|
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/LOSS (USD $)
|
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
| Revenues | |||
| Research and development | $ 5,519,300 | $ 8,970,835 | $ 12,725,792 |
| Operating expenses | |||
| Selling, general and administrative | 13,244,819 | 11,410,131 | 23,931,713 |
| Research and development | 13,856,500 | 18,213,036 | 18,367,348 |
| Patent preparation fees | 1,421,218 | 1,883,405 | 1,808,168 |
| Restructuring charges | 512,944 | 0 | 0 |
| Total operating expenses | 29,035,481 | 31,506,572 | 44,107,229 |
| Operating loss | (23,516,181) | (22,535,737) | (31,381,437) |
| Decrease (increase) in fair value of common stock warrants | (73,756) | 804,516 | 24,436,309 |
| Non-cash interest expense | (1,207,332) | (172,993) | 0 |
| Other income, net | 1,497 | 522 | 13,061 |
| Loss before income taxes | (24,795,772) | (21,903,692) | (6,932,067) |
| Benefit from (provision for) income taxes | 7,618,439 | 7,844,153 | 36,031,646 |
| Net income (loss) | (17,177,333) | (14,059,539) | 29,099,579 |
| Earning (loss) per share: basic | $ (0.33) | $ (0.27) | $ 0.57 |
| Earnings (loss) per share: diluted | $ (0.33) | $ (0.27) | $ 0.09 |
| Weighted average shares: basic | 52,368,842 | 51,639,622 | 50,929,491 |
| Weighted average shares outstanding: diluted | 52,368,842 | 51,639,622 | 54,061,650 |
| Comprehensive income (loss) | |||
| Net income (loss) | (17,177,333) | (14,059,539) | 29,099,579 |
| Change in net unrealized gain (loss) on short-term investments | 0 | 0 | (4,067) |
| Comprehensive income (loss) | $ (17,177,333) | $ (14,059,539) | $ 29,095,512 |