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Condensed Consolidated Statement of Operations
(in thousands, except per share data)
Three Months EndedSix Months EndedJune 30,June 30(unaudited)(unaudited)2012201120122011Revenue from collaborative arrangement and grants $
8211;$
201$
8211;$
582Operating expenses: (1)Research and development5,2064,6159,7399,235Selling, general and administrative3,6101,9665,6573,786Total expenses
8,8166,58115,39613,021Operating loss(8,816)(6,380)(15,396)(12,439)Change in fair value of common stock warrant liability (1)1,680(1,693)(1,754)535Other income / (expense), net(2)(3)(4)(9)Net loss $
(7,138)$
(8,076)$
(17,154)$
(11,913)Net loss per common share$
(0.16)$
(0.34)$
(0.49)$
(0.56)Weighted avg. common shares outstanding43,36924,02735,32521,086(1) Material non-cash items include the change in fair value of certain outstanding warrants accounted for as derivative liabilities, and in operating expenses, depreciation and stock-based compensation. For the three and six months ended June 30, 2012, the charges for depreciation and stock-based compensation were $0.7 million ($0.4 million in R&D and $0.3 million in S,G&A) and $1.4 million ($0.8 million in R&D and $0.6 million in S,G&A), respectively. For the three and six months ended June 30, 2011, the charges for depreciation and stock-based compensation were $0.5 million ($0.4 million in R&D and $0.1 million in S,G&A) and $1.0 million ($0.7 million in R&D and $0.3 million in S,G&A), respectively. Condensed Consolidated Balance Sheets
(in thousands)June 30,December 31,20122011ASSETS(Unaudited)Current Assets:Cash and cash equivalents$
46,008$
,189Prepaid expenses and other current assets538442Total
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