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Summarized Quarterly Data (Unaudited)
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Summarized Quarterly Data (Unaudited)
Summarized Quarterly Data (Unaudited)

The following financial information reflects all adjustments, which includes all normal recurring adjustments and the items described in (1) to (4) below, which are, in the opinion of management, necessary for a fair statement of the consolidated financial results of the interim periods. Summarized quarterly data for the years ended December 31, 2015 and 2014 is as follows:
 
2015 Quarter Ended
 
March 31
 
June 30 (1)
 
September 30 (2)
 
December 31(3)
 
(in thousands, except per share amounts)
Revenue
$
4,614

 
$
7,367

 
$
9,120

 
$
6,081

Gross profit
$
691

 
$
1,564

 
$
1,340

 
$
1,231

Net loss from continuing operations
$
(10,165
)
 
$
(6,696
)
 
$
(12,981
)
 
$
(11,862
)
Net income (loss) from discontinued operations
$
(12,696
)
 
$
79,160

 
$
(1,635
)
 
$
3,019

Net income (loss)
$
(22,861
)
 
$
72,464

 
$
(14,616
)
 
$
(8,843
)
Net income (loss) per share, basic and diluted
$
(1.19
)
 
$
3.78

 
$
(0.65
)
 
$
(0.36
)

 
2014 Quarter Ended
 
March 31
 
June 30 (4)
 
September 30
 
December 31
 
(in thousands, except per share amounts)
Revenue
$
7,389

 
$
6,737

 
$
4,883

 
$
9,938

Gross profit
$
4,056

 
$
2,874

 
$
897

 
$
1,515

Net income (loss) from continuing operations
$
(4,952
)
 
$
77,536

 
$
(1,461
)
 
$
(9,636
)
Net loss from discontinued operations
$
(15,980
)
 
$
(14,672
)
 
$
(11,364
)
 
$
(10,884
)
Net income (loss)
$
(20,932
)
 
$
62,864

 
$
(12,825
)
 
$
(20,520
)
Net income (loss) per share, basic
$
(1.20
)
 
$
3.59

 
$
(0.73
)
 
$
(1.09
)
Net income (loss) per share, diluted
$
(1.61
)
 
$
3.59

 
$
(0.73
)
 
$
(1.09
)


(1) Net income from discontinued operations includes a gain on sale of Zohydro ER business of $75,575,000. Net income (loss) from continuing operations includes a tax benefit related to the sale of Zohydro ER of $6,946,000.

(2) Net loss from continuing operations includes an impairment charge on investments acquired in conjunction with the sale of the Zohydro ER business of $5,485,000 and tax benefit related to the sale of the Zohydro ER business of $5,496,000. Net income (loss) from discontinued operations includes a reduction of the gain on sale of Zohydro ER business of $2,474,000 which is comprised primarily of the recognition of additional income tax expense for the period.
 
(3) Net loss from continuing operations includes a tax benefit related to the sale of Zohydro ER of $3,472,000. Net income (loss) from discontinued operations includes an increase of the gain on sale of Zohydro ER business of $2,323,000 which is comprised primarily of the recognition of contingent consideration of $385,000 and derecognition of income tax liability for the period based on reduction in applicable tax rate.

(4) Net income from continuing operations includes the one-time gain on sale of the Sumavel DosePro business of $79,980,000, a one-time charge for extinguishment of debt of $1,254,000 incurred in connection with termination of Healthcare Royalty Financing Agreement, and an impairment charge on long lived assets related to sale of Sumavel DosePro business of $838,000.