Summary Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Sep. 30, 2011

Quarterly Financial Information Disclosure [Abstract]

Summary Selected Quarterly Financial Data (Unaudited)

14. Summary Selected Quarterly Financial Data (Unaudited)

The following table sets forth certain unaudited quarterly statement of operations data for the eight quarters ended September 30, 2011. This information is unaudited, but in the opinion of management, it has been prepared substantially on the same basis as the audited financial statements and all necessary adjustments, consisting only of normal recurring adjustments, have been included in the amounts stated below to state fairly the unaudited quarterly results of operations. The results of operations for any quarter are not necessarily indicative of the results of operations for any future period.

Quarter Ended
(in thousands, except share and per share amounts)

    December 31,
2010     March 31,
2011     June 30,
2011     September 30,
2011

Revenue
              $ —           $ —           $ —           $ —

Net Profit (loss)
              $ (5,309 )         $ (5,442 )         $ (3,974 )         $ 4,133

Basic net loss per common share⁽¹⁾
              $ (0.20 )         $ (0.21 )         $ (0.12 )         $ 0.11

Diluted net loss per common share
              $ (0.20 )         $ (0.21 )         $ (0.12 )         $ 0.10

Weighted average common shares basic
                 26,419,105             26,469,890             33,017,859             38,631,390

Weighted average common shares diluted
                 26,419,105             26,469,890             33,017,859             40,445,334

Quarter Ended
(in thousands, except share and per share amounts)

    December 31,
2009     March 31,
2010     June 30,
2010     September 30,
2010

Revenue
              $ —           $ —           $ —           $ —

Net loss
              $ (11,148 )         $ (10,409 )         $ (8,629 )         $ (8,104 )

Basic and diluted net loss per common share
              $ (0.47 )         $ (0.44 )         $ (0.36 )         $ (0.31 )

Weighted average common shares basic and diluted
                 23,848,855             23,885,856             23,944,386             24,961,083

(1)
Basic earnings per share calculation for the third and fourth quarter include the weighted average effect of stock issuances; therefore, the sum of the quarterly earnings per share will not equal full-year earnings per share amounts which reflect the weighted average effect on an annual basis.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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