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Quarterly Consolidated Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Data [Abstract]  
Quarterly Consolidated Financial Data (Unaudited)
Quarterly Consolidated Financial Data (Unaudited)

 
Quarter Ended
 
March 31,
2016
 
June 30,
2016
 
September 30,
2016
 
December 31,
2016
 
(dollars in thousands, except share and per share data)
Revenues
$
—

 
$
—

 
$
—

 
$
—

 
 
 
 
 
 
 
 
Costs and Expenses:
 
 
 
 
 
 
 
Research and development
21,175

 
26,611

 
24,610

 
17,166

Selling, general and administrative
6,375

 
10,249

 
13,872

 
25,232

Loss from Operations
(27,550
)
 
(36,860
)
 
(38,482
)
 
(42,398
)
Other Loss
 
 
 
 
 
 
 
Interest and investment income/(expense), net
(7,036
)
 
(1,673
)
 
(1,674
)
 
(3,007
)
Debt conversion expense
(25,615
)
 
—

 
—

 
(14,543
)
Tax credits
—

 
—

 
—

 
126

Change in fair value of derivative instruments—warrants
260

 
(23
)
 
(87
)
 
(45
)
Total Other Loss
(32,391
)
 
(1,696
)
 
(1,761
)
 
(17,469
)
Net loss
$
(59,941
)
 
$
(38,556
)
 
$
(40,243
)
 
$
(59,867
)
 
 
 
 
 
 
 
 
Weighted Average Common Shares Outstanding—basic and diluted (a)
117,626,669

 
168,127,144

 
179,786,580

 
190,093,786

 
 
 
 
 
 
 
 
Net Loss per Common Share—basic and diluted (a)
$
(0.51
)
 
$
(0.23
)
 
$
(0.22
)
 
$
(0.31
)

_____________________________________________________________________________
(a)
Basic and diluted EPS are computed independently for each of the periods presented. Accordingly, the sum of the quarterly EPS amounts may not agree to the total for the year.

 
Quarter Ended
 
March 31,
2015
 
June 30,
2015
 
September 30,
2015
 
December 31,
2015
 
(dollars in thousands, except share and per share data)
Revenues
$
—

 
$
—

 
$
—

 
$
—

 
 
 
 
 
 
 
 
Costs and expenses:
 
 
 
 
 
 
 
Research and Development
18,198

 
19,525

 
20,424

 
19,881

General and administrative
4,606

 
7,394

 
2,728

 
7,066

Loss from operations
(22,804
)
 
(26,919
)
 
(23,152
)
 
(26,947
)
 
 
 
 
 
 
 
 
Other income
 
 
 
 
 
 
 
Interest and investment income/(expense), net
(4,317
)
 
(5,207
)
 
(4,291
)
 
(3,469
)
Change in fair value of derivative instruments—warrants
(268
)
 
(1,542
)
 
1,446

 
(30
)
Total other income/(loss)
(4,585
)
 
(6,749
)
 
(2,845
)
 
(3,499
)
Net Loss
$
(27,389
)
 
$
(33,668
)
 
$
(25,997
)
 
$
(30,446
)
 
 
 
 
 
 
 
 
Weighted Average Common Shares Outstanding—basic and diluted (a)
96,683,525

 
100,343,637

 
111,328,339

 
113,678,306

 
 
 
 
 
 
 
 
Net Loss per Common Share, basic and diluted (a):
$
(0.28
)
 
$
(0.34
)
 
$
(0.23
)
 
$
(0.27
)

____________________________________________________________________________
(a)
Basic and diluted EPS are computed independently for each of the periods presented. Accordingly, the sum of the quarterly EPS amounts may not agree to the total for the year.