Annual report pursuant to Section 13 and 15(d)

Quarterly Financial Information

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Quarterly Financial Information
12 Months Ended
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information

14. QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

The following table summarizes the unaudited statements of operations for each quarter of 2013 and 2012 (in thousands, except per share amounts):

 

     March 31     June 30     September 30     December 31  

2013

        

Collaboration revenue

   $ 5,076      $ 6,340      $ 9,862      $ 8,604   

Research and development

     10,855        13,263        18,004        13,195   

General and administrative

     2,500        2,473        2,473        2,446   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total expenses

     13,355        15,736        20,477        15,641   

Other income

     1,582        976        561        359   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net loss

     (6,697     (8,420     (10,054     (6,678

Basic and diluted net loss per share

   $ (0.46   $ (0.57   $ (0.68   $ (0.45

2012

        

Collaboration revenue

   $ 1,316      $ 2,429      $ 6,570      $ 9,780   

Research and development

     5,082        6,326        12,895        15,645   

General and administrative

     1,737        2,047        1,965        2,042   

Restructuring gain

                          (1,657
  

 

 

   

 

 

   

 

 

   

 

 

 

Total expenses

     6,819        8,373        14,860        16,030   

Other income (expense)

     (1,357     1,729        2,370        2,147   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net loss

     (6,860     (4,215     (5,920     (4,103

Basic and diluted net loss per share

   $ (0.67   $ (0.29   $ (0.40   $ (0.28