Unaudited Quarterly Results

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Unaudited Quarterly Results

16. Unaudited Quarterly Results

The results of operations on a quarterly basis for the years ended December 31, 2019 and 2018 are set forth below:

	March 31, 2019			June 30, 2019			September 30, 2019			December 31, 2019
	(Amounts in thousands except per share data)
Collaboration revenue	$	10,433		$	11,118		$	10,616		$	10,936
Operating expenses:
Research and development		23,709			25,460			27,513			31,731
General and administrative		10,533			13,118			8,431			8,976
Total operating expenses		34,242			38,578			35,944			40,707
Operating loss		(23,809	)		(27,460	)		(25,328	)		(29,771	)
Interest income		1,869			1,777			1,694			1,495
Net loss	$	(21,940	)	$	(25,683	)	$	(23,634	)	$	(28,276	)
Net loss per share, basic and diluted	$	(0.49	)	$	(0.56	)	$	(0.49	)	$	(0.57	)
Weighted average shares outstanding, basic    and diluted		45,234			45,814			48,554			49,350

	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