18. Selected Quarterly Financial Data (Unaudited)

The following tables contain selected quarterly financial information for 2020 and 2019. The Company believes the following information includes all recurring adjustments necessary for a fair statement of such information (in thousands, except share and per share data):


	Three Months Ended
	December 31,		September 30,		June 30,		March 31,
	2020		2020		2020		2020
Statements of Operations Data:
Collaboration revenues	$	3,848	$	3,842	$	1,571	$	1,129
Total operating expenses (1)		20,907		14,517		14,154		12,772
Total other income (expense), net		(429)		72		371		212
Net loss before income tax provision		(17,488)		(10,603)		(12,212)		(11,431)
Benefit from income taxes		(55)		(465)		(97)		(107)
Net loss	$	(17,433)	$	(10,138)	$	(12,115)	$	(11,324)
Net loss per share attributable to ordinary shareholders, basic and diluted	$	(0.83)	$	(0.52)	$	(0.67)	$	(0.63)
Weighted average ordinary shares outstanding, basic and diluted		21,057,855		19,426,833		18,077,770		17,997,929

	Three Months Ended
	December 31,		September 30,		June 30,		March 31,
	2019		2019		2019		2019
Statements of Operations Data:
Collaboration revenues (2),(3)	$	5,281	$	614	$	1,522	$	6,384
Total operating expenses		10,045		10,867		9,510		9,678
Total other income (expense), net		220		440		(2,094)		(3,129)
Net loss before income tax provision		(4,544)		(9,813)		(10,082)		(6,423)
(Benefit from) provision for income taxes		(138)		(331)		135		80
Net loss	$	(4,406)	$	(9,482)	$	(10,217)	$	(6,503)
Net loss per share attributable to ordinary shareholders, basic and diluted	$	(0.25)	$	(0.53)	$	(1.40)	$	(7.80)
Weighted average ordinary shares outstanding, basic and diluted		17,926,165		17,900,978		7,298,139		834,043

(1)

Operating expenses in the fourth quarter of 2020 include $4.7 million of expense related to the settlement and license agreement with Pepscan (Note 13).

(2)

Collaboration revenues in the fourth quarter of 2019 include $4.7 million recognized upon notification that the collaboration with Sanofi was terminated for amounts allocated to a material right when an option expired (Note 11).

(3)

Collaboration revenues in the first quarter of 2019 include $5.3 million recognized upon notification that Sanofi would not exercise the Sickle Cell License Option for amounts allocated to a material right when the option expired (Note 11).