Quarterly Summarized Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2013

Quarterly Summarized Financial Information (Unaudited)

(16) Quarterly Summarized Financial Information (Unaudited)

Immaterial Restatement

The Company’s operating results reflected net losses for each fiscal quarter during the years ended December 31, 2013 and 2012. During certain of these quarters, net loss included gains recorded on changes in the fair value of the warrant derivative liability (See Note 2). The diluted earnings per share amounts for certain quarterly periods have been restated to reflect the increase in loss per share which occurs if such gains recorded on changes in the fair value of the warrant derivative liability are excluded from the calculation of net loss. The diluted weighted average share amounts for such quarterly periods have also been adjusted to reflect the incremental outstanding shares utilizing the treasury stock method assuming the warrants associated with the derivative liability had been exercised. For the year ended December 31, 2012, changes in the fair value of the warrant derivative liability resulted in a net loss and as a result, there was no impact of the quarterly restatements to diluted net loss per share on our consolidated financial statements for that period.


	Fiscal year ended December 31, 2013
	1st Quarter						2nd Quarter						3rd Quarter						4th Quarter
	As Reported			As Restated			As Reported			As Restated			As Reported			As Restated

	(In thousands, except per share amounts)
Revenue	$	2,342		$	2,342		$	5,500		$	5,500		$	8,403		$	8,403		$	10,106
Net loss		(62,158	)		(62,158	)		(39,774	)		(39,774	)		(48,884	)		(48,884	)		(15,411	)
Net loss per share :
Basic	$	(0.41	)	$	(0.41	)	$	(0.26	)	$	(0.26	)	$	(0.29	)	$	(0.29	)	$	(0.09	)
Diluted	$	(0.41	)	$	(0.43	)	$	(0.26	)	$	(0.34	)	$	(0.29	)	$	(0.29	)	$	(0.27	)


	Fiscal year ended December 31, 2012
	1st Quarter						2nd Quarter						3rd Quarter						4th Quarter
	As Reported			As Restated			As Reported			As Restated			As Reported			As Restated			As Reported			As Restated
	(In thousands, except per share amounts)

Revenue	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Net loss		(88,285	)		(88,285	)		(53,904	)		(53,904	)		(26,426	)		(26,426	)		(10,569	)		(10,569	)
Net loss per share :
Basic	$	(0.65	)	$	(0.65	)	$	(0.38	)	$	(0.38	)	$	(0.18	)	$	(0.18	)	$	(0.07	)	$	(0.07	)
Diluted	$	(0.65	)	$	(0.65	)	$	(0.38	)	$	(0.38	)	$	(0.18	)	$	(0.28	)	$	(0.07	)	$	(0.30	)

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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