Annual report pursuant to Section 13 and 15(d)

Selected Quarterly Financial Data (Unaudited)

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Selected Quarterly Financial Data (Unaudited)
12 Months Ended
Dec. 31, 2017
Quarterly Financial Data [Abstract]  
Selected Quarterly Financial Information (Unaudited)
Selected Quarterly Financial Data (Unaudited)
 
The following table sets forth certain unaudited quarterly financial data for 2017 and 2016. This unaudited information has been prepared on the same basis as the audited information included elsewhere in this Annual Report on Form 10-K and includes all adjustments necessary to present fairly the information set forth therein.
 
 
Three Months Ended
 
 
March 31,
 
June 30,
 
September 30,
 
December 31,
 
 
2017
 
2017
 
2017
 
2017
 
 
 
 
 
 
 
 
 
 
 
(in thousands, except per share data)
License and other revenue
 
$

 
$

 
$
25,000

 
$

Product revenue, net
 

 

 

 
1,911

Sales force revenue
 

 

 

 
278

Grant revenue
 
384

 
158

 
38

 
45

Operating expenses:
 
 
 
 
 
 
 
 
Cost of product sales
 

 

 

 
636

Research and development
 
953

 
494

 
965

 
1,961

General and administrative
 
1,330

 
1,439

 
2,152

 
3,021

Sales and marketing
 

 

 

 
973

Change in fair value of warrant liability and unit purchase option liability
 
(4
)
 
2

 

 
(28
)
Interest (expense) income, net
 
(58
)
 
(26
)
 
29

 
31

Net (loss) income after taxes
 
$
(1,961
)
 
$
(1,799
)
 
$
18,721

 
$
(3,091
)
Net (loss) income per share of common stock, basic
 
$
(0.19
)
 
$
(0.14
)
 
$
0.52

 
$
(0.11
)
Net (loss) income per share of common stock, diluted
 
$
(0.19
)
 
$
(0.14
)
 
$
0.52


$
(0.11
)
 
 
 
Three Months Ended
 
 
March 31,
 
June 30,
 
September 30,
 
December 31,
 
 
2016
 
2016
 
2016
 
2016
 
 
 
 
 
 
 
 
 
 
 
(in thousands, except per share data)
Operating expenses:
 
 
 
 
 
 
 
 
Research and development
 
$
2,293

 
$
2,502

 
$
4,582

 
$
773

General and administrative
 
2,649

 
1,636

 
1,703

 
1,095

Change in fair value of warrant liability, unit purchase option liability and investor rights obligation
 
(47
)
 
91

 
(101
)
 
130

Interest income (expense), net
 
(151
)
 
(127
)
 
(104
)
 
(83
)
Net loss
 
$
(5,140
)
 
$
(3,524
)
 
$
(6,169
)
 
$
(1,639
)
Net loss per share of common stock, basic and diluted
 
$
(0.59
)
 
$
(0.41
)
 
$
(0.70
)
 
$
(0.18
)