(in thousands, except per share data)	1998			1997			1996
Revenues:
Contract revenues	$	1,000		$	15,000		$	27,600
Net product sales		3,860			5,741			—
License fees and royalties		2,713			1,628			—
Revenues under collaborative agreements		4,910			1,459			420
Total revenues		12,483			23,828			28,020
Costs and expenses:
Cost of sales		2,036			2,585			—
Research and development		37,722			30,293			18,761
General and administrative		10,546			9,076			6,736
Total costs and expenses		50,304			41,954			25,497
Operating income (loss)		(37,821	)		(18,126	)		2,523
Other income (expense):
Interest income		8,855			7,477			3,070
Interest expense		(768	)		(837	)		(528	)
Other income		36			49			8
Net income (loss)	$	(29,698	)	$	(11,437	)	$	5,073
Basic earnings (loss) per common share	$	(1.52	)	$	(0.65	)	$	0.39
Average common shares outstanding		19,479			17,570			13,001
Diluted earnings (loss) per common share	$	(1.52	)	$	(0.65	)	$	0.35
Average common and dilutive equivalent shares outstanding		19,479			17,570			14,634
See accompanying notes to consolidated financial statements.