(in thousands, except per share data)

Quarters Ended

March 31

June 30

September 30

December 31

2014

Total revenue

$

125

$

125

$

125

$

125

Net loss

(5,423

)

(6,673

)

(6,942

)

(6,455

)

Basic and diluted net loss per share

(0.33

)

(0.38

)

(0.35

)

(0.32

)

2013

Total revenue

$

125

$

125

$

125

$

125

Net loss

(651

)

421

(4,072

)

(3,949

)

Non-cash deemed dividend from beneficial conversion feature on convertible preferred stock

(4,601

)

─

Basic and diluted net loss available to common shareholders per share

(0.48

)

0.03

(0.30

)

(0.29

)