Note 15 - Quarterly Financial Information (unaudited)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information [Text Block]

15. Quarterly Financial Information (unaudited, in thousands, except share and per share data)

The Company uses the two-class method to calculate net income (loss) per share.  During the fourth quarter of the year ended December 31, 2014, the Company recorded net income, although for the full year the Company recorded a net loss.  For purposes of calculating basic net income per share for the fourth quarter of 2014, the Company excluded from the numerator $1.3 million of net income attributable to participating securities.  The Company calculated diluted net income per share under both the if-converted method and the two-class method noting a greater dilutive effect under the two-class method. For the purposes of calculating diluted net income per share under the two-class method for the fourth quarter, the Company excluded from the numerator $1.3 million of net income attributable to participating securities and did not assume the conversion of Preferred Stock in the denominator on an as if-converted basis.  Shares of Common Stock issuable upon exercise of outstanding stock options and warrants were included in the denominator on an as-if converted basis.

	Three Months Ended
	March 31, 2014			June 30, 2014			September 30, 2014				December 31, 2014
Revenue	$	-		$	-		$	2,948			$	-
Operating expenses		1,933			2,508			2,814				3,273
Net (loss) income		(2,831	)		(2,563	)		(5,181	)			7,233
Net (loss) income attributable to common stockholders - basic		(4,343	)		(4,460	)		(7,458	)			5,938
Net (loss) income attributable to common stockholders - diluted		(4,343	)		(4,460	)		(7,458	)			5,938
Net (loss) income per share attributable to common stockholders:
Basic	$	(18.09	)	$	(18.55	)	$	(31.00	)	(a)	$	0.52
Diluted	$	(18.09	)	$	(18.55	)	$	(31.00	)	(a)	$	0.48
Weighted-average common shares outstanding used in net (loss) income per share attributable to common stockholders:
Basic		240,138			240,374			240,610		(a)		11,444,807	(b)
Diluted		240,138			240,374			240,610		(a)		12,295,431	(b)

	Three Months Ended
	March 31, 2013			June 30, 2013			September 30, 2013				December 31, 2013
Revenue	$	-		$	-		$	-			$	-
Operating expenses		1,871			1,549			1,914				1,788
Net loss		(1,865	)		(1,547	)		(2,103	)			(2,397	)
Net loss attributable to common stockholders - basic		(3,377	)		(3,074	)		(3,643	)			(3,937	)
Net loss attributable to common stockholders - diluted		(3,377	)		(3,074	)		(3,643	)			(3,937	)
Net loss per share attributable to common stockholders
Basic	$	(14.64	)	$	(13.33	)	$	(15.21	)	(a)	$	(16.41	)
Diluted	$	(14.64	)	$	(13.33	)	$	(15.21	)	(a)	$	(16.41	)
Weighted-average common shares outstanding used in net loss per share attributable to common stockholders:
Basic		230,607			230,607			239,472		(a)		239,902
Diluted		230,607			230,607			239,472		(a)		239,902

(a) Adjusted to correct an immaterial error in the weighted-average share calculation in the Company's Form 10-Q as of September 30, 2014 and 2013.

(b) In October 2014, the Company completed its initial public offering of common stock which resulted in net proceeds of approximately $62.5 million from the issuance of 7,026,500 shares of common stock, which includes the sale of 916,500 shares under the underwriter's over allotment option. Immediately prior to the closing of the Company’s IPO, 498,889 shares of Common Stock were issued upon the exercise of warrants with aggregate proceeds of $1.4 million. In connection with the public offering, all of the Company's outstanding redeemable convertible preferred stock was converted to 8,651,805 shares of common stock.