Selected Quarterly Financial Data (Unaudited)

The following table sets forth certain unaudited quarterly financial data for 2017 and 2016. This unaudited information has been prepared on the same basis as the audited information included elsewhere in this Annual Report on Form 10-K and includes all adjustments necessary to present fairly the information set forth therein.



	Three Months Ended
	March 31,			June 30,			September 30,			December 31,
	2017			2017			2017			2017

	(in thousands, except per share data)
License and other revenue	$	—		$	—		$	25,000		$	—
Product revenue, net	—			—			—			1,911
Sales force revenue	—			—			—			278
Grant revenue	384			158			38			45
Operating expenses:
Cost of product sales	—			—			—			636
Research and development	953			494			965			1,961
General and administrative	1,330			1,439			2,152			3,021
Sales and marketing	—			—			—			973
Change in fair value of warrant liability and unit purchase option liability	(4		)	2			—			(28		)
Interest (expense) income, net	(58		)	(26		)	29			31
Net (loss) income after taxes	$	(1,961	)	$	(1,799	)	$	18,721		$	(3,091	)
Net (loss) income per share of common stock, basic	$	(0.19	)	$	(0.14	)	$	0.52		$	(0.11	)
Net (loss) income per share of common stock, diluted	$	(0.19	)	$	(0.14	)	$	0.52	—	$	(0.11	)



	Three Months Ended
	March 31,			June 30,			September 30,			December 31,
	2016			2016			2016			2016

	(in thousands, except per share data)
Operating expenses:
Research and development	$	2,293		$	2,502		$	4,582		$	773
General and administrative	2,649			1,636			1,703			1,095
Change in fair value of warrant liability, unit purchase option liability and investor rights obligation	(47		)	91			(101		)	130
Interest income (expense), net	(151		)	(127		)	(104		)	(83		)
Net loss	$	(5,140	)	$	(3,524	)	$	(6,169	)	$	(1,639	)
Net loss per share of common stock, basic and diluted	$	(0.59	)	$	(0.41	)	$	(0.70	)	$	(0.18	)