Document and Entity Information (USD $)	12 Months Ended
Document and Entity Information (USD $)	Dec. 31, 2011	Feb. 29, 2012	Jun. 30, 2011
Document and Entity Information [Abstract]
Entity Registrant Name	GTX INC /DE/
Entity Central Index Key	0001260990
Document Type	10-K
Document Period End Date	Dec. 31, 2011
Amendment Flag	false
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 139,617,253
Entity Common Stock, Shares Outstanding		62,803,673

Balance Sheets (USD $) In Thousands, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010
Current assets:
Cash and cash equivalents	$ 63,745	$ 58,181
Short-term investments	10,695	450
Accounts receivable, net	981	683
Inventory	161	171
Prepaid expenses and other current assets	1,266	875
Total current assets	76,848	60,360
Property and equipment, net	1,096	2,040
Intangible and other assets, net	240	1,850
Total assets	78,184	64,250
Current liabilities:
Accounts payable	1,219	848
Accrued expenses and other current liabilities	4,857	3,112
Deferred revenue - current portion	0	1,345
Total current liabilities	6,076	5,305
Deferred revenue, less current portion	0	6,721
Other long-term liabilities	234	497
Commitments and contingencies
Stockholders' equity:
Common stock, $0.001 par value: 120,000,000 and 60,000,000 shares authorized at December 31, 2011 and December 31, 2010, respectively; 62,790,223 and 51,719,187 shares issued and outstanding at December 31, 2011 and December 31, 2010, respectively	63	52
Additional paid-in capital	457,985	404,555
Accumulated deficit	(386,174)	(352,880)
Total stockholders' equity	71,874	51,727
Total liabilities and stockholders' equity	$ 78,184	$ 64,250

Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2011	Dec. 31, 2010
Balance Sheets [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	120,000,000	60,000,000
Common stock, shares issued	62,790,223	51,719,187
Common stock, shares outstanding	62,790,223	51,719,187

Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Shares outstanding equals shares issued minus shares held in treasury and other adjustments, if any.

+ References+ Details

Statements of Operations (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Revenues:
Product sales, net	$ 6,673	$ 3,827	$ 3,289
Collaboration revenue	8,066	56,786	11,441
Total revenues	14,739	60,613	14,730
Costs and expenses:
Cost of product sales	1,055	768	1,290
Research and development expenses	31,938	28,495	32,344
General and administrative expenses	15,438	17,419	27,778
Total costs and expenses	48,431	46,682	61,412
(Loss) income from operations	(33,692)	13,931	(46,682)
Other income, net	398	1,363	188
(Loss) income before income taxes	(33,294)	15,294	(46,494)
Income tax benefit			238
Net (loss) income	$ (33,294)	$ 15,294	$ (46,256)
Net (loss) income per share:
Basic and diluted	$ (0.58)	$ 0.39	$ (1.27)
Weighted average shares used in computing net (loss) income per share:
Basic and diluted	57,359,466	38,874,721	36,415,379

Statements of Stockholders' Equity (Deficit) (USD $) In Thousands, except Share data	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit
Beginning balance at Dec. 31, 2008	$ 32,018	$ 36	$ 353,900	$ (321,918)
Beginning balance, shares at Dec. 31, 2008		36,392,443
Exercise of employee stock options, shares		18,434
Exercise of employee stock options	136		136
Directors' deferred compensation	178		178
Issuance of common stock under deferred compensation arrangements, shares		10,024
Share-based compensation	5,174		5,174
Net (loss) income and comprehensive (loss) income	(46,256)			(46,256)
Ending balance at Dec. 31, 2009	(8,750)	36	359,388	(368,174)
Ending balance, shares at Dec. 31, 2009		36,420,901
Exercise of employee stock options, shares		4,250
Exercise of employee stock options	9		9
Directors' deferred compensation	187	1	186
Issuance of common stock, net of offering costs, shares		15,285,715
Issuance of common stock, net of offering costs	40,288	15	40,273
Issuance of common stock under deferred compensation arrangements, shares		8,321
Share-based compensation	4,699		4,699
Net (loss) income and comprehensive (loss) income	15,294			15,294
Ending balance at Dec. 31, 2010	51,727	52	404,555	(352,880)
Ending balance, shares at Dec. 31, 2010	51,719,187	51,719,187
Exercise of employee stock options, shares		13,000
Exercise of employee stock options	55		55
Directors' deferred compensation	178		178
Issuance of common stock, net of offering costs, shares		11,023,000
Issuance of common stock, net of offering costs	48,982	11	48,971
Issuance of common stock under deferred compensation arrangements, shares		35,036
Share-based compensation	4,226		4,226
Net (loss) income and comprehensive (loss) income	(33,294)			(33,294)
Ending balance at Dec. 31, 2011	$ 71,874	$ 63	$ 457,985	$ (386,174)
Ending balance, shares at Dec. 31, 2011	62,790,223	62,790,223

Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Cash flows from operating activities:
Net (loss) income	$ (33,294)	$ 15,294	$ (46,256)
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation and amortization	1,040	1,573	1,785
Share-based compensation	4,226	4,699	5,174
Directors' deferred compensation	178	187	178
Deferred revenue amortization	(8,066)	(51,786)	(11,441)
Impairment of intangible assets	1,598	1,687
Write off of property and equipment			114
Changes in assets and liabilities:
Short-term investments, trading			2,157
Accounts receivable, net	(298)	(277)	81
Inventory	(24)	(55)	(24)
Receivable from collaboration partners		189	588
Prepaid expenses and other assets	(388)	36	85
Accounts payable	371	(420)	(1,553)
Accrued expenses and other liabilities	1,568	(1,654)	(1,956)
Deferred revenue			5,071
Net cash used in operating activities	(33,089)	(30,527)	(45,997)
Cash flows from investing activities:
Purchase of property and equipment	(54)	(95)	(600)
Purchase of short-term investments, held to maturity	(15,145)	(8,569)	(11,275)
Proceeds from maturities of short-term investments, held to maturity	4,900	16,944	2,450
Net cash (used in) provided by investing activities	(10,299)	8,280	(9,425)
Cash flows from financing activities:
Proceeds from issuance of common stock	48,982	40,288
Proceeds from exercise of employee stock options	55	9	136
Payments on capital lease and financed equipment obligations	(85)	(88)	(5)
Net cash provided by financing activities	48,952	40,209	131
Net increase (decrease) in cash and cash equivalents	5,564	17,962	(55,291)
Cash and cash equivalents, beginning of period	58,181	40,219	95,510
Cash and cash equivalents, end of period	63,745	58,181	40,219
Supplemental schedule of non-cash investing and financing activities:
Equipment purchased under debt or capital lease			$ 268

