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Note 11 - Summary of Quarterly Consolidated Financial Data (Unaudited) | 12 Months Ended
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Dec. 31, 2017
Notes to Financial Statements |
Quarterly Financial Information [Text Block] |
1 1 . | Summary of Quarterly Consolidated Financial Data (Unaudited)
The following is a summary of the unaudited quarterly results of operations for the years ended December 31, 2017 and 2016:
|  | 2017 |
|  | First Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Fourth Quarter |
|  | (In thousands, except per share amounts) |
Revenue s: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net product sales |  | $ | 3,632 |  |  | $ | 8,510 |  |  | $ | 8,572 |  |  | $ | 10,053 |
Cost of product sales |  |  | (1,186 | ) |  |  | (1,013 | ) |  |  | (1,051 | ) |  |  | (1,338 | )
Gross Profit |  |  | 2,446 |  |  |  | 7,497 |  |  |  | 7,521 |  |  |  | 8,715 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Research and development |  |  | 33,384 |  |  |  | 28,597 |  |  |  | 28,844 |  |  |  | 47,757 |
General and administrative |  |  | 6,742 |  |  |  | 6,185 |  |  |  | 6,462 |  |  |  | 6,165 |
Sales and marketing |  |  | 11,619 |  |  |  | 14,770 |  |  |  | 13,529 |  |  |  | 16,683 |
Loss from operations |  |  | (49,299 | ) |  |  | (42,055 | ) |  |  | (41,314 | ) |  |  | (61,890 | )
Other expense, net |  |  | (1,030 | ) |  |  | (744 | ) |  |  | (552 | ) |  |  | (600 | )
Net loss |  | $ | (50,329 | ) |  | $ | (42,799 | ) |  | $ | (41,866 | ) |  | $ | (62,490 | )
Basic and diluted net loss per share |  | $ | (1.00 | ) |  | $ | (0.80 | ) |  | $ | (0.77 | ) |  | $ | (1.09 | )
|  | 2016 |
|  | First Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Fourth Quarter |
|  | (In thousands, except per share amounts) |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net product sales |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,279 |
Cost of product sales |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (35 | )
Gross Profit |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,244 |
Operating e xpenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Research and development |  |  | 16,092 |  |  |  | 27,286 |  |  |  | 30,242 |  |  |  | 29,505 |
General and administrative |  |  | 5,367 |  |  |  | 4,774 |  |  |  | 5,333 |  |  |  | 5,892 |
Sales and marketing |  |  | 11,853 |  |  |  | 11,006 |  |  |  | 12,159 |  |  |  | 12,650 |
Loss from operations |  |  | (33,312 | ) |  |  | (43,066 | ) |  |  | (47,734 | ) |  |  | (46,803 | )
Other expense, net |  |  | (133 | ) |  |  | (160 | ) |  |  | (775 | ) |  |  | (1,160 | )
Net loss |  | $ | (33,445 | ) |  | $ | (43,226 | ) |  | $ | (48,509 | ) |  | $ | (47,963 | )
Basic and diluted net loss per share |  | $ | (0.92 | ) |  | $ | (1.17 | ) |  | $ | (1.24 | ) |  | $ | (1.22 | )

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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