XML 38 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Operation (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
REVENUES        
Net product revenues (including amounts from related party: nine months 2012 - $3,590,073; 2011 - $1,513,296; three months 2012 - $1,426,890; 2011 - $574,956) $ 5,620,889 $ 4,129,112 $ 16,101,350 $ 12,536,141
Royalties (including amounts from related party: nine months 2012 - $2,232,397; 2011 - $1,845,154; three months 2012 - $904,839; 2011 - $702.336) 1,017,609 782,694 2,532,197 2,070,226
Other revenues (including amounts from related party: nine months 2012 - $0; 2011 - $21,974,383; three months 2012 - $0 ; 2011 - $0) 34,540 34,888 103,568 22,078,785
Total net revenues 6,673,038 4,946,694 18,737,115 36,685,152
COST OF PRODUCT REVENUES        
Cost of product revenues (including amounts from related party: nine months 2012 - $3,263,376; 2011 - $1,453,720; three months 2012 - $1,297,043; 2011 - $636,232) 3,186,792 3,124,284 9,655,624 8,161,210
Gross profit 3,486,246 1,822,410 9,081,491 28,523,942
OPERATING EXPENSES:        
Selling and distribution 0 0 0 87,669
General and administrative 1,901,880 1,908,616 6,376,561 6,765,420
Research and development (net of reimbursement from related party:        
Research and development (net of reimbursement from related party: nine months 2012 - $435,199; 2011 - $2,690,163; three months 2012 - $3,092; 2011 - $474,987) 143,795 508,884 856,545 2,362,434
Net gain on U.S. sale of STRIANT 0 0 0 (2,533,127)
Total operating expenses 2,045,675 2,417,500 7,233,106 6,682,396
Income from operations 1,440,571 (595,090) 1,848,385 21,841,546
OTHER INCOME (EXPENSE):        
Interest income 58,339 31,868 181,084 36,395
Interest expense (22,459) (3,887) (22,459) (11,663)
Change in fair value of redeemable warrants 0 0 0 (2,721,205)
Change in fair value of stock warrants (1,065,498) 5,050,520 5,399,569 2,790,337
Other, net (19,882) (32,964) (115,629) (353,151)
Total other income (expense) (1,049,500) 5,045,537 5,442,565 (259,287)
Income before taxes 391,071 4,450,447 7,290,950 21,582,259
Provision for income taxes (2,342) (33,206) (5,018) (37,710)
NET INCOME $ 388,729 $ 4,417,241 $ 7,285,932 $ 21,544,549
NET INCOME PER COMMON SHARE:        
Basic (in dollars per share) $ 0.00 $ 0.05 $ 0.08 $ 0.25
Diluted (in dollars per share) $ 0.00 $ (0.01) $ 0.02 $ 0.20
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:        
Basic (in shares) 87,330,865 87,269,433 87,310,752 85,998,197
Diluted (in shares) 88,542,827 89,240,246 88,451,364 92,561,710