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SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) | 12 Months Ended
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Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract] |
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) | NOTE 14 – SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) Summarized quarterly financial data for fiscal years 2019 and 2018 is as follows:
|  | 2019 |
(In thousands, except per share) |  | First Quarter |  |  | Second Quarter(1) |  |  | Third Quarter(2) |  |  | Fourth Quarter |
Revenues |  | $ | 3,947 |  |  | $ | 6,079 |  |  | $ | 23,719 |  |  | $ | 15,902 |
Gross profit |  | $ | 3,184 |  |  | $ | 4,830 |  |  | $ | 22,275 |  |  | $ | 13,023 |
Net loss |  | $ | (39,506 | ) |  | $ | (55,237 | ) |  | $ | (31,967 | ) |  | $ | (49,435 | )
Loss per common share, basic and diluted |  | $ | (0.16 | ) |  | $ | (0.23 | ) |  | $ | (0.13 | ) |  | $ | (0.19 | )
|  | 2018 |
(In thousands, except per share) |  | First Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Fourth Quarter |
Revenues |  | $ | 3,773 |  |  | $ | 3,763 |  |  | $ | 3,474 |  |  | $ | 5,089 |
Gross profit |  | $ | 3,139 |  |  | $ | 3,309 |  |  | $ | 2,775 |  |  | $ | 4,139 |
Net loss |  | $ | (24,402 | ) |  | $ | (33,219 | ) |  | $ | (35,605 | ) |  | $ | (39,391 | )
Loss per common share, basic and diluted |  | $ | (0.11 | ) |  | $ | (0.15 | ) |  | $ | (0.16 | ) |  | $ | (0.17 | )
| (1) | During the second quarter of 2019, we recorded $10.1 million in loss on extinguishment of debt related to the repayment of the Credit Agreement. Refer to discussion in Note 8-Debt.
| (2) | During the third quarter of 2019, we recorded $15.5 million in license revenue related to the Theramex License Agreement. Refer to discussion in Note 2-Summary of Significant Accounting Policies.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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