 31			June 30			Sept. 30			Dec. 31			Total Year
Grant revenues	$	72		$	182		$	60		$	74		$	388
Expenses:
Cost of sales		–			–			–			517			517
Research and development		8,472			6,863			6,574			5,752			27,661
Selling, General and administrative		4,220			4,129			4,299			4,070			16,718
Total expenses		12,692			10,992			10,873			10,339			44,896
Operating loss		(12,620	)		(10,810	)		(10,813	)		(10,265	)		(44,508	)
Change in fair value of common stock warrant liability		162			2,525			(1,059	)		(867	)		761
Other expense, net		(177	)		(342	)		(352	)		(597	)		(1,468	)
Net loss	$	(12,635	)	$	(8,627	)	$	(12,224	)	$	(11,729	)	$	(45,215	)
Net loss per common share - basic	$	(0.29	)	$	(0.18	)	$	(0.22	)	$	(0.16	)	$	(0.82	)
Net loss per common share - diluted		(0.29	)		(0.22	)		(0.22	)		(0.16	)		(0.82	)
Weighted average number of common shares outstanding - basic		43,657			49,135			54,792			73,129			55,258
Weighted average number of common shares outstanding - diluted		43,657			49,866			54,792			73,129			55,258

2012 Quarters Ended:
(in thousands, except per share data)	Mar. 31			June 30			Sept. 30			Dec. 31			Total Year
Grant Revenues	$	–		$	–		$	–		$	195		$	195
Expenses:
Research and development		4,533			5,206			5,743			6,088			21,570
General and administrative		2,047			3,610			4,255			6,532			16,444
Total expenses		6,580			8,816			9,998			12,620			38,014
Operating loss		(6,580	)		(8,816	)		(9,998	)		(12,425	)		(37,819	)
Change in fair value of common stock warrant liability		(3,434	)		1,680			(3,309	)		5,618			555
Other expense, net		(2	)		(2	)		(39	)		(8	)		(51	)
Net loss	$	(10,016	)	$	(7,138	)	$	(13,346	)	$	(6,815	)	$	( 37,315	)
Net loss per common share -  basic and diluted	$	(0.37	)	$	(0.16	)	$	(0.31	)	$	(0.16	)	$	(0.95	)
Weighted average number of common shares outstanding		27,162			43,369			43,444			43,521			39,396