Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Revenues    
License revenues $ 602,000 $ 602,000
Royalties 235,000 287,000
Total revenues 837,000 889,000
Expenses    
Research and development 16,989,000 10,655,000
General and administrative 10,943,000 13,290,000
Depreciation and amortization 741,000 825,000
Total expenses 28,673,000 24,770,000
Loss from operations (27,836,000) (23,881,000)
Interest and miscellaneous income 525,000 2,014,000
Interest and other expense (8,000) (6,000)
Total non operating income (expense) 517,000 2,008,000
Net loss $ (27,319,000) $ (21,873,000)
Basic and diluted loss per common share (in dollars per share) $ (0.66) $ (0.64)
Weighted average number of common shares outstanding - basic and diluted (in shares) 41,636,752 34,180,253