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Note 22 - Selected Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2019
Notes to Financial Statements  
Quarterly Financial Information [Text Block]
Note
22
- Selected Quarterly Financial Data (Unaudited)
 
The following tables contain unaudited statement of operations information for each quarter of
2019
and
2018.
The operating results for any quarter are
not
necessarily indicative of results for any future period.
 
2019 Quarters Ended:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
(in thousands, except per share data)
  
Mar. 31
    
June 30
    
Sept. 30
    
Dec. 31
    
Total Year
  
Revenues:
                                        
Grant revenue
   $
-
     $
-
     $
-
     $
-
     $
-
  
License revenue with affiliate
    
40
      
158
      
-
      
-
      
198
  
Total revenues
    
40
      
158
      
-
      
-
      
198
  
Expenses:
                                        
Research and development
    
3,342
      
3,413
      
3,792
      
2,140
      
12,687
  
Selling, general and administrative
    
3,355
      
3,240
      
3,395
      
2,414
      
12,404
  
Total expenses
    
6,697
      
6,653
      
7,187
      
4,554
      
25,091
  
Operating loss
    
(6,657
 )    
(6,495
 )    
(7,187
 )    
(4,554
 )    
(24,893
 )
Other income / (expense), net
    
120
      
58
      
61
      
(2,821
 )    
(2,582
 )
Net (loss) / income
   $
(6,537
 )   $
(6,437
 )   $
(7,126
 )   $
(7,375
 )   $
(27,475
 )
Net (loss) / income per common share - basic and diluted
   $
(0.20
 )   $
(0.20
 )   $
(0.22
 )   $
(0.21
 )   $
(0.84
 )
Weighted average number of common shares outstanding - basic and diluted
    
32,142
      
32,189
      
32,189
      
34,597
      
32,784
  
 
2018 Quarters Ended:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
(in thousands, except per share data)
  
Mar. 31
    
June 30
    
Sept. 30
    
Dec. 31
    
Total Year
  
Revenues:
                                        
Grant revenue
   $
-
     $
695
     $
70
     $
-
     $
765
  
License revenue with affiliate
    
204
      
356
      
159
      
304
      
1,023
  
Total revenues
    
204
      
1,051
      
229
      
304
      
1,788
  
Expenses:
                                        
Research and development
    
3,118
      
2,879
      
2,197
      
2,368
      
10,562
  
Selling, general and administrative
    
1,926
      
1,208
      
1,500
      
2,787
      
7,421
  
Total expenses
    
5,044
      
4,087
      
3,697
      
5,155
      
17,983
  
Operating loss
    
(4,840
 )    
(3,036
 )    
(3,468
 )    
(4,851
 )    
(16,195
 )
Other income / (expense), net
    
328
      
(16
 )    
(459
 )    
(4,191
 )    
(4,338
 )
Net (loss) / income
   $
(4,512
 )   $
(3,052
 )   $
(3,927
 )   $
(9,042
 )   $
(20,533
 )
AEROSURF warrant dividend
    
-
      
-
      
-
      
(12,505
 )    
(12,505
 )
Deemed dividend on preferred stock
    
-
      
-
      
-
      
(1,718
 )    
(1,718
 )
Net (loss) / income attributable to common shareholders
   $
(4,512
 )   $
(3,052
 )   $
(3,927
 )   $
(23,265
 )   $
(34,756
 )
Net (loss) / income per common share - basic and diluted
   $
(1.40
 )   $
(0.81
 )   $
(1.04
 )   $
(3.24
 )   $
(7.74
 )
Weighted average number of common shares outstanding - basic and diluted
    
3,227
      
3,751
      
3,769
      
7,191
      
4,493