Annual report pursuant to Section 13 and 15(d)

Supplemental Financial Information

v3.19.2
Supplemental Financial Information
12 Months Ended
Mar. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Supplemental Financial Information

The following table presents the unaudited statements of operations data for each of the eight quarters in the period ended March 31, 2019. The information has been presented on the same basis as the audited financial statements and all necessary adjustments, consisting only of normal recurring adjustments, have been included in the amounts below to present fairly the unaudited quarterly results when read in conjunction with the audited financial statements and related notes. The operating results for any quarter should not be relied upon as necessarily indicative of results for any future period.

 

Quarterly Results of Operations (Unaudited)

 (in thousands, except share and per share amounts)

 

    Three Months Ended   Total
    June 30, 2018   September 30, 2018   December 31, 2018   March 31, 2019   Fiscal Year 2019
Operating expenses:                                        
Research and development   $ 2,744     $ 5,261     $ 5,335     $ 3,758     $ 17,098  
General and administrative     1,466       2,171       1,857       1,964       7,458  
Total operating expenses     4,210       7,432       7,192       5,722       24,556  
Loss from operations     (4,210 )     (7,432 )     (7,192 )     (5,722 )     (24,556 )
                                         
Other expenses, net:                                        
Interest expense, net     (2 )     (3 )     (2 )     (1 )     (8 )
Loss on extinguishment of accounts payable     —         —         (23 )     —         (23 )
                                         
Loss before income taxes     (4,212 )     (7,435 )     (7,217 )     (5,723 )     (24,587 )
Income taxes     (2 )     —         —         —         (2 )
Net loss and comprehensive loss     (4,214 )     (7,435 )     (7,217 )     (5,723 )     (24,589 )
                                         
Accrued dividend on Series B Preferred stock     (274 )     (284 )     (291 )     (291 )     (1,140 )
Net loss attributable to common stockholders   $ (4,488 )   $ (7,719 )   $ (7,508 )   $ (6,014 )   $ (25,729 )
                                         
Basic and diluted net loss per common share                                        
attributable to common stockholders   $ (0.20 )   $ (0.30 )   $ (0.24 )   $ (0.17 )   $ (0.90 )
                                         
Weighted average shares used in computing:                                        
 Basic and diluted net loss per common share                                        
       attributable to common stockholders     22,987,066       25,815,245       30,696,312       35,113,753       28,562,490  

 

 

    Three Months Ended   Total
    June 30, 2017   September 30, 2017   December 31, 2017   March 31, 2018   Fiscal Year 2018
                     
Operating expenses:                                        
Research and development   $ 1,096     $ 2,427     $ 1,602     $ 2,638     $ 7,763  
General and administrative     1,164       2,567       1,266       1,440       6,437  
Total operating expenses     2,260       4,994       2,868       4,078       14,200  
Loss from operations     (2,260 )     (4,994 )     (2,868 )     (4,078 )     (14,200 )
                                         
Other expenses, net:                                        
Interest expense, net     (3 )     (3 )     (2 )     (1 )     (9 )
Loss on extinguishment of accounts payable     —         —         (135 )     —         (135 )
                                         
Loss before income taxes     (2,263 )     (4,997 )     (3,005 )     (4,079 )     (14,344 )
Income taxes     (2 )     —         —         —         (2 )
Net loss and comprehensive loss     (2,265 )     (4,997 )     (3,005 )     (4,079 )     (14,346 )
Accrued dividend on Series B Preferred stock     (247 )     (257 )     (263 )     (263 )     (1,030 )
Deemed dividend from trigger of down round                                        
provision feature     —         —         (199 )     —         (199 )
                                         
Net loss attributable to common stockholders   $ (2,512 )   $ (5,254 )   $ (3,467 )   $ (4,342 )   $ (15,575 )
                                         
Basic and diluted net loss per common share                                        
attributable to common stockholders   $ (0.28 )   $ (0.53 )   $ (0.25 )   $ (0.19 )   $ (1.12 )
                                         
Weighted average shares used in computing:                                        
Basic and diluted net loss per common share                                        
attributable to common stockholders     9,034,213       9,892,016       13,895,642       22,880,968       13,890,041