Business

12 Months Ended

Dec. 31, 2011

Business and Collaboration and License Agreements [Abstract]

Business

1. Business

GTx, Inc. (“GTx” or the “Company”), a Delaware corporation incorporated on September 24, 1997 and headquartered in Memphis, Tennessee, is a biopharmaceutical company dedicated to the discovery, development and commercialization of small molecules that selectively target hormone pathways for the treatment of cancer, cancer supportive care, and other serious medical conditions.

The Company is developing selective androgen receptor modulators (“SARMs”), including enobosarm (also known as Ostarine^TM or GTx-024). SARMs are a new class of drugs with the potential to prevent and treat muscle wasting in patients with cancer and other musculoskeletal wasting or muscle loss conditions, including chronic sarcopenia (age related muscle loss). The Company is conducting two pivotal Phase III clinical trials evaluating enobosarm for the prevention and treatment of muscle wasting in patients with non-small cell lung cancer.

Additionally, the Company has been developing Capesaris^® (GTx-758), an oral nonsteroidal selective estrogen receptor alpha agonist, for primary (first line) androgen deprivation therapy for advanced prostate cancer and secondary (second line) hormonal treatment. On February 21, 2012, the Company announced that the United States Food and Drug Administration (“FDA”) had placed a clinical hold on the Company’s three clinical trials evaluating Capesaris^®. See Note 13, Subsequent Events, for further discussion.

The Company sells FARESTON^® (toremifene citrate) 60 mg tablets, approved for the treatment of advanced metastatic breast cancer in postmenopausal women, in the United States. The Company previously determined to discontinue its toremifene 80 mg and toremifene 20 mg development programs.

Significant Accounting Policies

12 Months Ended

Dec. 31, 2011

Significant Accounting Policies [Abstract]

Significant Accounting Policies

2. Significant Accounting Policies

Basis of Presentation

The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). Additionally, GTx operates in one business segment.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual amounts and results could differ from those estimates.

Cash and Cash Equivalents

The Company considers highly liquid investments with initial maturities of three months or less to be cash equivalents.

Short-term Investments

At December 31, 2011 and 2010, short-term investments consisted of certificates of deposit with original maturities of greater than three months and less than one year. As the Company has the positive intent and ability to hold the certificates of deposit until maturity, these investments have been classified as held to maturity investments and are stated at cost, which approximates fair value.

Accounts Receivable

Accounts receivable are recorded net of allowances for cash discounts for prompt payment. The Company makes judgments as to its ability to collect outstanding receivables and will provide allowances for the portion of receivables if and when collection becomes doubtful. The Company has not recorded reserves related to the collectability of its accounts receivable for the years ended December 31, 2011 and 2010.

Inventory

Inventory consists of FARESTON^® tablets that are manufactured by Orion Corporation (“Orion”) and delivered to the Company as finished goods. Inventory is stated at the lower of cost (first-in, first-out method) or market. The Company analyzes its current inventory levels and will write down inventory if it has become un-saleable or has a cost basis in excess of its expected net realizable value. To date, there have been no inventory write-downs.

Property and Equipment

Property and equipment is stated at cost. Amortization of leasehold improvements is recognized over the shorter of the estimated useful life of the leasehold improvement or the lease term. Depreciation is computed using the straight-line method over the estimated useful lives as follows:


Laboratory and office equipment		3 to 5 years

Leasehold improvements		3 to 7 years

Furniture and fixtures		5 years

Computer equipment and software		3 years

Intangible Assets

The Company amortizes its purchased intangible assets with finite lives over their estimated economic lives. The Company’s purchased intangible assets, license fees, represent the value of each license acquired by the Company pursuant to the agreements described in Note 6, Intangible Assets. License fees are amortized on a straight-line basis over the respective terms of the agreements.

Impairment of Long-Lived Assets

The Company reviews long-lived assets for impairment whenever events or changes in facts and circumstances are present, both internally and externally, that may indicate impairment of long-lived assets. An impairment loss is recognized when estimated future cash flows are less than the carrying amount. The cash flow estimates are based on management’s best estimates, using appropriate and customary assumptions and projections at the time. See Note 6, Intangible Assets, for further discussion.

Fair Value of Financial Instruments

The carrying amounts of the Company’s financial instruments, which include cash, cash equivalents, short-term investments, accounts receivable and accounts payable approximate their fair values. The method of determining the fair value for the Company’s short-term investments is discussed above (See Short-term Investments).

Concentration of Risk

Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash and cash equivalents, short-term investments and accounts receivable. The Company has established guidelines relating to diversification and maturities of its cash equivalents and short-term investments which are designed to manage risk. The Company’s cash and cash equivalents consist of bank deposits, certificates of deposit, and money market mutual funds. Bank deposits may at times be in excess of FDIC insurance limits. The Company’s short-term investments consist of investments in certificates of deposit with original maturities of greater than 3 months and less than 1 year as discussed above (See Short-term Investments).

Three wholesale drug distributors individually comprised 25%, 40% and 33%, respectively, of the Company’s accounts receivable as of December 31, 2011. These same three distributors represented 22%, 40% and 33%, respectively, of the Company’s product sales for the year ended December 31, 2011.

