Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v2.4.0.6
Condensed Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenues:        
Royalties $ 2,983 $ 2,172 $ 6,043 $ 4,165
Material sales 1,665 2,984 2,332 4,034
Collaborative research and development and other revenues 1,094 2,307 3,003 3,160
Total revenues 5,742 7,463 11,378 11,359
Operating costs and expenses:        
Cost of sales 435 1,623 590 2,148
Research and development 2,850 3,237 5,668 5,223
General and administrative 3,940 3,855 7,442 7,299
Lease exit and termination costs 247 (16) 173 (168)
Total operating costs and expenses 7,472 8,699 13,873 14,502
Accretion of deferred gain on sale leaseback    426    851
Loss from operations (1,730) (810) (2,495) (2,292)
Other income (expense):        
Interest expense, net (847) (674) (1,622) (1,063)
Decrease (increase) in liability for contingent value rights (1,153) 679 (389) (1,057)
Other, net 2 32 256 82
Total other income (expense), net (1,998) 37 (1,755) (2,038)
Loss before income taxes (3,728) (773) (4,250) (4,330)
Income tax benefit (expense) (338) (141) (303) 13,444
Income (loss) from continuing operations (4,066) (914) (4,553) 9,114
Discontinued operations:        
Income tax benefit on discontinued operations 191    14   
Discontinued operations 1,799   3,670 4
Net income (loss): (2,267) (914) (883) 9,118
Basic and diluted per share amounts:        
Income (Loss) from continuing operations $ (0.20) $ (0.05) $ (0.23) $ 0.46
Discontinued operations $ 0.09 $ 0.00 $ 0.19 $ 0.00
Net income (loss) $ (0.11) $ (0.05) $ 0.04 $ 0.46
Weighted average number of common shares-basic 19,749,266 19,650,260 19,728,852 19,623,249
Weighted average number of common shares-diluted 19,749,266 19,650,260 19,728,852 19,637,983
AVINZA Product Line
       
Discontinued operations:        
Gain on sale of Product Line, net 1,608    3,656   
Oncology Product Line
       
Discontinued operations:        
Gain on sale of Product Line, net         $ 4