Annual report pursuant to Section 13 and 15(d)

16. QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

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16. QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
16. QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

In the opinion of management, the following unaudited consolidated financial information includes all normal and recurring adjustments considered necessary to present fairly the Company’s results of operations for the periods indicated.

 

    For the Three Months Ended
    March 31, 2018   June 30, 2018   September 30, 2018   December 31, 2018
                 
REVENUES:                                
Product revenue   $ 4,006,298     $ 4,620,841     $ 4,194,602     $ 4,020,715  
License and other revenue     35,708       35,709       35,708       35,709  
Total Revenues     4,042,006       4,656,550       4,230,310       4,056,424  
                                 
OPERATING EXPENSES:                                
Cost of product revenue (exclusive of      amortization expense shown below)     12,242,748       9,645,662       9,164,109       11,142,116  
Research and development (1)     965,571       1,040,427       1,002,818       917,304  
Plasma center operating expenses     1,833,774       1,738,128       1,973,338       2,260,379  
Amortization of intangibles     211,235       211,234       211,235       211,234  
Selling, general and administrative (1)     5,321,181       5,438,480       5,670,210       6,073,051  
Total operating expenses     20,574,509       18,073,931       18,021,710       20,604,084  
                                 
LOSS FROM OPERATIONS     (16,532,503 )     (13,417,381 )     (13,791,400 )     (16,547,660 )
                                 
OTHER INCOME (EXPENSE):                                
Interest income     26,546       33,070       75,581       60,206  
Interest expense     (1,323,152 )     (1,359,188 )     (1,402,475 )     (1,437,968 )
Other expense     6,967       (4,332 )     (17,191 )     (112,565 )
Other expense, net     (1,289,639 )     (1,330,450 )     (1,344,085 )     (1,490,327 )
                                 
NET LOSS   $ (17,822,142 )   $ (14,747,831 )   $ (15,135,485 )   $ (18,037,987 )
                                 
BASIC AND DILUTED LOSS PER COMMON SHARE   $ (0.39 )   $ (0.35 )   $ (0.33 )   $ (0.39 )
                                 
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:                                
Basic and Diluted     45,317,042       42,712,168       46,350,392       46,351,860  

 

(1) - For the three months ended March 31, June 30, and September 30, 2018, the Company reclassified $0.3 million, $0.4 million and $0.3 million, respectively, of operating expenses from Research and development expenses to Selling, general and administrative expenses