Unaudited Quarterly Results

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Unaudited Quarterly Results

11.         Unaudited Quarterly Results

The results of operations on a quarterly basis for the years ended December 31, 2016 and 2015 are set forth below:

	Quarter Ended
	March 31, 2016		June 30, 2016		September 30, 2016		December 31, 2016
	(Amounts in thousands except per share data)
Collaboration revenue	$	1,777	$	4,206	$	4,869	$	5,627
Operating expenses:
Research and development		5,225		7,423		7,861		11,331
General and administrative		3,246		3,729		4,705		5,118
Total operating expenses		8,471		11,152		12,566		16,449
Operating loss		(6,694)		(6,946)		(7,697)		(10,822)
Interest income		5		46		215		259
Loss before income taxes		(6,689)		(6,900)		(7,482)		(10,563)
Income tax benefit		-		-		-		-
Net loss	$	(6,689)	$	(6,900)	$	(7,482)	$	(10,563)
Net loss per share attributable to common stockholders, basic and diluted	$	(9.89)	$	(0.36)	$	(0.22)	$	(0.31)
Weighted average shares outstanding, basic and diluted		676		19,121		34,316		34,507
	Quarter Ended
	March 31, 2015		June 30, 2015		September 30, 2015		December 31, 2015
	(Amounts in thousands except per share data)
Collaboration revenue	$	1,286	$	1,377	$	1,688	$	1,693
Operating expenses:
Research and development		1,371		1,966		3,458		4,375
General and administrative		1,110		2,833		1,531		2,809
Total operating expenses		2,481		4,799		4,989		7,184
Operating loss		(1,195)		(3,422)		(3,301)		(5,491)
Interest income		-		-		-		-
Loss before income taxes		(1,195)		(3,422)		(3,301)		(5,491)
Income tax benefit		102		382		282		246
Net loss	$	(1,093)	$	(3,040)	$	(3,019)	$	(5,245)
Net loss per share or common unit, basic and diluted	$	(0.85)	$	(2.37)	$	(10.27)	$	(9.57)
Weighted average shares or common units outstanding, basic and diluted		1,284		1,284		294		548