Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2011

Selected Quarterly Financial Data (Unaudited) [Abstract]

Selected Quarterly Financial Data (Unaudited)

Note 16 – Selected Quarterly Financial Data (Unaudited)

The following table contains unaudited statement of operations information for each quarter of 2011 and 2010.  The operating results for any quarter are not necessarily indicative of results for any future period.

2011 Quarters Ended:
(in thousands, except per share data)	Mar. 31			June 30			Sept. 30			Dec. 31			Total Year
Grant Revenues	$	381		$	201		$	–		$	–		$	582
Expenses:
Research and development		4,620			4,615			3,981			4,014			17,230
General and administrative		1,820			1,966			2,189			1,889			7,864
Total expenses		6,440			6,581			6,170			5,903			25,094
Operating loss		(6,059	)		(6,380	)		(6,170	)		(5,903	)		(24,512	)
Change in fair value of common stock warrant liability		2,228			(1,693	)		1,422			1,603			3,560
Other expense, net		(6	)		(3	)		(3	)		(1	)		(13	)
Net loss	$	(3,837	)	$	(8,076	)	$	(4,751	)	$	(4,301	)	$	(20,965	)
Net loss per common share -  basic and diluted	$	(0.21	)	$	(0.34	)	$	(0.20	)	$	(0.18	)	$	(0.93	)
Weighted average number of common shares outstanding		18,114			24,027			24,106			24,309			22,660

2010 Quarters Ended:
(in thousands, except per share data)	Mar. 31			June 30			Sept. 30			Dec. 31			Total Year
Grant Revenues	$	–		$	–		$	–		$	–		$	–
Expenses:
Research and development		4,133			4,363			4,727			3,913			17,136
General and administrative		2,932			1,865			1,476			2,119			8,392
Total expenses		7,065			6,228			6,203			6,032			25,528
Operating loss		(7,065	)		(6,228	)		(6,203	)		(6,032	)		(25,528	)
Change in fair value of common stock warrant liability		1,230			5,519			(365	)		38			6,422
Other expense, net		(223	)		(84	)		(16	)		254			(69	)
Net loss	$	(6,058	)	$	(793	)	$	(6,584	)	$	(5,740	)	$	(19,175	)
Net loss per common share -  basic and diluted	$	($0.66	)	$	(0.07	)	$	(0.51	)	$	(0.42	)	$	(1.65	)
Weighted average number of common shares outstanding		9,180			10,695			12,945			13,525			11,602