| Selected Quarterly Financial Data (Unaudited) |
Selected Quarterly Financial Data (Unaudited) The following table contains quarterly financial information for 2022 and 2021. The Company believes that the following information reflects all normal recurring adjustments necessary for a fair presentation 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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March 31, 2022 |
June 30, 2022 |
September 30, 2022 |
December 31, 2022 |
Total |
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(in thousands, except per share data) |
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(unaudited) |
| Total revenues |
$ |
36,516 |
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$ |
50,126 |
|
$ |
59,221 |
|
$ |
50,382 |
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$ |
196,245 |
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| Research and development |
$ |
9,179 |
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$ |
8,467 |
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$ |
9,239 |
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$ |
9,197 |
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$ |
36,082 |
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| General and administrative |
$ |
11,925 |
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$ |
12,086 |
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$ |
14,920 |
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$ |
31,131 |
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$ |
70,062 |
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| Total operating costs and expenses |
$ |
34,383 |
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$ |
41,464 |
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$ |
46,880 |
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$ |
70,481 |
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$ |
193,208 |
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| Net income (loss) from continuing operations |
$ |
(12,929) |
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$ |
12,599 |
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$ |
9,645 |
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$ |
(14,534) |
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$ |
(5,219) |
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| Net loss from discontinued operations |
$ |
(2,456) |
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$ |
(13,494) |
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$ |
(9,241) |
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$ |
(2,951) |
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$ |
(28,142) |
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| Net income (loss) |
$ |
(15,385) |
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$ |
(895) |
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$ |
404 |
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$ |
(17,485) |
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$ |
(33,361) |
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| Basic net income (loss) from continuing operations per share |
$ |
(0.77) |
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$ |
0.75 |
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$ |
0.57 |
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$ |
(0.86) |
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$ |
(0.31) |
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| Basic net loss from discontinued operations per share |
$ |
(0.15) |
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$ |
(0.80) |
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$ |
(0.55) |
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$ |
(0.17) |
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$ |
(1.67) |
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| Diluted net income (loss) from continuing operations per share |
$ |
(0.77) |
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$ |
0.74 |
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$ |
0.56 |
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$ |
(0.86) |
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$ |
(0.31) |
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| Diluted net loss from discontinued operations per share |
$ |
(0.15) |
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$ |
(0.79) |
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$ |
(0.54) |
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$ |
(0.17) |
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$ |
(1.67) |
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| Shares used in the computation of basic net income (loss) per share |
16,824 |
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16,868 |
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16,888 |
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16,890 |
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16,868 |
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| Shares used in the computation of diluted net income (loss) per share |
16,824 |
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17,058 |
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17,132 |
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16,890 |
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16,868 |
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Three months ended, |
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March 31, 2021 |
June 30, 2021 |
September 30, 2021 |
December 31, 2021 |
Total |
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(in thousands, except per share data) |
|
(unaudited) |
| Total revenues |
$ |
46,592 |
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$ |
78,854 |
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$ |
59,694 |
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$ |
56,404 |
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$ |
241,544 |
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| Research and development |
$ |
9,046 |
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$ |
7,482 |
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$ |
7,430 |
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$ |
8,147 |
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$ |
32,105 |
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| General and administrative |
$ |
10,815 |
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$ |
12,412 |
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$ |
10,967 |
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$ |
12,596 |
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$ |
46,790 |
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| Total operating costs and expenses |
$ |
36,875 |
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$ |
24,941 |
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$ |
34,597 |
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$ |
41,280 |
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$ |
137,693 |
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| Net income (loss) from continuing operations |
$ |
22,767 |
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$ |
36,442 |
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$ |
20,338 |
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$ |
(3,194) |
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$ |
76,353 |
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| Net loss from discontinued operations |
$ |
(4,660) |
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$ |
(5,717) |
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$ |
(6,615) |
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$ |
(2,223) |
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$ |
(19,215) |
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| Net income (loss) |
$ |
18,107 |
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$ |
30,725 |
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$ |
13,723 |
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$ |
(5,417) |
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$ |
57,138 |
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| Basic net income (loss) from continuing operations per share |
$ |
1.39 |
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$ |
2.19 |
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$ |
1.22 |
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$ |
(0.19) |
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$ |
4.59 |
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| Basic net loss from discontinued operations per share |
$ |
(0.28) |
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$ |
(0.34) |
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$ |
(0.40) |
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$ |
(0.13) |
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$ |
(1.16) |
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| Diluted net income (loss) from continuing operations per share |
$ |
1.32 |
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$ |
2.12 |
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$ |
1.19 |
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$ |
(0.19) |
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$ |
4.43 |
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| Diluted net loss from discontinued operations per share |
$ |
(0.27) |
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$ |
(0.33) |
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$ |
(0.39) |
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$ |
(0.13) |
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$ |
(1.11) |
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| Shares used in the computation of basic net income (loss) per share |
16,435 |
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16,659 |
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16,688 |
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16,733 |
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16,630 |
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| Shares used in the computation of diluted net income (loss) per share |
17,248 |
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17,172 |
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17,142 |
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16,733 |
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17,246 |
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