98 per diluted common share, and $14.7 million, or $1.51 per diluted common share, respectively. The net loss in the years ended December 31, 2012 and 2011 included a non-cash gain on revaluation of our warrant liability of $4.5 million and $7.4 million, respectively.
We had $75.4 million in cash, cash equivalents and short-term investments as of December 31, 2012, compared to $64.9 million as of December 31, 2011.
2013 cash guidance:
Net cash requirements are expected to be in the range of $40 million to $50 million.
Year-end cash, cash equivalents and investments are expected to be in the range of $25 million to $35 million.
Based on our current expectations, we believe our capital resources as of December 31, 2012 will be sufficient to fund our currently planned operations into 2015.
At March 7, 2013, we had 14,658,766 shares outstanding.
Consolidated Statements of Loss(In thousands, except per share and share data)(unaudited)Three months ended December 31,Year ended December 31,2012201120122011Collaboration revenue$
5,496Operating expenses: Research and development15,6457,47739,94821,553 General and administrative2,0421,7317,7916,230 Restructuring gain(1,657)-(1,657)-Total operating expenses16,0309,20846,08227,783Loss from operations6,2507,97225,98722,287 Other income (expense)2,147(1,596)4,8897,614Loss for the period before income taxes(4,103)(9,568)(21,098)(14,673) Income taxes----Net loss$
(9,568)$ (21,098)$ (14,673)Basic and diluted net loss per share$
(1.51)Weighted average number of basic and diluted common shares14,656,7939,748,63913,522,7239,729,340Consolidated Balance Sheets(In thousands) December 31, December 31, 20122011 (unaudited) Assets: Cash, cash equivalents, short term investments and restricted cash$
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