Summary of (Unaudited) Quarterly Financial Information

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Summary of (Unaudited) Quarterly Financial Information

13. Summary of (Unaudited) Quarterly Financial Information

The following is a summary of the Company’s (unaudited) quarterly results of operations for the years ended December 31 (in thousands, except per share amounts):

2014:	March 31,			June 30,			Sept. 30,			Dec. 31,
Total revenues	$	2,447		$	4,505		$	3,442		$	4,823
Total operating expenses		5,930			8,570			7,838			9,505
Net loss		(3,455	)		(4,040	)		(4,364	)		(4,633	)
Basic and diluted net loss per share(1)		(0.04	)		(0.05	)		(0.05	)		(0.05	)
2013:	March 31,			June 30,			Sept. 30,			Dec. 31,
Total revenues	$	1,574		$	1,456		$	1,543		$	3,145
Total operating expenses		10,881			11,299			11,523			5,367
Net income (loss)		(9,282	)		(9,881	)		(9,883	)		(2,192	)
Basic and diluted net loss per share(1)		(0.11	)		(0.11	)		(0.11	)		(0.03	)

⁽¹⁾ Net income (loss) per share is computed independently for each quarter and the full year based upon respective shares outstanding. Therefore, the sum of the quarterly loss per share amounts may not equal the annual amounts reported.