Quarterly Financial Information (unaudited)

12 Months Ended

Dec. 31, 2012

Quarterly Financial Information (unaudited)

Quarterly Financial Information (unaudited)

18. Quarterly Financial Information (unaudited)

Quarterly financial information for fiscal 2012 and 2011 are presented in the following table, in thousands, except per share data:

	1st Quarter			2nd Quarter			3rd Quarter			4th Quarter
2012
Revenue	$	208		$	91		$	91		$	1,090
Total costs and expenses		8,086			9,348			12,381			13,834
Loss from operations		(9,277	)		(10,013	)		(13,482	)		(13,512	)
Net loss		(9,277	)		(10,013	)		(13,482	)		(13,512	)
Net loss per share, basic and diluted		(6.05	)		(0.61	)		(0.55	)		(0.51	)
2011
Revenue	$	—		$	750		$	11		$	42
Total costs and expenses		9,198			9,146			9,926			10,285
(Loss) income from continuing operations		(9,715	)		(8,940	)		(10,151	)		5,581
(Loss) income from discontinued operations		(1,334	)		1,563			417			76,394
Net (loss) income		(11,049	)		(7,377	)		(9,734	)		81,975
Net (loss) income per share, basic, continuing operations		(6.64	)		(6.15	)		(6.90	)		2.88
Net (loss) income per share, basic, discontinued operations		(0.84	)		0.98			0.26			46.64
Net (loss) income per share, diluted, continuing operations		(6.64	)		(6.15	)		(6.90	)		2.34
Net (loss) income per share, diluted, discontinued operations		(0.84	)		0.98			0.26			37.80

For the quarter ended December 31, 2011 reported a net income from continuing operations of $5.6 million. This resulted from a net loss from continuing operations of $10.6 million offset by a tax benefit of $16.2 million from the sale of TCD Royalty sub (see Note 10).