| Schedule of Quarterly Financial Data |
Selected quarterly financial data for
2016 and 2015 are contained in the Condensed Interim Financial Data table below.
| ($ in thousands except per share amounts) |
|
4th Q |
|
|
3rd Q |
|
|
2nd Q |
|
|
1st Q |
|
| 2016 |
|
|
|
|
|
|
|
|
|
|
|
|
| Grant Revenues |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
| Research and development |
|
|
93,876 |
(1) |
|
|
2,093 |
|
|
|
2,368 |
|
|
|
3,342 |
|
| General and administrative |
|
|
510 |
|
|
|
(199 |
) |
|
|
1,836 |
|
|
|
1,992 |
|
| Total costs and expenses |
|
|
94,386 |
|
|
|
1,894 |
|
|
|
4,204 |
|
|
|
5,334 |
|
| Operating loss |
|
|
(94,386 |
) |
|
|
(1,894 |
) |
|
|
(4,204 |
) |
|
|
(5,334 |
) |
| Other income (expense), net |
|
|
(762 |
) |
|
|
13 |
|
|
|
977 |
|
|
|
1,322 |
|
| Income tax benefit (provision) |
|
$ |
29,394 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
| Net (loss) income |
|
|
(65,754 |
) |
|
|
(1,881 |
) |
|
|
(3,227 |
) |
|
|
(4,012 |
) |
| Basic (loss) earnings per common share |
|
$ |
(0.10 |
) |
|
$ |
(0.00 |
) |
|
$ |
(0.00 |
) |
|
$ |
(0.01 |
) |
| (Loss) earnings per common share assuming dilution |
|
$ |
(0.10 |
) |
|
$ |
(0.00 |
) |
|
$ |
(0.00 |
) |
|
$ |
(0.01 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Grant Revenues |
|
$ |
- |
|
|
$ |
24 |
|
|
$ |
27 |
|
|
$ |
27 |
|
| Research and development |
|
|
41,578 |
(2) |
|
|
2,177 |
|
|
|
1,946 |
|
|
|
1,560 |
|
| General and administrative |
|
|
2,795 |
|
|
|
1,437 |
|
|
|
1,898 |
|
|
|
635 |
|
| Total costs and expenses |
|
|
44,373 |
|
|
|
3,614 |
|
|
|
3,844 |
|
|
|
2,195 |
|
| Operating loss |
|
|
(44,373 |
) |
|
|
(3,590 |
) |
|
|
(3,817 |
) |
|
|
(2,168 |
) |
| Other income (expense), net |
|
|
(1,376 |
) |
|
|
3,082 |
|
|
|
1,246 |
|
|
|
(14,374 |
) |
| Income tax benefit (provision) |
|
|
15,300 |
|
|
|
- |
|
|
|
(52 |
) |
|
|
- |
|
| Net (loss) income |
|
$ |
(30,449 |
) |
|
$ |
(508 |
) |
|
$ |
(2,623 |
) |
|
$ |
(16,542 |
) |
| Basic (loss) earnings per common share |
|
$ |
(0.05 |
) |
|
$ |
(0.00 |
) |
|
$ |
(0.00 |
) |
|
$ |
(0.03 |
) |
| (Loss) earnings per common share assuming dilution |
|
$ |
(0.05 |
) |
|
$ |
(0.01 |
) |
|
$ |
(0.01 |
) |
|
$ |
(0.04 |
) |
| (1) |
|
Includes impairment charge for the company’s IPR&D asset of $92,369,000 |
| |
|
|
| (2) |
|
Includes impairment charge for the company’s IPR&D asset of $38,665,000 |
|