Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.6.0.2
Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenue      
Total National revenue $ 16,480,000 $ 863,000  
Net revenue 16,480,000 863,000 $ 0
Operating expenses      
Cost of goods sold - product revenue (790,000) 0  
Research and development (35,134,000) (29,810,000)  
Research and development - licenses acquired 5,532,000 11,408,000 0
General and administrative (28,229,000) (18,734,000)  
Total operating expenses 82,190,000 51,394,000 20,652,000
Loss from operations (65,710,000) (50,531,000) (20,652,000)
Other income (expenses)      
Interest income 298,000 245,000 662,000
Interest expense and financing fee (3,690,000) (1,484,000) (1,338,000)
Change in fair value of derivative liabilities (1,039,000) (438,000) 0
Change in fair value of subsidiary convertible note (78,000) 0 0
Change in fair value of investments (1,071,000) (1,675,000) 942,000
Total other expenses (5,580,000) (3,352,000) 266,000
Net loss (71,290,000) (53,883,000) (20,386,000)
Less: net loss attributable to non-controlling interests 16,195,000 5,455,000 0
Net loss attributable to common stockholders $ (55,095,000) $ (48,428,000) $ (20,386,000)
Basic and diluted net loss per common share $ (1.38) $ (1.24) $ (0.56)
Weighted average common shares outstanding—basic and diluted 39,962,657 39,146,589 36,323,596
Parent Company [Member]      
Revenue      
Product revenue, net $ 3,587,000 $ 273,000 $ 0
Revenue - from a related party 2,570,000 590,000 0
Total National revenue 6,157,000 863,000 0
Operating expenses      
Cost of goods sold - product revenue 790,000 0 0
Research and development 29,602,000 18,402,000 10,239,000
Research and development - licenses acquired 5,532,000 11,408,000 0
General and administrative 34,003,000 21,584,000 10,413,000
Total operating expenses 69,927,000 51,394,000 20,652,000
National Holdings Corporation [Member]      
Revenue      
Commissions 5,388,000 0 0
Net dealer inventory gains 253,000 0 0
Investment banking 2,829,000 0 0
Investment advisory 904,000 0 0
Interest and dividends 155,000 0 0
Transfer fees and clearing services 386,000 0 0
Tax preparation and accounting 338,000 0 0
Other 70,000 0 0
Total National revenue 10,323,000 0 0
Operating expenses      
Commissions, compensation and fees 10,414,000 0 0
Clearing fees 144,000 0 0
Communications 177,000 0 0
Occupancy 193,000 0 0
Licenses and registration 147,000 0 0
Professional fees 327,000 0 0
Interest 1,000 0 0
Depreciation and amortization 545,000 0 0
Other administrative expenses 315,000 0 0
Total operating expenses $ 12,263,000 $ 0 $ 0