Selected quarterly financial data (unaudited)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data

14. Selected Quarterly Financial Data (Unaudited)

The following table contains quarterly financial information for 2015 and 2014. The Company believes that the following information reflects all normal recurring adjustments necessary for a fair statement of the information for the periods presented. The operating results for any quarter are not necessarily indicative of results for any future period.

	2015
	First		Second		Third		Fourth
	Quarter		Quarter		Quarter		Quarter		Total
	(in thousands, except per share data)
Collaboration revenue	$	2,576	$	4,884	$	4,937	$	4,937	$	17,334
Total operating expenses		7,404		8,851		8,956		12,377		37,588
Loss from operations		(4,828)		(3,967)		(4,019)		(7,440)		(20,254)
Net loss attributable to common shareholders		(15,813)		(6,746)		(6,914)		(8,817)		(38,290)
Net loss per share applicable to common stockholders – basic and diluted	$	(15.81)	$	(5.80)	$	(5.25)	$	(0.67)	$	(9.14)

	2014
	First		Second		Third		Fourth
	Quarter		Quarter		Quarter		Quarter		Total
	(in thousands, except per share data)
Collaboration revenue	$	—	$	—	$	—	$	—	$	—
Total operating expenses		2,985		3,230		3,656		4,496		14,367
Loss from operations		(2,985)		(3,230)		(3,656)		(4,496)		(14,367)
Net loss attributable to common shareholders		(3,211)		(4,864)		(4,411)		(5,197)		(17,683)
Net loss per share applicable to common stockholders – basic and diluted	$	(6.93)	$	(8.11)	$	(6.45)	$	(6.58)	$	(27.83)