SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

12 Months Ended

Dec. 31, 2012

SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

15. SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
	(In thousands, except per share amounts)
Year Ended December 31, 2012
Revenues	$	1,254		$	130		$	636		$	689
Operating expenses(1)		20,172			18,609			16,513			19,173
Net loss		(18,739	)		(18,326	)		(15,953	)		(15,863	)
Basic and diluted net loss per share	$	(0.15	)	$	(0.14	)	$	(0.13	)	$	(0.12	)
Year Ended December 31, 2011
Revenues	$	1,505		$	462		$	220		$	251
Operating expenses(2)		25,861			21,878			20,156			30,659
Net loss		(24,389	)		(21,088	)		(19,522	)		(31,854	)
Basic and diluted net loss per share	$	(0.20	)	$	(0.17	)	$	(0.16	)	$	(0.25	)

(1)

The fourth quarter of 2012 includes approximately $2,702,000 in restructuring charges in connection with the decision to discontinue development of GRN1005 and focus on the development of imetelstat. See Note 7 on Restructurings.

(2)

The fourth quarter of 2011 includes approximately $5,449,000 in restructuring charges in connection with the decision to focus on the development of our oncology programs and discontinue further development of our stem cell programs. See Note 7 on Restructurings.

        Basic and diluted net losses per share are computed independently for each of the quarters presented. Therefore, the sum of the quarters may not be equal to the full year net loss per share amounts.