$MTEM
Molecular Templates, Inc.

2011 Q4 Form 10-K Financial Statement

#000119312513095969 Filed on March 07, 2013

View on sec.gov

Income Statement

Concept 2011 Q4 2011 Q3 2011 Q2
Revenue $60.00K $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.420M $1.310M $1.690M
YoY Change 2.9% 0.77% 67.33%
% of Gross Profit
Research & Development $6.740M $6.481M $5.070M
YoY Change 42.19% 35.87% 2.42%
% of Gross Profit
Depreciation & Amortization $130.0K $160.0K $150.0K
YoY Change 18.18% 23.08% 36.36%
% of Gross Profit
Operating Expenses $8.160M $7.789M $6.750M
YoY Change 33.33% 28.32% 13.26%
Operating Profit -$7.789M
YoY Change
Interest Expense $10.00K $10.00K $10.00K
YoY Change 0.0% 0.0% -50.0%
% of Operating Profit
Other Income/Expense, Net $2.820M $3.660M -$1.180M
YoY Change -740.91% 2340.0% -120.77%
Pretax Income -$5.280M -$4.130M -$7.920M
YoY Change -19.39% -30.12% 2946.15%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$5.275M -$4.125M -$7.923M
YoY Change -19.47% -30.2% 2947.31%
Net Earnings / Revenue -8791.67%
Basic Earnings Per Share -$0.11 -$0.08 -$0.16
Diluted Earnings Per Share -$0.11 -$0.08 -$0.16
COMMON SHARES
Basic Shares Outstanding 49.05M shares
Diluted Shares Outstanding 49.05M shares

Balance Sheet

Concept 2011 Q4 2011 Q3 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.30M $25.30M $31.50M
YoY Change 38.1% 25.87% 20.69%
Cash & Equivalents $5.882M $6.076M $10.60M
Short-Term Investments $14.40M $19.20M $20.90M
Other Short-Term Assets $300.0K $800.0K $1.100M
YoY Change -70.0% 0.0% 22.22%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $20.54M $26.10M $32.60M
YoY Change 31.69% 25.48% 20.74%
LONG-TERM ASSETS
Property, Plant & Equipment $543.0K $400.0K $100.0K
YoY Change 81.0% 33.33% -75.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.349M $300.0K $300.0K
YoY Change 349.67% -62.5% -62.5%
Total Long-Term Assets $1.892M $800.0K $400.0K
YoY Change 215.33% -27.27% -66.67%
TOTAL ASSETS
Total Short-Term Assets $20.54M $26.10M $32.60M
Total Long-Term Assets $1.892M $800.0K $400.0K
Total Assets $22.44M $26.90M $33.00M
YoY Change 38.49% 22.83% 17.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.389M $300.0K $500.0K
YoY Change 696.33% -40.0% 0.0%
Accrued Expenses $1.737M $5.100M $4.000M
YoY Change -47.36% 75.86% 21.21%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.591M $5.400M $4.500M
YoY Change 145.46% 63.64% 18.42%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $9.400M $12.00M $15.80M
YoY Change 22.08% 62.16% 107.89%
Total Long-Term Liabilities $9.400M $12.00M $15.80M
YoY Change 22.08% 62.16% 107.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.591M $5.400M $4.500M
Total Long-Term Liabilities $9.400M $12.00M $15.80M
Total Liabilities $17.95M $17.40M $20.30M
YoY Change 58.88% 62.62% 78.07%
SHAREHOLDERS EQUITY
Retained Earnings -$252.1M
YoY Change
Common Stock $256.6M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.483M $9.500M $12.70M
YoY Change
Total Liabilities & Shareholders Equity $22.44M $26.90M $33.00M
YoY Change 38.49% 22.83% 17.02%

