Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

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Consolidated Balance Sheets (Unaudited) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2013
Dec. 31, 2012
Current Assets:    
Cash and cash equivalents $ 44,052 $ 40,199
Prepaid and other current assets 1,010 393
Total current assets 45,062 40,592
Property and equipment, net 50 51
Other assets 344 349
Total Assets 45,456 40,992
Current Liabilities:    
Accounts payable 676 1,029
Interest payable 119 119
Accrued expenses 2,183 2,185
Current portion of note payable 3,190 1,799
Total current liabilities 6,168 5,132
Note payable 11,086 12,386
Other long-term liabilities 1,474 1,441
Total Liabilities 18,728 18,959
Commitments and Contingencies      
Stockholders' Equity:    
Common Stock, $.001 par value, 50,000,000 shares authorized, 26,167,760 and 24,400,754 shares issued and outstanding as of March 31, 2013 and December 31, 2012, respectively 26 24
Additional paid-in capital 119,744 106,193
Deficit accumulated during development stage (93,042) (84,184)
Total Stockholders' Equity 26,728 22,033
Total Liabilities and Stockholders' Equity 45,456 40,992
Series C Convertible Preferred Stock
    
Stockholders' Equity:    
Convertible Preferred stock, $.001 par value, 457,053 and 584,390 Series C shares authorized, 0 shares issued and outstanding as of March 31, 2013 and December 31, 2012, respectively