Revenue Recognition

The Company recognizes revenue from product sales of FARESTON^® less deductions for estimated sales discounts and sales returns. Revenue from product sales is recognized when persuasive evidence of an arrangement exists, title passes, the price is fixed or determinable, and collectability is reasonably assured. The Company accounts for rebates to certain governmental agencies as a reduction of product sales. The Company allows customers to return product within a specified time period prior to and subsequent to the product’s labeled expiration date. The Company estimates an accrual for product returns, which is recorded as a reduction of product sales, based on factors which include historical product returns and estimated product in the distribution channel which is expected to exceed its expiration date. At December 31, 2011 and 2010, the Company’s accrual for product returns was $1,114 and $802, respectively.

Collaboration revenue consisted of non-refundable upfront payments, license fees, reimbursements for research and development activities, and milestone payments associated with the Company’s former collaboration and license agreements. Revenues from the Company’s prior collaboration and license agreements were recognized based on the performance requirements of the specific agreements. The Company analyzed agreements with multiple element arrangements to determine whether the deliverables under the agreement, including license and performance obligations such as joint steering committee participation and research and development activities, could have been separated or whether all of the deliverables must have been accounted for as a single unit of accounting. Revenues from milestone payments for which the Company had no continuing performance obligations were recognized upon achievement of the performance milestone, as defined in the related agreement, provided the milestone was substantive and a culmination of the earnings process had occurred. See Note 8, Collaboration and License Agreements, for further discussion.

Research and Development Expenses

Research and development expenses include, but are not limited to, the Company’s expenses for personnel, supplies, and facilities associated with research activities, screening and identification of product candidates, formulation and synthesis activities, manufacturing, preclinical studies, toxicology studies, clinical trials, regulatory and medical affairs activities, quality assurance activities and license fees. The Company expenses these costs in the period in which they are incurred. The Company estimates its liabilities for research and development expenses in order to match the recognition of expenses to the period in which the actual services are received. As such, accrued liabilities related to third party research and development activities are recognized based upon the Company’s estimate of services received and degree of completion of the services in accordance with the specific third party contract.

Patent Costs

The Company expenses patent costs, including legal expenses, in the period in which they are incurred. Patent expenses are included in general and administrative expenses in the Company’s statements of operations.

Income Taxes

The Company accounts for deferred taxes by recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. A valuation allowance is provided when it is more likely than not that some portion or all of the deferred tax assets will not be realized. Accordingly, at December 31, 2011 and 2010, net of the valuation allowance, the net deferred tax assets were reduced to zero. See Note 9, Income Taxes, for further discussion.

Share-Based Compensation

The Company has stock option and equity incentive plans that provide for the purchase or acquisition of the Company’s common stock by certain of the Company’s employees and non-employee directors. The Company recognizes compensation expense for its share-based payments based on the fair value of the awards over the period during which an employee or non-employee director is required to provide service in exchange for the award. See Note 3, Share-Based Compensation, for further discussion.

Other Income, Net

Other income, net consists of interest earned on the Company’s cash, cash equivalents and short-term investments, interest expense, foreign currency transaction gains and losses, and other non-operating income or expense.

For the year ended December 31, 2010, other income, net included income from grants totaling $1,220 awarded to the Company by the United States Government under the Qualifying Therapeutic Discovery Project Program, which was established under the Patient Protection and Affordable Care Act. The Company was granted $244 for each of five applications submitted for the Company’s cancer and cancer supportive care research and development programs.

Basic and Diluted Net (Loss) Income Per Share

Basic net (loss) income per share is calculated based on the weighted average number of common shares outstanding during the period. Diluted net (loss) income per share gives effect to the dilutive potential of common stock consisting of stock options.

The following table sets forth the computation of the Company’s basic and diluted net (loss) income per share for the years ended December 31, 2011, 2010 and 2009:

		September 30,			September 30,		September 30,
	Years Ended December 31,
	2011			2010		2009

Basic and diluted net (loss) income per share
Numerator:
Net (loss) income	$	(33,294	)	$	15,294	$	(46,256	)

Denominator:
Weighted average shares used in computing basic and diluted net (loss) income per share		57,359,466			38,874,721		36,415,379

Basic and diluted net (loss) income per share	$	(0.58	)	$	0.39	$	(1.27	)

Weighted average options outstanding to purchase shares of common stock of 5,327,752, 4,473,576, and 3,597,716 were excluded from the calculation of diluted net (loss) income per share for the years ended December 31, 2011, 2010 and 2009, respectively, as inclusion of the options would have had an anti-dilutive effect on the net (loss) income per share for the periods. At December 31, 2011, the Company had outstanding 62,790,223 shares of common stock.

Comprehensive (Loss) Income

For all periods presented, there were no differences between net (loss) income and comprehensive (loss) income.

Reduction in Force

In June 2011, the Company implemented a reduction in its workforce in connection with its decision to discontinue development and commercialization of its toremifene 80 mg and toremifene 20 mg product candidates. The reduction in force was effective immediately and represented approximately 15% of the Company’s total workforce, including three non-executive officers of the Company. As a result of the workforce reduction, the Company incurred severance related cash expenses of approximately $681, of which $633 was included in general and administrative expenses and $48 was included in research and development expenses for the year ended December 31, 2011. The Company paid these expenses in their entirety in 2011 and had no recorded liabilities related to the workforce reduction as of December 31, 2011. Additionally, the Company incurred a one-time, non-cash share-based compensation charge of $481 related to the modification of certain stock option provisions for the affected non-executive officers, which was included in general and administrative expenses for the year ended December 31, 2011. This charge was offset by the reversal of $704 of previously recognized share-based compensation expense for non-vested stock options that were cancelled in conjunction with the workforce reduction. Of this amount, $646 was included in general and administrative expenses and $58 was included in research and development expenses for the year ended December 31, 2011.

