| Schedule of Quarterly Financial Data |
The following table summarizes the unaudited quarterly financial data for the last two fiscal years:
|
CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except share data and per share data) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2015 |
|
|
|
|
First Quarter |
|
|
Second Quarter |
|
|
Third Quarter |
|
|
Fourth Quarter |
|
|
Revenue |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development |
|
|
5,021 |
|
|
|
6,678 |
|
|
|
7,092 |
|
|
|
7,157 |
|
|
General and administrative |
|
|
2,681 |
|
|
|
2,717 |
|
|
|
2,954 |
|
|
|
2,872 |
|
|
Total operating expenses |
|
|
7,702 |
|
|
|
9,395 |
|
|
|
10,046 |
|
|
|
10,029 |
|
|
Other income (expense): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
|
3 |
|
|
|
1 |
|
|
|
4 |
|
|
|
2 |
|
|
Interest expense |
|
|
(721 |
) |
|
|
(513 |
) |
|
|
(509 |
) |
|
|
(689 |
) |
|
Total other income (expense) — net |
|
|
(718 |
) |
|
|
(512 |
) |
|
|
(505 |
) |
|
|
(687 |
) |
|
Net loss attributable to common stockholders |
|
$ |
(8,420 |
) |
|
$ |
(9,907 |
) |
|
$ |
(10,551 |
) |
|
$ |
(10,716 |
) |
|
Net loss per share attributable to common stockholders: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted |
|
$ |
(0.41 |
) |
|
$ |
(0.37 |
) |
|
$ |
(0.39 |
) |
|
$ |
(0.39 |
) |
|
Weighted-average common shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted |
|
|
20,350,557 |
|
|
|
26,690,673 |
|
|
|
27,307,103 |
|
|
|
27,346,780 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2014 |
|
|
|
|
First Quarter |
|
|
Second Quarter |
|
|
Third Quarter |
|
|
Fourth Quarter |
|
|
Revenue |
|
$ |
47 |
|
|
$ |
33 |
|
|
$ |
— |
|
|
$ |
— |
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development |
|
|
1,495 |
|
|
|
2,648 |
|
|
|
2,928 |
|
|
|
4,701 |
|
|
General and administrative |
|
|
1,510 |
|
|
|
2,029 |
|
|
|
2,441 |
|
|
|
2,607 |
|
|
Total operating expenses |
|
|
3,005 |
|
|
|
4,677 |
|
|
|
5,369 |
|
|
|
7,308 |
|
|
Other income (expense): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
|
1 |
|
|
|
2 |
|
|
|
2 |
|
|
|
4 |
|
|
Interest expense |
|
|
(461 |
) |
|
|
(268 |
) |
|
|
(191 |
) |
|
|
(163 |
) |
|
Loss on extinguishment of debt |
|
|
— |
|
|
|
(2,493 |
) |
|
|
— |
|
|
|
— |
|
|
Decrease in value of preferred stock warrant liability |
|
|
504 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Total other income (expense) — net |
|
|
44 |
|
|
|
(2,759 |
) |
|
|
(189 |
) |
|
|
(159 |
) |
|
Net loss attributable to common stockholders |
|
$ |
(2,914 |
) |
|
$ |
(7,403 |
) |
|
$ |
(5,558 |
) |
|
$ |
(7,467 |
) |
|
Net loss per share attributable to common stockholders: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted |
|
$ |
(3.70 |
) |
|
$ |
(0.44 |
) |
|
$ |
(0.28 |
) |
|
$ |
(0.37 |
) |
|
Weighted-average common shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted |
|
|
786,986 |
|
|
|
16,883,716 |
|
|
|
20,124,574 |
|
|
|
20,125,009 |
|
|