Quarterly report pursuant to Section 13 or 15(d)

New Accounting Standards Implemented (Tables)

v3.10.0.1
New Accounting Standards Implemented (Tables)
 9 Months Ended
Sep. 30, 2018
Accounting Changes and Error Corrections [Abstract]  
Balance Sheet Due to the Adoption of ASC 606
The table below presents the cumulative effect of the changes made to the consolidated January 1, 2018 balance sheet due to the adoption of ASC 606.
 
 
Balance Sheet
  (in thousands)
 
December 31, 2017,

As Reported Under

ASC 605
 
 
Adjustments Due

to ASC 606
 
 
January 1, 2018

As Adjusted

Under ASC 606
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
Current liabilities
 
 
 
 
 
 
 
 
 
 
 
 
Current portion of deferred revenue
 
$
3,214
 
 
$
(602
)
 
$
2,612
 
Total current liabilities
 
 
3,214
 
 
 
(602
)
 
 
2,612
 
Deferred revenue, net of current portion
 
 
3,061
 
 
 
(3,061
)
 
 
-
 
Total liabilities
 
 
8,668
 
 
 
(3,663
)
 
 
5,005
 
Stockholders’ Equity
 
 
 
 
 
 
 
 
 
 
 
 
Accumulated deficit
 
 
(359,792
)
 
 
3,663
 
 
 
(356,129
)
Total equity
 
$
170,098
 
 
$
3,663
 
 
$
173,761
 
 
The table below presents the impact of the adoption of ASC 606 on our balance sheet.
 
 
 
September 30, 2018
 
Balance Sheet

   (in thousands)
 
Under

ASC 605
 
 
Effect of

ASC 606
 
 
As Reported

Under ASC 606
 
Liabilities and Stockholders’ Equity
 
 
 
 
 
 
 
 
 
 
 
 
Current liabilities
 
 
 
 
 
 
 
 
 
 
 
 
Current portion of deferred revenue
 
$
602
 
 
$
(602
)
 
$
-
 
Total current liabilities
 
 
10,933
 
 
 
(602
)
 
 
10,331
 
Deferred revenue, net of current portion
 
 
2,609
 
 
 
(2,609
)
 
 
-
 
Total liabilities
 
 
13,542
 
 
 
(3,211
)
 
 
10,331
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stockholders’ Equity
 
 
 
 
 
 
 
 
 
 
 
 
Accumulated deficit
 
 
(395,922
)
 
 
3,211
 
 
 
(392,711
)
Total stockholders’ equity
 
$
147,034
 
 
$
3,211
 
 
$
150,245
 
Adoption of ASC 606 on Our Statement of Operations
The table below presents the impact of the adoption of ASC 606 on our statement of operations.
 
 
 
Third Quarter Ended September 30, 2018
 
STATEMENT OF OPERATIONS
 
 
 
 
 
 
 
 
 

(in thousands except per share amounts)
 
Under

ASC 605
 
 
Effect of

ASC 606
 
 
As Reported

Under ASC 606
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
 
License revenues
 
$
151
 
 
$
(151
)
 
$
-
 
Total revenues
 
 
1,860
 
 
 
(151
)
 
 
1,709
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loss from operations
 
$
(16,765
)
 
$
(151
)
 
$
(16,916
)
Net loss
 
$
(16,268
)
 
$
(151
)
 
$
(16,419
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic and diluted loss per common share
 
$
(0.34
)
 
$
0.00
 
 
$
(0.34
)
 
 
 
Nine Months Ended September 30, 2018
 
STATEMENT OF OPERATIONS

  (in thousands except per share amounts)
 
Under

ASC 605
 
 
Effect of

ASC 606
 
 
As Reported

Under ASC 606
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
 
License revenues
 
$
452
 
 
$
(452
)
 
$
-
 
Total revenues
 
 
5,578
 
 
 
(452
)
 
 
5,126
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loss from operations
 
$
(37,094
)
 
$
(452
)
 
$
(37,546
)
Net loss
 
$
(36,130
)
 
$
(452
)
 
$
(36,582
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic and diluted loss per common share
 
$
(0.77
)
 
$
(0.01
)
 
$
(0.77
)