Quarterly Information

12 Months Ended

Dec. 31, 2011

14. Unaudited Quarterly Information

Certain unaudited quarterly financial information for the years ended December 31, 2011 and 2010 is presented below:


	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
	(In thousands, except per share amounts)
2011
Product revenue	$	575		$	486		$	763		$	801
Collaboration revenue	$	2,595		$	1,997		$	2,128		$	2,158
Net loss	$	(13,363	)	$	(14,567	)	$	(11,375	)	$	(10,240	)
Basic and diluted net loss per share	$	(0.75	)	$	(0.81	)	$	(0.43	)	$	(0.34	)

2010
Product revenue	$	—		$	33		$	197		$	458
Collaboration revenue	$	1,786		$	2,051		$	1,854		$	1,887
Net loss	$	(9,163	)	$	(10,233	)	$	(12,760	)	$	(12,360	)
Basic and diluted net loss per share	$	(0.52	)	$	(0.58	)	$	(0.72	)	$	(0.69	)

- 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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