Recent Accounting Pronouncements

In May 2011, the Financial Accounting Standards Board issued Accounting Standard Update 2011-04, Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRS. The new guidance results in a consistent definition of fair value and common requirements for measurement of and disclosure about fair value between U.S. GAAP and International Financial Reporting Standards. While many of the amendments to U.S. GAAP are not expected to have a significant effect on practice, the new guidance changes some fair value measurement principles and disclosure requirements. This new guidance is effective for fiscal years and interim periods beginning after December 15, 2011. The Company does not expect the adoption of the standard update to have a significant impact on its financial position or results of operations.

- Definition

The entire disclosure for all significant accounting policies of the reporting entity.

+ References+ Details

Share-Based Compensation

12 Months Ended

Dec. 31, 2011

Share-Based Compensation [Abstract]

Share-Based Compensation

3. Share-Based Compensation

Share-based payments include stock option grants under the Company’s stock option and equity incentive plans and deferred compensation arrangements for the Company’s non-employee directors.

The Company grants to employees and non-employee directors options to purchase common stock under various plans at prices equal to the fair market value of the stock on the dates the options are granted as determined in accordance with the terms of the applicable plan. The options have a term of ten years from the grant date and vest over three years from the grant date for director options and over periods of up to five years from the grant date for employee options. Employees generally have three months after the employment relationship ends to exercise all vested options except in the case of voluntary retirement, disability or death, where exercise periods are generally longer. The Company issues new shares of common stock upon the exercise of options. The Company estimates the fair value of certain stock option awards as of the date of the grant by applying the Black-Scholes-Merton option pricing valuation model. The application of this valuation model involves assumptions that are judgmental and highly sensitive in the determination of compensation expense.

The fair value of each option is amortized into compensation expense on a straight-line basis between the grant date for the award and each vesting date. The amount of share-based compensation expense recognized is reduced ratably over the vesting period by an estimate of the percentage of options granted that are expected to be forfeited or canceled before becoming fully vested.

The following table summarizes share-based compensation expense included within the statements of operations for each of the three years in the period ended December 31, 2011:

		September 30,		September 30,		September 30,
	Years Ended December 31,
	2011		2010		2009
Research and development expenses	$	1,972	$	2,340	$	2,143
General and administrative expenses		2,432		2,546		3,209

Total share-based compensation	$	4,404	$	4,886	$	5,352

Share-based compensation expense recorded in the statement of operations as general and administrative expense for the years ended December 31, 2011, 2010 and 2009 included share-based compensation expense related to deferred compensation arrangements for the Company’s non-employee directors of $178, $187 and $178, respectively. See Note 10, Directors’ Deferred Compensation Plan, for further discussion of deferred compensation arrangements for the Company’s non-employee directors. Additionally, as part of the June 2011 workforce reduction, the Company modified certain stock options of three terminated non-executive officers to accelerate the vesting of certain outstanding non-vested stock options and to extend the post-termination exercise period of their vested stock options. As a result of these modifications, the Company incurred a one-time share-based compensation charge of $481, which was included in general and administrative expenses for the year ended December 31, 2011. This charge was offset by the reversal of $704 of previously recognized share-based compensation expense for non-vested stock options that were canceled in conjunction with the total workforce reduction. Of this amount, $646 was included in general and administrative expenses and $58 was included in research and development expenses for the year ended December 31, 2011.

For the years ended December 31, 2011, 2010 and 2009, the weighted average grant date fair value per share of options granted was $1.75, $2.62 and $8.45, respectively. The weighted average for key assumptions used in determining the grant date fair value of options granted in 2011, 2010 and 2009, and a summary of the methodology applied to develop each assumption were as follows:

		September 30,			September 30,			September 30,
	Years Ended December 31,
	2011			2010			2009
Expected price volatility		64.9	%		64.6	%		55.0	%
Risk-free interest rate		2.54	%		3.36	%		2.04	%
Weighted average expected life in years		6.5 years			6.5 years			6.9 years
Dividend yield		0	%		0	%		0	%

Expected Price Volatility—This is a measure of the amount by which a price has fluctuated or is expected to fluctuate. The Company based its determination of expected volatility on its historical stock price volatility. An increase in the expected price volatility will increase compensation expense.

Risk-Free Interest Rate—This is determined using U.S. Treasury rates where the term is consistent with the expected life of the stock options. An increase in the risk-free interest rate will increase compensation expense.

Expected Life—This is the period of time over which the options granted are expected to remain outstanding and is determined by calculating the average of the vesting term and the contractual term of the options. The Company has utilized this method due to the lack of historical option exercise information related to the Company’s stock option and equity incentive plans. Options granted have a maximum term of ten years. An increase in the expected life will increase compensation expense.

Dividend Yield—The Company has not made any dividend payments nor does it have plans to pay dividends in the foreseeable future. An increase in the dividend yield will decrease compensation expense.

The following is a summary of stock option transactions for all of the Company’s stock option and equity incentive plans for the three year period ended December 31, 2011:

		September 30,			September 30,
	Number of Shares			Weighted Average Exercise Price Per Share
Options outstanding at January 1, 2009		2,673,976			13.01
Options granted		1,118,150			15.07
Options forfeited or expired		(408,821	)		14.52
Options exercised		(18,434	)		7.37

Options outstanding at December 31, 2009		3,364,871			13.55
Options granted		1,320,500			4.14
Options forfeited or expired		(250,626	)		10.68
Options exercised		(4,250	)		2.24

Options outstanding at December 31, 2010		4,430,495			10.91
Options granted		1,395,000			2.82
Options forfeited or expired		(866,930	)		8.23
Options exercised		(13,000	)		4.20

Options outstanding at December 31, 2011		4,945,565			9.12


Options vested and expected to vest at December 31, 2011		4,821,162			9.20

The following table summarizes information about stock options outstanding at December 31, 2011:

		September 30xxxxxx,		September 30xxxxxx,		September 30xxxxxx,		September 30xxxxxx,		September 30xxxxxx,
Options Outstanding							Options Exercisable
Exercise Price	Number Outstanding		Weighted Average Remaining Contractual Life (years)		Weighted Average Exercise Price		Number Exercisable		Weighted Average Exercise Price
$2.65 - $4.20		2,133,100		8.26	$	3.40		297,636	$	3.95
$5.17 - $15.59		1,649,047		4.29		10.62		1,151,572		9.81
$15.64 - $20.40		1,163,418		6.03		17.48		406,021		18.15

		4,945,565		6.41		9.12		1,855,229		10.69

At December 31, 2011, the aggregate intrinsic value of all outstanding options was $759 with a weighted average remaining contractual term of 6.41 years. Of the Company’s outstanding options, 1,855,229 options were exercisable and had a weighted average remaining contractual term of 4.12 years and an aggregate intrinsic value of $23. Additionally, the Company’s vested and expected to vest options had a weighted average remaining contractual term of 6.36 years and an intrinsic value of $717.

