Selected Quarterly Financial Information (unaudited)

12 Months Ended

Dec. 31, 2014

Selected Quarterly Financial Information (unaudited)

Selected Quarterly Financial Information (unaudited)

17. Selected Quarterly Financial Information (unaudited)

The following is a summary of the quarterly results of operations for the years ended December 31, 2014 and 2013:

	2014
	March 31			June 30  (Restated)			September 30  (Restated)		December 31  (Restated)
Collaboration revenue	$	—		$	—		$	39,575	$	1,684
Research and development expenses	14,377			34,707			17,105		22,196
General and administrative expenses	6,349			7,570			8,812		10,656
Income (loss) from operations	(20,726		)	(42,277		)	13,658		(31,168		)
Net income (loss) attributable to common stockholders	$	(20,682	)	$	(72,990	)	$	8,552	$	(31,652	)
Basic earnings (loss) per common share	$	(0.64	)	$	(2.19	)	$	0.26	$	(0.94	)
Diluted earnings (loss) per common share	$	(0.64	)	$	(2.19	)	$	0.25	$	(0.94	)

	2013
	March 31			June 30			September 30			December 31
Collaboration revenue	$	—		$	—		$	—		$	—
Research and development expenses	2,390			4,345			11,101			15,379
General and administrative expenses	1,738			3,241			4,166			5,065
Loss from operations	(4,128		)	(7,586		)	(15,267		)	(20,444		)
Net loss attributable to common shareholders	$	(6,361	)	$	(11,863	)	$	(18,424	)	$	(20,388	)
Basic and diluted earnings per common share	$	(4.33	)	$	(8.07	)	$	(10.26	)	$	(0.65	)

As further described in Note 18, the Company restated its balance sheets and results of operations as of and for the quarters ended June 30, 2014, September 30, 2014 and December 31, 2014 and as of and for the year ended December 31, 2014 to reflect the correction of its accounting for valuation allowances related to deferred tax assets. See Note 18 for a summary of the effect of the restatement by major financial statement line items as of these dates and for these periods. The restatement has no effect on any amount reported in the periods prior to June 30, 2014.