Annual report pursuant to Section 13 and 15(d)

BALANCE SHEETS

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BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 20,854 $ 33,484
Available-for-sale securities 191,121 264,757
Accounts receivable 5,750  
Prepaid and other current assets 2,350 4,217
Total current assets 220,075 302,458
Property and equipment, net 4,455 5,826
Other assets 1,528 1,759
Total assets 226,058 310,043
Current liabilities:    
Accounts payable 3,903 1,697
Accrued compensation 2,849 6,775
Accrued research and development 1,588 2,124
Other accrued liabilities 746 942
Deferred rent, current portion 1,208 666
Total current liabilities 10,294 12,204
Long-term portion of deferred rent 7,439 8,647
Other long-term liabilities 74 96
Commitments and contingencies      
Stockholders' equity:    
Preferred stock, $0.001 par value; 10,000,000 shares authorized; none issued and outstanding as of December 31, 2013 and 2012      
Common stock, $0.001 par value; 200,000,000 shares authorized; 87,524,349 and 87,140,632 shares issued and outstanding as of December 31, 2013 and 2012, respectively 88 87
Additional paid-in capital 1,057,390 1,049,174
Accumulated other comprehensive income 47 82
Accumulated deficit (849,274) (760,247)
Total stockholders' equity 208,251 289,096
Total liabilities and stockholders' equity $ 226,058 $ 310,043