Options to purchase 13,000 shares were exercised during the year ended December 31, 2011. The total intrinsic value of options exercised during the years ended December 31, 2011, 2010 and 2009 was $15, $6 and $99, respectively. At December 31, 2011, the total compensation cost related to non-vested options not yet recognized was $6,341, with a weighted average expense recognition period of 2.78 years. Shares available for future issuance under the Company’s stock option and equity incentive plans were 1,825,241 at December 31, 2011. On January 1, 2012, shares available for future issuance under the Company’s stock option and equity incentive plans increased to 5,059,752 shares in accordance with the provisions of such plans.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 123R

-Paragraph 64, 65, A240

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Statement of Position (SOP)

-Number 93-6

-Paragraph 53

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 14

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 50

-Section 50

-Paragraph 1

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+ Details

Property and Equipment, Net

12 Months Ended

Dec. 31, 2011

Property and Equipment, Net [Abstract]

Property and Equipment, Net

4. Property and Equipment, Net

Property and equipment, net consisted of the following:

		September 30,			September 30,
	December 31,
	2011			2010
Laboratory and office equipment	$	4,173		$	4,183
Computer equipment and software		2,646			2,612
Furniture and fixtures		1,361			1,361
Leasehold improvements		1,024			1,024

		9,204			9,180
Less: accumulated depreciation		(8,108	)		(7,140	)

	$	1,096		$	2,040

Depreciation and amortization expense for the years ended December 31, 2011, 2010 and 2009 was $998, $1,346 and $1,447, respectively. Of these amounts, $425, $543 and $619, respectively, were included in research and development expenses in the statements of operations.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details

Accrued Expenses and Other Current Liabilities

12 Months Ended

Dec. 31, 2011

Accrued Expenses and Other Current Liabilities [Abstract]

Accrued Expenses and Other Current Liabilities

5. Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:

		September 30,		September 30,
	December 31,
	2011		2010
Clinical trials	$	2,286	$	189
Product returns		1,114		802
Selling, general and administrative		1,037		1,331
Research and development		73		379
Employee compensation		265		326
Current portion of capital lease and financed equipment liabilities		82		85

	$	4,857	$	3,112

Intangible Assets, Net

12 Months Ended

Dec. 31, 2011

Intangible Assets, Net [Abstract]

Intangible Assets, Net

6. Intangible Assets, Net

Intangible assets, net consisted of the following:

		September 30,			September 30,
	December 31,
	2011			2010
License fees	$	290		$	2,703
Less: accumulated amortization		(89	)		(862	)

	$	201		$	1,841

In accordance with the terms of the Amended and Restated License and Supply Agreement that the Company entered into with Orion effective January 1, 2005 (“Orion License and Supply Agreement”), the Company paid a license fee to Orion of $4,826. In accordance with the terms of the Consolidated, Amended, and Restated License Agreement (“SARM License Agreement”) and the Amended and Restated License Agreement (“SERM License Agreement”) that the Company entered into with the University of Tennessee Research Foundation (“UTRF”) in July 2007 and September 2007, respectively, the Company paid a one-time up-front fee of $290 per agreement.

Based upon the Company’s decision to discontinue toremifene 80 mg development and after analyzing future cash flows and estimates of fair market value from a market participant perspective, the Company determined that its toremifene 80 mg intangible asset was impaired and recorded an impairment charge of $1,598 during the first quarter of 2011. The impaired intangible asset consisted of capitalized license fees paid to Orion related to the Company’s toremifene 80 mg program. The impairment charge was included in research and development expenses in the statement of operations for the year ended December 31, 2011.

In the second quarter of 2010, the Company determined that it would discontinue its toremifene 20 mg development program and, as a result, recorded an impairment charge of $1,687. The impaired intangible assets consisted of capitalized license fees related to the Company’s toremifene 20 mg program paid under the Orion License and Supply Agreement and the SERM License Agreement. The impairment charge was included in research and development expenses in the statement of operations for the year ended December 31, 2010.

The Company’s remaining intangible asset, net at December 31, 2011 consisted of $201 related to the SARM License Agreement. This intangible asset is being amortized on a straight-line basis over the term of the agreement, which the Company estimates to be approximately 14 years.

Amortization expense for the years ended December 31, 2011, 2010 and 2009 was $42, $227 and $338, respectively. Estimated future intangible asset amortization expense as of December 31, 2011 is as follows:

		September 30,
Years Ending December 31,
2012	$	21
2013		21
2014		21
2015		21
2016		21
Thereafter		96

Total	$	201

- Definition

The entire disclosure for all or part of the information related to intangible assets.

+ References+ Details

Common and Preferred Stock

12 Months Ended

Dec. 31, 2011

Common and Preferred Stock [Abstract]

Common and Preferred Stock

7. Common and Preferred Stock

The Company’s certificate of incorporation authorizes the Company to issue 120,000,000 shares of common stock, $0.001 par value per share, and 5,000,000 shares of preferred stock, $0.001 par value per share.

On December 18, 2007, the Company completed a private placement of 1,285,347 shares of common stock to Merck at a per share price of $23.34. See Note 8, Collaboration and License Agreements, for further discussion.

