| Selected Quarterly Financial Data (unaudited) |
15. Selected Quarterly Financial Data (unaudited)
The following table contains selected quarterly financial information for 2019 and 2018. The Company believes 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.
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Three Months Ended
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|
|
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March 31, 2019
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June 30, 2019
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September 30, 2019
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December 31, 2019
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Revenue
|
|
$
|
454
|
|
|
$
|
462
|
|
|
$
|
558
|
|
|
|
508
|
|
|
Operating expenses:
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Research and development
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|
|
12,562
|
|
|
|
15,475
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|
|
|
15,931
|
|
|
|
14,277
|
|
|
General and administrative
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|
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4,865
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|
|
|
5,195
|
|
|
|
5,016
|
|
|
|
6,402
|
|
|
Total operating expenses
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|
|
17,427
|
|
|
|
20,670
|
|
|
|
20,947
|
|
|
|
20,679
|
|
|
Loss from operations
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|
|
(16,973
|
)
|
|
|
(20,208
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)
|
|
|
(20,389
|
)
|
|
|
(20,171
|
)
|
|
Other income, net
|
|
|
512
|
|
|
|
753
|
|
|
|
596
|
|
|
|
442
|
|
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Net loss applicable to common stockholders
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|
$
|
(16,461
|
)
|
|
$
|
(19,455
|
)
|
|
$
|
(19,793
|
)
|
|
|
(19,729
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)
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|
Net loss per share applicable to common stockholders - basic and diluted
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|
$
|
(0.49
|
)
|
|
$
|
(0.47
|
)
|
|
$
|
(0.47
|
)
|
|
|
(0.46
|
)
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|
Weighted-average number of common shares used in net loss per share applicable to common stockholders - basic and diluted
|
|
|
33,766,333
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|
|
|
41,673,275
|
|
|
|
42,439,338
|
|
|
|
42,885,208
|
|
|
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Three Months Ended
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|
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March 31, 2018
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|
|
June 30, 2018
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|
|
September 30, 2018
|
|
|
December 31, 2018
|
|
|
Revenue
|
|
$
|
370
|
|
|
$
|
375
|
|
|
$
|
412
|
|
|
$
|
893
|
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development
|
|
|
11,116
|
|
|
|
11,082
|
|
|
|
12,856
|
|
|
|
15,128
|
|
|
General and administrative
|
|
|
4,075
|
|
|
|
3,841
|
|
|
|
3,876
|
|
|
|
4,372
|
|
|
Total operating expenses
|
|
|
15,191
|
|
|
|
14,923
|
|
|
|
16,732
|
|
|
|
19,500
|
|
|
Loss from operations
|
|
|
(14,821
|
)
|
|
|
(14,548
|
)
|
|
|
(16,320
|
)
|
|
|
(18,607
|
)
|
|
Other income, net
|
|
|
358
|
|
|
|
501
|
|
|
|
583
|
|
|
|
575
|
|
|
Net loss applicable to common stockholders
|
|
$
|
(14,463
|
)
|
|
$
|
(14,047
|
)
|
|
$
|
(15,737
|
)
|
|
$
|
(18,032
|
)
|
|
Net loss per share applicable to common stockholders - basic and diluted
|
|
$
|
(0.48
|
)
|
|
$
|
(0.43
|
)
|
|
$
|
(0.47
|
)
|
|
$
|
(0.54
|
)
|
|
Weighted-average number of common shares used in net loss per share applicable to common stockholders - basic and diluted
|
|
|
30,335,164
|
|
|
|
32,892,712
|
|
|
|
33,653,479
|
|
|
|
33,694,756
|
|
|