Cashflow Statement

Concept 2011 Q4 2011 Q3 2011 Q2
OPERATING ACTIVITIES
Net Income -$5.275M -$4.125M -$7.923M
YoY Change -19.47% -30.2% 2947.31%
Depreciation, Depletion And Amortization $130.0K $160.0K $150.0K
YoY Change 18.18% 23.08% 36.36%
Cash From Operating Activities -$4.740M -$6.340M -$6.760M
YoY Change -8.32% 4.28% 17.77%
INVESTING ACTIVITIES
Capital Expenditures -$210.0K -$320.0K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $4.760M $1.580M -$12.53M
YoY Change -52.68% -74.64% -550.72%
Cash From Investing Activities $4.550M $1.260M -$12.53M
YoY Change -54.82% -79.74% -552.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 550.0K -20.00K
YoY Change -100.0% 816.67%
NET CHANGE
Cash From Operating Activities -4.740M -6.340M -6.760M
Cash From Investing Activities 4.550M 1.260M -12.53M
Cash From Financing Activities 0.000 550.0K -20.00K
Net Change In Cash -190.0K -4.530M -19.31M
YoY Change -103.98% -2365.0% 550.17%
FREE CASH FLOW
Cash From Operating Activities -$4.740M -$6.340M -$6.760M
Capital Expenditures -$210.0K -$320.0K $0.00
Free Cash Flow -$4.530M -$6.020M -$6.760M
YoY Change -12.38% -0.99% 18.18%

