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
Jun. 30, 2012
Dec. 31, 2011
Current    
Cash and cash equivalents [note 4] $ 13,842 $ 28,517
Restricted cash 314 377
Short-term investments [note 4] 83,806 36,410
Amounts receivable 956 812
Prepaid expenses 5,970 1,210
Total current assets 104,888 67,326
Property and equipment, net 226 180
Other assets 2,903 509
Total assets 108,017 68,015
Current    
Accounts payable and accrued liabilities 2,883 3,217
Deferred collaboration revenue [note 3] 15,372 18,271
Current portion of long-term obligations [note 6] 1,440 1,417
Warrant liability [note 4 and 5] 7,667 7,881
Total current liabilities 27,362 30,786
Long-term obligation, less current portion [note 6] 5,940 6,339
Total liabilities 33,302 37,125
Commitments and contingencies [note 7]      
Shareholders' equity:    
Common shares [note 5]:$0.001 par value 25,000,000 shares authorized and 14,539,869 issued and outstanding at June 30, 2012 and 9,749,819 issued and outstanding at December 31, 2011 14 10
Additional paid-in capital 163,901 108,986
Accumulated deficit (91,817) (80,742)
Accumulated other comprehensive income 2,617 2,636
Total shareholders' equity 74,715 30,890
Total liabilities and shareholders' equity $ 108,017 $ 68,015