On November 1, 2010, the Company completed an underwritten public offering of 14,285,715 shares of its common stock at a price to the public of $2.80 per share. Net cash proceeds from the public offering were approximately $37,700 after deducting underwriting discounts and commissions and other offering expenses. The Company also granted the underwriter a 30-day option to purchase up to an additional 2,142,857 shares of common stock to cover over-allotments, if any. On November 24, 2010, the underwriter exercised its option and purchased an additional 1,000,000 shares of the Company’s common stock at a price of $2.80 per share. Net cash proceeds from the exercise of the over-allotment option were approximately $2,600 after deducting underwriting discounts and commissions and other offering expenses.

On May 6, 2011, the Company filed a Certificate of Amendment to the Company’s Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to increase the number of authorized shares of the Company’s common stock, par value $0.001 per share, from 60,000,000 shares to 120,000,000 shares. The amendment was approved by the Company’s stockholders at the Company’s 2011 Annual Meeting of Stockholders held on May 5, 2011.

On June 28, 2011, the Company completed an underwritten public offering of 10,000,000 shares of its common stock at a price to the public of $4.75 per share. The Company also granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock to cover over-allotments, if any. The underwriters exercised this option and purchased an additional 1,023,000 shares of the Company’s common stock on June 28, 2011 at a price of $4.75 per share. Net cash proceeds from the public offering were approximately $49,000 after deducting the underwriting discount and offering expenses.

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

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+ Details

Collaboration and License Agreements

12 Months Ended

Dec. 31, 2011

Business and Collaboration and License Agreements [Abstract]

Collaboration and License Agreements

8. Collaboration and License Agreements

Orion Corporation License and Supply Agreement

In March 2000, the Company entered into a license and supply agreement with Orion to develop and commercialize products containing toremifene, which was subsequently amended in 2001 and 2003 (“Original Orion License”). The Company’s rights under the Original Orion License were limited to specific disease fields pertaining to prostate cancer. In December 2004, the Company entered into an agreement with Orion to purchase specified FARESTON^® related assets which Orion had re-acquired from another licensee. The Company also entered into the Orion License and Supply Agreement, effective January 2005, with Orion which replaced the Original Orion License and provided the Company an exclusive license from Orion to develop and commercialize toremifene-based products for all human indications worldwide, except breast cancer outside of the United States. Under the Orion License and Supply Agreement, the Company was required to pay a license fee of $4,826 and the Company is obligated to pay a royalty in the low-teens to Orion on sales by the Company, its affiliates and third-party sublicensees of toremifene-based products. The term of the Orion License and Supply Agreement lasts, on a country-by-country basis, until the later of expiration of the Company’s own patents claiming the manufacturing or the methods of use of toremifene for prostate cancer or the end of all marketing or regulatory exclusivity which the Company may obtain for toremifene-based products. Orion may terminate the Orion License and Supply Agreement, in its entirety or in some cases on a country-by-country basis, as a result of the Company’s uncured material breach or the Company’s bankruptcy.

Ipsen Collaboration and License Agreement

In September 2006, the Company entered into a collaboration and license agreement with Ipsen (the “Ipsen Collaboration Agreement”) pursuant to which the Company granted Ipsen exclusive rights in the European Union, Switzerland, Norway, Iceland, Lichtenstein, and the Commonwealth of Independent States (the “European Territory”) to develop and commercialize toremifene in all indications which the Company has licensed from Orion, which include all indications in humans except the treatment and prevention of breast cancer outside of the United States.

In accordance with the terms of the Ipsen Collaboration Agreement, Ipsen paid the Company €23,000 as a license fee and expense reimbursement. In February 2008, the Company earned a milestone of €1,000 (approximately $1,482) with the achievement of the primary endpoint in the Company’s completed pivotal Phase III clinical trial evaluating toremifene 80 mg to reduce fractures in men with prostate cancer on androgen deprivation therapy. This amount was recognized as collaboration revenue in the first quarter of 2008. Under the Ipsen Collaboration Agreement, the Company recorded deferred revenue of $29,330 related to the Ipsen upfront license fee and expense reimbursement which was being amortized into revenue on a straight-line basis over the estimated development period for toremifene in the European Territory.

In the first quarter of 2011, the Company and Ipsen mutually agreed to terminate the Ipsen Collaboration Agreement, as then amended. During the first quarter of 2011, the Company recognized as collaboration revenue all of the remaining $8,066 unamortized revenue that was deferred as of December 31, 2010. This amount is included in collaboration revenue for the year ended December 31, 2011. The Company recognized as collaboration revenue $1,930 and $5,777 for the years ended December 31, 2010 and 2009, respectively, from the amortization of the Ipsen deferred revenue.

Merck & Co., Inc. Collaboration and License Agreement

In December 2007, GTx and Merck & Co., Inc. (“Merck”) entered into a global exclusive license and collaboration agreement (the “Merck Collaboration Agreement”) governing the Company’s and Merck’s joint research, development and commercialization of SARM compounds and related SARM products for all potential indications of interest. In March 2010, the Company reacquired full rights to its SARM program, including enobosarm, following the termination by the Company and Merck of the Merck Collaboration Agreement.

Under the Merck Collaboration Agreement, the Company granted Merck an exclusive worldwide license under its SARM-related patents and know-how. The Company conducted preclinical research of SARM compounds and products, and Merck was primarily responsible under the terms of the agreement for conducting and funding development and commercialization of products developed under the Merck Collaboration Agreement. Merck paid the Company an upfront licensing fee of $40,000 and purchased approximately $30,000 of the Company’s common stock. In addition, Merck paid the Company $15,000 in cost reimbursements for research and development activities in equal annual installments over a three year period.

