Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2012
Dec. 31, 2011
Current    
Cash and cash equivalents [note 4] $ 11,362 $ 28,517
Restricted cash 314 377
Short-term investments [note 4] 73,711 36,410
Amounts receivable 1,138 812
Prepaid expenses 9,292 1,210
Total current assets 95,817 67,326
Property and equipment, net 223 180
Other assets 1,132 509
Total assets 97,172 68,015
Current    
Accounts payable and accrued liabilities 5,718 3,217
Deferred collaboration revenue [note 3] 9,145 18,271
Current portion of long-term obligations [note 6] 1,451 1,417
Warrant liability [notes 4 and 5] 5,359 7,881
Total current liabilities 21,673 30,786
Long-term obligation, less current portion [note 6] 5,738 6,339
Total liabilities 27,411 37,125
Commitments and contingencies [note 7]      
Shareholders' equity:    
Common shares [note 5]:$0.001 par value 25,000,000 shares authorized and 14,656,403 issued and outstanding at September 30, 2012 and 9,749,819 issued and outstanding at December 31, 2011 15 10
Additional paid-in capital 164,828 108,986
Accumulated deficit (97,737) (80,742)
Accumulated other comprehensive income 2,655 2,636
Total shareholders' equity 69,761 30,890
Total liabilities and shareholders' equity $ 97,172 $ 68,015