Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v2.4.0.8
Condensed Consolidated Statements of Operations (Unaudited) (USD $)
 3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues        
Product sales $ 0 $ 0 $ 0 $ 1,542,000
License revenues 152,000 144,000 448,000 290,000
Royalties 84,000 45,000 243,000 48,000
Total revenues 236,000 189,000 691,000 1,880,000
Expenses        
Research and development 73,000 236,000 298,000 756,000
Product costs 0 7,000 0 125,000
Selling, general and administrative 795,000 642,000 3,055,000 4,117,000
Depreciation and amortization 1,000 0 2,000 2,000
Total expenses 869,000 885,000 3,355,000 5,000,000
Loss from operations (633,000) (696,000) (2,664,000) (3,120,000)
Interest and miscellaneous income 11,000 46,000 45,000 215,000
Interest and other expense (147,000) (96,000) (406,000) (182,000)
Gain on change in fair value of derivative - warrants 0 168,000 0 140,000
Gain (loss) on change in fair value of derivative - preferred stock (700,000) 421,000 (11,810,000) 8,471,000
Total non operating income (expense) (836,000) 539,000 (12,171,000) 8,644,000
Net income (loss) (1,469,000) (157,000) (14,835,000) 5,524,000
Less preferred stock dividends 740,000 742,000 2,191,000 2,202,000
Net income (loss) allocable to common stockholders $ (2,209,000) $ (899,000) $ (17,026,000) $ 3,322,000
Net income (loss) per common share        
Basic (in dollars per share) $ (4.15) $ (1.77) $ (32.46) $ 6.61
Diluted (in dollars per share) $ (4.15) $ (1.77) $ (32.46) $ 6.55
Weighted average number of common shares outstanding        
Basic (in shares) 532,258 508,655 524,595 502,349
Diluted (in shares) 532,258 508,655 524,595 507,133