Quarterly Financial Information (Unaudited)

12 Months Ended

Jun. 30, 2012

Quarterly Financial Information (Unaudited)

Quarterly Financial Information (Unaudited)

J.    Quarterly Financial Information (Unaudited)

	Fiscal Year 2012
	First Quarter Ended September 30, 2011			Second Quarter Ended December 31, 2011			Third Quarter Ended March 31, 2012			Fourth Quarter Ended June 30, 2012
	(In thousands, except per share data)
Revenues:
Research and development support	$	1,068		$	945		$	1,320		$	1,184
License and milestone fees		1,187			6,025			999			950
Clinical materials revenue		281			647			933			818
Total revenues		2,536			7,617			3,252			2,952
Expenses:
Research and development		17,161			15,559			16,933			19,539
General and administrative		4,841			4,834			5,021			5,726
Total expenses		22,002			20,393			21,954			25,265
Loss from operations		(19,466	)		(12,776	)		(18,702	)		(22,313	)
Other (expense) income, net		(17	)		23			33			(101	)
Loss before income tax expense		(19,483	)		(12,753	)		(18,669	)		(22,414	)
Income tax expense		—			—			—			—
Net loss	$	(19,483	)	$	(12,753	)	$	(18,669	)	$	(22,414	)
Basic and diluted net loss per common share	$	(0.26	)	$	(0.17	)	$	(0.24	)	$	(0.29	)

	Fiscal Year 2011
	First Quarter Ended September 30, 2010			Second Quarter Ended December 31, 2010			Third Quarter Ended March 31, 2011			Fourth Quarter Ended June 30, 2011
	(In thousands, except per share data)
Revenues:
Research and development support	$	1,495		$	2,005		$	2,190		$	1,566
License and milestone fees		1,810			866			858			2,859
Clinical materials reimbursement		106			1,307			2,163			2,080
Total revenues		3,411			4,178			5,211			6,505
Expenses:
Research and development		13,425			16,004			15,763			18,261
General and administrative		3,364			3,688			4,550			4,438
Total expenses		16,789			19,692			20,313			22,699
Loss from operations		(13,378	)		(15,514	)		(15,102	)		(16,194	)
Other income, net		490			1,281			99			44
Loss before income tax expense		(12,888	)		(14,233	)		(15,003	)		(16,150	)
Income tax expense		—			—			—			—
Net loss	$	(12,888	)	$	(14,233	)	$	(15,003	)	$	(16,150	)
Basic and diluted net loss per common share	$	(0.19	)	$	(0.21	)	$	(0.22	)	$	(0.23	)