Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Current assets    
Cash and cash equivalents $ 34,303,000 $ 40,138,000
Receivables 112,000 115,000
Prepaid expenses and other current assets 206,000 315,000
Total current assets 34,621,000 40,568,000
Property and equipment, net 639,000 350,000
Licensed technology, net 6,318,000 6,609,000
Goodwill 32,466,000 32,466,000
Other assets 108,000 62,000
Total assets 74,152,000 80,055,000
Current liabilities    
Accounts payable 2,105,000 875,000
Current portion of deferred revenue 602,000 602,000
Contingent consideration liability 2,000,000 0
Payable due Licensor 4,000,000 0
Total current liabilities 8,707,000 1,477,000
Contingent consideration liability 0 2,591,000
Payable due Licensor 0 4,000,000
Long-term deferred revenue 3,965,000 4,266,000
Total liabilities 12,672,000 12,334,000
Commitments and contingencies
Stockholders' equity    
Common stock - $.01 par value; authorized 200,000,000 shares; issued, 32,795,703 at June 30, 2016 and 32,743,013 at December 31, 2015 328,000 328,000
Additional paid-in capital 383,999,000 377,993,000
Accumulated deficit (322,847,000) (310,600,000)
Total stockholders' equity 61,480,000 67,721,000
Total liabilities and stockholders' equity $ 74,152,000 $ 80,055,000