Supplemental Financial Information

12 Months Ended

Mar. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplemental Financial Information

17. Supplemental Financial Information

The following table presents the unaudited statements of operations data for each of the eight quarters in the period ended March 31, 2015. The information has been presented on the same basis as the audited financial statements and all necessary adjustments, consisting only of normal recurring adjustments, have been included in the amounts below to present fairly the unaudited quarterly results when read in conjunction with the audited financial statements and related notes. The operating results for any quarter should not be relied upon as necessarily indicative of results for any future period.

Quarterly Results of Operations (Unaudited)

 (in thousands, except share and per share amounts)

	Three Months Ended												Total
	June 30, 2014			September 30, 2014			December 31, 2014			March 31, 2015			Fiscal Year 2015
Revenues:	$	-		$	-		$	-		$	-		$	-
Operating expenses:
Research and development		474			558			445			956			2,433
General and administrative		797			556			671			2,320			4,344
Total operating expenses		1,271			1,114			1,116			3,276			6,777
Loss from operations		(1,271	)		(1,114	)		(1,116	)		(3,276	)		(6,777	)
Other expenses, net:
Interest expense, net		(785	)		(606	)		(792	)		(2,366	)		(4,549	)
Change in warrant liabilities		(1,727	)		1,302			953			(563	)		(35	)
Loss on extinguishment of debt		(768	)		(1,603	)		-			(17	)		(2,388	)
Other expense, net		-			-			(135	)		-			(135	)
Loss before income taxes		(4,551	)		(2,021	)		(1,090	)		(6,222	)		(13,884	)
Income taxes		(2	)		-			-			-			(2	)
Net loss	$	(4,553	)	$	(2,021	)	$	(1,090	)	$	(6,222	)	$	(13,886	)
Basic net (loss) per common share	$	(3.70	)	$	(1.58	)	$	(0.84	)	$	(4.24	)	$	(10.53	)
Diluted net loss per common share	$	(3.70	)	$	(1.90	)	$	(1.08	)	$	(4.24	)	$	(10.61	)
Weighted average shares used in computing:
Basic net (loss) per common share		1,229,488			1,279,251			1,302,300			1,466,386			1,318,797
Diluted net loss per common share		1,229,488			1,299,099			1,302,300			1,466,386			1,318,797

	Three Months Ended												Total
	June 30, 2013			September 30, 2013			December 31, 2013			March 31, 2014			Fiscal Year 2014
Revenues:	$	-		$	-		$	-		$	-		$	-
Operating expenses:
Research and development		695			669			551			566			2,481
General and administrative		605			546			897			500			2,548
Total operating expenses		1,300			1,215			1,448			1,066			5,029
Loss from operations		(1,300	)		(1,215	)		(1,448	)		(1,066	)		(5,029	)
Other expenses, net:
Interest expense, net		(316	)		(323	)		(361	)		(503	)		(1,503	)
Change in warrant liabilities		1,805			79			1,940			(257	)		3,567
Income (loss) before income taxes		189			(1,459	)		131			(1,826	)		(2,965	)
Income taxes		(3	)		-			-			-			(3	)
Net income (loss)		186		$	(1,459	)	$	131		$	(1,826	)	$	(2,968	)
Basic net income (loss) per common share	$	0.18		$	(1.35	)	$	0.12		$	(1.57	)	$	(2.70	)
Diluted net loss per common share	$	(0.44	)	$	(1.37	)	$	(0.44	)	$	(1.57	)	$	(3.81	)
Weighted average shares used in computing:
Basic net income (loss) per common share		1,042,081			1,081,529			1,110,529			1,162,636			1,098,742
Diluted net loss per common share		1,061,544			1,128,152			1,110,529			1,162,636			1,099,216