Annual report pursuant to Section 13 and 15(d)

Selected Quarterly Financial Data (Unaudited)

v3.22.4
Selected Quarterly Financial Data (Unaudited)
12 Months Ended
Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]  
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.

Three months ended,
March 31, 2022 June 30, 2022 September 30, 2022 December 31, 2022 Total
(in thousands, except per share data)
(unaudited)
Total revenues $ 36,516  $ 50,126  $ 59,221  $ 50,382  $ 196,245 
Research and development $ 9,179  $ 8,467  $ 9,239  $ 9,197  $ 36,082 
General and administrative $ 11,925  $ 12,086  $ 14,920  $ 31,131  $ 70,062 
Total operating costs and expenses $ 34,383  $ 41,464  $ 46,880  $ 70,481  $ 193,208 
Net income (loss) from continuing operations $ (12,929) $ 12,599  $ 9,645  $ (14,534) $ (5,219)
Net loss from discontinued operations $ (2,456) $ (13,494) $ (9,241) $ (2,951) $ (28,142)
Net income (loss) $ (15,385) $ (895) $ 404  $ (17,485) $ (33,361)
Basic net income (loss) from continuing operations per share $ (0.77) $ 0.75  $ 0.57  $ (0.86) $ (0.31)
Basic net loss from discontinued operations per share $ (0.15) $ (0.80) $ (0.55) $ (0.17) $ (1.67)
Diluted net income (loss) from continuing operations per share $ (0.77) $ 0.74  $ 0.56  $ (0.86) $ (0.31)
Diluted net loss from discontinued operations per share $ (0.15) $ (0.79) $ (0.54) $ (0.17) $ (1.67)
Shares used in the computation of basic net income (loss) per share 16,824  16,868  16,888  16,890  16,868 
Shares used in the computation of diluted net income (loss) per share 16,824  17,058  17,132  16,890  16,868 

Three months ended,
March 31, 2021 June 30, 2021 September 30, 2021 December 31, 2021 Total
(in thousands, except per share data)
(unaudited)
Total revenues $ 46,592  $ 78,854  $ 59,694  $ 56,404  $ 241,544 
Research and development $ 9,046  $ 7,482  $ 7,430  $ 8,147  $ 32,105 
General and administrative $ 10,815  $ 12,412  $ 10,967  $ 12,596  $ 46,790 
Total operating costs and expenses $ 36,875  $ 24,941  $ 34,597  $ 41,280  $ 137,693 
Net income (loss) from continuing operations $ 22,767  $ 36,442  $ 20,338  $ (3,194) $ 76,353 
Net loss from discontinued operations $ (4,660) $ (5,717) $ (6,615) $ (2,223) $ (19,215)
Net income (loss) $ 18,107  $ 30,725  $ 13,723  $ (5,417) $ 57,138 
Basic net income (loss) from continuing operations per share $ 1.39  $ 2.19  $ 1.22  $ (0.19) $ 4.59 
Basic net loss from discontinued operations per share $ (0.28) $ (0.34) $ (0.40) $ (0.13) $ (1.16)
Diluted net income (loss) from continuing operations per share $ 1.32  $ 2.12  $ 1.19  $ (0.19) $ 4.43 
Diluted net loss from discontinued operations per share $ (0.27) $ (0.33) $ (0.39) $ (0.13) $ (1.11)
Shares used in the computation of basic net income (loss) per share 16,435  16,659  16,688  16,733  16,630 
Shares used in the computation of diluted net income (loss) per share 17,248  17,172  17,142  16,733  17,246