| Summary of the Quarterly Results of Operations |
The following is a summary of the quarterly results of operations of the Company for years ended December 31, 2017 and 2016: | | | | | | | | | | | | | | | | | | Quarter Ended(1) | | March 31 | | June 30 | | September 30 | | December 31 | | (dollars in thousands, except per share data) | 2017 | |
| | |
| | |
| | |
| Revenues | $ | 95 |
| | $ | 102 |
| | $ | 123 |
| | $ | 185 |
| Operating expenses | $ | 10,221 |
| | $ | 5,990 |
| | $ | 5,921 |
| | $ | 3,969 |
| | | | | | | | | Net loss attributable to common stockholders | $ | (10,005 | ) | | $ | (8,052 | ) | | $ | (4,298 | ) | | $ | (2,576 | ) | Net loss per common share - basic | $ | 0.32 |
| | $ | (0.26 | ) | | $ | (0.12 | ) | | $ | (0.06 | ) | Net loss per common share - diluted | $ | (0.32 | ) | | $ | (0.26 | ) | | $ | (0.12 | ) | | $ | (0.06 | ) | | | | | | | | | Shares used in the calculation of net loss attributable to common stockholders - basic | 30,961,014 |
| | 30,991,740 |
| | 36,465,672 |
| | 40,182,071 |
| Shares used in the calculation of net loss attributable to common stockholders - diluted | 30,961,014 |
| | 30,991,740 |
| | 36,465,672 |
| | 40,182,071 |
| | | | | | | | |
| | | | | | | | | | | | | | | | | 2016 | |
| | |
| | |
| | |
| Revenues | $ | 120 |
| | $ | 104 |
| | $ | 89 |
| | $ | 68 |
| Operating expenses | $ | 10,579 |
| | $ | 10,084 |
| | $ | 10,013 |
| | $ | 9,850 |
| | | | | | | | | Net loss attributable to common stockholders | $ | (10,269 | ) | | $ | (10,208 | ) | | $ | (10,197 | ) | | $ | (8,554 | ) | Net loss per common share - basic | $ | (0.35 | ) | | $ | (0.34 | ) | | $ | (0.34 | ) | | $ | (0.28 | ) | Net loss per common share - diluted | $ | (0.36 | ) | | $ | (0.34 | ) | | $ | (0.34 | ) | | $ | (0.34 | ) | | | | | | | | | Shares used in the calculation of net loss attributable to common stockholders - basic | 29,755,184 |
| | 29,958,037 |
| | 30,339,774 |
| | 30,639,440 |
| Shares used in the calculation of net loss attributable to common stockholders - diluted | 30,108,377 |
| | 29,958,037 |
| | 30,339,774 |
| | 30,711,946 |
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(1) Basic and diluted net loss per common share are computed independently for each of the periods presented. Accordingly, the sum of the quarterly net loss per common share amount may not agree to the total for the year.
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