Annual report pursuant to Section 13 and 15(d)

Note 18 - Supplemental Financial Information

v3.20.4
Note 18 - Supplemental Financial Information
12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Quarterly Financial Information [Text Block]

18.

Supplemental Financial Information

 

Quarterly Results of Operations (Unaudited)

 

The following tables present the unaudited statements of operations data for each of the eight quarters in the years ended  December 31, 2020 and December 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.

 

Unaudited Quarterly Results of Operations 

(in thousands, except share and per share amounts) 

 

   

Three months ended

         
   

March 31, 2020

   

June 30, 2020

   

September 30, 2020

   

December 31, 2020

   

Total for year 2020

 
                                         

Product sales

  $ 18     $     $ 90           $ 108  
                                         

Operating cost and expense

                                       

Cost of product sales

    1,454       1,306       1,635       1,081       5,476  

Research and development cost

    242       217       210       358       1,027  

General and administrative expense

    2,385       2,245       1,656       2,712       8,998  

Total operating expenses

    4,081       3,768       3,501       4,151       15,501  

Loss from operations

    (4,063 )     (3,768 )     (3,411 )     (4,151 )     (15,393 )

Other income and expense

                                       

Insurance proceeds net of related expenses

    (203 )     (52 )     1,722       1,479       2,946  
Impairment expense                       (11,741 )     (11,741 )

Interest expense

    (183 )     (164 )     (166 )     (1,107 )     (1,620 )

Interest and other income

    22       3       18       5       48  

Total other expense, net

    (364 )     (213 )     1,574       (11,364 )     (10,367 )
                                         

Loss before income tax expense

    (4,427 )     (3,981 )     (1,837 )     (15,515 )     (25,760 )

Income tax expense

          (2 )                 (2 )

Net loss

  $ (4,427 )   $ (3,983 )   $ (1,837 )   $ (15,515 )   $ (25,762 )

Weighted average shares outstanding, basic and diluted

    59,582,603       60,136,374       60,998,971       62,136,421       60,861,450  

Basic and diluted net loss per share

  $ (0.07 )   $ (0.07 )   $ (0.03 )   $ (0.25 )   $ (0.42 )

 

   

Three months ended

         
   

March 31, 2019

   

June 30, 2019

   

September 30, 2019

   

December 31, 2019

   

Total for year 2019

 
                                         

Product sales

  $ 437     $ 1,483     $ 2,361     $ 593     $ 4,874  
                                         

Operating cost and expense

                                       

Cost of product sales

    4,681       7,185       8,231       4,702       24,799  

Research and development cost

    620       338       282       315       1,555  

General and administrative expense

    4,016       4,335       5,107       5,856       19,314  

Total operating expenses

    9,317       11,858       13,620       10,873       45,668  

Loss from operations

    (8,880 )     (10,375 )     (11,259 )     (10,280 )     (40,794 )

Other income and expense

                                       
Insurance proceeds net of related expenses                       (792 )     (792 )

Interest expense

    (2,889 )     (203 )     (142 )     (243 )     (3,477 )

Interest and other income

    63       77       85       45       270  

Total other expense, net

    (2,826 )     (126 )     (57 )     (990 )     (3,999 )
Loss before income tax expense     (11,706 )     (10,501 )     (11,316 )     (11,270 )     (44,793 )

Income tax expense

    (2 )                       (2 )

Net loss

  $ (11,708 )   $ (10,501 )   $ (11,316 )   $ (11,270 )   $ (44,795 )

Weighted average shares outstanding, basic and diluted

    43,514,225       50,757,448       57,053,982       57,523,283       52,263,885  

Basic and diluted net loss per share

  $ (0.27 )   $ (0.21 )   $ (0.20 )   $ (0.20 )   $ (0.86 )