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Summarized Quarterly Data (Unaudited)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Summarized Quarterly Data (Unaudited)
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 2016 and 2015 is as follows:

 
 
 
 
 
 
 
 
 
2016 Quarter Ended
 
March 31
 
June 30
 
September 30
 
December 31(4)
 
(in thousands, except per share amounts)
Revenue
$
9,206

 
$
2,088

 
$
6,570

 
$
10,986

Gross profit
$
1,402

 
$
27

 
$
179

 
$
5,069

Loss from continuing operations
$
(10,220
)
 
$
(18,246
)
 
$
(16,618
)
 
$
(23,602
)
Loss (income) from discontinued operations
$
(169
)
 
$
(582
)
 
$
(379
)
 
$
109

Net loss
$
(10,389
)
 
$
(18,828
)
 
$
(16,997
)
 
$
(23,493
)
Net loss per share, basic and diluted
$
(0.42
)
 
$
(0.76
)
 
$
(0.69
)
 
$
(0.95
)

 
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

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

 
$
(1,635
)
 
$
3,019

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

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

 
$
(0.65
)
 
$
(0.36
)


(1)
Net income from discontinued operations included an after-tax gain on sale of the Zohydro ER business of $75.6 million. Net loss from continuing operations included a tax benefit of $6.9 million for this divestiture.
(2)
Net loss from continuing operations included an impairment charge for investments acquired in connection with the sale of the Zohydro ER business of $5.5 million, offset by a $5.5 million tax benefit for this divestiture. Net loss from discontinued operations included an adjustment of $2.5 million to the gain on sale of the Zohydro ER business for incremental income tax expense.
(3)
Net loss from continuing operations included a tax benefit related to the sale of Zohydro ER of $3.5 million. Net income from discontinued operations included an adjustment to increase the gain on sale of Zohydro ER business of $2.3 million, which primarily consisted of derecognition of income tax liability due to a reduction in the applicable tax rate, offset by an accrual of $0.4 million related to contingent consideration.
(4)
Net loss from continuing operations included impairment charges of $8.4 million for long-lived assets associated with the production of Sumavel DosePro and prepaid royalties (See Note 6).