Three Months Ended March 31, | Six Months Ended March 31, | |||||||
2011 | 2010 | 2011 | 2010 | |||||
REVENUES FROM PRODUCT SALES | ||||||||
Gross product sales | $ 504,966 | $ - | $ 504,966 | $ - | ||||
Less: discount and allowances | (42,952) | - | (42,952) | - | ||||
Net product sales | 462,014 | - | 462,014 | - | ||||
Cost of product sales (1) | 114,327 | - | 114,327 | - | ||||
Product gross margin | 347,687 | - | 347,687 | - | ||||
OTHER REVENUES | ||||||||
Revenues from royalties | 974,489 | 994,494 | 2,792,976 | 2,479,428 | ||||
Total gross margin | 1,322,176 | 994,494 | 3,140,663 | 2,479,428 | ||||
OPERATING EXPENSES | ||||||||
Research and development | 2,519,390 | 3,815,613 | 6,363,179 | 7,262,503 | ||||
Selling, general and administrative | 13,278,773 | 3,622,704 | 23,372,211 | 6,489,182 | ||||
Total operating expenses | 15,798,163 | 7,438,317 | 29,735,390 | 13,751,685 | ||||
Loss from operations | (14,475,987) | (6,443,823) | (26,594,727) | (11,272,257) | ||||
OTHER INCOME | ||||||||
Interest income | 10,051 | 2,357 | 17,183 | 8,161 | ||||
Other, net | 348 | 1,004 | 37 | 677 | ||||
Net loss | $ (14,465,588) | $ (6,440,462) | $ (26,577,507) | $ (11,263,419) | ||||
Basic and diluted net loss per share | $ (0.12) | $ (0.08) | $ (0.23) | $ (0.14) | ||||
Basic and diluted weighted average number of common shares outstanding | 121,635,339 | 83,419,640 | 114,943,284 | 83,288,078 | ||||
(1) Cost of product sales includes a write-down of inventory of approximately $82,000. | ||||||||
