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SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Tables)
 12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Schedule of selected quarterly financial information (unaudited)

 

 

First

 

 

Second

 

 

Third

 

 

Fourth

 

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

 

(In thousands, except per share amounts)

 

Year Ended December 31, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

537

 

 

$

174

 

 

$

163

 

 

$

191

 

Operating expenses

 

 

8,031

 

 

 

6,905

 

 

 

7,407

 

 

 

7,977

 

Net loss

 

 

(7,183

)

 

 

(6,405

)

 

 

(6,899

)

 

 

(7,429

)

Basic and diluted net loss per share

 

$

(0.05

)

 

$

(0.04

)

 

$

(0.04

)

 

$

(0.05

)

Year Ended December 31, 2016:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues(1)

 

$

749

 

 

$

211

 

 

$

5,108

 

 

$

94

 

Operating expenses

 

 

9,826

 

 

 

9,122

 

 

 

8,985

 

 

 

8,875

 

Net loss

 

 

(8,842

)

 

 

(8,637

)

 

 

(3,576

)

 

 

(8,482

)

Basic and diluted net loss per share

 

$

(0.06

)

 

$

(0.05

)

 

$

(0.02

)

 

$

(0.05

)

 

(1)

The third quarter of 2016 includes the full recognition of the $5,000,000 upfront payment from Janssen Pharmaceuticals as license fee revenue. See Note 4 on License Agreements.