Quarterly report pursuant to Section 13 or 15(d)

BALANCE SHEETS

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BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 23,882 $ 20,854
Available-for-sale securities 152,148 191,121
Accounts receivable   5,750
Prepaid and other current assets 1,510 2,350
Total current assets 177,540 220,075
Property and equipment, net 3,430 4,455
Other assets 1,461 1,528
Total assets 182,431 226,058
Current liabilities:    
Accounts payable 1,896 3,903
Accrued compensation 3,172 2,849
Accrued research and development 2,770 1,588
Other accrued liabilities 731 746
Deferred rent, current portion 1,496 1,208
Total current liabilities 10,065 10,294
Long-term portion of deferred rent 6,570 7,439
Other long-term liabilities 63 74
Commitments and contingencies      
Stockholders' equity:    
Preferred stock      
Common stock 88 88
Additional paid-in capital 1,062,571 1,057,390
Accumulated other comprehensive income 42 47
Accumulated deficit (896,968) (849,274)
Total stockholders' equity 165,733 208,251
Total liabilities and stockholders' equity $ 182,431 $ 226,058