Quarterly Financial Data (unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (unaudited)

11. Quarterly Financial Data (unaudited)

The following tables present a summary of quarterly results of operations for 2019 and 2018 (in thousands, except shares and per share data):

	Three months ended
	March 31, 2019			June 30, 2019			September 30, 2019			December 31, 2019
Revenues:
Total revenues	$	—		$	—		$	—		$	—
Operating expenses:
Research and development		12,373			15,594			19,447			24,910
General and administrative		5,746			7,110			4,748			5,044
Total operating expenses		18,119			22,704			24,195			29,954
Loss from operations		(18,119	)		(22,704	)		(24,195	)		(29,954	)
Interest income		3,039			3,005			2,766			2,214
Other income		—			—			—			—
Net loss	$	(15,080	)	$	(19,699	)	$	(21,429	)	$	(27,740	)
Net loss per common share:
Basic and diluted net loss per common share	$	(0.98	)	$	(1.28	)	$	(1.39	)	$	(1.80	)
Basic and diluted weighted average number of common shares outstanding		15,364,465			15,368,986			15,415,096			15,429,154

	Three months ended
	March 31, 2018			June 30, 2018			September 30, 2018			December 31, 2018
Revenues:
Total revenues	$	—		$	—		$	—		$	—
Operating expenses:
Research and development		5,198			5,109			6,211			8,871
General and administrative		1,871			2,717			5,122			5,583
Total operating expenses		7,069			7,826			11,333			14,454
Loss from operations		(7,069	)		(7,826	)		(11,333	)		(14,454	)
Interest income		705			1,166			2,821			2,979
Other income		—			200			—			—
Net loss	$	(6,364	)	$	(6,460	)	$	(8,512	)	$	(11,475	)
Net loss per common share:
Basic and diluted net loss per common share	$	(0.45	)	$	(0.45	)	$	(0.56	)	$	(0.75	)
Basic and diluted weighted average number of common shares outstanding		14,127,868			14,383,720			15,307,872			15,348,358