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Selected Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Selected Quarterly Financial Data (Unaudited)
Selected Quarterly Financial Data (Unaudited)
The following financial information reflects all normal recurring adjustments, which are, in the opinion of management, necessary for a fair statement of the results of the interim periods. Summarized quarterly data for 2016 and 2015 are as follows (in thousands, except per share data):
 
 
 
For the quarters ending
 
 
March 31
 
June 30
 
September 30
 
December 31
2016
 
 
 
 
 
 
 
 
Revenues
 
$
489

 
$
483

 
$
204

 
$
18

Operating expenses
 
21,867

 
21,671

 
19,396

 
19,762

Net loss
 
(21,207
)
 
(21,090
)
 
(19,519
)
 
(20,020
)
Basic and diluted net loss per share
 
$
(0.40
)
 
$
(0.40
)
 
$
(0.37
)
 
$
(0.38
)
2015
 
 
 
 
 
 
 
 
Revenues
 
$
4,200

 
$
3,834

 
$
1,865

 
$
10,860

Operating expenses
 
17,071

 
25,015

 
15,210

 
18,221

Net loss
 
(14,487
)
 
(21,035
)
 
(13,000
)
 
(7,226
)
Basic net loss per share(1)
 
$
(0.29
)
 
$
(0.41
)
 
$
(0.25
)
 
$
(0.14
)
 
(1)
Net loss per share is computed independently for each of the quarters presented. Therefore, the sum of the quarterly per-share calculations will not necessarily equal the annual per share calculation.