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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues:        
Grant revenue $ 205 $ 462 $ 566 $ 1,270
Collaboration and research and development revenue   253   253
Total revenues 205 715 566 1,523
Operating expenses:        
Research and development 2,409 2,904 7,545 9,826
General and administrative 1,273 1,205 4,002 4,006
Total operating expenses 3,682 4,109 11,547 13,832
Operating loss (3,477) (3,394) (10,981) (12,309)
Other income (expense):        
Change in valuation of financial instruments associated with stock purchase agreement   (27)   (51)
Foreign exchange gains (losses) 51 219 369 (354)
Interest income 8 2 31 5
Other income, net 18 13 56 95
Total other income (expense) 77 207 456 (305)
Loss before taxes (3,400) (3,187) (10,525) (12,614)
Income tax benefit 454 478 1,573 1,646
Net loss (2,946) (2,709) (8,952) (10,968)
Dividend on convertible exchangeable preferred shares (50) (50) (150) (150)
Net loss applicable to common shareholders $ (2,996) $ (2,759) $ (9,102) $ (11,118)
Basic and diluted earnings per common share:        
Net loss per share - basic and diluted (in dollars per share) $ (0.86) $ (0.95) $ (2.89) $ (4.20)
Weighted average common shares outstanding (in shares) 3,473,696 2,889,893 3,145,730 2,645,159