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Statements Of Operations (USD $)
In Thousands, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Operating revenues:        
Milestones and license fees from collaborations $ 20,699 $ 20,704 $ 59,621 $ 39,793
Grant revenue 44 198 116 627
Net operating revenues 20,743 20,902 59,737 40,420
Operating expenses:        
Research and development (including stock-based compensation of $1,257 and $748 for the three months ended June 30, 2011 and 2010, respectively and $2,494 and $1,515 for the six months ended June 30, 2011 and 2010, respectively) 20,185 14,122 43,702 24,729
General and administrative (including stock-based compensation of $943 and $493 for the three months ended June 30, 2011 and 2010, respectively and $1,869 and $963 for the six months ended June 30, 2011 and 2010, respectively) 3,129 1,814 6,304 3,636
Total operating expenses 23,314 15,936 50,006 28,365
(Loss) income from operations (2,571) 4,966 9,731 12,055
Other income (expense):        
Interest income 343 366 659 740
Interest expense (29) (38) (60) (80)
Total other income (expense) 314 328 599 660
(Loss) income before income taxes (2,257) 5,294 10,330 12,715
Income tax expense   (1,512)   (2,138)
Net (loss) income $ (2,257) $ 3,782 $ 10,330 $ 10,577
Basic net (loss) income per share $ (0.07) $ 0.13 $ 0.35 $ 0.37
Diluted net (loss) income per share $ (0.07) $ 0.13 $ 0.33 $ 0.35
Weighted average common shares outstanding - basic 30,725,227 28,509,619 29,865,420 28,411,083
Weighted average common shares outstanding - diluted 30,725,227 30,152,309 31,207,325 30,082,275