Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2014

Selected Quarterly Financial Data (Unaudited) [Abstract]

Selected Quarterly Financial Data (Unaudited)

Note 16 – Selected Quarterly Financial Data (Unaudited)

The following tables contain unaudited statement of operations information for each quarter of 2014 and 2013.  The operating results for any quarter are not necessarily indicative of results for any future period.

2014 Quarters Ended:
(in thousands, except per share data)	Mar. 31			June 30			Sept. 30			Dec. 31			Total Year
Revenues:
Product sales	$	28		$	42		$	106		$	136		$	312
Grant revenues		3			1,051			421			1,048			2,523
Total revenues		31			1,093			527			1,184			2,835
Expenses:
Cost of sales		781			731			257			902			2,671
Research and development		5,590			6,858			6,471			7,771			26,690
Selling, General and administrative		4,423			4,446			4,126			3,737			16,732
Total expenses		10,794			12,035			10,854			12,410			46,093
Operating loss		(10,763	)		(10,942	)		(10,327	)		(11,226	)		(43,258	)
Change in fair value of common stock warrant liability		378			1,448			173			1,792			3,791
Other expense, net		(1,091	)		(1,129	)		(1,170	)		(1,201	)		(4,591	)
Net loss	$	(11,476	)	$	(10,623	)	$	(11,324	)	$	(10,635	)	$	(44,058	)
Net loss per common share - basic	$	(0.14	)	$	(0.12	)	$	(0.13	)	$	(0.12	)	$	(0.52	)
Net loss per common share - diluted		(0.14	)		(0.14	)		(0.13	)		(0.15	)		(0.56	)
Weighted average number of common shares outstanding - basic		84,728			85,061			85,209			85,358			85,095
Weighted average number of common shares outstanding - diluted		84,728			85,882			85,209			85,560			86,025

2013 Quarters Ended:
(in thousands, except per share data)	Mar. 31			June 30			Sept. 30			Dec. 31			Total Year
Grant revenues	$	72		$	182		$	60		$	74		$	388
Expenses:
Cost of sales		–			–			–			517			517
Research and development		8,472			6,863			6,574			5,752			27,661
Selling, General and administrative		4,220			4,129			4,299			4,070			16,718
Total expenses		12,692			10,992			10,873			10,339			44,896
Operating loss		(12,620	)		(10,810	)		(10,813	)		(10,265	)		(44,508	)
Change in fair value of common stock warrant liability		162			2,525			(1,059	)		(867	)		761
Other expense, net		(177	)		(342	)		(352	)		(597	)		(1,468	)
Net loss	$	(12,635	)	$	(8,627	)	$	(12,224	)	$	(11,729	)	$	(45,215	)
Net loss per common share - basic	$	(0.29	)	$	(0.18	)	$	(0.22	)	$	(0.16	)	$	(0.82	)
Net loss per common share - diluted		(0.29	)		(0.22	)		(0.22	)		(0.16	)		(0.82	)
Weighted average number of common shares outstanding - basic		43,657			49,135			54,792			73,129			55,258
Weighted average number of common shares outstanding - diluted		43,657			49,866			54,792			73,129			55,258