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Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (Unaudited)

19.QUARTERLY FINANCIAL DATA (unaudited)

The following table summarizes the unaudited quarterly financial data for the last two fiscal years:

CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except share data and per share data)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2014

 

 

 

First Quarter

 

 

Second Quarter

 

 

Third Quarter

 

 

Fourth Quarter

 

Revenue

 

$

47

 

 

$

33

 

 

$

—

 

 

$

—

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

 

1,495

 

 

 

2,648

 

 

 

2,928

 

 

 

4,701

 

General and administrative

 

 

1,510

 

 

 

2,029

 

 

 

2,441

 

 

 

2,607

 

Total operating expenses

 

 

3,005

 

 

 

4,677

 

 

 

5,369

 

 

 

7,308

 

Other income (expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

 

1

 

 

 

2

 

 

 

2

 

 

 

4

 

Interest expense

 

 

(461

)

 

 

(268

)

 

 

(191

)

 

 

(163

)

Loss on extinguishment of debt

 

 

—

 

 

 

(2,493

)

 

 

—

 

 

 

—

 

Decrease in value of preferred stock warrant liability

 

 

504

 

 

 

—

 

 

 

—

 

 

 

—

 

Total other income (expense) — net

 

 

44

 

 

 

(2,759

)

 

 

(189

)

 

 

(159

)

Net loss attributable to common stockholders

 

$

(2,914

)

 

$

(7,403

)

 

$

(5,558

)

 

$

(7,467

)

Net loss per share attributable to common stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

$

(3.70

)

 

$

(0.44

)

 

$

(0.28

)

 

$

(0.37

)

Weighted-average common shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

 

786,986

 

 

 

16,883,716

 

 

 

20,124,574

 

 

 

20,125,009

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2013

 

 

 

First Quarter

 

 

Second Quarter

 

 

Third Quarter

 

 

Fourth Quarter

 

Revenue

 

$

—

 

 

$

—

 

 

$

—

 

 

$

6

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

 

3,479

 

 

 

3,195

 

 

 

1,586

 

 

 

1,440

 

General and administrative

 

 

1,972

 

 

 

1,392

 

 

 

1,227

 

 

 

1,575

 

Total operating expenses

 

 

5,451

 

 

 

4,587

 

 

 

2,813

 

 

 

3,015

 

Other income (expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

 

1

 

 

 

—

 

 

 

—

 

 

 

1

 

Interest expense

 

 

(353

)

 

 

(326

)

 

 

(378

)

 

 

(430

)

Loss on extinguishment of debt

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Decrease in value of preferred stock warrant liability

 

 

231

 

 

 

20

 

 

 

(7

)

 

 

(42

)

Total other income (expense) — net

 

 

(121

)

 

 

(306

)

 

 

(385

)

 

 

(471

)

Net loss attributable to common stockholders

 

$

(5,572

)

 

$

(4,893

)

 

$

(3,198

)

 

$

(3,480

)

Net loss per share attributable to common stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

$

(9.09

)

 

$

(7.96

)

 

$

(4.40

)

 

$

(4.45

)

Weighted-average common shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

 

612,836

 

 

 

614,662

 

 

 

726,987

 

 

 

782,335