MAXYGEN INC

CIK:0001068796|SEC Filings

Basis Of Presentation And Significant Accounting Policies (Schedule Of Earnings Per Share) (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Numerator:
Numerator for basic and diluted income (loss) attributable to Maxygen, Inc.	$ (3,198)	$ 27,120	$ (5,329)	$ 24,548
Denominator:
Weighted-average shares used in computing basic net income (loss) per share	27,581	27,250	27,549	27,241
Effect of dilutive securities		138		183
Weighted-average shares used in computing diluted net income (loss) per share	27,581	27,388	27,549	27,424
Basic net income (loss) per share attributable to Maxygen, Inc.	$ (0.12)	$ 1.00	$ (0.19)	$ 0.90
Diluted net income (loss) per share attributable to Maxygen, Inc.	$ (0.12)	$ 0.99	$ (0.19)	$ 0.90

Condensed Consolidated Statements Of Cash Flows (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Operating activities
Net income (loss)	$ (5,329)	$ 24,998
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	26	27
Gain on distribution of equity securities	(60)	(143)
Non-cash stock compensation	1,368	1,248
Amortization of discount on investments	(8)	(14)
Income tax expense		70
Loss (gain) on disposal of fixed assets		4
Valuation of stock portion of distribution payable	4	(161)
Translation adjustment related to dissolution of subsidiary	252
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	53	115
Deposits and other non-current assets		124
Accounts payable	136	186
Accrued compensation	1,009	(357)
Other accrued liabilities	(208)	(486)
Net cash provided by (used in) operating activities	(2,757)	25,611
Investing activities
Purchase of available-for-sale securities	(4,999)	(37,975)
Maturities of available-for-sale securities	20,000	5,000
Acquisition of property and equipment		(27)
Net cash provided by (used in) investing activities	15,001	(33,002)
Financing activities
Cash distributions paid to common stockholders	(622)	(207)
Net liquidating dividend of subsidiary		(659)
Proceeds from issuance of common stock, net of stock repurchased to settle employee tax obligations	(23)	(48)
Repurchase of common stock		(1,536)
Net cash used in financing activities	(645)	(2,450)
Net increase (decrease) in cash and cash equivalents	11,599	(9,841)
Cash and cash equivalents at beginning of period	62,784	154,572
Cash and cash equivalents at end of period	$ 74,383	$ 144,731

Condensed Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
ASSETS
Cash and cash equivalents	$ 74,383	$ 62,784
Short-term investments	5,000	19,996
Available-for-sale investment in equity securities	22	76
Prepaid expenses and other current assets	199	252
Total current assets	79,604	83,108
Property and equipment, net	87	113
Total assets	79,691	83,221
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	381	245
Accrued compensation	2,142	947
Distribution payable	607	1,002
Other accrued liabilities	297	505
Total current liabilities	3,427	2,699
Non-current distribution payable		283
Other non-current liabilities	52	52
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, no shares issued and outstanding at December 31, 2012 and June 30, 2013
Common stock, $0.0001 par value, 100,000,000 shares authorized, 27,512,340 and 27,670,228 shares issued and outstanding at December 31, 2012 and June 30, 2013, respectively	3	3
Additional paid-in capital	213,167	212,008
Accumulated other comprehensive income (loss)	23	(172)
Accumulated deficit	(136,981)	(131,652)
Total stockholders' equity	76,212	80,187
Total liabilities and stockholders' equity	$ 79,691	$ 83,221