Quarterly report pursuant to Section 13 or 15(d)

CONDENSED BALANCE SHEETS

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CONDENSED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2012
Dec. 31, 2011
Current assets:    
Cash and cash equivalents $ 26,801 $ 18,633
Available-for-sale securities 157,094 229,007
Prepaid expenses and other current assets 2,734 2,593
Total current assets 186,629 250,233
Property and equipment, net 5,861 4,882
Other assets 1,826 1,991
Total assets 194,316 257,106
Current liabilities:    
Accounts payable 1,388 1,556
Accrued compensation 5,399 7,271
Other accrued liabilities 3,267 2,571
Deferred rent 531 129
Total current liabilities 10,585 11,527
Long-term portion of deferred rent 8,825 9,313
Other long-term liabilities 102 117
Commitments and contingencies      
Stockholders' equity:    
Preferred stock, $0.001 par value; 10,000,000 shares authorized; none issued and outstanding as of September 30, 2012 and December 31, 2011      
Common stock, $0.001 par value; 200,000,000 and 100,000,000 shares authorized as of September 30, 2012 and December 31, 2011, respectively; 71,760,104 and 71,379,052 shares issued and outstanding as of September 30, 2012 and December 31, 2011, respectively 72 71
Additional paid-in capital 909,401 897,479
Accumulated other comprehensive income 106 6
Accumulated deficit (734,775) (661,407)
Total stockholders' equity 174,804 236,149
Total liabilities and stockholders' equity $ 194,316 $ 257,106