11. Warrants (Tables)

4 Months Ended

Dec. 31, 2012

Warrants Tables

Schedule of common stock warrants outstanding

	Number of shares exercisable		Exercise price			Expiration date
Issued in connection with Encode merger		233	$	2.87		12/13/2015
Issued to placement agents in May / June 2008		433	$	2.36		5/21/2013
Issued to placement agents in August 2009		65	$	1.50		8/21/2014
TorreyPines warrants assumed in 2009 Merger		8	$	80.86	*	6/11/2013-9/26/2015
Issued to registered direct investors in Dec. 2009		631	$	2.45		12/22/2014
Issued to private placement investors in Aug. 2010		3,095	$	3.075		8/12/2015
Issued to placement agent in Aug. 2010		98	$	3.075		8/12/2015
Total warrants outstanding		4,563	$	3.03	*

Schedule of assumptions used in fair value of warrrants

										August 2010 private placement
	December 2009 equity financing									Investors and placement agent
				August 31,									August 31,
	December 31, 2012			2012			2011			December 31, 2012			2012			2011
Fair value ($ millions)	$	2.6		$	2.9		$	5.9		$	13.8		$	14.4		$	17.7
Black-Scholes inputs:
Stock price	$	5.85		$	4.97		$	4.73		$	5.85		$	4.97		$	4.73
Exercise price	$	2.45		$	2.45		$	2.45		$	3.075		$	3.075		$	3.075
Risk free interest rate		0.25	%		0.22	%		0.38	%		0.31	%		0.3	%		0.7	%
Volatility		100	%		125	%		116	%		112	%		125	%		116	%
Expected term (years)		2.00			2.25			3.25			2.5			3			4
Dividend		0			0			0			0			0			0