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Quarterly Information (unaudited) (Tables)
12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Unaudited Quarterly Financial Information

The following unaudited quarterly financial information includes, in management’s opinion, all the normal and recurring adjustments necessary to fairly state the results of operations and related information for the periods presented (in thousands):

 

 

 

For the three months ended

 

 

 

March 31,

2017

 

 

June 30,

2017

 

 

September 30,

2017

 

 

December 31,

2017

 

Product revenues

 

$

591

 

 

$

969

 

 

$

467

 

 

$

662

 

Gross profit

 

 

(125

)

 

 

262

 

 

 

(20

)

 

 

29

 

Development revenues

 

 

1,018

 

 

 

531

 

 

 

1,306

 

 

 

867

 

Operating expenses

 

 

(6,336

)

 

 

(6,374

)

 

 

(5,629

)

 

 

(4,526

)

In process research and development acquired from Azaya

 

 

(1,686

)

 

 

 

 

 

 

 

 

 

Other expense, net

 

 

(415

)

 

 

(468

)

 

 

(464

)

 

 

(656

)

Net income (loss)

 

$

(7,544

)

 

$

(6,049

)

 

$

(4,807

)

 

$

(4,286

)

Beneficial conversion feature for convertible preferred stock

 

 

 

 

 

 

 

 

 

 

 

(3,977

)

Net income (loss) allocable to common stock holders

 

 

(7,544

)

 

 

(6,049

)

 

 

(4,807

)

 

 

(8,263

)

Basic and diluted net loss per share

 

$

(0.33

)

 

$

(0.19

)

 

$

(0.14

)

 

$

(0.20

)

 

 

 

For the three months ended

 

 

 

March 31,

2016

 

 

June 30,

2016

 

 

September 30,

2016

 

 

December 31,

2016

 

Product revenues

 

$

1,333

 

 

$

1,126

 

 

$

731

 

 

$

1,466

 

Gross profit

 

 

766

 

 

 

541

 

 

 

113

 

 

 

521

 

Development revenues

 

 

1,585

 

 

 

1,699

 

 

 

1,879

 

 

 

1,561

 

Operating expenses

 

 

(7,448

)

 

 

(8,464

)

 

 

(6,789

)

 

 

(5,670

)

Other expense, net

 

 

(242

)

 

 

(181

)

 

 

(587

)

 

 

(1,330

)

Net income (loss)

 

$

(5,339

)

 

$

(6,405

)

 

$

(5,384

)

 

$

(4,918

)

Beneficial conversion feature for convertible preferred stock

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) allocable to common stock holders

 

 

(5,339

)

 

 

(6,405

)

 

 

(5,384

)

 

 

(4,918

)

Basic and diluted net loss per share

 

$

(0.41

)

 

$

(0.43

)

 

$

(0.26

)

 

$

(0.24

)