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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1849500 shares
CY2010 us-gaap Research And Development Expense
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18937000
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33654000 shares
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-1756000
CY2010 us-gaap Increase Decrease In Deferred Revenue
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CY2010 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
10300000
CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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15000.0
CY2010 us-gaap Increase Decrease In Derivative Assets And Liabilities
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5166000
CY2010 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
25000
CY2010 us-gaap Share Based Compensation
ShareBasedCompensation
803000
CY2010 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.45
CY2010 us-gaap Gain Loss On Derivative Instruments Net Pretax
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5166000
CY2010 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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224000
CY2010 us-gaap Increase Decrease In Restricted Cash
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-12000
CY2010 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
108000
CY2011 us-gaap Stock Issued During Period Shares Stock Options Exercised
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11603 shares
CY2010 us-gaap Operating Income Loss
OperatingIncomeLoss
-23908000
CY2010 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
803000
CY2010 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
1.61
CY2010 us-gaap Earnings Per Share Basic
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-0.56
CY2010 us-gaap Net Income Loss
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-18682000
CY2010 us-gaap Earnings Per Share Diluted
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-0.56
CY2010 us-gaap Income Tax Reconciliation Tax Credits Research
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732000
CY2010 us-gaap General And Administrative Expense
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4971000
CY2010 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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33654000 shares
CY2010 us-gaap Net Cash Provided By Used In Financing Activities
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6000
CY2010 us-gaap Increase Decrease In Deferred Charges
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241000
CY2010 us-gaap Contracts Revenue
ContractsRevenue
CY2010 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-18657000
CY2010 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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247000
CY2010 us-gaap Operating Expenses
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23908000
CY2010 us-gaap Income Tax Reconciliation Other Adjustments
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-139000
CY2010 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2010 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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25000
CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
2452401 shares
CY2010 us-gaap Share Based Goods And Nonemployee Services Transaction Expense
ShareBasedGoodsAndNonemployeeServicesTransactionExpense
37000
CY2010 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
821000
CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
19442 shares
CY2010 us-gaap Depreciation
Depreciation
300000
CY2010 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
15223000
CY2010 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
CY2010 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
803000
CY2010 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
37454000
CY2010 us-gaap Increase Decrease In Accrued Liabilities
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-149000
CY2010 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-1593000
CY2010 us-gaap Increase Decrease In Accounts Payable
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-32000
CY2010 us-gaap Proceeds From Issuance Of Common Stock
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140000
CY2010 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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-6353000
CY2010 us-gaap Net Cash Provided By Used In Operating Activities
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-22384000
CY2010 thld Deferred Offering Cost
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134000
CY2010 thld Issuance Of Common Stock Pursuant To Stock Plans
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140000
CY2010 thld Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant Cancelled And Expired
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrantCancelledAndExpired
19442 shares
CY2010 thld Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrantExercised
shares
CY2010 thld Share Based Compensation Arrangement By Share Based Payment Award Weighted Average Exercised Price Shares Reserved
ShareBasedCompensationArrangementByShareBasedPaymentAwardWeightedAverageExercisedPriceSharesReserved
CY2010 thld Income Tax Reconciliation Tax Assets Not Benefited
IncomeTaxReconciliationTaxAssetsNotBenefited
957000
CY2010 thld Income Tax Reconciliation Unutilized Utilized Net Operating Losses
IncomeTaxReconciliationUnutilizedUtilizedNetOperatingLosses
9392000
CY2011 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
11600000
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
6000.0
CY2012Q1 us-gaap Contracts Revenue
ContractsRevenue
252000
CY2011 us-gaap Increase Decrease In Derivative Assets And Liabilities
IncreaseDecreaseInDerivativeAssetsAndLiabilities
4358000
CY2011 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
-2000
CY2011 us-gaap Share Based Compensation
ShareBasedCompensation
1039000
CY2011 us-gaap Proceeds From Stock Options Exercised
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14000.0
CY2011 us-gaap Net Cash Provided By Used In Investing Activities
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-9182000
CY2011 us-gaap Investment Income Interest
InvestmentIncomeInterest
25000
CY2011 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.24
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1196500 shares
CY2011 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
24388000
CY2011 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45900000 shares
CY2011 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
-1482000
CY2011 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
CY2011 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.64
CY2011 us-gaap Gain Loss On Derivative Instruments Net Pretax
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4358000
CY2011 us-gaap Depreciation And Amortization
DepreciationAndAmortization
525000
CY2011 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-2809000
CY2011 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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223000
CY2011 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
1300000
CY2011 us-gaap Operating Income Loss
OperatingIncomeLoss
-30036000
CY2011 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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1039000
CY2011 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
1.38
CY2011 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.56
CY2011 us-gaap Net Income Loss
NetIncomeLoss
-25653000
CY2011 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.56
