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 $)
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Revenues    
Product sales $ 1,162,000 $ 554,000
License revenues 62,000 1,262,000
Royalties 0 21,000
Total revenues 1,224,000 1,837,000
Expenses    
Research and development 323,000 750,000
Product costs 65,000 59,000
Selling, general and administrative 1,338,000 1,663,000
Depreciation and amortization 1,000 54,000
Total expenses 1,727,000 2,526,000
Loss from operations (503,000) (689,000)
Interest and miscellaneous income 94,000 1,000
Interest and other expense (43,000) (169,000)
Warrant extension expense 0 (2,316,000)
(Loss) gain on change in fair value of derivative - warrants (247,000) 741,000
Gain (loss) on change in fair value of derivative - preferred stock 4,780,000 (2,460,000)
Total non operating income (expense) 4,584,000 (4,203,000)
Net income (loss) 4,081,000 (4,892,000)
Less preferred stock dividends 727,000 440,000
Net income (loss) allocable to common stockholders $ 3,354,000 $ (5,332,000)
Net income (loss) per common share    
Basic (in dollars per share) $ 0.14 $ (0.22)
Diluted (in dollars per share) $ 0.13 $ (0.22)
Weighted average number of common shares outstanding    
Basic (in shares) 24,800,936 24,145,488
Diluted (in shares) 25,156,201 24,145,488