The following tables summarize the unaudited statements of operations for each quarter of 2016 and 2015 (in thousands except share and per share amounts):


	Quarters Ended
	March 31,		June 30,		September 30,		December 31,
2016
Revenue	$	12	$	13	$	33	$	12
Operating expenses:
Research and development		6,531		6,788		5,985		8,188
General and administrative		3,820		7,394		2,988		3,096
Loss from operations		(10,339)		(14,169)		(8,940)		(11,272)
Interest income, net		189		208		232		232
Other expense, net		(3)		(1)		—		(25)
Net loss	$	(10,153)	$	(13,962)	$	(8,708)	$	(11,065)
Net loss per share-basic and diluted (1) (2)	$	(0.24)	$	(0.33)	$	(0.21)	$	(0.26)
Weighted average common shares outstanding – basic and diluted (2)		42,109,828		42,178,537		42,263,311		42,289,453


	Quarters Ended
	March 31,		June 30,		September 30,		December 31,
2015
Revenue	$	12	$	13	$	33	$	12
Operating expenses:
Research and development		6,617		6,724		6,582		6,386
General and administrative		4,360		4,071		3,776		3,527
Loss from operations		(10,965)		(10,782)		(10,325)		(9,901)
Interest income, net		152		185		153		162
Other income (expense), net		(57)		(7)		170		(55)
Net loss	$	(10,870)	$	(10,604)	$	(10,002)	$	(9,794)
Net loss per share-basic and diluted (1) (2)	$	(0.26)	$	(0.25)	$	(0.24)	$	(0.23)
Weighted average common shares outstanding – basic and diluted (2)	$	41,857,905	$	41,939,052	$	41,974,518	$	41,984,763

(1)

Per common share amounts for the quarters and full years have been calculated separately. Accordingly, the sum of quarterly amounts may not equal the annual amount due to differences in the weighted average common shares outstanding during each period, principally due to the effect of share issuances by the Company during the year.

Diluted weighted average common shares outstanding are identical to basic weighted average common shares outstanding and diluted net loss per share is identical to basic net loss per share for all quarters of 2015 and 2016 because common share equivalents are excluded from the calculations of diluted weighted average common shares outstanding for those quarters, as their effect is anti-dilutive.