Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

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CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues:        
License revenue $ 15,004 $ 760 $ 15,004 $ 1,671
Total revenue 15,004 760 15,004 1,671
Operating expenses:        
Research and development 1,746 1,099 2,446 2,530
General and administrative 1,214 753 2,345 1,848
Total operating expenses 2,960 1,852 4,791 4,378
Income (loss) from operations 12,044 (1,092) 10,213 (2,707)
Other expense:        
Other expense, net (6) (4) (25) (7)
Non-cash loss on changes in the fair value of warrants (110) (1,185) (106) (4,464)
Other expense, net (116) (1,189) (131) (4,471)
Net income (loss) and comprehensive income (loss) $ 11,928 $ (2,281) $ 10,082 $ (7,178)
Basic net income (loss) per common share $ 0.58 $ (0.11) $ 0.5 $ (0.36)
Diluted net income (loss) per common share $ 0.55 $ (0.11) $ 0.48 $ (0.36)
Weighted average shares used in computing basic net income (loss) per common share 20,508 20,060 20,284 20,045
Weighted average shares used in computing diluted net income (loss) per common share 21,878 20,073 21,223 20,055