Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Financial Statements Detail

v3.19.3
Condensed Consolidated Financial Statements Detail
9 Months Ended
Sep. 30, 2019
Condensed Consolidated Financial Statements Detail [Abstract]  
Condensed Consolidated Financial Statements Detail

3. Condensed Consolidated Financial Statements Details

Long-term Equity Securities

As of September 30, 2019 and December 31, 2018, long-term equity securities consisted of an investment in Rezolute’s common stock of $0.9 million and $0.4 million, respectively (see Note 4). During the three and nine months ended September 30, 2019 and 2018, the Company recognized a loss of $0.3 million and gains of $0.5 million, and losses of $0.2 million and $0.6 million, respectively, in the other income (expense), net line item of the condensed consolidated statements of operations and comprehensive income (loss) due to the change in fair value of its investment in Rezolute’s common stock.

Accrued and Other Liabilities  

Accrued and other liabilities consisted of the following (in thousands):

 

 

September 30,

 

 

December 31,

 

 

 

2019

 

 

2018

 

Accrued legal and accounting fees

 

$

315

 

 

$

396

 

Accrued restructuring

 

 

 

 

 

1,361

 

Accrued incentive compensation

 

 

294

 

 

 

152

 

Accrued payroll and other benefits

 

 

282

 

 

 

155

 

Other

 

 

209

 

 

 

318

 

Total

 

$

1,100

 

 

$

2,382

 

 

Net Income (Loss) Per Share Available to Common Stockholders

The following is a reconciliation of the numerator (net income or loss) and the denominator (number of shares) used in the calculation of basic and diluted net income (loss) per share available to common stockholders (in thousands):

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Numerator

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

$

3,178

 

 

$

(4,578

)

 

$

2,339

 

 

$

(10,331

)

Less: Allocation of undistributed earnings to participating

   securities

 

(1,327

)

 

 

 

 

 

(977

)

 

 

 

Net income (loss) available to common stockholders, basic

 

1,851

 

 

 

(4,578

)

 

 

1,362

 

 

 

(10,331

)

Add: Adjustments to undistributed earnings allocated to

   participating securities

 

60

 

 

 

 

 

 

41

 

 

 

 

Net income (loss) available to common stockholders, diluted

$

1,911

 

 

$

(4,578

)

 

$

1,403

 

 

$

(10,331

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares used in computing basic net income

   (loss) per share available to common stockholders

 

8,731

 

 

 

8,386

 

 

 

8,721

 

 

 

8,354

 

Effect of dilutive stock options

 

708

 

 

 

 

 

 

657

 

 

 

 

Effect of dilutive warrants

 

2

 

 

 

 

 

 

1

 

 

 

 

Weighted average shares used in computing diluted net income

   (loss) per share available to common stockholders

 

9,441

 

 

 

8,386

 

 

 

9,379

 

 

 

8,354

 

 

Potentially dilutive securities are excluded from the calculation of diluted net income (loss) per share available to common stockholders if their inclusion is anti-dilutive. The following table shows the weighted-average outstanding securities considered anti-dilutive and therefore excluded from the computation of diluted net income (loss) per share available to common stockholders (in thousands):

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Convertible preferred stock

 

 

 

 

5,003

 

 

 

 

 

 

5,003

 

Common stock options and RSUs

 

893

 

 

 

1,644

 

 

 

926

 

 

 

1,638

 

Warrants for common stock

 

15

 

 

 

24

 

 

 

15

 

 

 

21

 

Total

 

908

 

 

 

6,671

 

 

 

941

 

 

 

6,662