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Quarterly Financial Data
 12 Months Ended
Dec. 31, 2013
Quarterly Financial Data

19. Quarterly Financial Data

The following table presents certain unaudited quarterly financial information. This information has been prepared on the same basis as the audited financial statements and includes all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the unaudited quarterly results of operations set forth herein. Net income (loss) per share for all periods presented have been retroactively adjusted to reflect the 1-for-10 reverse stock split effected on May 17, 2013. All data is in thousands except per share data.

 

 

 

2013

 

 

2012

 

 

 

Q1

 

 

Q2

 

 

Q3

 

 

Q4

 

 

Q1

 

 

Q2

 

 

Q3

 

 

Q4

 

Collaboration and license revenue

 

$

3,108

 

 

$

2,601

 

 

$

2,766

 

 

$

2,056

 

 

$

2,481

 

 

$

66,865

 

 

$

738

 

 

$

1,958

 

Operating expenses

 

$

(20,761

)

 

$

(24,541

)

 

$

(21,995

)

 

$

(27,412

)

 

$

(15,768

)

 

$

(16,147

)

 

$

(12,833

)

 

$

(16,438

)

Net income (loss)

 

$

(18,142

)

 

$

(21,598

)

 

$

(18,550

)

 

$

(25,062

)

 

$

(13,127

)

 

$

49,762

 

 

$

(11,488

)

 

$

(13,781

)

Net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

(12.94

)

 

$

(1.47

)

 

$

(0.53

)

 

$

(0.63

)

 

$

(10.08

)

 

$

1.71

 

 

$

(8.38

)

 

$

(10.02

)

Diluted

 

$

(12.94

)

 

$

(1.47

)

 

$

(0.53

)

 

$

(0.63

)

 

$

(10.08

)

 

$

1.67

 

 

$

(8.38

)

 

$

(10.02

)