The Company deferred the recognition of the upfront licensing fee of $40,000 and the $10,800 in equity premium received that represented the difference between the purchase price and the closing price of the Company’s common stock on the date the stock was purchased by Merck. These amounts were being recognized as collaboration revenue over the period of the Company’s performance obligation, which the Company estimated to be ten years. The $5,000 of cost reimbursements received in both December 2008 and December 2009 were being recognized as collaboration revenue over the remaining period of the Company’s performance obligation. In March 2010, the Company reacquired full rights to the Company’s SARM program following the termination by the Company and Merck of the Merck Collaboration Agreement. In the first quarter of 2010, the Company recognized $54,856 as collaboration revenue, which consisted of the remaining $49,856 unamortized revenue that was deferred as of December 31, 2009, as well as the final $5,000 research and development activities cost reimbursement due under the terms of the Merck Collaboration Agreement in December 2010 for which the Company had no further performance obligation. The Company recognized as collaboration revenue $5,664 for the year ended December 31, 2009 from the amortization of the Merck deferred revenue.

University of Tennessee Research Foundation License Agreements

The Company and UTRF are parties to the SARM License Agreement pursuant to which the Company was granted exclusive worldwide rights in all existing SARM technologies owned or controlled by UTRF, and certain improvements thereto, and exclusive rights to certain future SARM technology that may be developed by certain scientists at the University of Tennessee or subsequently licensed to UTRF under certain existing inter-institutional agreements with The Ohio State University. Under the SARM License Agreement, the Company is obligated to pay UTRF annual license maintenance fees, low single-digit royalties on net sales of products and mid single-digit royalties on sublicense revenues.

Additionally, the Company and UTRF previously entered into the SERM License Agreement pursuant to which the Company was granted exclusive worldwide rights to UTRF’s method of use patents relating to SERMs, including toremifene for chemoprevention of prostate cancer. In light of the Company’s decision to discontinue further clinical development of toremifene 20 mg, the Company exercised its right to terminate the SERM License Agreement with UTRF during the first quarter of 2011.

Income Taxes

12 Months Ended

Dec. 31, 2011

Income Taxes [Abstract]

Income Taxes

9. Income Taxes

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The principal components of the Company’s net deferred income tax assets and liabilities consisted of the following:

		September 30,			September 30,
	December 31,
	2011			2010
Deferred income tax assets:
Net federal and state operating loss carryforwards	$	101,777		$	87,766
Research and development credits		10,921			9,776
Deferred revenue		—			3,215
Share-based compensation		8,307			7,332
Depreciation and amortization		1,334			776
Other		368			624

Total deferred tax assets		122,707			109,489

Valuation allowance		(122,707	)		(109,489	)

Net deferred tax assets and liabilities	$	—		$	—

Realization of deferred tax assets is dependent upon future earnings, if any, the timing and amount of which are uncertain. Accordingly, due to the Company’s history of net operating losses, the net deferred tax assets have been fully offset by a valuation allowance. The valuation allowance increased by $13,218 in 2011, decreased by $3,878 in 2010 and increased by $17,979 in 2009.

At December 31, 2011, the Company had net federal operating loss carryforwards of approximately $262,874, which expire from 2018 to 2031 if not utilized. The Company had state operating loss carryforwards of approximately $247,421, which expire from 2012 to 2026 if not utilized. The Company also had research and development credits of approximately $10,921, which expire from 2020 to 2031 if not utilized.

Both of the net federal and state operating loss carryforwards include approximately $2,141 of deductions related to the exercise of stock options. This amount represents an excess tax benefit and has not been included in the gross deferred tax asset reflected for net federal and state operating loss carryforwards. If utilized, the benefits from these deductions will be recorded as an adjustment to additional paid in capital.

The Company will recognize the impact of a tax position in the financial statements if that position is more likely than not of being sustained on audit based on the technical merits of the position. As of December 31, 2011, the Company had no unrecognized tax benefits. Utilization of the Company’s net operating loss carryforwards may be subject to a substantial annual limitation due to ownership change limitations provided by the Internal Revenue Code of 1986, as amended and similar state provisions. The annual limitations may result in the expiration of net operating loss carryforwards before utilization. The Company has not yet performed a Section 382 change in control study in order to determine if there is a limitation of its net operating loss carryforwards. Until this study is performed, the Company cannot be certain of the use of these loss carryforwards. Additionally, the Company has not yet conducted an in depth study of its research and development credits. This study may result in an increase or decrease to the Company’s research and development credits. Until studies are conducted of the Company’s net operating loss carryforwards and research and development credits, no amounts are being presented as an uncertain tax position. The Company’s net deferred tax assets have been fully offset by a valuation allowance. Therefore, future changes to the Company’s unrecognized tax benefits would be offset by an adjustment to the valuation allowance and there would be no impact on the Company’s balance sheet, statement of operations, or cash flows. The Company does not expect its unrecognized tax benefits to change significantly over the next 12 months.

The Company is currently open to audit under the statute of limitations by the Internal Revenue Service and the appropriate state income taxing authorities for all years due to the net loss carryforwards from those years. The Company is currently not under examination by the Internal Revenue Service or any other taxing authorities. The Company has not recorded any interest and penalties on any unrecognized tax benefits since its inception.

For the year ended December 31, 2009, the Company recognized a federal income tax benefit of $238 due to the adoption of a provision in the Housing and Economic Recovery Act of 2008 that allowed the Company to claim refunds for portions of its pre-2006 research and development tax credits.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

+ Details

Directors Deferred Compensation Plan

12 Months Ended

Dec. 31, 2011

Directors' Deferred Compensation Plan [Abstract]

Directors' Deferred Compensation Plan

10. Directors’ Deferred Compensation Plan

Non-employee directors may defer all or a portion of their fees under the Company’s Directors’ Deferred Compensation Plan until termination of their status as directors. Deferrals can be made into a cash account, a stock account, or a combination of both. Stock accounts will be paid out in the form of Company common stock, except that any fractional shares will be paid out in cash valued at the then current market price of the Company’s common stock. Cash accounts and stock accounts under the Directors’ Deferred Compensation Plan are credited with interest or the value of any cash and stock dividends, respectively. Non-employee directors are fully vested in any amounts that they elect to defer under the Directors’ Deferred Compensation Plan.

