Unaudited Quarterly Results |
12. Unaudited Quarterly Results
The results of operations on a quarterly basis for the years ended December 31, 2017 and 2016 are set forth below:
|
|
March 31,
2017 |
|
|
June 30,
2017 |
|
|
September 30,
2017 |
|
|
December 31,
2017 |
|
|
|
(Amounts in thousands except per share data) |
|
Collaboration revenue |
|
$ |
6,215 |
|
|
$ |
5,917 |
|
|
$ |
7,317 |
|
|
$ |
6,668 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development |
|
|
13,431 |
|
|
|
15,565 |
|
|
|
17,481 |
|
|
|
21,170 |
|
General and administrative |
|
|
5,732 |
|
|
|
6,369 |
|
|
|
5,711 |
|
|
|
10,213 |
|
Total operating expenses |
|
|
19,163 |
|
|
|
21,934 |
|
|
|
23,192 |
|
|
|
31,383 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating loss |
|
|
(12,948 |
) |
|
|
(16,017 |
) |
|
|
(15,875 |
) |
|
|
(24,715 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
|
317 |
|
|
|
424 |
|
|
|
519 |
|
|
|
752 |
|
Net loss |
|
$ |
(12,631 |
) |
|
$ |
(15,593 |
) |
|
$ |
(15,356 |
) |
|
$ |
(23,963 |
) |
Net loss per share attributable to common
stockholders, basic and diluted |
|
$ |
(0.36 |
) |
|
$ |
(0.45 |
) |
|
$ |
(0.44 |
) |
|
$ |
(0.61 |
) |
Weighted average shares outstanding, basic
and diluted |
|
|
34,723 |
|
|
|
34,916 |
|
|
|
35,189 |
|
|
|
39,155 |
|
|
|
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 |
|
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 |
|
|