Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

d) On January 18, 2013, our Board of Directors elected Stephen R. Biggar, M.D., Ph.D., as a director to fill an existing vacancy. Dr. Biggar received our standard compensation package for an outside director, including a stock option to purchase up to 15,000 shares of our common stock under our 2010 Equity Incentive Plan. Information about our arrangements with our outside directors is included in our annual proxy statement, last filed on April 18, 2012, which includes the description of outside director compensation under Executive Compensation â€" Director Compensation. Dr. Biggar was not appointed to any committees at the time of his election.

Dr. Biggar serves as a partner at Baker Brothers Investments, a fund management company focused on long-term investments in life-sciences companies, and which participated in our December 2012 financing as an investor through the following funds (the "Funds"): 667, L.P., Baker Brothers Life Sciences, L.P. and 14159, L.P. The Funds purchased an aggregate of 4,466,140 shares of our common stock and 500,000 warrants to purchase common stock for an aggregate of approximately $22.0 million in the financing.

The terms of the financing are described in our Current Report on Form 8-K filed on December 18, 2012 and are incorporated herein by reference. Dr. Biggar disclaims any beneficial interest in any of our securities held by the Funds.

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