For the years ended December 31, 2011, 2010 and 2009, the Company incurred non-employee director fee expense of $260, $279 and $298, respectively, of which $178, $187 and $178 was deferred into stock accounts and will be paid in common stock following separation from service as a director. At December 31, 2011, 131,552 shares of the Company’s common stock had been credited to individual director stock accounts under the Directors’ Deferred Compensation Plan, and no amounts had been credited to individual director cash accounts under the Directors’ Deferred Compensation Plan.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2011

Commitments and Contingencies [Abstract]

Commitments and Contingencies

12. Commitments and Contingencies

Operating Lease Commitments

The Company leases laboratory facilities and office space pursuant to a sublease, which is accounted for as an operating lease. The sublease expires on December 31, 2012, with an option to extend the sublease for an additional two years. The Company subleases additional office space under a sublease that is accounted for as an operating lease. This sublease has escalating rent payments and expires on April 30, 2015. Total rent expense under these operating leases was approximately $933, $1,508 and $1,458 for the years ended December 31, 2011, 2010 and 2009, respectively.

As of December 31, 2011, annual minimum payments under operating lease arrangements were as follows:

		September 30,
2012	$	933
2013		538
2014		553
2015		185

Total	$	2,209

Equipment Financing and Capital Lease Obligations

As of December 31, 2011, 2010 and 2009, the Company had approximately $268 of property and equipment that was financed or acquired through a capital lease. Amortization expense for these assets is included in depreciation expense, with accumulated amortization of $194, $128 and $24 at December 31, 2011, 2010 and 2009, respectively.

As of December 31, 2011, the annual minimum payments under these financing and capital lease arrangements were as follows:

		September 30,
2012	$	85
2013		7
2014		2

Total	$	94

Purchase Commitments

The Company had outstanding contractual purchase obligations of $12 and $7 at December 31, 2011 and 2010, respectively. These outstanding contractual purchase obligations are not recorded in the accompanying financial statements as the amounts represent future obligations, not liabilities, at December 31, 2011 and 2010, respectively.

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Interpretation (FIN)

-Number 14

-Paragraph 3

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 5

-Paragraph 9, 10, 11, 12

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.25)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 450

-SubTopic 20

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 440

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

+ Details

Subsequent Events

12 Months Ended

Dec. 31, 2011

Subsequent Events [Abstract]

Subsequent Events

13. Subsequent Events

The Company has evaluated all events or transactions that occurred after December 31, 2011 up through the date the financial statements were issued.

On February 21, 2012, the Company announced that the FDA had placed a clinical hold on the Company’s clinical trials evaluating Capesaris^® for primary (first line) androgen deprivation therapy for advanced prostate cancer and secondary (second line) hormonal treatment. A clinical hold is a notification issued by the FDA to the trial sponsor to delay a clinical trial or suspend an ongoing clinical trial. The clinical hold, which was effective as of February 17, 2012, affects the Company’s Phase II maintenance dose finding clinical trial and its Phase II loading dose finding clinical trial, as well as its Phase II clinical trial in men with castration resistant prostate cancer. The clinical hold followed the Company’s reports to the FDA of venous thromboembolic events, or blood clots, in subjects treated with Capesaris^® at the doses being studied in the trials (1000 mg and higher). There were two deaths in subjects treated with Capesaris^® and two deaths in subjects treated with Lupron Depot^®. As a result of the clinical hold, the Company suspended further enrollment into these three studies and notified clinical sites to discontinue treatment of subjects with Capesaris^®.

Subject to further input from the FDA, the Company believes there may be a path forward to develop Capesaris^® at lower doses to treat men with metastatic hormone sensitive prostate cancer and men with castration resistant prostate cancer. The Company plans to work with the FDA to determine the appropriate course of action, if any, to evaluate Capesaris ^® in these patient populations. This subsequent event does not materially impact the valuation of the Company’s assets.

There were no other material recognizable or nonrecognizable subsequent events during the period evaluated.

Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2011

Quarterly Financial Data [Abstract]

Quarterly Financial Data (Unaudited)

14. Quarterly Financial Data (Unaudited)

The following is a summary of the quarterly results of operations for the years ended December 31, 2011 and 2010:

		September 30,			September 30,			September 30,			September 30,
	2011 Quarters Ended
	March 31			June 30			September 30			December 31

Revenues:
Product sales, net	$	1,229		$	1,645		$	2,029		$	1,770
Collaboration revenue		8,066			—			—			—

Total revenues		9,295			1,645			2,029			1,770
Costs and expenses:
Cost of product sales		205			264			311			275
Research and development expenses		7,303			7,591			8,181			8,863
General and administrative expenses		4,684			4,470			2,904			3,380

Total costs and expenses		12,192			12,325			11,396			12,518

Loss from operations		(2,897	)		(10,680	)		(9,367	)		(10,748	)
Other income, net		302			7			23			66

Net loss	$	(2,595	)	$	(10,673	)	$	(9,344	)	$	(10,682	)


Net loss per share:
Basic and diluted	$	(0.05	)	$	(0.21	)	$	(0.15	)	$	(0.17	)

		September 30,		September 30,			September 30,			September 30,
	2010 Quarters Ended
	March 31		June 30			September 30			December 31

Revenues:
Product sales, net	$	799	$	599		$	960		$	1,469
Collaboration revenue		55,778		336			336			336

Total revenues		56,577		935			1,296			1,805
Costs and expenses:
Cost of product sales		151		134			216			267
Research and development expenses		7,650		9,477			5,593			5,775
General and administrative expenses		4,509		4,325			4,066			4,519

Total costs and expenses		12,310		13,936			9,875			10,561

Income (loss) from operations		44,267		(13,001	)		(8,579	)		(8,756	)
Other income, net		72		60			4			1,227

Net income (loss)	$	44,339	$	(12,941	)	$	(8,575	)	$	(7,529	)


Net income (loss) per share:
Basic and diluted	$	1.22	$	(0.36	)	$	(0.24	)	$	(0.16	)

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References+ Details