Schedule of quarterly financial information |
The following is a summary of our unaudited quarterly results for the years ended December 31, 2013 and 2012: | | | | | | | | | | | | | | | | | | | | Quarter Ended | 2013 (Unaudited): | | March 31, | | June 30, | | September 30, | | December 31, | Total revenues | | $ | 11,833,540 |
| | $ | 14,453,810 |
| | $ | 16,013,164 |
| | $ | 12,498,933 |
| Gross profit on product sales(1) | | $ | 769,623 |
| | $ | 1,815,903 |
| | $ | 9,342,187 |
| | $ | 6,266,250 |
| Total operating expenses | | $ | 30,329,313 |
| | $ | 36,574,458 |
| | $ | 34,507,020 |
| | $ | 33,822,293 |
| Net loss | | $ | (19,288,369 | ) | | $ | (22,911,511 | ) | | $ | (19,292,368 | ) | | $ | (21,986,303 | ) | Net loss per share, basic and diluted | | $ | (0.17 | ) | | $ | (0.20 | ) | | $ | (0.17 | ) | | $ | (0.19 | ) | Shares used in computing basic and diluted net loss per share | | 112,416,792 |
| | 112,486,211 |
| | 112,765,155 |
| | 113,550,229 |
| | | | | | | | | | | | Quarter Ended | 2012 (Unaudited): | | March 31, | | June 30, | | September 30, | | December 31, | Total revenues(2) | | $ | 7,440,179 |
| | $ | 7,757,175 |
| | $ | 5,334,323 |
| | $ | 21,793,549 |
| Gross profit on product sales | | $ | 116,650 |
| | $ | 381,822 |
| | $ | 488,719 |
| | $ | 805,851 |
| Total operating expenses | | $ | 22,580,577 |
| | $ | 21,805,273 |
| | $ | 25,364,160 |
| | $ | 26,200,662 |
| Net loss | | $ | (15,119,181 | ) | | $ | (14,021,119 | ) | | $ | (20,005,846 | ) | | $ | (4,405,856 | ) | Net loss per share, basic and diluted | | $ | (0.14 | ) | | $ | (0.13 | ) | | $ | (0.18 | ) | | $ | (0.04 | ) | Shares used in computing basic and diluted net loss per share | | 107,589,514 |
| | 112,063,665 |
| | 112,305,002 |
| | 112,323,056 |
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| | (1) | Gross profit on product sales for the quarters ended June 30, 2013, September 30, 2013 and December 31, 2013 excluded manufacturing costs related to the product sales of bulk rHuPH20 for Herceptin SC and HyQvia in the amounts of $873,000, $6.5 million and $2.6 million, respectively. Such costs were incurred prior to European marketing approvals for Herceptin SC and HyQvia, and therefore, they were charged to research and development expenses in the periods the costs were incurred. |
| | (2) | Revenues for the quarter ended December 31, 2012 included $9.5 million in revenues under collaborative agreements from the Pfizer Collaboration. |
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