CY2011 us-gaap Income Tax Reconciliation Tax Credits Research
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885000
CY2011 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5710000
CY2011 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45900000 shares
CY2011 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
30224000
CY2011 us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
95000
CY2011 us-gaap Contracts Revenue
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62000
CY2011 us-gaap Comprehensive Income Net Of Tax
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-25655000
CY2011 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
CY2011 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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369000
CY2011 us-gaap Operating Expenses
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30098000
CY2011 us-gaap Unrecognized Tax Benefits Increases Resulting From Settlements With Taxing Authorities
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CY2011 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
25000
CY2011 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2011 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-2000
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
1250000 shares
CY2011 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
CY2011 thld Share Based Compensation Arrangement By Share Based Payment Award Weighted Average Exercised Price Shares Reserved
ShareBasedCompensationArrangementByShareBasedPaymentAwardWeightedAverageExercisedPriceSharesReserved
CY2011 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-8722000
CY2011 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
24007000
CY2011 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
528000
CY2011 us-gaap Share Based Goods And Nonemployee Services Transaction Expense
ShareBasedGoodsAndNonemployeeServicesTransactionExpense
100000
CY2011 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
2026000
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
258436 shares
CY2011 us-gaap Depreciation
Depreciation
200000
CY2011 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
28154000
CY2011 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
17000
CY2011 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1039000
CY2011 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
19500000
CY2011 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
914000
CY2011 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-1995000
CY2011 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2137000
CY2011 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
30224000
CY2011 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-23851000
CY2011 thld Unrecognized Tax Benefits Increases Decreases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesDecreasesResultingFromCurrentPeriodTaxPositions
CY2011 thld Deferred Offering Cost
DeferredOfferingCost
CY2011 thld Issuance Of Common Stock Pursuant To Stock Plans
IssuanceOfCommonStockPursuantToStockPlans
149000
CY2011 thld Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant Cancelled And Expired
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrantCancelledAndExpired
258436 shares
CY2011 thld Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrantExercised
shares
CY2011 thld Unrecognized Tax Benefits Increases Decrease Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesDecreaseResultingFromPriorPeriodTaxPositions
CY2011 thld Income Tax Reconciliation Tax Assets Not Benefited
IncomeTaxReconciliationTaxAssetsNotBenefited
1105000
CY2011 thld Income Tax Reconciliation Unutilized Utilized Net Operating Losses
IncomeTaxReconciliationUnutilizedUtilizedNetOperatingLosses
11731000
CY2011 thld Fair Value Of Common Stock Warrants Issued
FairValueOfCommonStockWarrantsIssued
6068000
CY2012 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2012 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2012 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
CY2012 dei Document Type
DocumentType
10-K
CY2012 dei Document Period End Date
DocumentPeriodEndDate
2012-12-31
CY2012 dei Entity Central Index Key
EntityCentralIndexKey
0001183765
CY2012 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2012 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2012 dei Trading Symbol
TradingSymbol
THLD
CY2012 dei Entity Registrant Name
EntityRegistrantName
THRESHOLD PHARMACEUTICALS INC
CY2012 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2012 dei Amendment Flag
AmendmentFlag
false
CY2012 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2012 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
402580 shares
CY2012 us-gaap Concentration Risk Credit Risk
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<div> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 2%"> <font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Concentration of Credit Risk and Other Risks and Uncertainties</i></b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Financial instruments which potentially subject the Company to concentrations of risk consist principally of cash, cash equivalents and marketable securities. The Company invests in a variety of financial instruments, such as, but not limited to, certificates of deposit, corporate and municipal bonds, United States Treasury and agency securities. The Company is exposed to credit risk in the event of default by the financial institutions for amounts in excess of Federal Deposit Insurance Corporation insured limits. The Company performs periodic evaluations of the relative credit standings of these financial institutions, and by policy, limits the amount of credit exposure with any one financial institution or commercial issuer.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Any products developed by the Company will require approval from the U.S. Food and Drug Administration (&#x201C;FDA&#x201D;) or foreign regulatory agencies prior to commercial sales. There can be no assurance that the Company&#x2019;s products will receive the necessary approvals. If the Company is denied such approvals or such approvals are delayed, it could have a material adverse effect on the Company.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The Company has one drug candidate in development, which has not received regulatory approval. To achieve profitable operations, the Company must successfully develop, test, manufacture and market its products. There can be no assurance that any such products can be developed successfully or manufactured at an acceptable cost and with appropriate performance characteristics, or that such products will be successfully marketed. These factors could have a material adverse effect on the Company&#x2019;s future financial results.</font></p> </div>
CY2012 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
600000
CY2012 us-gaap Preferred Stock Participation Rights
PreferredStockParticipationRights
One right for each share of common stock held
CY2012 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-46676000
CY2012 us-gaap Investment Income Interest
InvestmentIncomeInterest
80000
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.39
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1844000 shares
CY2012 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y7M6D
CY2012 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
18786000
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
54219000 shares
CY2012 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Segment
CY2012 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
17414000
CY2012 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
61633000
