XML 47 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenues:        
Grant revenue $ 356 $ 264 $ 752 $ 476
Total revenues 356 264 752 476
Operating expenses:        
Research and development 4,545 2,631 8,889 4,211
General and administrative 1,386 1,787 2,848 4,470
Total operating expenses 5,931 4,418 11,737 8,681
Operating loss (5,575) (4,154) (10,985) (8,205)
Other income (expense):        
Change in valuation of financial instruments associated with stock purchase agreement (64)    (111)   
Change in valuation of Economic Rights          570
Change in valuation of liabilities measured at fair value 20    20   
Foreign exchange gains (losses) (43) (101) (33) 19
Interest income 1 3 2 4
Other income, net 26 5,500 26 5,504
Total other income (expense) (60) 5,402 (96) 6,097
Income (loss) from continuing operations before taxes (5,635) 1,248 (11,081) (2,108)
Income tax benefit 816 230 1,385 488
Net income (loss) from continuing operations (4,819) 1,478 (9,696) (1,620)
Discontinued operations:        
Income from discontinued operations 10 24 23 50
Income tax on discontinued operations (3) (10) (8) (20)
Net income from discontinued operations 7 14 15 30
Net income (loss) (4,812) 1,492 (9,681) (1,590)
Deemed dividend on convertible exchangeable preferred shares          (8,366)
Dividend on convertible exchangeable preferred shares (50) (63) (100) (185)
Net income (loss) applicable to common shareholders $ (4,862) $ 1,429 $ (9,781) $ (10,141)
Basic earnings per common share:        
Net income (loss) per share, continuing operations (in dollars per share) $ (0.22) $ 0.10 $ (0.47) $ (0.86)
Net income (loss) per share, discontinued operations (in dollars per share) $ 0.00 $ 0.00 $ 0.00 $ 0.00
Net income (loss) per share applicable to common shareholders (in dollars per share) $ (0.22) $ 0.10 $ (0.46) $ (0.86)
Diluted earnings per common share:        
Net income (loss) per share, continuing operations - Diluted $ (0.22) $ 0.10 $ (0.47) $ (0.86)
Net income (loss) per share, discontinued operations (in dollars per share) $ 0.00 $ 0.00 $ 0.00 $ 0.00
Net income (loss) per share applicable to common shareholders (in dollars per share) $ (0.22) $ 0.10 $ (0.46) $ (0.86)
Weighted average shares of common stock outstanding:        
Basic (in shares) 22,582,283 13,885,442 21,064,739 11,849,270
Diluted (in shares) 22,582,283 13,927,371 21,064,739 11,849,270