| Selected Quarterly Financial Data (Unaudited) |
15. Selected Quarterly Financial Data (Unaudited)
The following table contains quarterly financial information for 2018 and 2017. The information has been derived from unaudited consolidated financial statements that, in the opinion of management, include all recurring adjustments necessary for a fair statement of such information (in thousands, except per share data):
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Three Months Ended
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March 31,
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June 30,
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September 30,
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December 31,
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2018(1)
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2018(1)
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2018
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2018
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Consolidated Statements of Operations Data:
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Revenue
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$
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—
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$
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—
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$
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—
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$
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—
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Total operating expenses
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14,603
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20,384
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27,554
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29,122
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Loss from operations
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(14,603)
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(20,384)
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(27,554)
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(29,122)
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Net loss attributable to common stockholders
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(14,411)
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(21,239)
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(26,362)
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(27,183)
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Net loss per share attributable to common stockholders, basic and diluted
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$
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(1.72)
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$
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(2.43)
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$
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(0.42)
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$
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(0.35)
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Three Months Ended
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March 31,
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June 30,
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September 30,
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December 31,
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2017
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2017
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2017
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2017
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Consolidated Statements of Operations Data:
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Revenue
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$
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—
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$
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—
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$
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—
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$
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—
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Total operating expenses
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4,783
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9,033
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11,975
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17,473
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Loss from operations
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(4,783)
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(9,033)
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(11,975)
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(17,473)
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Net loss attributable to common stockholders
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(5,233)
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(9,834)
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(11,919)
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(17,517)
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Net loss per share attributable to common stockholders, basic and diluted
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$
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(0.68)
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$
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(1.25)
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$
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(1.48)
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$
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(2.07)
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During the three months ended September 30, 2018, the Company adopted ASU 2018-07 (see Note 2) effective January 1, 2018. The Company has revised the results for the three months ended March 31, 2018 and the three months ended June 30, 2018 to reflect the adoption of ASU 2018-07.
The following tables summarize the impact of adoption to the Company’s previously issued consolidated statements of operations and comprehensive loss (in thousands):
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Three Months Ended
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Three Months Ended
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March 31, 2018
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June 30, 2018
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As previously
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As previously
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reported
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As revised
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reported
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As revised
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Operating expenses:
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Research and development
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$
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9,650
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$
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9,506
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$
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11,965
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$
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11,361
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General and administrative
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5,797
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5,097
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16,279
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9,023
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Total operating expenses
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15,447
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14,603
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28,244
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20,384
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Loss from operations
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(15,447)
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(14,603)
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(28,244)
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(20,384)
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Net loss attributable to common stockholders
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$
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(15,255)
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$
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(14,411)
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$
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(29,099)
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$
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(21,239)
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Net loss per share attributable to common stockholders, basic and diluted
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$
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(1.83)
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$
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(1.72)
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$
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(3.33)
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$
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(2.43)
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