CY2012 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
8800000
CY2012 us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
4600000
CY2012 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
7800000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1700000
CY2012 us-gaap Increase Decrease In Derivative Assets And Liabilities
IncreaseDecreaseInDerivativeAssetsAndLiabilities
-51216000
CY2012 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
12000
CY2012 us-gaap Share Based Compensation
ShareBasedCompensation
3010000
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.24
CY2012 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-51216000
CY2012 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1008000
CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
5147000
CY2012 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
288000
CY2012 us-gaap Depreciation
Depreciation
200000
CY2012 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
700000
CY2012 us-gaap Operating Income Loss
OperatingIncomeLoss
-19999000
CY2012 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3010000
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
4.25
CY2012 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
CY2012 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
623000
CY2012 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.31
CY2012 us-gaap Contracts Revenue
ContractsRevenue
5867000
CY2012 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-71123000
CY2012 us-gaap Net Income Loss
NetIncomeLoss
-71135000
CY2012 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.31
CY2012 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
CY2012 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7080000
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54219000 shares
CY2012 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
21910000
CY2012 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
93745000
CY2012 us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
-115000
CY2012 us-gaap Operating Expenses
OperatingExpenses
25866000
CY2012 us-gaap Unrecognized Tax Benefits Increases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsIncreasesResultingFromSettlementsWithTaxingAuthorities
CY2012 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
46000
CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2012 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
12000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
1250000 shares
CY2012 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
CY2012 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
12323000
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
482000
CY2012 us-gaap Share Based Goods And Nonemployee Services Transaction Expense
ShareBasedGoodsAndNonemployeeServicesTransactionExpense
200000
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P8Y
CY2012 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
1285000
CY2012 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
CY2012 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3010000
CY2012 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
47551000
CY2012 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 2%"> <font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Use of Estimates</i></b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.</font></p> </div>
CY2012 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
520000
CY2012 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-1160000
CY2012 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1481000
CY2012 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
21910000
CY2012 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-24186000
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
29913000
CY2012 thld Preferred Stock Purchase Rights Expiration Date
PreferredStockPurchaseRightsExpirationDate
August 8, 2016
CY2012 thld Percentage Common Stock Outstanding Shares
PercentageCommonStockOutstandingShares
0.15 pure
CY2012 thld Weighted Average Days To Maturity
WeightedAverageDaysToMaturity
133 D
CY2012 thld Unrecognized Tax Benefits Increases Decreases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesDecreasesResultingFromCurrentPeriodTaxPositions
CY2012 thld Deferred Offering Cost
DeferredOfferingCost
CY2012 thld Exercise Of Warrants Liability Measured At Fair Value
ExerciseOfWarrantsLiabilityMeasuredAtFairValue
27867000
CY2012 thld Issuance Of Common Stock Pursuant To Stock Plans
IssuanceOfCommonStockPursuantToStockPlans
738000
CY2012 thld Reclassifications Of Fair Value From Liability To Permanent Equity
ReclassificationsOfFairValueFromLiabilityToPermanentEquity
27900000
CY2012 thld Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant Cancelled And Expired
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrantCancelledAndExpired
14627 shares
CY2012 thld Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrantExercised
shares
CY2012 thld Exercise Of Warrants To Purchase Value Of Class Common Stock
ExerciseOfWarrantsToPurchaseValueOfClassCommonStock
8849000
CY2012 thld Reclassification Of Fair Value Of Warrants Exercised
ReclassificationOfFairValueOfWarrantsExercised
27867000
CY2012 thld Unrecognized Tax Benefits Increases Decrease Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesDecreaseResultingFromPriorPeriodTaxPositions
CY2012 thld Share Based Compensation Arrangement By Share Based Payment Award Weighted Average Exercised Price Shares Reserved
ShareBasedCompensationArrangementByShareBasedPaymentAwardWeightedAverageExercisedPriceSharesReserved
CY2012 thld Income Tax Reconciliation Tax Assets Not Benefited
IncomeTaxReconciliationTaxAssetsNotBenefited
143000
CY2012 thld Income Tax Reconciliation Unutilized Utilized Net Operating Losses
IncomeTaxReconciliationUnutilizedUtilizedNetOperatingLosses
7455000
CY2011Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.23
CY2011Q1 us-gaap Net Income Loss
NetIncomeLoss
-8330000
CY2011Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.23
CY2011Q1 us-gaap Contracts Revenue
ContractsRevenue
CY2011Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.16
CY2011Q2 us-gaap Net Income Loss
NetIncomeLoss
-7923000
CY2011Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.16
CY2011Q2 us-gaap Contracts Revenue
ContractsRevenue
CY2012Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.30
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
-115533000
CY2012Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.30
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.02
CY2011Q4 us-gaap Net Income Loss
NetIncomeLoss
-5275000
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.31
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
17001000
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
CY2012Q2 us-gaap Contracts Revenue
ContractsRevenue
1797000
CY2011Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.08
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
-4125000
CY2011Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.08
CY2011Q3 us-gaap Contracts Revenue
ContractsRevenue
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
-991000
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.06
CY2012Q3 us-gaap Contracts Revenue
ContractsRevenue
1797000
CY2011Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.11
CY2011Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.11
CY2011Q4 us-gaap Contracts Revenue
ContractsRevenue
62000
CY2012Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.50
CY2012Q4 us-gaap Net Income Loss
NetIncomeLoss
28388000
CY2012Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.10
CY2012Q4 us-gaap Contracts Revenue
ContractsRevenue
2021000

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