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Quarterly financial information (unaudited)
12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Quarterly financial information (unaudited)
Quarterly financial information (unaudited)

 
First Quarter
Ended
March 31, 2018
 
Second Quarter
Ended
June 30, 2018
 
Third Quarter
Ended
September 30, 2018
 
Fourth Quarter
Ended
December 31, 2018
Net product revenue
$
176,255

 
$
241,416

 
$
247,284

 
$
161,560

Other revenue
2,327

 
4,086

 
3,707

 
1,507

Total revenue
178,582

 
245,502

 
250,991

 
163,067

Costs and expenses:
 

 
 
 
 
 
 
Cost of product revenue
83,934

 
179,945

 
91,937

 
74,934

Research and development
4,680,181

 
6,174,589

 
865,765

 
187,759

Selling, general and administrative
3,697,287

 
2,994,649

 
1,959,872

 
1,921,513

Total costs and expenses
8,461,402

 
9,349,183

 
2,917,574

 
2,184,206

Loss from operations
(8,282,820
)
 
(9,103,681
)
 
(2,666,583
)
 
(2,021,139
)
Interest income, net
59,593

 
51,809

 
28,210

 
12,394

Net loss
$
(8,223,227
)
 
$
(9,051,872
)
 
$
(2,638,373
)
 
$
(2,008,745
)
Net loss per share attributable to common stockholders — basic and diluted
$
(0.46
)
 
$
(0.50
)
 
$
(0.15
)
 
$
(0.11
)
Weighted-average number of common shares outstanding — basic and diluted
17,893,912

 
18,037,274

 
18,066,548

 
18,067,179



 
First Quarter
Ended
March 31, 2017
 
Second Quarter
Ended
June 30, 2017
 
Third Quarter
Ended
September 30, 2017
 
Fourth Quarter
Ended
December 31, 2017
Net product revenue
$
240,292

 
$
330,688

 
$
407,241

 
$
282,752

Other revenue
2,255

 
4,835

 
6,360

 
76

Total revenue
242,547

 
335,523

 
413,601

 
282,828

Costs and expenses:
 

 
 
 
 
 
 
Cost of product revenue
79,106

 
145,325

 
148,756

 
133,343

Research and development
3,914,974

 
4,076,220

 
4,739,360

 
4,259,357

Selling, general and administrative
4,594,716

 
4,990,943

 
4,934,937

 
3,983,088

Total costs and expenses
8,588,796

 
9,212,488

 
9,823,053

 
8,375,788

Loss from operations
(8,346,249
)
 
(8,876,965
)
 
(9,409,452
)
 
(8,092,960
)
Interest income, net
77,854

 
72,342

 
77,339

 
64,429

Net loss
$
(8,268,395
)
 
$
(8,804,623
)
 
$
(9,332,113
)
 
$
(8,028,531
)
Net loss per share attributable to common stockholders — basic and diluted
$
(0.49
)
 
$
(0.51
)
 
$
(0.54
)
 
$
(0.46
)
Weighted-average number of common shares outstanding — basic and diluted
16,873,512

 
17,130,264

 
17,386,249

 
17,642,646



On January 1, 2018, the Company adopted ASC 606 using the modified retrospective method applied to contracts not yet completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606, while prior period amounts are not adjusted and are reported in accordance with the Company's historical accounting under ASC 605.
The Company would have recognized approximately $18,000, $10,000, $1,000 and $15,000 of additional total revenue during the quarters ended March 31, 2018, June 30, 2018, September 30, 2018 and December 31, 2018, respectively, if the Company had continued to recognize revenue under ASC 605.