Net Income (Loss) Per Common Share

9 Months Ended

Sep. 30, 2012

Net Income (Loss) Per Common Share [Abstract]

NET INCOME (LOSS) PER COMMON SHARE

3. NET INCOME (LOSS) PER COMMON SHARE

Basic net income (loss) per common share is computed by dividing the net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share is computed by dividing the net income (loss) available to common stockholders by the weighted average number of common shares and other potential common shares then outstanding. Potential common shares consist of common shares issuable upon the assumed exercise of outstanding stock options (using the treasury stock method) and the issuance of contingently issuable shares subject to Novartis’ stock subscription rights (Note 4) and restricted stock awards.

	Three Months Ended September 30, 2012
	Income (Numerator)		Shares (Denominator)		Amount per Share
	In Thousands, Except per Share Data
Basic EPS:
Income available to common stockholders	$	4,271		124,770	$	0.03
Effect of Dilutive Securities:
Options		—		1,676
Contingently issuable shares to related party		—		401
Diluted EPS:
Income available to common stockholders	$	4,271		126,847	$	0.03

There were no common shares excluded from the calculation of diluted net income per common share as of the three months ended September 30, 2012.

	Three Months Ended September 30, 2011
	(In Thousands, Except per Share Data)
Basic and diluted net loss per common share:
Net loss	$	(11,709	)
Basic and diluted weighted average number of common shares outstanding		96,133
Basic and diluted net loss per common share	$	(0.12	)

The following potential common shares were excluded from the calculation of basic and diluted net loss per common share for the three months ended September 30, 2011 because their effect was anti-dilutive:

	Three Months Ended September 30, 2011
	(In Thousands)
Options		7,804
Contingently issuable shares to related party		1,714
		9,518

	Nine Months Ended September 30,
	2012			2011
	(In Thousands, Except per Share Data)
Basic and diluted net loss per common share:
Net loss	$	(9,674	)	$	(33,854	)
Basic and diluted weighted average number of common shares outstanding		113,671			87,414
Basic and diluted net loss per common share	$	(0.09	)	$	(0.39	)

The following potential common shares were excluded from the calculation of basic and diluted net loss per common share for the nine months ended September 30, 2012 and 2011 because their effect was anti-dilutive:

	Nine Months Ended September 30,
	2012		2011
	(In Thousands)
Options		7,666		7,804
Contingently issuable shares to related party		709		1,714
		8,375		9,518

In addition to the contingently issuable shares to related party listed in the tables above, Novartis could be entitled to additional shares under its stock subscription rights which would be anti-dilutive in future periods based on our current stock price.