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Unaudited Quarterly Results (Tables)
12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Results of Operations on Quarterly Basis

The results of operations on a quarterly basis for the years ended December 31, 2018 and 2017 are set forth below:

 

 

 

March 31,

2018

 

 

June 30,

2018

 

 

September 30,

2018

 

 

December 31,

2018

 

 

 

(Amounts in thousands except per share data)

 

Collaboration revenue

 

$

7,469

 

 

$

7,677

 

 

$

7,408

 

 

$

7,880

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

 

22,493

 

 

 

23,467

 

 

 

23,237

 

 

 

19,918

 

General and administrative

 

 

7,406

 

 

 

7,805

 

 

 

8,270

 

 

 

8,708

 

Total operating expenses

 

 

29,899

 

 

 

31,272

 

 

 

31,507

 

 

 

28,626

 

Operating loss

 

 

(22,430

)

 

 

(23,595

)

 

 

(24,099

)

 

 

(20,746

)

Interest income

 

 

1,074

 

 

 

1,376

 

 

 

1,397

 

 

 

1,680

 

Net loss

 

$

(21,356

)

 

$

(22,219

)

 

$

(22,702

)

 

$

(19,066

)

Net loss per share, basic and diluted

 

$

(0.51

)

 

$

(0.52

)

 

$

(0.53

)

 

$

(0.43

)

Weighted average shares outstanding, basic

   and diluted

 

 

42,043

 

 

 

42,836

 

 

 

43,161

 

 

 

44,215

 

 

 

 

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, 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