| Quarterly Financial Data (Unaudited) |
NOTE 11 – QUARTERLY FINANCIAL DATA
(UNAUDITED)
The following table contains quarterly
financial information for 2019 and 2018. We believe that the following information reflects all normal recurring adjustments necessary
for a fair statement of the information for the periods presented. The operating results for any quarter are not necessarily indicative
of results for any future period.
| |
|
Quarters Ended |
|
| |
|
December 31,
2019 |
|
|
September 30,
2019 |
|
|
June 30,
2019 |
|
|
March 31,
2019 |
|
| Foundation revenues |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
| Royalties |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Research and development |
|
|
9,605,000 |
|
|
|
10,917,000 |
|
|
|
16,307,000 |
|
|
|
11,737,000 |
|
| General and administrative |
|
|
4,734,000 |
|
|
|
4,700,000 |
|
|
|
5,612,000 |
|
|
|
5,659,000 |
|
| Loss from operations |
|
|
(16,411,000 |
) |
|
|
(17,649,000 |
) |
|
|
(23,976,000 |
) |
|
|
(19,054,000 |
) |
| Net loss |
|
|
(16,431,000 |
) |
|
|
(17,372,000 |
) |
|
|
(23,924,000 |
) |
|
|
(18,555,000 |
) |
| Basic and diluted loss per common share |
|
|
(0.30 |
) |
|
|
(0.35 |
) |
|
|
(0.49 |
) |
|
|
(0.39 |
) |
| Weighted average number of common shares outstanding – basic and diluted |
|
|
54,718,776 |
|
|
|
49,721,753 |
|
|
|
48,961,988 |
|
|
|
47,948,421 |
|
| |
|
Quarters Ended |
|
|
| |
|
|
December 31,
2018 |
|
|
|
September 30,
2018 |
|
|
|
June 30,
2018 |
|
|
|
March 31,
2018 |
|
| Foundation revenues |
|
$ |
369,000 |
|
|
$ |
1,687,000 |
|
|
$ |
259,000 |
|
|
$ |
481,000 |
|
| Royalties |
|
|
113,000 |
|
|
|
22,000 |
|
|
|
17,000 |
|
|
|
50,000 |
|
| Research and development |
|
|
9,470,000 |
|
|
|
13,150,000 |
|
|
|
7,916,000 |
|
|
|
8,162,000 |
|
| General and administrative |
|
|
7,631,000 |
|
|
|
4,970,000 |
|
|
|
4,627,000 |
|
|
|
2,878,000 |
|
| Loss from operations |
|
|
(18,010,000 |
) |
|
|
(16,916,000 |
) |
|
|
(12,557,000 |
) |
|
|
(10,683,000 |
) |
| Net loss |
|
|
(17,479,000 |
) |
|
|
(16,419,000 |
) |
|
|
(12,243,000 |
) |
|
|
(10,530,000 |
) |
| Basic and diluted loss per common share |
|
|
(0.36 |
) |
|
|
(0.34 |
) |
|
|
(0.26 |
) |
|
|
(0.22 |
) |
| Weighted average number of common shares outstanding – basic and diluted |
|
|
47,944,486 |
|
|
|
47,794,394 |
|
|
|
47,303,518 |
|
|
|
47,060,523 |
|
|