| Quarterly Financial Information |
14. QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
The following table summarizes the unaudited statements of
operations for each quarter of 2016 and 2015 (in thousands, except
per share amounts):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
March 31 |
|
|
June 30 |
|
|
September 30 |
|
|
December 31 |
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Collaboration revenue
|
|
$ |
2,940 |
|
|
$ |
2,122 |
|
|
$ |
— |
|
|
$ |
— |
|
|
Research and development
|
|
|
4,642 |
|
|
|
4,662 |
|
|
|
3,782 |
|
|
|
1,702 |
|
|
General and administrative
|
|
|
2,299 |
|
|
|
2,475 |
|
|
|
1,864 |
|
|
|
2,295 |
|
|
Restructuring costs (recovery)
|
|
|
431 |
|
|
|
(8 |
) |
|
|
(31 |
) |
|
|
1,814 |
|
|
Recovery of lease termination loss
|
|
|
— |
|
|
|
— |
|
|
|
(1,250 |
) |
|
|
— |
|
|
Litigation settlement
|
|
|
— |
|
|
|
1,375 |
|
|
|
— |
|
|
|
— |
|
|
Asset impairment charge
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
202 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total expenses
|
|
|
7,372 |
|
|
|
8,504 |
|
|
|
4,365 |
|
|
|
6,013 |
|
|
Other income
|
|
|
725 |
|
|
|
(507 |
) |
|
|
675 |
|
|
|
170 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
|
(3,707 |
) |
|
|
(6,889 |
) |
|
|
(3,690 |
) |
|
|
(5,843 |
) |
|
Basic and diluted net loss per share
|
|
$ |
(0.12 |
) |
|
$ |
(0.23 |
) |
|
$ |
(0.12 |
) |
|
$ |
(0.19 |
) |
|
2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Collaboration revenue
|
|
$ |
1,374 |
|
|
$ |
4,025 |
|
|
$ |
6,737 |
|
|
$ |
6,024 |
|
|
Research and development
|
|
|
3,673 |
|
|
|
6,545 |
|
|
|
8,303 |
|
|
|
6,587 |
|
|
General and administrative
|
|
|
2,698 |
|
|
|
3,067 |
|
|
|
3,125 |
|
|
|
2,915 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total expenses
|
|
|
6,371 |
|
|
|
9,612 |
|
|
|
11,428 |
|
|
|
9,502 |
|
|
Other income
|
|
|
480 |
|
|
|
(423 |
) |
|
|
141 |
|
|
|
1,756 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
|
(4,517 |
) |
|
|
(6,010 |
) |
|
|
(4,550 |
) |
|
|
(1,722 |
) |
|
Basic and diluted net loss per share
|
|
$ |
0.20 |
|
|
$ |
0.26 |
|
|
$ |
0.16 |
|
|
$ |
0.06 |
|
|