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SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Tables)
 12 Months Ended
Dec. 31, 2014
SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)  
Schedule of selected quarterly financial information (unaudited)

 

 

 

First
Quarter

 

Second
Quarter

 

Third
Quarter

 

Fourth
Quarter

 

 

 

(In thousands, except per share amounts)

 

Year Ended December 31, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$
474

 

$
341

 

$
160

 

$
178

 

Operating expenses

 

 
9,205

 

 
9,004

 

 
10,067

 

 
9,189

 

Net loss

 

 
(8,440

)

 
(8,734

)

 
(9,549

)

 
(8,947

)

Basic and diluted net loss per share

 

$
(0.06

)

$
(0.06

)

$
(0.06

)

$
(0.06

)

Year Ended December 31, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$
765

 

$
112

 

$
181

 

$
225

 

Operating expenses(1)

 

 
12,750

 

 
9,077

 

 
8,914

 

 
9,500

 

Net loss

 

 
(11,897

)

 
(8,947

)

 
(8,254

)

 
(9,281

)

Basic and diluted net loss per share

 

$
(0.09

)

$
(0.07

)

$
(0.06

)

$
(0.07

)

(1)

The fourth quarter of 2013 includes approximately $430,000 in restructuring charges in connection with the closure our research laboratory facility located at 200 Constitution Drive, Menlo Park, California. See Note 6 on Restructurings.