| UNAUDITED QUARTERLY OPERATING RESULTS |
16. UNAUDITED QUARTERLY OPERATING RESULTS
The following is a summary of unaudited quarterly results of operations for the years ended December 31, 2016 and 2015:
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First
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Second
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Third
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Fourth
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Year ended December 31, 2016
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Quarter
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Quarter
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Quarter
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Quarter
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Product revenues, net
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$
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-
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$
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-
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$
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408
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$
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1,303
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Costs and expenses
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Cost of product revenues
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-
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-
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29
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184
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Research and development
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4,062
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4,301
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3,254
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3,331
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Selling, general and administrative
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11,525
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20,173
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23,567
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25,367
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Total costs and expenses
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15,587
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24,474
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26,850
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28,882
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Loss from operations
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$
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(15,587)
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$
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(24,474)
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$
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(26,442)
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$
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(27,579)
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Other (expense) income, net
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(66)
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(46)
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(2)
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20
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Net loss
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$
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(15,653)
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$
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(24,520)
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$
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(26,444)
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$
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(27,559)
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Weighted-average shares - basic and diluted
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23,130,153
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23,417,378
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23,460,340
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27,100,231
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Loss per share - basic and diluted
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$
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(0.68)
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$
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(1.05)
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$
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(1.13)
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$
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(1.02)
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First
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Second
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Third
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Fourth
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Year ended December 31, 2015
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Quarter
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Quarter
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Quarter
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Quarter
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Costs and expenses
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Research and development
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$
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1,445
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$
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1,641
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$
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3,358
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$
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1,531
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Selling, general and administrative
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2,186
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2,934
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5,907
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7,905
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Total costs and expenses
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3,631
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4,575
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9,265
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9,436
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Loss from operations
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$
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(3,631)
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$
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(4,575)
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$
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(9,265)
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$
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(9,436)
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Other expense, net
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(63)
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(99)
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(97)
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(89)
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Net loss
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$
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(3,694)
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$
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(4,674)
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$
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(9,362)
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$
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(9,525)
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Shares used in computing net loss per share-basic
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1,001,704
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11,791,546
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20,531,406
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20,558,205
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Shares used in computing net loss per share-diluted
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7,554,524
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11,791,546
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20,531,406
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20,558,205
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Net income (loss) per share-basic
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$
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0.34
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$
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(0.45)
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$
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(0.46)
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$
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(0.46)
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Net loss per share-diluted
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$
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(0.65)
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$
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(0.45)
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$
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(0.46)
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$
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(0.46)
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