Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues        
License revenues $ 150,000 $ 150,000 $ 301,000 $ 296,000
Royalties 132,000 97,000 239,000 159,000
Total revenues 282,000 247,000 540,000 455,000
Expenses        
Research and development 610,000 81,000 1,063,000 225,000
General and administrative 3,667,000 868,000 5,356,000 2,260,000
Depreciation and amortization 132,000 1,000 250,000 1,000
Total expenses 4,409,000 950,000 6,669,000 2,486,000
Loss from operations (4,127,000) (703,000) (6,129,000) (2,031,000)
Interest and miscellaneous income 16,000 26,000 19,000 34,000
Interest and other expense (2,000) (137,000) (3,000) (259,000)
Loss on change in fair value of derivative - preferred stock 0 (11,693,000) 0 (11,110,000)
Total non operating income (expense) 14,000 (11,804,000) 16,000 (11,335,000)
Net loss (4,113,000) (12,507,000) (6,113,000) (13,366,000)
Less preferred stock dividends 0 726,000 0 1,451,000
Net loss allocable to common stockholders $ (4,113,000) $ (13,233,000) $ (6,113,000) $ (14,817,000)
Basic and diluted loss per common share (in dollars per share) $ (0.16) $ (25.26) $ (0.27) $ (28.46)
Weighted average number of common shares outstanding (in shares) 25,695,973 523,826 22,855,642 520,700