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Unaudited Quarterly Results
12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
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